Buying a house with a loan requires a certain percentage of down payment. The down payment for buying a new house is usually paid to the developer on the day of the commercial house purchase contract, while the down payment for buying a second-hand house is given to the seller. , the payment time is not fixed, so when will the down payment for the second-hand house be paid? Let’s take a look with the editor below.

1. When to pay the down payment for a second-hand house

The down payment for a second-hand house is generally paid to the seller when the property is transferred, and the time and amount of the down payment depend on the buyer and the seller. This will be agreed upon when signing the transaction contract. If the second-hand house purchased is the first home, the down payment is generally 30% of the appraised value of the property. If the second-hand house purchased with a loan is the second home, the down payment is 50% of the appraised value of the property, while the third home must be paid in full. If you pay with down payment, no loans are allowed, so there is no down payment.

2. What are the procedures for purchasing a second-hand house?

1. Purchase a second-hand house with full payment

Purchasing a second-hand house with full payment requires viewing the house and reaching a house purchase and sale agreement. , pay the deposit for the house purchase, close the house, pay the down payment, pay taxes, obtain the new real estate certificate, property delivery, pay the final payment, etc. The whole process will be relatively compact and only takes about 20 days, including the time for viewing the house. It takes longer and more time to compare several houses before you can buy the right one.

2. Purchase a second-hand house with a loan

In addition to the above processes, you also need to submit a loan application, sign a loan contract, property evaluation, third-party guarantee, and bank approval. , get the loan contract, register the house mortgage, bank lend to the seller, etc., so it takes a little longer.

Editor’s summary: The above is an introduction to when to pay the down payment for a second-hand house. The down payment for a second-hand house is generally paid to the seller when the property rights are transferred. I hope the content shared by the editor can give you some reference. If you want to know more relevant knowledge, you can follow our Qijia.com information.