What is the function of real estate license?
1. Real estate license is an important legal document issued when real estate is sold, exchanged, leased and mortgaged. Property without a good real estate license cannot be traded. The first step in any real estate transaction is to verify the authenticity and validity of the real estate license. It can be said that the real estate license is the basic legal certificate for all business transactions.
2. Real estate without real estate license cannot be transferred, donated or inherited. Again, before getting the real estate license, the buyer can't be regarded as the legal owner of the property. It is also impossible to exchange, lease and other forms of real estate transactions. Even if relevant contracts or agreements are signed, they will be deemed invalid and cannot be protected by law.
3. Real estate cannot be pledged or pawned. Before obtaining the real estate license. Unable to obtain loans or bear other civil liabilities through property pledge or pawn. When the land where the real estate is located is requisitioned or the house is demolished, according to the national policy and relevant demolition regulations, the compensation for demolition cannot be obtained.
What are the risks of buying a house without a real estate license?
1, default risk
Because the house has no real estate license, it takes a long time from paying the deposit to signing the contract to transferring the ownership. During this period, the market may fluctuate. Once the house price rises or falls too much, there may be a risk that one party will default, and then the passive party can only eat Rhizoma Coptidis.
2. One room sells more.
In the absence of real estate license, there are many cases of selling more than one room. Because the house does not have a real estate license, if you encounter a debt-ridden owner, you may sign a contract with multiple buyers at the same time and collect a deposit or down payment. Disputes are inevitable.
3. The down payment is higher
Generally speaking, the owners will ask for a higher down payment when selling the property without real estate license, because most owners are in a hurry when the real estate license is not handled, and generally encounter difficulties in capital turnover.
Because there is no real estate license, it is impossible to apply for a house purchase, so buyers will be required to pay a large down payment in advance, so the pressure on buyers will increase.
4, unable to mortgage
A house without real estate license takes a long time from signing to transfer. If the buyer is in urgent need of money after signing the sales contract and paying the down payment or house payment, the house cannot be used as collateral to borrow money from the bank.
5. Seizure risk
Without the title certificate, the house cannot be transferred to the buyer. Even if the two sides signed a house sales contract, the property right of the house is still in the hands of the original owner. If there is a debt dispute with the original owner, the property is likely to be sealed up by the court during the contract period.