How did the uncompleted residential flats form? Why don't developers get caught running? Do homebuyers still need to repay their loans?

Unfinished residential flats are a major drawback of real estate, so how did this uncompleted residential flats that make countless buyers feel fear and hate come into being?

How did the uncompleted residential flats form? As we all know, domestic housing prices have always been high, which is why so many people want to buy a house. Because in an era when the currency may depreciate at any time, the house can always keep its value. But the house price is too high, which makes many people want to spend but can't afford it, so most people have to choose a loan to buy a house, which is also commonly known as "paying the down payment and paying the monthly payment".

From a long-term point of view, buying a house with a loan can really alleviate the economic pressure of buyers, but when buying a house, buyers often see that the discount of a certain product "faster" is particularly strong.

The auction house is a building that has not been completely built or even started construction. Developers guide buyers to buy such houses with extremely high preferential efforts. For ordinary people, it is natural to buy a house at a price of hundreds of thousands or even hundreds of thousands, so many people will choose faster when buying a house.

However, the auction faces a very high-risk problem, that is, "unfinished". If the developer goes bankrupt or runs away, the auction house will become an unfinished building. At this time, those who have bought the auction house will naturally be unlucky, because they will continue to repay the loan.

Why don't developers get caught running? Many people will ask, the developer didn't fix the property. It is natural that the buyer has paid the deposit. If the house is not completed, developers should try to return the money to consumers, otherwise they should bear the corresponding legal responsibilities. But is it really that simple?

When buyers buy a house, their money is actually paid to the bank, and then the bank will deposit the corresponding full amount into a fixed supervision account according to the loan contract. The money in this account is supervised by developers, banks and relevant government departments.

The original intention of this supervision account is to protect the rights and interests of consumers. If something goes wrong, the relevant department can withdraw money from this account and return it to the consumer. Rules are dead and people are alive. If developers can abide by the rules, there won't be so many uncompleted residential flats.

When developers are in Gai Lou, they will not only focus on the construction of a real estate. They will try their best to use some reasonable excuses to withdraw the money from the last supervision account and then use it for the construction of another property, and so on. In the end, developers don't have enough funds to build properties, and these properties can only be left in unfinished places.

Moreover, many developers are limited liability companies, which means that even if consumers invest a lot of money in them after bankruptcy, it is none of the company's business, which is why these developers have not been caught.

Do homebuyers still need to repay their loans? In fact, many people don't know one thing. According to Article 38 of the Individual Housing Loan and Guarantee Contract, the loan of the buyer is directly connected with the bank and has nothing to do with the developer. In other words, after the contract comes into effect, the consumer should repay the loan.

In this regard, the relevant departments have also issued regulations for consumers' rights and interests, that is, after the uncompleted property, if the housing sales contract is invalid or revoked, consumers do not have to repay the loan, and the bank will refund the previous money to consumers.

All in all, the reason why so many people are caught in the battle of uncompleted residential flats is because they can't escape the mentality of greed and petty gain. In other words, everyone has no money and is poor. Developers also found this "business opportunity", so they came up with this routine, hoping that more people can take warning and will no longer be deceived by unscrupulous developers.