1. Both parties establish a channel for information communication. The buyer learns about the overall condition of the house and its ownership status, and requests the seller to provide legal documents, including property ownership certificate, ID card, and other documents.
2. If the house provided by the seller is legal and can be traded on the market, the buyer may pay a deposit for the purchase (paying a deposit is not a necessary procedure for the purchase of commercial housing). Both parties sign a house purchase contract (or called a house purchase agreement). After both parties reach an agreement through consultation on the location of the house, ownership status, transaction price, delivery time of the house, house delivery, ownership processing, etc., they sign at least three copies of the house purchase contract.
3. Both parties jointly submit an application to the real estate transaction management department and accept the review. After both parties submit the application procedures to the real estate management department, the management department will check relevant documents, review the ownership, and allow houses that meet the trading conditions to go through the transfer procedures. Applications are rejected and prohibited from being listed for trading if there is no ownership or partial ownership without written consent from other co-owners.
4. Establish a deed. According to the ownership status of the traded house and the purchasing object, the real estate transaction management department reviews and approves step-by-step according to the pre-set approval authority of the transaction department. Only then can both parties handle the establishment of the deed procedures. Now, Beijing has abolished the real estate sales deed in the transaction process, which is commonly known as the "white deed".
5. Pay taxes and fees. The composition of taxes and fees is relatively complex and depends on the nature of the traded house. For example, the tax structure of housing reform houses, dangerous renovation relocation houses, affordable houses, and other commercial houses are different.
6. Handle ownership transfer procedures. After both parties complete the ownership change registration with the real estate transaction management department, the transaction materials are transferred to the certification department. The buyer applies for a new ownership certificate at the certification department with the notification letter for collecting the house ownership certificate.
7. For buyers who take loans, after signing the house purchase contract with the seller, both parties go to the bank together to handle loan procedures. The bank reviews the buyer's creditworthiness, evaluates the house they intend to trade to determine the buyer's loan amount, then approves the buyer's loan. After both parties complete the ownership registration change and the buyer receives the house ownership certificate, the bank will issue the loan in one lump sum.
8. The buyer receives the house ownership certificate, pays off all the house payments, the seller delivers the house and settles all property fees, thereby completing the entire second-hand house purchase contract.
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Office Building - Introduction
Currently, there are two popular evaluation standards in the office building market: Class A office buildings and 5A office buildings. So-called Class A office buildings are actually a common term without a fixed standard because no one wants to be called Class B office buildings. Thus, almost any building with glass curtain walls, elevators, and tall structures call themselves Class A office buildings. In comparison, 5A office buildings do have certain standards, similar to hotel star ratings.
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