Mr. Lin of Beijing recently took a fancy to a set of second-hand houses with a total price of 6.3 million, and prepared to buy them by loan. The real estate agent suggested that they take financial supervision in the transaction, but the seller said that he needed money urgently and hoped that Mr. Lin would directly pay him a down payment of nearly 2 million yuan without financial supervision.
Mr. Lin is hesitant and wants to know: Is it necessary to supervise the funds? What is its significance? Will it affect the seller's collection time?
Answer:
Fund supervision is also called "third-party supervision". Specifically, in the second-hand housing transaction, the transaction funds of the buyer and the seller are directly deposited into the "special account for fund supervision" opened by the real estate administrative department in conjunction with banks and institutions with guarantee qualifications, and the funds will be transferred from the "special account for fund supervision" to the seller's account after the property buyers transfer their ownership within the prescribed time limit.
From this point of view, although fund supervision is not mandatory, it is actually similar to the "Alipay" platform in online transactions, and its main purpose is to ensure the asset safety of both parties to real estate transactions. For the buyer, the transaction funds are transferred through fund supervision, which avoids the risk of malicious fraud by the owner and the other party's failure to cooperate with the transfer after the funds are delivered; For the seller, through the supervision of funds, it can ensure the smooth arrival of funds after the transfer of the house, dispel their concerns about payment after the transfer, and promote the smooth progress of the transaction.
So, what is the operation process of fund supervision? Wheat field real estate professionals pointed out that the current popular and relatively safe supervision method is four-way supervision (buyers and sellers, banks and intermediaries), that is, buyers and sellers provide their own documents, bank cards and power of attorney for fund supervision, banks generate electronic custody accounts, and then the two sides sign a four-way supervision agreement, and the down payment is transferred to the supervision account. After the house is transferred, the bank will transfer the down payment to the owner's personal bank card after seeing the photos of the new house. If there are special circumstances, buyers and sellers can also take their own certificates and go to the bank that can handle the fund supervision business for tripartite supervision (buyers and sellers, banks).
Regarding whether the fund supervision will affect the seller's collection time, wheat field real estate professionals said that the supervision period depends on the contractual agreement between the two parties. On the whole, the current supervision cycle of second-hand housing transaction funds (from the time the buyer deposits the money into the supervision account to the time the funds are unfrozen to the seller) is generally 1-2 weeks; Although the seller's collection time may be slightly extended, in order to ensure the safety of both parties' funds, fund supervision is still very necessary. If the seller is in a hurry to use the money, he can also communicate with the bank after the transfer to speed up the time limit for unfreezing the funds.