When it comes to luxury houses, ordinary citizens (such as me) will have such a picture in their minds.

Private swimming pool, floor-to-ceiling glass windows, gorgeous retro crystal chandeliers, luxurious sofas, spiral staircases, etc., are all the terms that can only be found in luxury villas flash through your mind? But the legendary top ten luxury houses in Guangzhou have now become like this.

It is talking about a certain super mansion in Guangzhou now!

This project is located in Baiyun District, Guangzhou. Recently, owners living nearby reported that their neighbor, once known as the "No. 1 Luxury Home" in Guangzhou, has recently had more than a dozen large hooking machines. They are busy at work and are demolishing some villas in the community. They seem to be tearing them down and starting over. Some of the demolished villas seem to have already been completed.

But what is certain is: this legendary top ten luxury real estate project in the country is indeed in ruins!

Given that the developer had promoted it so much, who knew it would end up being unfinished? So the question is, when buying a house, how do you determine whether the property will suddenly become unfinished?

There are many reasons for the formation of unfinished buildings, such as: the developer of the property under construction goes bankrupt, lack of construction funds, the project involves economic disputes, the developer violates laws and regulations, causing the project to be suspended, etc. Most of this is because the capital chain is broken, the project is not completed, the developer can no longer come up with money, the bank is unwilling to continue lending, and the project cannot be transferred to other investors, but half of the project is left naked in the scorching sun, letting the wind blow. Rain hits.

1. Comprehensive examination of the developer’s strength

The developer’s development qualification level is comprehensively judged based on registered capital, development qualifications, etc. Qualification levels are divided into four levels, with Level 1 being the top. If the developer’s qualifications are Level 1 and Level 2, it means that the developer is relatively strong. By choosing such a developer, the probability of a property being unfinished can be reduced. 80%. This is the most critical point, but it is also the point that most home buyers tend to overlook.

2. Examine the credibility of the developer

Some local developers are less powerful and may have development qualifications of level three or level four, so they must not be able to do so. Buy it? This is not necessarily the case! Especially in places like prefecture-level cities and county towns, most developers are local developers. If you don't buy for them, there will be very few options for buying a house. What is important at this time is to examine the credibility of the developer.

How to check the credibility of developers?

First look at the developer’s reputation. Local developers should have a certain influence in the local area. Through this, you will probably have some idea of ??what impressions and opinions your relatives and friends have about them.

The other is to understand the properties that the developer has developed in the past, and to learn from the owners who have already moved in about the developer's project quality, property management, and whether the properties are delivered on time. If it is not convenient to know directly, you can go to the owner forum on the real estate website to find out.

3. Understand the procedures for project real estate

For a house that can be sold legally, its project should have all "five certificates". The "five certificates" include the "State-owned Land Use Certificate", "Construction Land Planning Permit", "Construction Project Planning Permit", "Construction Project Construction Certificate", and "Commercial Housing Sales (Pre-sale) Permit".

Purchasing a house with all the "five certificates" will not only help avoid unfinished buildings, but will also be beneficial to the later application for property rights certificates. If the "five certificates" are not complete, which means that the house procedures are incomplete, then the application for the property ownership certificate will not go smoothly, and may even drag on for several years.

4. The right time to buy a house

According to statistics, when the main project of the house has been completed 2/3, the probability of unfinished construction can be reduced by 60%. Some house-buying friends, tempted by the low prices of internal subscriptions and unit group purchases, rush to pay before the foundation of the project is laid. As everyone knows, the lack of construction means that the procedures are not in place, and it is still unknown whether the plan will be approved. Especially for urban village renovation projects, there are many unforeseen risks.

5. Check whether the house has been mortgaged

The property rights of the tail house are particularly important to home buyers. Industry insiders remind that when buying a second-hand house, you must first determine whether the sales procedures and property rights of the house are clear, and whether it has been mortgaged by a bank.

Before purchasing, you must first confirm with the seller whether the house has a title certificate and a sales license; then find out whether the house is mortgaged. If there is a mortgage, you must find out the mortgage period and how to release the mortgage; if it is an auction house, you should clarify the property transfer procedures. Whether it has been processed, etc.

6. When buying a property off-plan, try not to make a one-time payment. Negotiate with the developer to pay according to the progress of the property.

The above are some things to note about what an unfinished building is and how to avoid buying an unfinished building. Buying a house is a big deal, so be careful. If you buy this kind of unfinished building, not only will your house be gone, but your hard-earned money will also be hard to get back. Therefore, when buying a house, you must pay attention to relevant matters.

(The above answer was published on 2016-09-13, please refer to the actual current relevant home purchase policies)

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