A few days ago I saw a piece of news on TV: a nanny in Hangzhou Jia Elder sister want to buy a house there, but her husband strongly disagree. In terminating the transaction, Jia said she hoped to refund some of the agency service fee from the 100,000 yuan deposit she had previously paid. According to the letter of entrustment, the intermediary fee of 35,000 is required to complete the whole transaction, while Sister Jia hopes to pay only 10,000. Unfortunately, the agent refused.
Looking at sister Jia in the camera, dressed modestly, tired and sad, I couldn’t help thinking of her brother and sister-in-law’s similar experience a few years ago. It’s just that they were “lucky” to have a different ending.
The following is what my cousin once told me in detail. He and his sister-in-law bought a house in Hangzhou a few years ago.
1
At the beginning of 2016, my girlfriend and I had been drifting in Shanghai for 6 years. During the Spring Festival, after we met our parents in the countryside in Jiangxi and Hunan, the marriage was put on the agenda.
Back in Shanghai after the holiday, buying a house became our top priority. After looking for several real estate agents in Pudong, we were put off by the high real estate prices, so we had to list several second – and third-tier cities in Jiangsu and Zhejiang. After weighing up the right and left, we unanimously chose Hangzhou as our future settlement city.
At that time, I worked as a software engineer in an IT company in Zhangjiang with a monthly salary of 14,000 yuan. My girlfriend worked as an administrator in an Internet company with a monthly salary of 6,000 yuan. We pooled our savings together to more than 300,000 yuan, which was almost enough for the down payment.
Since April, we spent weekends and holidays in Hangzhou to explore the real estate sites, in those sales departments and real estate agents, although received warm reception, but as a cash-strapped group of just need, really by the strength of the eviction households and investors left more than a dozen streets.
From the end of spring to early autumn, with the hangzhou house prices climbing all the way, we see Xiaoshan from Xiasha, Yuhang, from the future house, new house to see second-hand house, can choose the house but from more than 120 flat gradually shrink to more than 90 flat, the more anxious. By the beginning of September, all kinds of rumors about the purchase restrictions in Hangzhou were spreading. Stupid like me, I also sensed the seriousness of the situation — we couldn’t wait and see any more.
My girlfriend and I regretted, immediately opened his mouth to ask parents to borrow money. The first day of the Mid-Autumn Festival holiday, we took together 450 thousand, sat in the reception room of an old Yuhang intermediary company.
One cup of tea after another, but we have not been waiting for the attention of the account manager. They get keys, answer phones, run around, and the printer chugs around the desk spewing out documents. I was a little flustered and went to the front desk to urge them. The front desk just apologized politely and said, “They are all busy. Please wait.”
After waiting for more than an hour, I couldn’t sit still. I grabbed a passing salesman and asked eagerly, “We want to buy a house. Can you take it now?”
The young man just shook his head and said, “Sorry brother, I have a client waiting to sign a contract. Let’s find another colleague.”
Just as he was about to leave, I grabbed him and asked, “A house with a better location, about 100 square meters and a total price of 1.4 million, what else?”
The young man paused and said, “Basically, there is no room available now. One set will be ordered right away.”
Hearing this, the girlfriend was so anxious that straight biao tears. I comforted her: “Rich still afraid can’t buy a house? This street real estate agents, not afraid, we ask one after another.”
Asked about the street corner of the third agent, only to see a sales manager out of a small run, is on the phone, said: “I am looking at the house, will be there soon.” He was followed by a man.
I hurried up and asked, “We’re buying a house. Can we go and see it together?”
The sales manager glanced at me. “What’s the total budget?”
I gritted my teeth: “1.4 to 1.8 million.”
He thought for a while and said to the man behind him, “Manager, they both want to see the house. Within 1.8 million, they can accept it.”
The manager hesitated for a few seconds and motioned us to get on the bus. In the car, the sales manager smiled at me awkwardly, “Brother, the house we are going to see is a second-hand new house, carefully decorated. The owner has asked to pick his own buyer, and now there are five or six groups of customers there, and our manager wants to buy. The owner of the house brought the property ownership certificate and said that it would be decided this afternoon. Whoever can buy it depends on fate.”
“Interview for a house?” I couldn’t make head or tail of the intermediary’s words. My girlfriend took me by the hand, the heart is full of sweat.
