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Date: 2 weeks ago   Category: Realty

How will realtors after transition to escrow accounts work?


In the professional environment there was a question: whether the realtor companies which help builders with sales are included in the list of contractors? Photo: A marine of Lystsev/TASS the International rating agency Fitch Ratings published the industry review how after July 1 project financing will work with use of escrow accounts. According to the forecast of the agency, banks will grant to builders the loans for the sum up to 80-85% from project cost, demanding from developers initial contribution of 15-20%, the average rate on developer financing will make less than 6%, the bank will pay directly means to suppliers and contractors of builders, and specific conditions of financing will depend on solvency of the borrower company, duration of implementation of the project and any guarantees from contractors. In the professional environment immediately there was a question whether the realtor companies which help builders with sales are included in the list of contractors. Really to enter them in the financial plan quite difficult: realtors work for percent, in advance precisely to define how many apartments they will sell, it is impossible. And in general, there is an opinion that within rigidly controlled project financing brokers — the real "black hole": after July 1 all take and become brokers, list themselves commission charges, and the bank watches only leave the translations therefore it is better not to recognize realtors as contractors at all. However, many consider that fears are vain. And, according to the commercial director of the Sminex company Roman Semchishin, on that is at least three reasons. Roman Semchishin the commercial director of the Sminex company "First, projects on an eskroa will appear very slowly in relation to the current market. Secondly, the bans on use of project financing for payments of commission charges to brokers are not present, banks are not interested in it. As work of brokers is a part of implementation of the project, such ban and will not be. Most likely, banks will watch closely the one to whom the commission, but no more than that is paid. Thirdly, even if someone will have difficulties with payment of the commissions from borrowed funds, the vast majority of builders are capable to pay independently the commission to brokers from the means". Roman Semchishin doubts that someone will prefer to cease to work with brokers only because it is inconvenient to it to pay the commission. To add BFM.ru to your sources of news?

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