May I buy a second-hand house in Beijing?

May I buy a second-hand house in Beijing?
Jan 21, 2008 00:20
JIMMYB Points: Join Date: Feb 7, 2007 Status: offline	As the Olympic Games is approaching, many locals in Beijing just sign a contract with those foreigners who live in Beijing in short run. Why? They also want to make use of Olympics to make money. To rent their houses to those who travel or watch games during the Olympic Games can bring them much profit. However, it is troublesome for those who work, study or do business in Beijing. To sign a short-term contract with those locals is not good. Thus, many want to buy them second-hand houses, convenient and inexpensive. The problem is that they don’t know the procedure and materials they should prepare. Here are some pieces of useful information. 1.The Chinese government's new regulations: Only a foreigner with more than one year working or living experience in China can buy an apartment in China. The staying period in China will be based on the date printed on the Residence Certificate. Passport needs to be notarized. 2.Those foreigners who want to buy second-houses in Beijing have similar procedure with Beigjing people. The only difference is that they need go to an office to get their permission. Here is the address: 525 Block 3, Henderson Center, No. 18, Jian Guo Men (Inside) St., Dongcheng District. Tel: 65170808. Fax: 65179665. Postcode: 100005 3.Procedure: 1) The seller and buyer should sign a contract with a brokerage firm; 2) The seller and buyer should go to the office mentioned in article 2 to get an permission; 3) Both the seller and buyer should submit materials required to the local housing administration bureau; 4) Finish property transfer procedure and get the property ownership certificate 4.Relevant materials: 1) Hong Kong and Macau residents: the Hong Kong Permanent Resident Card or Macau Resident Card, and the Mainland Travel Pass for Hong Kong and Macau Residents. 2) Taiwan residents: Taiwan residents to and from Mainland China permit or other valid travel permit; 3) Foreigners: passport and residence certificate; if the foreigner doesn’t have the residence certificate, he should submit the notarized Chinese version of his passport. 4) Overseas Chinese: passport and residence certificate 5) The document approved by Check Office of Beijing Foreign Construction Project -- National Safety Affairs; 6) All Chinese versions need to be notarized. 7) Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau; 5. Foreigner also can apply to bank loans. Required materials: income certification; education and credit certifications; Valid down payment certification. Notice: Taiwan resident are not permitted to apply to bank loans. If foreigners’ income certifications are not offered by Beijing authorities, their certifications should be notarized and they should also find a warrantor. Of course, their certifications need to be translated into Chinese. The transfer fee is the same as those locals in Beijing.

Jan 21, 2008 00:20

JIMMYB
Points:
Join Date: Feb 7, 2007
Status: offline

As the Olympic Games is approaching, many locals in Beijing just sign a contract with those foreigners who live in Beijing in short run. Why? They also want to make use of Olympics to make money. To rent their houses to those who travel or watch games during the Olympic Games can bring them much profit. However, it is troublesome for those who work, study or do business in Beijing. To sign a short-term contract with those locals is not good. Thus, many want to buy them second-hand houses, convenient and inexpensive. The problem is that they don’t know the procedure and materials they should prepare. Here are some pieces of useful information.

1.The Chinese government's new regulations:
Only a foreigner with more than one year working or living experience in China can buy an apartment in China. The staying period in China will be based on the date printed on the Residence Certificate. Passport needs to be notarized.
2.Those foreigners who want to buy second-houses in Beijing have similar procedure with Beigjing people. The only difference is that they need go to an office to get their permission. Here is the address: 525 Block 3, Henderson Center, No. 18, Jian Guo Men (Inside) St., Dongcheng District. Tel: 65170808. Fax: 65179665. Postcode: 100005
3.Procedure:
1) The seller and buyer should sign a contract with a brokerage firm;
2) The seller and buyer should go to the office mentioned in article 2 to get an permission;
3) Both the seller and buyer should submit materials required to the local housing administration bureau;
4) Finish property transfer procedure and get the property ownership certificate
4.Relevant materials:
1) Hong Kong and Macau residents: the Hong Kong Permanent Resident Card or Macau Resident Card, and the Mainland Travel Pass for Hong Kong and Macau Residents.
2) Taiwan residents: Taiwan residents to and from Mainland China permit or other valid travel permit;
3) Foreigners: passport and residence certificate; if the foreigner doesn’t have the residence certificate, he should submit the notarized Chinese version of his passport.
4) Overseas Chinese: passport and residence certificate
5) The document approved by Check Office of Beijing Foreign Construction Project -- National Safety Affairs;
6) All Chinese versions need to be notarized.
7) Certification Letter of Foreign Individual's Stay Status in China issued by the Entry and Exit Administration Office of Beijing Public Security Bureau;

5. Foreigner also can apply to bank loans. Required materials: income certification; education and credit certifications; Valid down payment certification.

Notice: Taiwan resident are not permitted to apply to bank loans. If foreigners’ income certifications are not offered by Beijing authorities, their certifications should be notarized and they should also find a warrantor. Of course, their certifications need to be translated into Chinese. The transfer fee is the same as those locals in Beijing.

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