The sales manager continued, “This house was originally signed off for 1.5 million yuan last month. Unfortunately, the buyer’s credit information was not correct and the bank loan approval was not passed, so we had to cancel the transaction. It’s not a resale of the owner, and now the offer is $1.65 million.”
Up 150,000 a month? ! My head was buzzing.
2
The house is located in a high-end residential area, separated from cars and people, with a good green environment. 89 small room of flat, pattern all sides is level off, of European type style decorate beautiful atmosphere. My girlfriend and I looked at each other with satisfaction.
The owner was a dark, thin uncle, neatly dressed and unsmiling; his wife was more lively. They stand in front of the living room window, patiently answering the viewer’s questions about the time of purchase, the construction and warranty period, what the tile floor is made of, and so on.
We said hello to the couple and asked about the price. They asked us about our work, what we were going to do with the house, how we were going to pay for it, and when we were going to stay, and they were satisfied and agreed to sell us the house.
The interview went so smoothly — it’s not like what the agent said before. Seeing my confusion, the owner’s wife explained that the buyer they wanted needed to have a proper job and good credit, and that the purchase should be for self-use. Most importantly, the buyer would have at least a year to rent back to the owner’s home improvement company and use it as a “model home.”
My girlfriend and I are working in Shanghai and will not move into a new house in the near future, which is exactly in line with the expectation of the couple. My bubbly girlfriend had a good chat with the landlord’s wife, and we both decided to do business in good spirits. After some bargaining, the couple let the price of 50,000 to show their sincerity, the price fixed at 1.6 million. The landlord gave us back one year’s rent ($1,000 per month).
According to the rules, we have to pay 100,000 yuan deposit on the same day, and signed the contract of intention to buy the house and the lease back agreement. Then, the manager said, the agent’s service fee is 2 percent of the transaction price of the house, and the buyer must bear the seller’s service fee as well — that is, we have to pay a total of 64,000 agency fees. Plus 30% of the down payment 480,000, deed tax, less than 2 years of the second-hand house business tax about 120,000, the total expenditure of early nearly 670,000.
I had calculated in my mind that I had borrowed 150,000 from my parents, and now I was facing a funding gap of 220,000. In the later period, I also had to pay the mortgage of more than 6,000 each month — how could I live in the future?
I discuss with girl friend: “bought?”
“What about the money?” The girl friend’s face is sad, “after marriage, give birth to a child also want a lot of money, think all afraid.”
“No, then?” “I ventured to ask.” At the worst, rent an apartment, be debt-free, and be happy.”
The girlfriend suddenly shook her head: “Don’t buy a house, how to get married?”
Looking at my girlfriend’s tears, I took a deep breath and said, “Buy! I’ll take care of the money.”
Seeing our pity, the landlord’s wife helped to bargain with the store manager, who gave us a 75 percent discount and reduced the intermediary service fee to 48,000. This 16 thousand discount, let the girlfriend very happy, but in front of the total cost of more than 1.7 million, it is a drop in the bucket.
I gritted my teeth: even so have to buy!
3
Then, we went to the intermediary company to sign the contract of intent.
Check the property ownership certificate, ID card, copy materials, explain the transaction process and purchasing instructions, clarify the main body of the house, agree on the payment method and amount, etc. When the contract of intent is printed out, it is more than 8 PM.
We had been on the road since we woke up at 6am and were exhausted after listening to nearly two hours of paperwork under the emotional pressure of huge debts. Although I hold the head to look at the contract of intention to buy a house one by one, in the mind is actually calculating how to solve this 220,000 capital gap.
“Congratulations you will soon have their own house, I wish you a happy wedding in advance!” The store manager smiled and said, “What I signed today is only the contract of intention to buy a house, which is the fixed text in the industry. There is no need to read it item by item, but just check the information in the blank. After the purchase qualification examination, the website will be signed to re-sign the official purchase contract approved by the Housing authority.”
Then he pointed to several places marked with a line and took us to check the names, ID numbers, detailed address of the house, the list of furniture and appliances in the house and so on. Then he took out “intermediary commission, service fee confirmation list” and asked us to check the amount and payment instructions.
