"The down payment is paid, but the house is out of order"
Sino-Singapore Jingwei Client, October 29 (Xue Yufei) According to incomplete statistics from Sino-Singapore Jingwei Client, entering the second half of the year, including Fujian, Yinchuan, Shijiazhuang, Ziyang, Jingzhou, Huangshi, Guilin, Bengbu, Quzhou and other places, one after another The introduction or improvement of relevant regulations on the supervision of pre-sale funds for newly-built commercial housing, Beijing has carried out special inspections, and the supervision of pre-sale funds has become stricter.
In addition, some localities and real estate agencies have also strengthened the custody of funds for second-hand housing transactions.
The industry believes that there has always been a regulatory system for pre-sale funds for commercial housing, but the reality is that the purchaser’s house payment has not entered the supervision account, and the funds entered into the supervision account are arbitrarily withdrawn by the developer and used for other purposes, thereby inducing The project was shut down and even the real estate was unfinished.
This tightening is to ensure the safety of capital operations and prevent financial risks in the real estate sector.
In terms of actual operation, we will continue to strengthen the entry and exit of funds in the pre-sale fund supervision account in the future.
Pre-sale funds were embezzled and the real estate still exists
Information map buildings.
Photo by Sino-Singapore Jingwei
Commercial housing sales are mostly in the form of pre-sales, that is, buyers pay deposits, down payments, loans and other funds to developers in advance, and the developers use the money for project construction.
In order to prevent developers from using funds for other purposes, a regulatory system for pre-sale funds for commercial housing has gradually formed. Developers deposit pre-sale funds into special regulatory accounts of commercial banks. After the construction progress reaches a certain standard, it will be reviewed by government authorities and banks. , Allocate the corresponding funds, and the funds shall not be withdrawn or used at will.
However, it is not uncommon for pre-sale funds to be misappropriated.
This year, a well-known real estate company built a luxury house project in Beijing. It was revealed by prospective owners that the developer had misappropriated funds in the fund supervision account. As a result, the construction party did not receive the construction funds and the project was suspended.
In May of this year, Beijing’s Chaoyang District Housing Management Bureau replied to prospective owners on the message board of local leaders of People’s Daily that, according to Article 13 of the “Beijing’s Measures for the Supervision and Administration of Pre-sale Funds for Commercial Housing,” It should be directly deposited into a special account. Real estate development enterprises shall not directly collect other commercial housing pre-sale funds except for deposits.” Because the developer has violated the above regulations in the process of selling houses, the bureau has issued the " Notice of Order to Correct."
In October of this year, some netizens stated on the message board of local leaders of People's Daily that the developer Zhongdi International maliciously overdrafted supervision funds and misappropriated them for other purposes, resulting in insufficient funds to build the remaining buildings. The construction has been suspended since early September.
Afterwards, the Housing and Urban-rural Construction Bureau of Deyang City, Sichuan Province replied that the bureau had once again interviewed the head of China Di International Headquarters and urged him to speed up the resumption of work after liquidation and strive for early delivery.
Lawyer Wang Jiahong, executive director of Beijing Jin Su Law Firm, told the Sino-Singapore Jingwei Client that each local government has a regulatory system for pre-sale funds. Taking Beijing as an example, the construction authority will require developers to set up an independent capital monitoring account. The purchaser is required to transfer the purchase price directly to the account, which is reflected in the purchase and sale contract signed by the purchaser.
However, developers in many places will ask buyers to transfer the purchase price to other accounts, and some even directly transfer it to the private account of the developer’s legal representative. In this way, the developer can embezzle the funds.
Once the funds cannot be withdrawn, there will be a break in the capital chain, which will eventually lead to inability to build houses and unfinished situations.
Wang Jiahong said that there is another possibility that although the developer put all the purchase price into the fund supervision account, when using the pre-sale funds, they provided untrue documents to defraud the bank to allocate the pre-sale funds, or the government department performed construction on the developer. If the progress monitoring is not in place, funds will be misappropriated.
Strengthen the supervision of the whole process of funds in various places and emphasize the use of special funds
Data map sales department sand table.
Photo by Xue Yufei, Sino-Singapore Jingwei
In March of this year, the Wuhan Municipal Housing and Urban-Rural Administration issued a document stating that the use of pre-sale supervision funds should be improved; Changchun’s Housing and Urban-Rural Administration stated that the supervision of pre-sale funds for newly sold commercial houses would be suspended; Shandong Housing and Urban-Rural Development Authority stated that it would moderately lower the pre-sale conditions And the pre-sale fund supervision retention ratio.
However, as the impact of the epidemic on the real estate market has gradually passed, localities have successively strengthened the supervision of pre-sale funds.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, analyzed the client of Sino-Singapore Jingwei that the pre-sale fund supervision policy has already reached an inflection point. It was relaxed in the first half of the year and tightened in the second half. From the perspective of policy orientation, it is necessary to ensure funds The safety of operation prevents financial risks in the real estate sector.
According to incomplete statistics from the Sino-Singapore Jingwei Client, including Fujian, Yinchuan, Shijiazhuang, Ziyang, Jingzhou, Huangshi, Guilin, Bengbu, Quzhou and other places, relevant regulations on the supervision of pre-sale funds for commercial housing have been introduced or improved, Huizhou, Shantou, Huaian The Huai’an District of Beijing City and other places issued a draft for comments on the supervision of pre-sale funds for commercial housing, and Beijing launched a special inspection.
