Legal analysis: Sale and leaseback is a common real estate development and operation mode for commercial real estate developers. Developers divide commercial real estate such as shops and hotels into many plots and sell them to investors, and then developers rent back the commercial real estate purchased by investors. The lease-back period is mostly 3_ 10 years, and the developer enters the commercial operation as a whole, and the developer fixes the rent for each case. Although the auction sale and leaseback mode is not illegal, it is illegal. Before, there was no law clearly stipulating that the sale and leaseback was illegal or the contract was valid, but there were regulations of relevant departments and notices with lower legal rank clearly stipulating that it was illegal. The difference between violation of laws and regulations is that violation of laws may lead to invalid contracts, while violation of laws will generally only lead to the punishment of developers by relevant policies and have no impact on property buyers. In any case, sale and leaseback, a risky sales model, is not allowed and illegal in auction sales. Owners can complain to the district housing construction Committee.

Legal basis: "Measures for the Administration of Commercial Housing Sales" Article 11 Real estate development enterprises shall not sell unfinished commercial housing by after-sales charter or disguised after-sales charter.