Homeowners say they are in a hurry to spend money and hope to complete the online signings and down payments within 15 days. My girlfriend and I, worried about the tight schedule, asked for an extension until early November. See us each other, the manager smiled to persuade way, “harmony gains wealth, or each step back”.
Finally, both parties agree to sign online on October 25 and pay the down payment before 31.
The contract shall be signed and fingerprinted by both parties and made in triplicate. We transferred the 100,000 deposit into the bank account of the owner, who issued a receipt. Then, the store manager asked for the custody of the property certificate, said for the relevant procedures.
After all this, it was already 10 o ‘clock in the evening. Although we were tired and hungry, we were in high spirits. The store manager jokingly said to the owner, “Congratulations, this house has earned a BMW.”
The owner’s wife smiled happily. “You’re rich, too! You don’t even have to make a phone call to the customers who come to you. You can earn 50,000 yuan in an afternoon, which is more than the income earned by others in a year. Have you earned a few apartments these months by lifting chengdu?”
The store manager laughed: “I this is to work for the company, nine cattle a hair. Take a customer to see a house every day, legs are thin a big circle, often drive materials in the middle of the night, endure is life. I just managed to scrape together a four-wheeled barrow. How I envy you your apartments!”
Then the manager and the owner’s wife turned the conversation back to us. “Congratulations to you both! At this rate, this apartment will have to be multiplied several times in a few years, so don’t be too happy.”
Everyone laughed. The main room invited us to eat barbecue, the manager refused to way: “the company has a rule, sales personnel can not accept the customer’s personal profit. You go eat and celebrate. I’ll go back to the shop and sort out the materials.”
Dedicated, professional, hard-working, let me add a bit of goodwill to the manager.
At the dinner table, the landlord’s wife talked a lot about the financial construction and subway planning of the new urban area in front of Yuhang Cang, emphasizing the “Ali effect” and the rising potential of this area in the future. She was full of energy and full of the demeanor of an orator.
I drank two beers and my brain was stuffed with information from the day.
4
With the purchase intention contract, my girlfriend and I returned to Shanghai to start a new round of borrowing money.
Limited by the circle, contacts, these ten days I only borrowed 30,000. In the first half of the month to borrow 150,000 parents, basically exhausted the family. It is too difficult to raise another 220,000 in one month. Trapped between skyrocketing housing prices and a lack of funds, we feel guilty even eating bowls of noodles.
On September 19, the housing market in Hangzhou resumed restrictions on home purchases, halting the sale of homes to non-local households with one or more homes. The owner’s wife immediately sent me a message saying that this week’s price had gone up another 100,000, praising us for “getting a head start”. The manager of the intermediary store also sent a message, the notice said that the file has been completed, you can net sign at any time.
Hangzhou, China, Sept. 27 (Xinhua) — Hangzhou issued a new policy on suspending the residency and loan restrictions, raising the down payment ratio and suspending the policy of purchasing houses in the city’s urban area. Those who have signed a commercial house purchase contract on the online signing platform before September 27 are still settled according to the original policy.
The agent called and urged us to register ahead of time: “We can register today, but tomorrow it will be too late. We didn’t sleep last night. We had to go to the housing authority to get the documents. It was a sea of people. My shoes all went out, literally. Come quickly!”
The girl friend is anxious jump feet: “how to do? Today do not go, the account does not fall into can be troublesome!”
The net sign means to sign a formal purchase contract. If we fail to pay the down payment on time, we need to pay a penalty equal to 20% of the house price — 320,000 yuan. If I had an impulse to make a deposit of 100,000 yuan before, I only borrowed so much money in the past few days, which made me see my own poverty and ability. At the head of the steeper precipice, I had to calm down — the stakes were too high and I couldn’t afford to lose.
Looking at her girlfriend, I tried to hold back the pain and asked her seriously: “This house I really can’t afford to buy, you are still willing to marry me?”
Do we have to buy this house?
His girlfriend froze. She sat down at the end of the bed and began to cry, her head bowed. I did not try to comfort her, and the thought that she might leave me made my heart weep.
After a long time, she stopped crying and hugged me and said, “If you can’t afford it, don’t buy it. But you must promise to take me to a different place every year from now on. If we cannot make a home in a nest, let us travel the world with love.”
Looking at her, I couldn’t help calling her silly. The two wept together.
5
That afternoon, we went to Hangzhou to return the letter, hoping to get back the 100,000 deposit.
