Because of a “divine operation”, the new Shanghai property Jing’an Fuxin Ming Yuan (promotion name: Longsheng Fuxin Li) is on fire!
Recently, many buyers found that the property requires that loan customers need to pay in full within 60 days, that is, within two months to complete the mortgage loan contract with the bank, the bank to complete the entire mortgage process, if late, in addition to a large amount of default, the house will also be taken away.
However, it is difficult to complete the bank loan within two months, in other words, to buy a house can only be prepared to pay in full.
What is this all about?
Pay the full amount within 60 days or the house will be repossessed!
On April 28, two days before the original subscription opening time, the first financial reporter came to Shanghai Jing’an new property Fuxin Garden as a home buyer.
The site staff introduced that the property obtained the pre-sale certificate on April 26, with a total of 119 suites at an average price of 132,000 yuan, with the smallest room type of 183 square meters and a minimum total price of about 22.25 million yuan.
The subscription rules show that the subscription deposit for the project is 6.5 million yuan, and the down payment ratio is 35% for the first suite and 70% for the second suite.
In principle, the remaining amount can be paid through bank loans, which are usually issued in a period ranging from 3 months to 6 months.
However, the payment time required for the project is shorter than the mortgage issuance cycle. Some media reported that the project requires full payment within 60 days. “We only require payment time, whether you are in full or mortgage.” The staff member mentioned above said, “Failure to pay within the specified time is considered a breach of contract.”
Image source: look at the news
Another look at the news reported that when the reporter asked at the property whether loans are available? The salesman said, no.
But then changed his mind and said, “It’s not impossible, we want 60 days to pay off.”
So, what are the consequences of not paying off in 60 days?
In this regard, the salesman said, to bear the liquidated damages, which is based on the proportion of the total price, or according to the proportion of the pledge, after the liquidated damages, the house will be taken away, written in the contract.
Image source: Look at the news
Sales staff confessed that if the loan to purchase a house, to pay in full within 60 days, the bank is generally unable to complete the mortgage process. “Almost can not come down, at present we speak is the Agricultural Bank and we have a partnership, but the current bank cycle are longer, are three or four months and six months.”
And by then, according to Newsroom, a salesman had said that a house priced at more than 20 million, once overdue, not only the house can not be bought, but also bear more than 3 million in default.
The developer involved is the listed company Zhejiang Longsheng grandson company
According to public information, the developer of Jing’an Fuxin Garden is Shanghai Beihang Real Estate Development Co.
Image source: Qixinbao
In the 2020 annual report, Zhejiang Longsheng said that the main structure of Longsheng-Fuxinli project was completed and topped out, the residential sales display center and model house were opened to the public, the quality was highly recognized by the market, and the pre-sale of the project was imminent, which was expected to have a large net cash inflow from operations.
The annual report shows that in 2020, Zhejiang Longsheng achieved total operating revenue of 15.605 billion yuan, down 26.96% year-on-year, and net profit attributable to shareholders of the parent company of 4.176 billion yuan, down 16.86% year-on-year. Among them, the real estate business achieved revenue of 178 million yuan, a sharp decline of 92.7% compared with the same period of the previous year (2.436 billion yuan).
What does the developer intend to do with this move?
The practice of requiring full payment within 60 days at Longsheng Fuxinli is undoubtedly a deliberate attempt to set a barrier threshold, which is tantamount to “forcing out” loan customers in disguise.
For the fresh and improved demand, most need a bank loan to help buy a house, and the developer of the loan for a limited period of time, and obviously more stringent than the actual lending time, and even hope that consumers pay in full for the purchase of homes.
The obvious purpose of doing so is to accelerate the return of funds.
At the same time, the property does not seem to be worried about selling.
Previously, home buyers Chen Jing (a pseudonym) has told reporters that he was only concerned about the news that Longsheng Fuxinli was going to open at the end of April, the viewing time was late, and the attitude of the sales on WeChat at the time was poor.
“Enough customers stored, will soon begin to subscribe to the fundraising, do not need new customers.” The staff at the sales office told Chen Jing.
According to another report from Newsroom, the reporter met a gentleman in Longsheng Fuxinli who came to the sales office with the intention of purchasing a house, and it turned out that he heard that the subscription was temporarily called off and came to inquire about the situation.
It is understood that this home buyer is also because the mortgage loan is too late, in order to meet the developer’s demanding requirement of closing the final payment within 60 days, is preparing to do a mortgage loan, about a month to release the money.
In this regard, the purchaser said: outside mortgage loans nearly three months, three months they can not wait, not only this property so, other properties are also like this, ran several properties, are to you take cash in full, I can not take out the full amount of ah.
