2 loan banks review the qualifications of borrowers and sign loan contracts.
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 will deposit the down payment into the bank fund supervision account.
5. After the house transfer is successful, the bank will transfer the down payment to the seller's account.
6. After the buyer completes the mortgage of the house, the housing management center will issue the certificate of other rights (the real estate registration certificate will be issued in the area where the real estate classification system is implemented), and the bank will transfer the loan to the seller's account after obtaining the certificate of other rights.
What are the risks of not supervising funds?
1. Under the premise of not supervising the funds, if the buyer wants to transfer the ownership in full, and the final payment is delayed, the seller will have a very high risk. For example, if the buyer has very little free funds and wants to obtain funds through the mortgage loan, so as to realize the rolling purchase of multiple houses, this will easily lead to the break of the capital chain, which will lead to the seller's inability to recover the final payment, and at the same time, the property right of the house has been transferred and the ownership of the house has been lost.
2. Under the premise of not supervising the funds, if the seller's house is still mortgaged and wants to use the buyer's funds (down payment) to cancel the mortgage, there are risks: the first possibility is that the seller will use the buyer's funds for other purposes, resulting in the house not being released as scheduled, resulting in the house not being transferred smoothly; The second possibility is that the seller's house has a lot of mortgages, and the money paid by the buyer can only solve part of the mortgages, which leads to the delay in the mortgage release of the house. For the buyer, the transaction is delayed and the money and house are empty.
What are the precautions for fund supervision?
1. Bank accounts of the buyer and the seller are required;
2. According to the regulations of the regulatory authorities, you can use the account of the existing custodian bank without opening a new account, but it must be a local account with personal transfer function;
3. If you buy a house with a loan, choose the same custodian bank and open a personal settlement account;
4. If a house is purchased through a loan, the loan bank will transfer the loan to the fund supervision account before handling the property right registration, and then transfer it to the seller's account after the buyer's property right change is successful;
Both the buyer and the seller should keep the relevant documents and passwords, and don't disclose them to others.