The store manager after knowing our purpose, changed a face instantly: “the deposit is certainly can’t take back, if the owner because of your default and cause greater economic losses, perhaps even Sue you.”
I was fooled by him and protested weakly, “You didn’t say before that this intention contract is not a formal contract. How can you lose money in addition? For us ordinary office workers, 100,000 yuan is not a small amount. We couldn’t raise enough money to continue the deal, so We came to discuss it with you.”
“Deposit is not here, you give who want to look for who. I am too busy to receive you today.” The store manager said, then climbed into the mountains of purchase contracts and a house full of buyers to sell home, no longer ignore us.
Informed of the situation, the owner and his wife arrived. The owner’s wife complained bitterly about us backing out and showed us a transfer voucher for $200,000, the deposit they had transferred to another townhouse owner the other day: “You’re still trying to get $100,000 back. Have you ever thought about how much trouble this would cause us?”
I have a poor tongue, but my girlfriend is clever. She proposed that the owners “resell,” so long as they find a suitable new buyer by Oct. 25, complete the online visa, make the down payment by Oct. 31 and proceed with the sale, so that the couple’s ability to finance the townhouse would not be affected.
The owner is not happy, say now buy a house all is investment guest, can meet very rarely can let them return to rent a year just need a buyer: “you that house, it is me to get the best one, it is to take the hand to decorate a work.”
The owner’s wife shouted, “What time is it and you’re still thinking about your renovation? A set can earn tens of thousands of pieces on the ceiling, now the focus is row house! Or we can sell the old public house in the city, where the rental rate is low and the space for appreciation is not as big as here, so we can take this opportunity to sell and withdraw our funds to invest in the townhouse.”
The owner did not agree to sell the old public house and criticized his wife for being too radical. The landlord’s wife reproached him for his inflexibility and seeing no such good earning opportunities. They argued and argued as if they had completely forgotten about our deposit refund.
Girlfriend in the side advised: “you are for this family, eldest brother elder sister don’t quarrel.”
Hearing these words, the homeowner’s wife seems to have met a bosom friend, pulled his girlfriend endless talk about his bellyful grievances. The two women talked and sang for a long time, and the owner and I were hung aside to make conversation.
Fortunately, the girlfriend finally persuaded the landlord’s wife, she decided to agree, as long as we can find a new buyer and keep the deal, they will refund the 100,000 deposit. She understands the difficulties of our poor young people, and also loves a clever and sensible girlfriend. Moreover, she thinks that the price of this house can be increased by 50,000 to 100,000 yuan, and proposes that the part beyond 1.6 million should be theirs.
My girlfriend and I gratefully agreed.
We approached the manager about the situation and wanted to terminate the transaction. The manager ignored us, saying he was busy and would talk about it in a couple of days. My girlfriend and I had to walk back to our house unhappily.
6
After making the decision not to buy a house, the two of us relaxed and went out to have a hot pot together.
I asked my girlfriend, finally get back how much deposit is acceptable? She wanted to say, if found a new buyer, deposit back to 80,000 on the line, to the landlord and the intermediary side posted 10,000, all when we apologize. Then we talked about the manager’s cold black face, and both of us had no idea where things were going.
During the National Day holiday, we came to Hangzhou again and waited in the intermediary store all morning. Finally, we met the manager. After informing him of our predicament and the remedial plan after communicating with the owner, he did not speak, but stood up and took out the intention contract signed before, highlighting the following three contents:
(1) If Party A (the buyer) breaches the contract, Party B (the seller) shall have the right to confiscate the deposit of 100,000 yuan and pay 50% of it to Party C (the intermediary) as expenses incurred by Party C during the transaction. Upon receipt of the payment, Party C shall return the property ownership certificate to Party B.
(2) If Party B (the seller) breaches the contract, it shall return double of the deposit received, and Party A (the buyer) shall pay 25% of the deposit to Party C as its activity expenditure during this period. After the payment, Party C shall return the property ownership certificate kept by Party C for Party A.
(3) After this Contract of Intent is signed by both parties, if the premises cannot be traded or is not traded through Party C due to party A and Party B’s unilateral or bilateral reasons, the breaching party shall pay the intermediary commission/service fee agreed upon by the signing parties to Party C.
