【#新手教】The village house entry manual | Hong Kong 香港



If you want to get away from the hustle and bustle and keep things, it is best to have a big garden? In addition to luxury houses, village houses can also satisfy your 3 wishes! However, buying and selling a village house and a private house are completely different. Friends who plan to live in a village house must know the following 7 things. 00:22 Selling a village house to pay for the land price? The village houses currently referred to in the market mostly refer to small houses. According to the current village house policy, the indigenous residents of the New Territories can enjoy the right to build small houses at one time, but newly built small houses cannot be sold within 5 years and require land premium to be resold. . For small houses, uncompleted houses need to obtain the contract completion certificate (commonly known as the satisfaction paper) before the land price can be paid. If the satisfaction paper is not found, the bank will generally not grant a mortgage. However, there are still other types of village houses besides small houses. If they belong to “old estates” (the land granted by the government in 1905 “collective government leases”, which generally refer to traditional village houses), there is no restriction on land premiums. 01:08 How difficult is the ownership of the village house? Before signing a temporary contract, it is advisable to check the ownership information, confirm the identity of the owner, the satisfaction certificate, the assignment deed, etc., to avoid future blockages in the transfer. If the village house is sold with a garden roof, it must be ascertained whether there is a lease, whether it is restricted by the government’s lease regulations, etc. Village house ownership does not necessarily include the right of way in nearby passages. If the access road involves private roads, road users have the opportunity to pay “tolls” or even other people’s vehicles are parked at your door. Motorists need to check Clarify the right to use rural roads and solutions to avoid rights of way disputes. A preliminary search can be conducted before buying a village house, and professional advice can be obtained from a lawyer if necessary. 01:55 Does the village house have property management services? Although the new-style village houses are gradually becoming “housing”, with gates, parking lots, playgrounds and other supporting facilities, most of the village houses do not have property management companies. There will be no 24-hour security, closed-circuit television, etc. The security will be relatively low, and you need to pay more attention when entering and exiting. In addition, not all village houses have independent sewage drains, and even village houses managed by housing estates have the opportunity to have several households sharing a septic tank to dispose of sewage. The owner is responsible for regularly cleaning the septic tank and treating daily sewage. The cost of waste discharge is shared by users. I have to mention that village houses generally do not have a property management company to handle household waste. Residents have to go to the central garbage collection station managed by the Food and Environmental Hygiene Department to remove the garbage. Some estate-style village houses charge garbage fees to provide garbage disposal services. 02:55 Is it difficult to apply for a mortgage for a village house? In the past, the mortgage ratio of village houses could only be 50% or 60%, but since the mortgage was relaxed, village houses under 8 million can apply for up to 85% of the mortgage. However, village houses that belong to “ancestral” or “tang” properties, have resale restrictions, and are off-the-plan are not eligible for mortgage application. In terms of repayment period, in principle, the longest is 30 years, but many banks only make it 25 years at the time of actual approval. If you choose to apply for mortgage insurance, the maximum repayment period will be calculated as “55 minus”. For example, if a village house is 35 years old, the longest mortgage repayment period is 20 years (55-35 years). In addition, since banks need to entrust appraisers to inspect properties before appraisal, the approval time is generally longer, at least one month or more. . It is recommended that buyers prepare more sufficient funds to meet the additional initial expenses. 03:58 Village houses are often undervalued? The trading of village houses is relatively slack, and banks lack reference indicators, which is prone to undervaluation. If you want the valuation to be close to the transaction price, you can choose a larger estate-style village house and apply for mortgages from different banks at once to obtain the valuation closest to the transaction price. Prospective buyers should pay attention to whether the property has unauthorized construction or breach of land lease. Once a violation is found, the loan amount granted by the bank will be conservative and even refuse to grant a mortgage. In addition, the right of way around village houses is more complicated than private buildings. If the right of way around the village houses is unclear, it will also affect the mortgage approval. Village houses involve more documents than foreign houses, and the transaction process is more cumbersome. 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