[Novice Teaching]Observe the process of buying a second-hand building step by step! | Hong Kong 香港



Second-hand properties are ready to buy and live, and the prices of properties are generally lower than those of new properties in the same district, making them the first choice for many people to get on the bus. In this episode, we will introduce the steps for buying second-hand properties. The first step, the first thing to do to buy a flat is to buy a flat! As the Internet develops more and more developed, in addition to setting up shop, you can also check in online or mobile apps anytime and anywhere. After viewing the center’s water tray, you can entrust an agent to arrange a property inspection and sign an “Estate Agency Agreement”, which is commonly known as the “Paper for Property Inspection.” The agreement will specify the date of visit, unit location, commission terms and other information for prospective buyers. After signing the inspection paper, if you want to buy the unit you have visited, you must go through the process with the property agency you have signed an agreement with, otherwise you may be charged for commission. Step 2 Property Appraisal After finding the desired property, the next step is to find a bank to make an initial appraisal of the property to determine mortgage terms such as mortgage interest rate or repayment period. After receiving the bank valuation, the buyer can negotiate with the owner through the property agent until both parties are satisfied. Step 3 Sign the temporary contract After the buyer and seller have determined the basic terms of the transaction price, transaction date, etc., they must sign a temporary sales and purchase agreement, commonly known as a temporary contract, and the buyer needs to pay a temporary deposit, commonly known as a fine order, usually 3% to 5% of the property price Not waiting. Step 4 Apply for a mortgage and the buyer can formally apply for a mortgage loan from the bank with a copy of the temporary contract. It is recommended to apply for about 3 to 4 banks. Too many applications will affect personal credit. Therefore, it is advisable to compare the mortgage plan details and discounts of each bank before submitting the application. Step 5 When appointing a representative lawyer to handle the formal sales and purchase agreement, the representative lawyer must be appointed. The seller’s lawyer will prepare a draft of the formal sales and purchase agreement, and then send the draft to the buyer’s lawyer for review, and the lawyers of both parties will reach an agreement on the formal contract. Step 6: Sign the formal agreement for purchase and sale. Generally, the buyer and seller will sign the formal agreement within 14 days after signing the provisional agreement. The buyer pays the stamp duty and deposit through the lawyer. The big order is 5% to 7% of the property price, which means that the “fine order” and the “big order” usually equal 10% of the property price, and then the buyer’s lawyer arranges for the printing And send it to the Land Registry for registration. Remember to note that once the buyer fails to sign the formal contract as scheduled, it will be deemed to have given up the transaction, and the owner has the right to confiscate the previously paid details. Step 7: Sign the mortgage contract. The buyer must sign the mortgage contract on or before the day of the transaction. The transaction date is negotiated by the buyer and the seller, and the regular meeting is set within one month after signing the formal sales and purchase agreement. The bank will pay the loan to the seller after the buyer signs the mortgage contract. Step 8: After the building inspection, sign the deed. It is recommended that the buyer check the house last on or before the transaction day to determine whether the auspicious payment can be made smoothly (auspicious payment: the house is empty, and the original owner has not owed any fees). After the lawyers of both parties have reviewed the property deeds to ensure that they are correct, the buyer and the seller will sign the relevant documents, arrange for printing and send them to the Land Registry for registration. After the buyer pays the balance of the property price, the seller formally returns the key. After the transaction is completed, if the buyer borrows a mortgage from the bank, the property deed will be kept by the mortgage bank until the buyer repays the entire loan. When the iron is hot, you can make an appointment with the real estate agent as soon as possible when you look at the central water tray! 📌 If you have any questions about the property market or mortgage, please leave a message below or ask our online customer service: ▄▄▄▄▄▄▄⭐️ Featured videos⭐️ ▄▄▄▄▄▄▄▄ 📺【Novice Teaching】Discover Dawan District 5 “Limited” words order 📺【Novice teaching】90% guarantee on the car FAQ 📺【Novice teaching】Practical guide to renting a building 📺【Novice classroom】Great Bay Area Property Guide United Realty”: Subscribe to the YouTube channel of ” HongKongFloorPlans”: h Like the ” HongKongFloorPlans” Facebook page: Follow ” HongKongFloorPlans” Instagram: Follow public account: meilian_hk ( HongKongFloorPlans Hong Kong).

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