The girl read the letter of intent and asked in surprise, “Does this mean that from the moment we sign this LETTER of intent, we will have to pay you for their problems or for our reasons, whether it’s canceling the deal, interrupting it, or moving elsewhere?”
The manager nodded unperturbed.
My in the mind big cry fall into the trap, regret at that time when the signature did not check one by one, the store manager some sweet words let me oversight. I completely did not expect this to be called in that day by him “only intention contract, not formal purchase contract” document, actually hide such a trap, and that and intermediary signed separately “service fee confirmation letter”, but is a cover up.
I pointed out article 1 and asked him, “Party B has the right to confiscate, which does not mean that party B has the right to confiscate all of them. Does this mean that if the landlord is willing to refund 80,000 yuan to me, they will confiscate 20,000 yuan and only pay you 10,000 yuan?”
The manager’s mouth flickered with a sneer: “I have told you before, the deposit is definitely not back. If the homeowner has more money to lose because of your default, they may even Sue you.”
Girlfriend asked: “If we find a new buyer as soon as possible, continue the transaction, the owner will not have a financial loss or even may rise tens of thousands of pieces, that our deposit can not get back?”
The store manager lost his patience and simply said, “You said you could keep trading? How to trade without property ownership certificate?”
I understood immediately, originally, before the store manager requested “custody of property rights certificate”, in fact is the seizure – this is the intermediary to restrict the owner’s killer.
Understand one of the road son, the girlfriend compromise: “ok, we pay you 30,000, when is your hard work, you give the house property card back to the landlord.”
However, the request was rejected by the store manager: “50,000.”
“You only charged $48,000 to complete the whole transaction, but now you don’t have to pay $50,000 instead? !” I was a little surprised at the manager’s big mouth.
The store manager refused to let him: “For this transaction of yours, the service fee was 64,000, and a discount of 75 percent is already a special discount. Now terminate the transaction, according to the contract of intent, I will take half of the deposit. It’s clear in black and white, and you two have signed and fingerprinted. After that, I’ll have to find you new buyers, and I haven’t charged you extra for that…”
“The new buyer also can pay you intermediary fee, a transaction charges two fees, you still not satisfied?” My girlfriend gritted her teeth in anger.
The manager smiled and did not answer, under the eviction order: “you think again, please go back first.”
7
At the same time, I set about entrusting several other agents to hang out to find a new buyer. At the same time, I consulted a lawyer and called the citizen hotline and the housing authority. Several agents said they could not be officially listed without the property ownership certificate, but they could take clients to see the house first and urged me to get the property ownership certificate as soon as possible.
The lawyer of toll-free hotline explained that the contract of intent already signed also has legal effect, since already agreed liability for breach of contract, need to abide by, if feel this belongs to overlord clause, can complain to consumer association, go to court to apply for annulment contract next.
Only the housing authority to bring a bit of good news: personal property card belongs to private goods, any intermediary has no right to seize. The person that belongs to house property card just comes to want, if intermediary does not give, can complain to room management bureau directly, also can report to the police.
With the support of the housing authority, we excitedly about the owner to meet again, together to go back to the property ownership certificate. But the landlady pleaded, and let us take it up first.
The change in the couple’s attitude gave us a vague feeling that something was wrong and that our hard-won confidence had collapsed. But for that $100,000, we went back to the agency. The store manager ducked out of sight and other staff members shuffled around.
Seeing this situation, I decided to follow the housing authority’s advice and directly report to the police. Soon, the three district policemen arrived. After I had summarized the matter, one policeman asked, “You signed the agreement and paid the money, but now you go back on your word. You want to get the money back, right?”
“Asking for money is a different matter,” I corrected. Today I came to ask for the property ownership certificate, which belongs to personal belongings, and the intermediary has no right to seize it.”
The police called the store manager to ask about the seizure of the house property card, the store manager took out the contract of intent, the responsibility for breach of contract read to the police. After hearing this, the police began to educate me: “It is clearly written on the contract that if you want to take back the property ownership certificate, you must pay them 50,000 yuan. If you don’t want to pay now, you have to take the certificate back. We can’t help you.”
Again, I said, “It’s against the law for them to forcibly seize the property ownership certificate. Don’t you care?”
“What I say of contract dispute does not calculate, you seek a court to mediate.” The police let me sign on the police record and left.
