Standard of liquidated damages for Foshan residential maintenance fund

Units selling houses are drawn from sales funds according to a certain proportion. In principle, multi-storey houses should not be less than 20% of the sales funds, and high-rise houses should not be less than 30% of the sales funds. Property buyers shall pay the maintenance fund to the selling unit in accordance with the proportion of 2% of the purchase price.

The maintenance fund collected by the selling unit belongs to all owners and is not included in the residential sales income. Real estate development enterprises shall deposit the maintenance fund of new commercial housing into special banks before handling the initial registration of new commercial housing. The purchaser shall deposit the maintenance fund of the purchased commercial house in a special bank before handling the registration of the change of real estate rights.