What should I do if the off-plan property is suspended?
In recent years, the issue of off-plan construction has become a focus of attention for home buyers. Due to the break in the developer's capital chain, policy adjustments or market fluctuations, some off-plan housing projects have been suspended, resulting in damage to the rights and interests of home buyers. This article will combine the hot topics and hot content on the Internet in the past 10 days to provide you with structured data and analysis to help you deal with the problem of off-plan property suspension.
1. The main reasons for the suspension of construction of off-plan properties
According to recent hot data analysis, the main reasons for the suspension of off-plan housing include the following categories:
| Reason type | Proportion | Typical cases |
|---|---|---|
| Developer's capital chain broken | 45% | A leading real estate company suspended projects in many places due to debt problems |
| Impact of policy adjustments | 25% | Purchase and loan restriction policies make it difficult to collect sales money |
| Construction disputes | 15% | Contractor and developer suspend work due to dispute over project payment |
| other reasons | 15% | Force majeure factors such as epidemics and natural disasters |
2. Countermeasures after the suspension of construction of off-plan properties
If you encounter problems with off-plan construction, home buyers can take the following measures to protect their rights and interests:
1.Verify the reason for the shutdown: Understand the real reasons for project suspension through developer announcements, government announcements or on-site inspections.
2.Join other owners: Establish connections with other home buyers, negotiate solutions together, and enhance the power of rights protection.
3.Legal means to safeguard rights: According to the contract, the developer is required to perform the contract or compensate for losses through legal means.
4.Complaints to relevant government departments: Report the problem to the housing and construction department, consumer association and other institutions, and seek government intervention and coordination.
3. Recent hot off-plan housing suspension cases
| city | Project name | downtime | Current status |
|---|---|---|---|
| Zhengzhou | XX International City | May 2023 | Partial resumption of work |
| Wuhan | XX No. 1 Courtyard | June 2023 | Still working |
| Chengdu | XX Future City | April 2023 | government takeover |
| Xi'an | XX Washington | July 2023 | Under negotiation |
4. House purchase suggestions to prevent the risk of suspension of construction of off-plan properties
1.Choose a strong developer: Priority will be given to projects from developers with good financial status and high credibility.
2.Pay attention to the five certificates of projects: Ensure that the project has necessary documents such as "State-owned Land Use Certificate" and "Construction Land Planning Permit".
3.Installment protection: Try to choose the method of payment in installments according to the project progress to reduce financial risks.
4.Buy an existing or nearly existing home: Reduce the proportion of off-plan purchases and give priority to projects that are about to be completed or have been completed.
5. Measures taken by government departments to deal with the suspension of off-plan construction
Recently, governments in many places have introduced policies to deal with the problem of suspension of construction of off-plan properties:
| area | Policy name | Main content | Implementation time |
|---|---|---|---|
| Henan Province | Special loan for guaranteed building | Providing special loans to support the resumption of suspended projects | August 2023 |
| Guangdong Province | New policy on pre-sale fund supervision | Strengthen the supervision of pre-sale funds to ensure that earmarked funds are used exclusively | July 2023 |
| Zhejiang Province | Real estate company whitelist system | Provide policy support to high-quality real estate companies | June 2023 |
6. Lawyer’s advice
1.preserve evidence: Properly keep the purchase contract, payment voucher, developer’s commitment letter and other documents.
2.Claim rights promptly: Once signs of a work stoppage are discovered, legal action should be taken immediately to avoid exceeding the statute of limitations.
3.class action lawsuit: Consider co-appointing a lawyer with other owners to reduce rights protection costs.
4.property preservation: If necessary, you can apply to the court to preserve the developer's property.
The issue of suspension of construction of off-plan properties involves the interests of many parties. Home buyers should remain rational and not only actively protect their rights, but also understand the actual market conditions. While safeguarding your own rights and interests through legal channels, you should also pay attention to the solutions provided by the government and developers. With the advancement of the "Guaranteed Delivery of Buildings" policy in various places, many suspended projects are gradually resuming construction, and home buyers can remain moderately optimistic.
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