Housing News
- New pre-owned housing contract versions
Date: 7-Aug-2007 Sources: (Shenzhen Daily)
TWO new versions of contracts for pre-owned housing transactions took effect last Wednesday.
The new versions are expected to help regulate the real estate market and better protect the legal rights of all parties by defining the legal relationships between them. According to the contracts, brokers will receive no more than 20 percent of the total brokerage fees when the agreement is signed and all the fees only upon the signing of the official transaction contract.
Before the new contracts, many sellers signed two contracts with buyers, with the one submitted to the tax bureau understating the price to evade tax.
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