What about Evergrande owners?

What Evergrande owners can do is to seek the help of the government, safeguard their rights through legal channels and seek the assistance of other developers.

1. Ask the government for help: You can ask the local government for help. Although the government does not directly intervene in the problem of uncompleted residential flats, it will supervise them. Reflecting your problems to the government can win the understanding and support of the government.

2. Rights protection through legal channels: If Evergrande cannot hand over the house or refund the purchase price, you can protect your legitimate rights and interests through legal channels. You can sue Evergrande and demand compensation for your losses.

3. Seek help from other developers: If Evergrande cannot continue to build uncompleted residential flats, you can seek help from other developers. You can cooperate with other property buyers to transfer the rights and interests of uncompleted residential flats to other capable developers, so that they can take over and complete the subsequent construction and delivery work.

What should I do if I buy an unfinished building?

If the delivery of the house by the developer is seriously overdue and meets the conditions for the termination of the contract agreed in the contract, the purchaser may demand the termination of the house purchase contract signed with the developer on the grounds of the delivery of the house by the developer, and require the developer to refund the purchase price and bear the liabilities for breach of contract agreed in the contract. The most important thing is to face the reality of uncompleted residential flats, try to stay calm, adjust your mentality and seek suitable solutions.

If the developer stops the on-site construction due to insolvency, resulting in the house never being delivered, the buyer can spontaneously apply to the court for the developer to enter bankruptcy proceedings. Once the company enters bankruptcy proceedings, the court can organize the establishment of a bankruptcy liquidation team with the participation of relevant departments. The bankruptcy liquidation team will organize the bankruptcy reorganization of developers and restart the project through capital injection.