What is the zero down payment for buying a house? What are the risks of buying a house with zero down payment?

The down payment ratio of the second suite has been lowered, and the down payment ratio of the first suite of provident fund loans has also been lowered. This favorable policy has delighted many people. Many people who have never bought a house have also put their houses on the agenda, and real estate enterprises have seized the opportunity to start overwhelming publicity. Slogans such as "zero down payment", "zero monthly payment" and "buying a house for decoration" have become frequent visitors to real estate advertisements in various media.

For people who don't have enough money, "zero down payment" is undoubtedly a very tempting concept, but after the temptation, they also have doubts about this good thing. So what exactly does "zero down payment" mean? How is it done in the actual purchase? Will there be any risks in buying a house with zero down payment? I believe that these problems are what buyers are eager to know.

What do you mean by buying a house with zero down payment?

Many developers will put up signs of buying a house with zero down payment to attract buyers to buy a house. Buying a house with zero down payment means that the developer pays 3% down payment. There are two main ways to buy a house with zero down payment. One is essentially equivalent to down payment by installments, that is, the buyer does not pay or pays a small amount of down payment, and the developer gives the buyer a year or several months to collect the remaining down payment before applying for a mortgage. The other is to make a high contract price and make a false loan. This kind of zero down payment is more difficult to operate, and it also increases the risk of buyers buying a house.

Buying a house with zero down payment is only a means of payment for buyers in the process of buying a house, and it can't affect the effectiveness of the commercial housing sales contract between developers and buyers. The contract signed voluntarily on the premise of obtaining the sales license is legally effective. However, in practice, there are many potential legal obstacles in buying a house with zero down payment. If it is not handled properly, disputes will easily arise.

The threshold for buying a house with zero down payment

Buying a house with zero down payment sounds beautiful, but it is not as beautiful as advertised. The so-called zero down payment seems to have no threshold, and anyone can apply. In fact, the threshold of zero down payment is relatively high. At the very least, you need to be qualified to buy a house. If you are a foreign property buyer, a social security certificate or tax payment certificate for more than one year is indispensable. Secondly. Buyers who apply for zero down payment must have stable economic income, repayment ability and good credit record, otherwise they can't apply for bank loans.

What are the risks of buying a house with zero down payment

For developers, the purpose of attracting many buyers through "zero down payment" or "down payment" is to achieve the goal of quick transaction. For property buyers, ultra-low down payment or zero down payment is not a reduction of down payment, but a installment payment. Although it temporarily relieves the pressure of buying a house with a loan, it will eventually require property buyers to pay off all within the specified time. During this period, property buyers will face financial pressure in all aspects, such as down payment, monthly payment, and taxes paid when handing over the house.

for buyers, it is necessary to make up the down payment before buying a house. Otherwise, if you buy a house beyond your tolerance, you will bear too much economic pressure, which may affect your quality of life, and may also bring the risk of default due to your inability to repay.

Legal person explains the risk of buying a house with zero down payment

Buying a house with zero down payment does not conform to the relevant policies of the state and banks. Consumers who use "zero down payment" to purchase houses must be customers who want to borrow money from banks. If developers use "zero down payment" without authorization, they will not strictly follow the down payment ratio policy requirements of housing loans stipulated by the State Council, which violates the national policy. At the same time, because the lender didn't actually pay the down payment, he couldn't really own the ownership of the house he bought, and the bank's loan will inevitably increase the risk of bank loan.

In addition, the legal risk of "buying a house with zero down payment" is high.

For developers, the "zero down payment" requires them to make temporary advances, so they need to pay some interest. If the capital chain breaks, they will face great financial pressure. Developers should also have a certain understanding of the economic situation, repayment ability and credit history of buyers. If buyers cannot obtain bank loans for such reasons, there is great uncertainty in the performance of housing sales contracts.

for property buyers, if they have bought more than two houses, or foreign property buyers can't issue social security certificates or tax payment certificates for more than one year, they are not qualified to buy houses. When these unqualified buyers sign a "zero down payment" purchase contract with the developer, they will face the embarrassing situation that the house purchase is invalid, and the down payment delivered on time may be unable to be recovered.

The legal person warned that "buying a house with zero down payment" does not mean that the buyer does not have to pay the down payment. Its essence is that the developer or real estate agent obtains the down payment through advance payment, or by falsely raising the house price, and mostly obtains the down payment through bank loans. There may also be legal disputes over the contracts signed by developers and property buyers here, and the parties may even be investigated for criminal responsibility. Therefore, consumers are advised not to buy houses with "zero down payment".

(The above answer was issued on June 16, 215, and the current relevant purchase policy should be based on the actual situation)

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