As the police car away, the intermediary shop even sounded applause. My girlfriend and I were down in the dumps. The manager stopped the heckling of the staff and invited us to the conference room for a talk.
Just sit down, the girlfriend carried out the machine gun: “this transaction is just the beginning of a small step, you took to see a whole afternoon, printed a few materials, will be charged 50,000! Does that make sense to you? Black intermediary, you bully too much!”
Store manager bluntly said: “this matter, it is useless to call the police, it is useless to find the housing authority. Want to take back house property card to have to come forward by householder, but householder and you are not friendly not reason, in order to sell house as soon as possible, they just won’t help you and intermediary fight. If you go to the court, how long will it take you to get there? You will have no time to repent when your contract is due in late October and your house is empty.”
“Fifty thousand, you are the daylight robbery. I don’t believe that nobody can control you to make such black money!” ‘I said firmly.
The store manager snorted, “Based on my experience, you are very lucky to get the 50,000 deposit back.”
8
While we were still fuming about what to say, the manager changed the subject and said something he had experienced the other day:
That day, he ran into a former customer on the road, the man wanted to buy a house two years ago, the store manager has recommended a lot of houses to him, and advised him to get it as soon as possible. But he hesitates, money saved not win prices soaring, the speed of the ordeal to later, deposit down payment price difference is bigger and bigger, as trot along the platform gathers up the train got on one door without effort, such as the train speed is faster and faster, sleep struggling to keep up with the inevitable times again, had to give up, just stood on the platform at the car market. This time they meet again unexpectedly, the man blamed the manager with tears in his eyes, “Why didn’t you force me to buy a house with a knife?”
Then the manager smiled, “It is beyond reproach that I am an intermediary who makes money by service and also by opportunity. However, I would like to say more about this matter. The present difficulties are only temporary. I broke my bank when I bought my first house. I’ll just get over it. This house of yours has gone up now. Even if it doesn’t, it will be very good for you to live by yourself as a gang in need.”
I light sigh 1: “affirmation is to want to buy the earnest money that just makes, this now is not impossible, gather together so much money.”
The store manager grandly patted me on the shoulder: “brother, buying a house is a life event, not speaking out of turn give up. As a sales manager, It’s my responsibility to help customers out. Our company has a special loan facility designed to provide short-term liquidity to needy people like you.”
The girl friend stare big eyes: “return can seek you to borrow money? How and how much can I borrow?”
“The loan process is very simple. After filling in the application materials, the loan can be made in 3 to 5 days. We guarantee that it will not be included in the credit investigation scope and will not affect the later bank loans. Depending on what you need, you can borrow hundreds of thousands or millions of dollars. We mainly target buyers who have a gap in the down payment, and have a professional team to provide the entire service from house viewing to obtaining the property ownership certificate.”
Girlfriend obviously moved: “specific how to borrow? Where’s the interest?”
Store manager is concise and to the point way: “the house property card does his piece of card can loan. Our rates are the lowest among our peers, at 7‰ per day or 2% per month; The service charge depends on the length of the loan and how you pay it back, such as a one-year lump sum and a fee as low as 5 percent — a drizzle compared to the value of the home.”
After the quick calculation, my heart thumped the drum: “Thank you for your advice, we go back to think about it.”
The manager graciously steered us to the curb. “Think again, both of you, and feel free to contact me if you have any questions. Don’t give up so easily. I’ll try my best to help you buy a house.”
Back in Shanghai, I consulted a professional lawyer in case there was a pit I didn’t expect. Sure enough, through various understanding, the “special financial services” that the store manager is keen to provide is actually an illegal act of using leverage to make profits.
Article 5 of The Opinions on Strengthening the Administration of Real Estate Intermediaries to Promote the Healthy Development of The Industry clearly stipulates: Intermediary institutions shall not force the client to choose the financial institutions designated by them, and shall not provide or cooperate with other institutions to provide illegal financial products and services such as down-payment loans; A financial institution may not cooperate with an intermediary institution that has not filed a record with the competent real estate authority to provide financial services.
In other words, while a “down payment loan” can reduce a buyer’s actual down payment to about 10 percent, it is illegal.
