What if Evergrande can't deliver the house on time?

If Evergrande fails to hand over the house on time, it can set up an owners' committee to elect representatives, and go to the Housing and Construction Bureau to find out the situation: whether the supervision funds are sufficient, when to resume work, and whether the house can be handed over on time. Then go to the government petition office.

If you encounter this problem, don't delay. According to the facts agreed in the contract, sue the developer to terminate the contract and bear the liability for breach of contract. At the time of prosecution, apply for the third party, that is, the bank to participate in the lawsuit and terminate the guarantee contract. The delay or inability of the developer to hand over the house and your performance of the mortgage obligation are two different civil legal relationships. The developer's delay is the developer's default, and if you don't repay on time, you and the bank default.

Article 15 According to Article 94 of the Contract Law, if the seller delays the delivery of the house or the buyer delays the payment of the house price and fails to perform it within a reasonable period of three months after being urged, if one party requests to terminate the contract, it shall be supported, unless otherwise agreed by the parties.

If there is no law or agreement between the parties, the reasonable time limit for exercising the right of cancellation is three months after the other party's demand. If the other party fails to ask for a notice, the cancellation right shall be exercised within one year from the date of the cancellation right; If it is not exercised within the time limit, the right of revocation shall be extinguished.

Article 16 Where a party requests a reduction on the grounds that the agreed liquidated damages are too high, it shall reduce them appropriately on the basis that the liquidated damages exceed 30% of the losses caused; If the parties demand an increase on the grounds that the agreed liquidated damages are lower than the losses caused, the amount of liquidated damages shall be determined according to the losses caused by the breach of contract.