It is found that the above regulations basically focus on the whole process of pre-sale funds supervision. For example, developers are required to open a special account for the supervision of pre-sale funds of commercial housing, sign pre-sale funds supervision agreements with regulators and regulatory banks, and buyers should pay for the house directly Deposited into the project supervision account.
In the use of pre-sale funds, a corresponding proportion of funds is drawn in accordance with the progress of the project.
According to the "Regulations on Pre-sale Funds for Pre-sales of New Commercial Housing in Yinchuan City (for Trial Implementation)" released recently and implemented on December 1 this year, real estate development companies must indicate information such as regulatory accounts in the purchase and sale contracts of commercial housing to assist home buyers in direct payment of housing prices. Deposited into the project supervision account, no direct collection of house prices of any nature is allowed.
Regulatory funds shall be established in accordance with the completion of the construction of the number of layers, the main structure acceptance, the completion of the acceptance record, the acquisition of the "commercial housing delivery certificate", the first registration of real estate and other links to set up the use of funds.
Special funds are used exclusively, and are also a high-frequency term in documents issued by various regions.
In the "Guiding Opinions on Strengthening the Supervision of Pre-sale Funds for Commercial Housing" issued by the Fujian Provincial Housing and Urban-rural Development Department in September this year, the real estate management department and regulatory banks shall implement key supervision of the pre-sale funds within the regulatory limit, and the special funds will be used exclusively for special purposes. The payment for the construction cost of the pre-sale project shall not be used to pay the principal and interest of any borrowed (loan) funds, land payment, fines, marketing expenses, and real estate development enterprise employee salaries.
Although many places require buyers of all the house purchases to enter the supervision account, Yan Yuejin said that it is difficult for the supervisory authority or supervisory bank to verify the real sales situation of the real estate company. If the real estate company charges privately, the pre-sale funds will still be supervised. policy.
Therefore, it is necessary to allow real estate companies to report the actual sales situation every month to verify whether the purchase price is timely and fully included in the supervision.
In terms of fund withdrawal, Yan Yuejin said that in many cases, pre-sale fund supervision banks have business cooperation with developers. It is also prone to problems when such banks are allowed to supervise developers.
Banks need to truly implement third-party supervision responsibilities, and once there is a problem with the project, they must assume the responsibility for inadequate supervision.
The 50-city second-hand housing fund depository ratio reaches 80%, the agency recommends to continue to strengthen
With the advent of the era of stock housing, the scale of second-hand housing transactions has gradually increased. However, due to various factors such as the nature of houses and the relatively cumbersome transaction process, how to ensure the safety of funds during the transaction between buyers and sellers has also attracted attention.
Judging from the performance of second-hand housing transactions, in the first three quarters of this year, 3% of the odd number of contract cancellations in Shell Housing platform transactions was 3%.
Among the 47 cases of complaints about second-hand housing transaction fund disputes calculated by the Shell Research Institute, 20 cases involved deposits, accounting for 43%; 19 cases involving down payment, accounting for 40%.
The reasons for the risks include owner embezzlement, property rights disputes, seal up after signing, and embezzlement by brokers or brokerage agencies.
In order to ensure the safety of capital transactions, the Xi’an Municipal Housing and Construction Department has established a transaction capital supervision service platform. Since January 1, 2015, the parties must purchase and sell second-hand houses that have obtained housing ownership certificates within the six districts of Xi’an. Sign the sale and purchase contract through the online signing system of the second-hand house sale and purchase contract of the housing construction management department, and entrust the transaction guarantee agency established by the Municipal Real Estate Transaction Management Center to implement transaction fund supervision.
According to statistics, in the first three quarters of this year, six cities such as Foshan, Langfang, Kaifeng, Zhuzhou, Haikou, and Fuyang issued relevant policy documents for the supervision of funds for second-hand housing transactions, clarifying the requirements and implementation methods of fund supervision.
In addition to government supervision, second-hand housing fund transaction depository also includes bank depository, third-party payment institution depository, and industry professional institution cooperative depository.
Previously, Shell House Search has cooperated with China CITIC Bank, Industrial and Commercial Bank of China, China Everbright Bank and other banks to provide fund depository services. The purchase funds will be deposited by the bank before the transaction is completed, and the funds will be released to the owner's account after the transaction is completed.
Yi Kai, general manager of the shell house-finding trading platform, told the Sino-Singapore Jingwei client that second-hand housing fund custody is an effective means to ensure the security of real estate transactions, and it is also a key factor. This action can effectively avoid the purchase of houses caused by customers in the transaction process. The risk of loss of funds and property rights, to solve the problem of distrust between buyers and sellers.
However, the current second-hand housing fund deposits have not fully covered. According to the monitoring of the Shell Research Institute, in the third quarter of the shell-finding platform second-hand housing transactions, the proportion of single-use fund deposits in 50 key cities across the country was 81%.
The research institute suggested that government departments should strengthen policy guidance and strengthen fund supervision requirements; industry associations take the lead in formulating a model contract for fund custody, which can add fund custody clauses in second-hand housing sales contracts, clarify fund custody methods, amounts and unfreeze Conditions: The brokerage brand strengthens the management of the store system, and stores and brokers are strictly prohibited from handling purchase funds.
(Zhongxin Jingwei APP)
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