Why is there a process of capital supervision in second-hand housing transactions? If the buyer pays the down payment, but there is a problem with the house in the later stage! What about the buyer? How to return the down payment? Therefore, capital supervision is necessary in the transaction!
1、 What is fund supervision?
Fund supervision means that the transaction funds of the buyer and the seller do not directly pass through the intermediary company, and the competent real estate department and the bank open a special fund supervision account in the bank. The account belongs to the bank. When the buyer transfers the ownership within the specified period, the fund is transferred to the original owner's account, that is, both the buyer and the seller should open an account in the supervision bank.
2、 Second hand housing fund supervision process
1. Supervision process of second-hand house full purchase funds
(1) The buyer and the seller sign the house purchase contract and put forward the demand for capital supervision;
(2) The buyer and the Seller shall set up a supervision account in the supervision bank and sign a fund supervision agreement, and the buyer's payment shall be directly entered into the supervision account;
(3) The intermediary company handles the tax payment and transfer procedures for the buyer and the seller;
(4) After the buyer transfers the house to his own name, the bank transfers the money to the seller's account.
2. Supervision process of down payment of second-hand housing loan
(1) The buyer and the seller sign the house purchase contract and put forward the demand for capital supervision;
(2) The lending bank reviews the borrower's qualification and signs the loan contract;
(3) Evaluate the house price and determine the down payment amount;
(4) The buyer and the seller sign a fund supervision agreement, and the buyer pays the down payment into the bank fund supervision account;
(5) After the successful transfer of ownership, the bank shall transfer the down payment to the seller's account;
(6) After the buyer has handled the house mortgage, the housing management center will issue the other right certificate (the real estate registration certificate will be issued in the area where the real estate rating system is implemented), and the bank will transfer the loan to the seller's account after obtaining the other right certificate.
3、 Do you need to pay for capital supervision?
Generally speaking, the supervision of second-hand housing funds is a free service, and the transaction guarantee institution does not charge a fee. Except for areas with special requirements and regulations, please consult the local trading institution for specific conditions.
4、 Should we pay liquidated damages for deregulation of funds?
If the transaction between the buyer and the seller cannot continue for some reason, they can apply to the regulatory authority for deregulation, and no liquidated damages and fees will be charged for deregulation. The buyer and the seller need to sign a deregulation agreement with the regulatory authority.
5、 What are the precautions for capital supervision?
1. The bank accounts of the buyer and the Seller shall be provided;
2. According to the regulations of the regulatory authority, the account of the existing custodian bank can be used without opening a new account, but it must be a local account and have the function of personal transfer;
3. If it is a loan purchase, choose the same custodian bank and open a personal settlement account;
4. If the house is purchased by loan, the loan bank shall transfer the loan to the capital supervision account before handling the property right registration, and then to the seller's account after the buyer successfully changes the property right;
5. The buyer and the Seller shall keep the relevant documents and passwords and do not disclose them to others.
6、 What are the risks of not doing capital supervision?
1. Without capital supervision, if the buyer requires the transfer of ownership in advance and the payment of the balance is delayed, the seller has a very high risk. For example, if the buyer has little free funds and wants to obtain funds through the purchase of house mortgage loans, so as to realize the rolling purchase of multiple houses, this will easily lead to the rupture of the capital chain, resulting in the seller's inability to recover the balance, and the house property right has been transferred and the house ownership has been lost.
2. Without capital supervision, if the seller's house is still mortgaged and wants to use the buyer's funds (down payment) to release the mortgage, there are risks: the first possibility is that the seller misappropriates the buyer's funds for other purposes, resulting in the failure of the house to release the mortgage as agreed, resulting in the failure of smooth transfer of ownership; It is also possible that the seller's house actually has multiple mortgages, and the funds paid by the buyer can only solve some of the mortgages, resulting in the delay of the release of the mortgage of the house. For the buyer, the transaction is delayed, or the money and house are empty.
In short, buyers must always be vigilant when buying a house, and ensure that each step of the process is clear when doing capital supervision.