When can I buy an auction house online? Is there a formal contract for the down payment?

The contract can be signed immediately after the buyer pays the down payment. After the general down payment, it is a formal contract.

How to pay the down payment when buying an auction house?

When buyers choose a house to pay a deposit, they will sign a "subscription agreement" with the developer. Under normal circumstances, he will pay the down payment within 7 days and sign a Commercial House Sales Contract, after which the subscription agreement will be invalid. Property buyers need to apply for a loan from the bank after paying the down payment. After approval, they need to start paying the monthly payment after the loan is decentralized.

Property buyers need to choose the down payment amount according to their own and their family's economic strength, but it shall not be lower than the proportion stipulated by this Municipality. In 20 17, many cities across the country restarted the purchase restriction, and most of them required the down payment ratio of the first suite to be around 30%, and the second suite to reach 50%~60%. Buyers should know the purchase policy in advance so as not to affect the purchase progress.

Of course, if property buyers meet the conditions of provident fund loans, they can apply for provident fund loans and enjoy the loan interest rate of 3.25%. If you do not meet the conditions of provident fund loans, you can also apply for withdrawing money from the provident fund account to repay the house payment with your identity documents and contract documents after applying for commercial loans.