YOUR LIFE, YOUR OWN PACE

Renting and buying a home

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The measure here is money. Deposits and agents are common sources of rental losses. For buyers, major costs include mortgage interest and facts the seller knows but you do not. The legal rules and public services in this chapter apply in China.

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If an agent handles a home purchase payment, use its dedicated bank account for client transaction funds

A home payment of hundreds of thousands to millions of RMB is among this book's largest single transactions. Under Chinese rules, an agency handling it must use its dedicated client transaction-settlement bank account; do not transfer through WeChat to an individual broker. Two agencies sharing one deal may charge only one transaction's commission. Mortgage and registration services need separate contracts and advance fee disclosure.

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