Policy Interpretation of Shanxi Commercial Housing Pre-sale Fund Supervision Measures

Recently, the Housing and Urban-Rural Development Department of Shanxi Province made a detailed policy interpretation of the Measures for the Supervision of Pre-sale Funds of Commercial Housing in Shanxi.

1. Background

In view of the new situation and new challenges in the real estate market in our province in recent years, in order to standardize the supervision and management of the pre-sale funds of commercial housing, maintain the transaction order in the real estate market, and protect the legitimate rights and interests of both parties to the transaction of commercial housing, our office, together with Taiyuan Central Branch of the People's Bank of China and Shanxi Banking Insurance Regulatory Bureau, issued the Measures for the Supervision of the Pre-sale Funds of Commercial Housing in Shanxi Province (J.F.Z. [222] No.74).

II. Main Contents

The Supervision Measures * * * includes six parts:

(1) General provisions: the guiding ideology, scope of application, concept of pre-sale funds and departmental responsibilities of the Supervision Measures are mainly defined.

(ii) supervision banks and accounts: it mainly stipulates that the supervision banks shall be selected through public bidding, and puts forward clear requirements on the definition and related requirements of supervision banks, as well as the supervision agreement on commercial housing pre-sale funds and the establishment of supervision accounts.

(3) Collection, withdrawal and use of pre-sale funds: it mainly stipulates the process of collection and storage of pre-sale funds and the payment method of buyers. It is clear that pre-sale funds are divided into key supervision funds and non-key supervision funds, and specific requirements are put forward for the way to determine the amount of key supervision funds; The use mode and requirements of supervision funds are clarified, and the retention ratio of key supervision funds in each stage is clarified according to the progress of the project image. The supervision department can appropriately adjust the retention ratio of key supervision funds according to the dynamic assessment, credit evaluation and liabilities of real estate development enterprises; Clarify the process of allocating regulatory funds.

(4) Deregulation of pre-sale funds: it mainly stipulates the conditions and procedures for deregulating pre-sale funds.

(5) supervision and management: it mainly stipulates the supervision and management responsibilities of the supervision department and the supervision bank, and the penalties for violating the relevant provisions of these Measures.

(6) annex: it mainly stipulates the implementation time of the regulatory measures.

? Iii. Highlights

(I) Determination of supervision banks by tender

The supervision department shall, jointly with the People's Bank of China and the banking and insurance supervision department, comprehensively evaluate the supervision, service and operation of commercial banks, determine the commercial banks that can undertake the supervision of commercial housing pre-sale funds through public bidding, and establish a list of supervision banks. The regulatory authorities shall dynamically adjust the list of regulatory banks, and regularly eliminate banks that fail to perform or cannot undertake the supervision of funds.

(II) Setting up supervision accounts according to pre-sale permits

Real estate development enterprises set up supervision accounts for pre-sale funds according to the principle that one pre-sale permit application corresponds to one account. The name and account number of the supervision account shall be specified in the Commodity House Pre-sale Permit and the Commodity House Sales Contract.

(III) Pre-sale funds are divided into key and non-key regulatory funds

Regulatory funds are divided into key regulatory funds and non-key regulatory funds. The key supervision funds shall be comprehensively determined by the local supervision department of the project according to the project situation. The key supervision funds shall be used for special purposes and must be used for related engineering construction. During the existence of the supervision account, commercial banks shall not deduct them without authorization, and real estate development enterprise group companies that set up subsidiaries shall not transfer them; Non-key supervision funds can be extracted and used by real estate development enterprises, giving priority to pre-sale project construction and repayment of loans for this project.

(IV) Defining the amount of key supervision funds

The amount of key supervision funds can be dynamically adjusted according to the construction progress of the single project:

1. If the construction progress reaches more than . of the main project above ground and less than one third, the retained balance in the supervision account shall not be less than 85% of the total amount of key supervision funds;

2. If the construction progress reaches more than one-third of the above-ground main project but less than two-thirds, the retained balance in the supervision account shall not be less than 7% of the total amount of key supervision funds;

3. if the construction progress reaches more than two-thirds of the main structure of the above-ground main project, the retained balance of the supervision account shall not be less than 55% of the total amount of key supervision funds;

4. If the construction progress reaches the top of the above-ground main project, the retained balance of the supervision account shall not be less than 4% of the total amount of key supervision funds;

5. After the project is basically completed, the real estate development enterprise will organize the construction unit and the supervision unit to accept the project. If it has qualified information, the retained balance in the supervision account shall not be less than 2% of the total amount of key supervision funds;

6. The retained balance in the supervision account shall not be less than 5% of the total amount of key supervision funds if the comprehensive completion acceptance of the project is put on record;

7. if the first registration of real estate is completed and the conditions for the buyer to unilaterally register the transfer of real estate are met, the remaining supervision funds can be fully allocated unless otherwise stipulated in the supervision agreement.

(V) Appropriately adjust the disbursement nodes according to the dynamic assessment

The regulatory authorities can keep abreast of the dynamic assessment, credit evaluation and assets and liabilities of real estate development enterprises through Shanxi Digital Real Estate System, and appropriately reduce or increase the amount of key regulatory funds retained by their nodes based on this, but the proportion of reduction or increase of each node shall not exceed 5%.

(VI) Clarify the responsibility of assisting the development enterprises to withdraw the pre-sale funds in violation of regulations

If the construction units and supervision units provide false certificates or assist the real estate development enterprises to withdraw the pre-sale funds in violation of regulations by means of "provider tickets", the relevant departments shall deal with the relevant responsible units and persons according to law, record their violations in the enterprise credit information system and publicize them to the public.