[#新手教]Precautions for purchasing “No Deed Building” and “Smashed Deed Building” | Hong Kong 香港
Property prices in Hong Kong are high. In order to get on the bus successfully, wage earners will often retreat and choose the “non-deed flats” and “broken deeds” that are attracted by asking prices. Is this type of unit really worth buying? Will there be any “significance” in investment? Immediately dismantle and purchase “No Deed Buildings” and “Broken Deed Buildings” need to pay attention to. The difference between “non-deed property” and “broken deed property”, as the name implies, “non-deed property” refers to the seller’s failure to provide the buyer with the entire property deed or the lack of some important documents in the property deed, such as a deed , Power of Attorney or Agreement of Sale and Purchase. There are many reasons for the failure to provide the property deed. Loss of the owner, loss of the lawyer’s office during the transaction, and the property from the adversary encroachment are all common reasons. The “broken lease” mainly occurs when the property is held by multiple persons. For example, when a unit is owned by a family of four each holding 25% of the property rights, after many years one of them has sold 25% of the property rights due to financial problems, the sold 25% of the property rights and the remaining 75% of the property rights will also become ” Broken Qi Building.” Mortgage transfer is even more difficult. If the owner loses the title deed, he can entrust a lawyer to take the oath of the lost title deed. Once the procedures for making up a copy are completed, these title deeds are also legally valid. However, banks will decide whether to approve mortgage loans based on individual circumstances. Therefore, even if you are self-occupied, it is best to ask whether the bank will approve the mortgage before buying a non-deed property, or to ask the mortgage referral company to find out, so as to avoid the final settlement. Since the vast majority of people do not buy a property with a “one shot” transaction, they usually buy the property by paying for the first installment of the property and then cooperate with the mortgage. The shortcoming of difficulty in applying for a mortgage will greatly reduce the attractiveness of the property. Even if a buyer is willing to receive the goods, the price must be at least 30% discount to the valuation based on past experience. The ownership issue must be clear. Because the bank owner is ordered by the court, the bank owner can take back the property for sale. This basically ensures that the owner and the seller are the same person, but if the owner who does not have the mortgage burden sells the undeeded property, it must Be extra careful. The buyer can ask the agent to investigate whether the owner and the seller are the same person. If the seller claims to be authorized by the owner, or cases of inheritance or adversity encroachment, the buyer should handle the ownership of the property carefully to avoid buying Floor trap. It is difficult to define the right to use a unit. When a buyer buys 25% of the equity, although the purchase price is lower than the market price, it does not mean that they can enjoy the right to use the unit. Buyers need to communicate with the owners holding the remaining property rights to see what their intentions are. Generally, it is desirable to unify the ownership, or rent out the unit jointly, and divide the rent equally according to the proportion of property equity. However, if other owners insist on occupying the property by themselves, they can request that 25% of the rental value of the property be handed over to the new buyer, but this may also lead to legal disputes that are not easy to resolve. All in all, “No Deed House” may seem like a good buy, but in reality there are hidden traps, and you must avoid greed and blind grabs. If you have any questions about “No Deeds” or “Broken Deeds”, please contact our property agent for inquiries! 📌 If you have any questions about the property market or mortgage, please leave a message below or contact our online customer service for inquiries: 👉 HongKongFloorPlans “#美联Confidence Index”: The recent second-hand rebound is over, #美国减息，# Developers are taking advantage of the trend to push Order… Want to know how many #sale orders are there in the market? How much room does the owner have for bargaining? “#美联Confidence Index” tracks changes in online listing prices every week. 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