Three departments, including the Chengdu Housing and Urban-Rural Development Bureau, issued implementation opinions on implementing the “Notice on Improving the Commercial Housing Sales System”. The opinions were put forward to implement a deposit system for existing housing sales. For commercial housing projects where existing housing is sold, real estate development enterprises shall clarify their current sales intentions in writing to the municipal and county housing and construction departments before obtaining a construction permit for the construction project. After obtaining a construction permit for a construction project, you can sign a deposit contract with the buyer to collect a deposit of no more than 5% of the total price of the house. If a real estate development enterprise breaches the contract and is unable to deliver the house on time, the buyer has the right to cancel the deposit contract in accordance with the contract agreement.

Three departments, including the Chengdu Housing and Urban-Rural Development Bureau, issued implementation opinions on implementing the “Notice on Improving the Commercial Housing Sales System”. The opinions were put forward to implement a deposit system for existing housing sales. For commercial housing projects where existing housing is sold, real estate development enterprises shall clarify their current sales intentions in writing to the municipal and county housing and construction departments before obtaining a construction permit for the construction project. After obtaining a construction permit for a construction project, you can sign a deposit contract with the buyer to collect a deposit of no more than 5% of the total price of the house. If a real estate development enterprise breaches the contract and is unable to deliver the house on time, the buyer has the right to cancel the deposit contract in accordance with the contract agreement.