Writing | Buying a Home

Here is a general process of buying a home in Wuhan:

1. Document verification: provide the house developer with the information of the buyer and family members for verification.

2. Qualification verification: the house developer shall check the qualification of the buyer in the online contract signing and contract filing system of Wuhan commercial housing.

3. Online signing: both parties need to sign the Letter of Commitment then finish the formal online signing.The buyer is responsible for the authenticity of the information and payment method provided.

4. Filling of contract. Within 5 working days after online signing, the house developer need to deal with the commercial housing contract registration procedures in the district housing agency, information required: contract filing and submission booklet, a full set of original paper contracts, result notice, the original Letter of Commitment, the buyer's family residence booklet, identity certificate, certificate of marital status, proof for paying social insurance or personal income tax and other documents if requested.

5. Transaction management. The buyer and the house developer complete the final transaction procedure at the housing transaction management department.

Like most of the Chinese young people, I cannot afford buying a house with full payment. So if I need to purchase a house, I'll seek for bank loan and repay it every month in 30 years.