What are the procedures for Australian citizens to buy a house in China?

The phenomenon of foreigners buying houses is becoming more and more common, and the related policies they enjoy are basically the same as those in China. However, due to the restrictions of identity, nationality and other factors, foreigners still have some special procedures when buying a house, and they need to provide more information. The sales contract must also be notarized by a notary office. When a foreigner purchases a house in China and applies for a house title certificate, the applicant shall go to the real estate transaction registration office of the Municipal Real Estate Administration with identification certificate, purchase contract, tax payment certificate and other materials. The identity certificates of foreigners are passports and residence certificates issued by the competent authorities of China government. Applicants should use Chinese names or titles. If the original is in a foreign language, a Chinese translation with the same meaning as the original in the foreign language should be provided. Reminder 1: define the authority of the entrusted agent to represent the purchaser in the process of borrowing from the bank, such as contract notarization, mortgage registration, insurance and other loan matters. After the loan occurs, it can also be repaid by the agent (purchaser) on schedule; The borrower opens a current savings account in the bank, and the entrusted agent deposits the required repayment amount into the current savings account every month. Personal housing in loans overdue for more than six months, the borrower authorizes an agent to handle the client's shopping business. By contacting the entrusted agent, the sub-branch can dispose of the collateral to ensure the successful overdue collection. Reminder 2: Information required for foreigners to apply for loans: passport, original and photocopy of valid residence permit in Chinese mainland. Original and photocopy of marriage certificate. A certificate of marital status issued by the notary office of the country of residence, or a certificate of marital status issued by the embassy or consulate of China in that country (including the certificate that I have no spouse), which needs to be certified by the embassy or consulate of China in that country, should be accompanied by a Chinese translation issued by the Foreign Affairs Office. Where the applicant or someone can't handle the mortgage loan in person: ① Married: If both husband and wife can't be present at the same time, the one who can't be present can sign a power of attorney to entrust his spouse to handle it (at least one of the husband and wife will come in person), and the power of attorney should be notarized by the notary office of the host country and authenticated by the Chinese embassy or consulate in that country; Or notarized by the embassy or consulate of China in that country; Or notarized by the country's embassies and consulates in China (if it is in English, it should be accompanied by a Chinese translation issued by the Foreign Affairs Office and stamped with the relevant seal). ② Unmarried persons: If foreigners are unmarried, they can only entrust their immediate family members to handle it on their behalf. Power of attorney is the same as above. Reminder 3: loan ratio and interest rate foreigners buy houses in the mainland. Although the loan ratio is the same as that of China people, there are many choices for bank loans. You can choose foreign currency and RMB as the currency. 2 1 Century Teacher Zhao from the Real Estate Finance Department suggested that foreigners choose RMB loans, so that you don't have to worry about the conversion between foreign currency and RMB, and you can also avoid the change of exchange rate. The loan interest rate of foreigners enjoys the same treatment as that of China people, and is subject to the individual housing loan interest rate stipulated by the People's Bank of China. The state stipulates that the interest rate for more than five years is 6. 12%, and the interest rate for the first home loan is 10%, which is reduced to 5.508% for more than five years. If it is a second home loan, the preferential interest rate will not be implemented and will change with the adjustment of interest rate. Reminder 4: The contract must be notarized, which is the biggest difference from buying a house in China. Commercial housing sales contracts signed by overseas natural persons, legal persons and other organizations need notarization, which is mandatory. According to the introduction of Shanghai Notary Office, foreigners should pay attention to five aspects when handling contract notarization procedures: if foreign natural persons, legal persons and other organizations buy or sell commercial houses, the Shanghai Notary Office will uniformly handle contract notarization; If domestic and overseas personnel buy and sell non-commodity housing for export and foreigners buy and sell non-commodity housing for domestic sales, the contract shall still be notarized by the Municipal Notary Office according to the original provisions. There are several kinds of "foreign natural persons, legal persons and other organizations" as buyers and sellers: foreign citizens, citizens from Hong Kong, Macao and Taiwan, people holding China passports and obtaining permanent residency in foreign countries, other overseas individuals, legal persons and other organizations registered in foreign countries, Hong Kong, Macao and Taiwan, and so on. The documents and materials required for notarization of foreign-related real estate sales contracts are clearly stipulated. For the buyer, if it is a natural person, it is required to provide the household registration book, ID card, passport, Taiwan Province residents' pass to and from the mainland and other identification certificates (such as overseas residence permit). ) according to different situations; In addition, if you entrust others to do notarization, you need to submit a valid power of attorney If the buyer is a legal person or other organization, it shall provide the business license and the identity certificate of the legal representative/person in charge; If signing a contract or notarization on behalf of the agent, the valid power of attorney of the legal representative/person in charge and the identity certificate of the agent shall also be provided. For real estate developers, it is necessary to provide a pre-sale permit for commercial housing to handle the notarization of pre-sale real estate; If the sale of real estate is notarized, the certificate of real estate ownership shall be provided. For the seller of the sales contract, he shall provide the house ownership certificate and the identity documents of the parties (the specific requirements are the same as those of the buyer). Both parties need to be present in person and sign the contract in front of the notary. If there are special difficulties, notaries can come to accept them. Tip: Do foreigners register ownership in foreign languages or Chinese? With the acceleration of China's opening to the outside world, more and more foreigners buy houses in the mainland, and their nationalities are also different. If they use their mother tongue, in addition to the problems of writing and printing in the registration authority, the computer system will also have difficulties in retrieval and identification. Therefore, the real estate ownership registration authority can use its Chinese transliteration for registration, and record its mother tongue name in the registration documents, and mark it in the remarks column of the ownership certificate.