Do You Know?

Do You Know?

At Standard Chartered, our mission is to help you plan, build and protect your property, and that means giving you good advice not just on your mortgage but on every aspect of property planning and ownership.

For Property Under Construction

• After you have decided on the property, the developer will require you to sign the letter of intention and pay the reservation deposit
• Usually you need to pay a down payment after you sign the pre-sales and purchase agreement. Down payments are usually 30-70% of the purchase price
• Since the property is still under construction, the developer can only issue the Certificate of Master Title and the Certificate of Title Deed after the government has issued the Occupancy Permit
• The Pre-Sales and Purchase Agreement should be notarised (if applicable) and subsequently registered with the Property Transaction Centre/Local Land Bureau
• When the property is completed, you will sign the Letter of Handover with the developer. You can then proceed with the issuance of your Certificate of Title Deed
• In China, the resale of property under construction before the Certificate of Title Deed is obtained is not allowed

For Resale Property

• You must sign the sales and purchase agreement/order with the seller. A letter of intention can also be signed at this stage
• Once the letter of intent or Sales and Purchase Agreement has been signed, you can start your mortgage loan application
• Both the seller and buyer must complete a Title Deed transfer at the Property Transaction Centre/Local Land Bureau
• All Sales and Purchase Agreements must be notarised and subsequently registered with the Property Transaction Centre/Local Land Bureau

* The procedure above is for reference only. If there are any inconsistencies between the procedure and existing laws or regulations, the latter prevails.