One-time payment means that after the buyer signs a contract with the developer, he will immediately pay off all the purchase price in one lump sum. Generally speaking, there is a discount or discount for one-time payment. The discount for existing houses is about 2%-5% of the house price, and the discount for faster houses is about 5- 10% of the house price.
However, for those who buy faster houses, although they get preferential treatment, the risk of buying houses will also increase, such as the delay of developers' projects, the need for additional funds due to rising costs, and the "one woman and two marriages", which are beyond the control of buyers. It is likely that the loss caused by improper selection of developers will be several times higher than the preferential treatment.
There are advantages and disadvantages.
Mortgage payment means that when buyers buy a house, they apply to the bank for a house loan because of insufficient funds, and the bank approves to obtain part of the loan. The applicant repays the loan principal and interest to the bank according to the mortgage agreement within the specified time.
After applying for mortgage to buy a house, the transfer of property ownership is not carried out at the same time as the delivery of the house. Generally speaking, after the house is delivered to the buyer for use, the seller or the bank that provides the mortgage still retains the ownership of the house until the buyer pays off the loan principal and interest. When the purchaser fails to fulfill the obligation to pay the house price, the mortgage bank has the right to obtain the property right and auction it to pay off the arrears.