On January 30th, Bureau of Land Resources and Housing Management of Guangzhou Municipality assembled more than 1,200 agencies to mete out a set of secondhand house transaction monitoring measures. A secondhand house transaction capital trust would be put into place. Also, all the information of qualified property agents would be published on the website named Yangguang Jiayuan whereby citizens can check such information without worrying about their veracity.

To ensure the veracity of the information, sellers can check out the information on their own houses, while buyers can lock in the specific houses according to a serial number. The municipal real estate agency service office asks all agents to not publish false or exaggerated information. Nor can they rearrange the order of houses with false content or transaction conditions.

The published house information that is not successfully transacted over three months would be closed automatically and could be put online again if necessary. To prevent agents from changing the order of houses with unfair means such as low prices, each transaction term would be subject to a maximum of five changes. Meanwhile, the regulations of the land and house management authority provide that once a transaction is successful, the system will close all the related information automatically in light of the house certificate number.

In addition, as the real estate agent service management office put it, online contract signing arising out of secondhand house transactions would be enforced by the end of this year. Agencies can submit their opinions to the draft of Management Regulations on System Users of Stockpile Houses Online Information Publication.

(Translated by Guangzhou Association of Foreign Affairs Translators)

Source : english.gz.gov.cn