I and girl friend calculated, if with intermediary loan 200 thousand, 1 year time one-time reimbursement, we need to pay the poundage of the interest of 48 thousand and 10 thousand, apportion arrive every month namely 21500 yuan. And “he piece authority card” have huge risk, if we cannot as promised repay debts, intermediary company has authority to dispose mortgage building lawfully, and in dispose mortgage building income price, “have priority to be compensated”.
Girlfriend some confused: “now the house property card is the owner’s name, we take what mortgage to the intermediary to borrow the down payment? When we look for a bank loan for a 30-year mortgage, will we be able to re-mortgage the property we have ‘borrowed’ to the intermediary?”
I guess: “the intermediary is probably after we passed the bank loan, get the real estate license, the remaining amount of the housing loan set him a warrant, the second mortgage… I don’t know exactly, but it’s a big risk and a big hole. If we have to pay such a high interest fee, we should pay our relatives and friends, even if later when we are in great difficulty and may have to delay repayment, they will understand and forgive us and will not seize the property ownership certificate.”
9
After finding out the routine, my girlfriend and I decided to continue to buy a house, to be downtrodden bottom fate and rootless rootless future launched a “total attack.”
We apply to our respective work units to advance the quarterly salary and part of the year-end bonus. Fortunately, the boss took good care of his employees and agreed to borrow money. Then we had the cheek again to borrow money from our parents, uncles and aunts. Not only that, we also initiated interest-bearing loans with our classmates and friends to turn their trust into cash, and friends said that there was no need to pay interest, and we would pay it back when we had money after the turnover. We resell tablets, gym memberships, games consoles and all kinds of spare items online to make up a little bit.
Finally, after comparing the installment interest of many bank credit card, select the best to cash out tens of thousands, installment repayment. We tried our best to gather resources from all sides to get closer to the “220,000”. After more than a month of hard scalp forced attack, the bank card finally more than nearly 200 thousand.
Before we can chew this period of time accompanied by the intense pressure between human warmth and cold, we were quickly involved in the surging wave of home buying, no retreat, no gasp:
On October 25, we paid off the downpayment of 480,000 on October 31 as agreed by the intermediary online visa, prepared the necessary materials for the loan, and went to the bank to register the mortgage of the pre-purchased commercial housing, waiting for the loan.
Finally, in early December, the agent informed us to handle the property transfer.
We sat in the office hall of Yuhang “citizens’ home”, taking the number and waiting. I looked at a face of joy girlfriend, long suppressed emotions, in this cold morning, gradually was melted: we will have a belong to their own home.
In the middle of January 2017, near the Spring Festival, we got the house property certificate, which was very red.
Not as ecstatic as we expected, we calmly collected our certificates and spread out our debt records. Excluding the 30 consecutive years of bank mortgage, around 6000 yuan per month, our down-payment related debt repayment task still needs about 5 years to pay off. In order of urgency, we jot down plans in our notebooks, crossing out each payment in red ink.
As you can imagine, this debt repayment plan will be chasing me and baking us like a fire for quite some time.
Afterword.
After the Spring Festival, we found a human resources service agency to pay the social security for three months and transferred my hukou to Hangzhou in the way of “talent introduction”, at a cost of 8,000 yuan. After two years of marriage certificate, the girlfriend will settle down as “husband and wife refuge”.
That month, housing prices soared as restrictions on purchases in Hangzhou were upgraded.
I was only glad, and a little afraid, but not much excited. For us, the house is a rigid demand, the rise or fall is just a virtual number. For at least the next five to 10 years, my goal will still be to earn money to pay off debts, fill a depleted household, and save as much as possible for children and the elderly.
I gave up my leisure hobbies, improved my professional skills, and got a better-paid job. I practiced all kinds of ways to make money, learn financial management, and increase income and reduce expenditure. My girlfriend said That I have become mature and brave, in fact, I have become more timid.
Before I bought a house, I was laid back and muddled along. Since the payment of the 100,000 house deposit, I look forward and backward, sitting and sleeping difficult. After I made the down payment on the online visa application, I was once so scared that I even felt nervous when crossing the street. I became very afraid of death, afraid of the slightest accident.
I still remember the smile of the black intermediary when I wanted to go back on my word after I paid the house purchase deposit. That face was like a hammer, gradually hammering my once tender glass heart into steel to guard our home.
Maybe life is a slow hammer.
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