The regulator urgently take action
In the evening of April 29, the Shanghai Real Estate Transaction Center website “online real estate” released an announcement.
The announcement shows that the masses have complained that the four properties in Jing’an Fuxin Garden, Pudong Hefei City Garden, Jiading Cloud Residence and Nanshan Hongqiao Summit have violated the rules of subscription, of which the Fuxin Garden property has been subscribed to the public. The relevant district housing department is investigating and verifying the investigation and verification of the rectification period, suspend the subscription of the Fuxin Garden property.
Interestingly, just the day before (April 28), Longsheng Fuxinli also published a “strict statement” on the official microblogging, warning individual institutions and individuals, taking advantage of people’s eagerness to buy homes, claiming that they can handle false information such as reservation and house selection during the pre-sale process of this project, thereby charging tea fees and brokerage fees to customers who purchase homes Unlawful benefits. It also said that “our company consistently adheres to the principle of honest operation and strictly abides by the regulations of Shanghai government and relevant laws and regulations.”
In just one day, Longsheng Fuxinli soon hit its face, and the subscription was urgently stopped by the competent authorities because of the disguised requirement of full payment from home buyers.
The developer’s wave of “tumultuous operation” is really ugly.
The Jing’an District Housing Authority responded again.
The existence of “picking customers” violation
In this regard, the morning of the 30th, the Jing’an District Housing Authority Market Section Chief Zhang Xinxin said, after understanding, the Fuxin Garden in the payment method, individual salesman asked buyers to pay the final payment within 60 days, there are “picking customers” violations. Jing’an District Housing Authority has asked the enterprise to re-agreed on the payment term on the 27th, and issued a “rectification notice” to the enterprise, requiring the enterprise to implement rectification as soon as possible, reasonable agreement on the payment term, and relevant provisions into the “pre-sale contract” public text, reported to the Jing’an District Housing Authority for the record.
At present, the subscription of the Fuxin Mingyuan property has been called off. The Jing’an District Housing Authority will instruct the project to notify all proposed subscription customers in the first instance and do a good job of explaining the situation. When the project completes the rectification, it will need to reformulate the sales plan and report to the Jing’an District Housing Authority for approval and consent before sales can be made.
Subscriptions have been suspended, the property site is cold
April 30, is the first day of the Long Sheng Fuxinli project scheduled subscription.
But the reporter rushed to the subscription office in the morning, the site is a cold, only a few self-visiting customers to see the house.
Apparently, the interested buyers have long received a notice of subscription suspension.
At the entrance of the project, there was a conspicuous public sign with a notice of suspension of subscription issued by Shanghai Jing’an District Housing Security and Housing Bureau (hereinafter referred to as “Jing’an District Housing Bureau”). According to the announcement, “After investigation, your company has violated the principle of fairness and impartiality and set up loan barriers in the sales promotion of ‘Fuxin Ming Yuan’ project. Therefore, we ordered your company to suspend the subscription activities from April 30, rectify immediately and reformulate the sales plan. After passing the rectification, then declare the sales approval. After the approval of our bureau, only after the subscription sales.”
When the reporter inquired about the payment method as a home buyer, the case sales appeared to be more cautious, replying that the new subscription time has not yet been determined, but as long as the money is prepared in accordance with the respective payment ratio, “we have always been like this.” It also added that regardless of the score can be subscribed, we will follow the requirements of the point system to do.
Talking about the current estimated “shortlisting line”, the salesman said bluntly, “60 points may not be much hope.” And to another pair of home buyers said, more than 70 points will also be a bit hanging.
High-pressure control
The chaos is actually more than one.
This time and Jing’an Fuxin famous court together with the notification of suspected violations, there are also Greenland Hefei East Shanghai, Poly cloud on the Chengguang and Nanshan Hongqiao lead peak 3 projects.
The three projects have been reported online by home buyers, the project has certain provisions for payment methods or final payment arrival time, there are “picking customers” behavior.
In this regard, Shanghai Centaline Real Estate market analyst Lu Wenxi told reporters that this move by the relevant departments conveys a signal to the market that the control of the property market must be very strict, do not take a chance, which has a positive effect on stabilizing market expectations and stabilizing consumer sentiment. At the same time, this also reflects that the regulatory authorities have a very timely and accurate grasp of the new trends in the market, the introduction of targeted initiatives are also very clear.
In addition to the above-mentioned suspended subscriptions, according to online real estate disclosure, so far, the second batch of 47 new properties in the centralized supply, 29 properties have been publicized subscription information, including subscription time, location, contact phone number, as well as the supervision phone number of the district housing authority. Among the 29 centrally announced projects, 3 projects started subscriptions today, and another 14 projects will start subscriptions one after another during the May Day holiday.
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