What Is an Autonomous Transaction?

Autonomous transactions refer to those transactions that occur independently based on the trader's own interests or other considerations, mainly including transactions in current and capital and financial items, such as the import and export of goods and services, direct investment, long-term capital outflows, Remittances and gifts from diasporas. It is usually judged whether a country's balance of payments is balanced, mainly depending on whether its autonomous transactions are balanced.

Autonomous trading

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Autonomous transactions refer to those transactions that occur independently based on the trader's own interests or other considerations, mainly including transactions in current and capital and financial items, such as the import and export of goods and services, direct investment, long-term capital outflows, Remittances and gifts from diasporas. It is usually judged whether a country's balance of payments is balanced, mainly depending on whether its autonomous transactions are balanced.

Chinese name

Autonomous trading

Nature

transaction

Attributes

Autonomy

Category

Current Account and Capital and Financial Transactions

Foundation

Trader's own interests or other considerations

Transaction process

step 1

Before the purchase and sale of property rights ^[1] , first of all, we must carefully check the owner's real estate certificate, and note that there are several people's signatures on the real estate certificate. If there are two people, they need to have their names when signing the subsequent contract; secondly, look at the relevant evidence when buying a house, such as a house purchase invoice, deed tax invoice, etc., as auxiliary evidence to initially confirm the ownership of the property.

Step 2

Paying a deposit and signing a contract are optimistic about the house. After determining the property rights of the house, paying the deposit is a matter of course. But don't neglect this small link. Paying a deposit is also tricky. There are millions of houses, and the fixed amount can reach 50,000 yuan based on 5%. So when the transaction reaches this stage, please pay more attention.

If the house you are fancy is still under mortgage, the deposit should not be directly handed to the owner, but should be supervised by a third party. If both the buyer and the seller have a trusted third party, they can sign a simple agreement to provide the seller with a deposit after the redemption is completed. It should be marked with "The delivery to a supervising third party is considered as the seller's receipt. Refusal to perform the contract shall be deemed a breach of contract. " If there is no trusted third party, the deposit is best left to the bank's supervision. The specific method is: the buyer and seller can go to the bank to sign a supervision agreement, and agree to transfer it to the seller's account after the transaction center completes the delivery procedures.

In general, an appointment sales contract is signed when the deposit is paid, and the model text can be downloaded on the website of Shenzhen Municipal Land and Housing Management Bureau. The contract should at least stipulate the property address, transaction amount, delivery time, liquidated damages, and liability for breach of contract. For specific terms, see the model text.

Step 3 Foreclosure

There are two ways to redeem a house: First, the owner borrows money from the bank to redeem the house through a guarantee company, which generates a 0.8% guarantee fee and 0.4% short-term redemption interest. Then go to the bank to make a mortgage. Second, the buyer uses the guarantee company to make a mortgage to the bank, and the bank then sends the redemption payment to the seller, which only needs to generate a guarantee fee, but the buyer needs to make a mortgage in advance.

Step 4: Pay down payment and fund supervision

In addition to the issue of property rights, the second major issue that autonomous transactions need to worry about is fund supervision. In fact, the supervision of funds is now in place. Buyers and sellers do it according to established rules, and the risks are very small. Regardless of the method of transaction, the first installment must be placed under bank supervision.

The specific operation is: the buyer and the seller sign a fund supervision agreement with the bank, and then each opens an account with the bank, agreeing that after the buyer completes the transfer and obtains the newly issued real estate certificate, the first installment is called to the seller. If the transaction is successfully completed, the bank will send the payment to the seller; if there is a problem in the middle of the transaction, the first payment will be sent back to the buyer. Banks providing this service generally charge a single supervision fee of about 500 yuan, but if you are supervising funds through a bank that is going to mortgage, you can save this fee.

For the sake of fairness, banks will require buyers and sellers to sign the lending book when signing the supervision agreement, so that buyers and sellers do not need to go to the bank in person when making a loan, and can also prevent buyers from causing trouble for sellers when they do not cooperate with the loan. .

Step 5 Sign the sales contract

After the first period of delivery, a formal second-hand house sales contract can be signed.

Step 6: choose a bank and mortgage

If it is not a one-time payment, the buyer also needs to go to the bank to make a mortgage loan. To go to the bank to apply for a loan requires the buyer and seller to be present, and bring the original ID card, income certificate, and sales contract. When applying for a loan, I went directly to the bank's account manager and said that he would help with the mortgage.

Step 7 Transfer and payment

When you go to the household, you need to go to the property right registration center where the real estate is located to go through the transfer formalities. The buyer and the seller need to bring the original identity card, the original real estate certificate, and the second-hand house sales contract. Generally, after the submission, the owner of the receipt can let the bank deposit the previous supervision.