The Taipei City Government would help residents examine presale housing contracts and publish data to give prospective buyers sufficient information about the housing market in the capital, Taipei Mayor Chiang Wan-an (蔣萬安) said yesterday.
People can look at blueprints, models and sample homes before buying a presale units, but they might have trouble identifying “traps” in contracts due to information asymmetry, Taipei Department of Land Administration Deputy Commissioner Wang Jui-yun (王瑞雲) said.
The city government has received a lot of requests for assistance in presale housing purchases, so it is launching a three-step program to help people feel safer when signing contracts, Chiang said.
Photo: Tsai Ya-hua, Taipei Times
First, the city would provide a pre-examination service in which the department would examine the reservation agreement and purchase contract to make sure they meet mandatory and prohibitory rules, and do not have unfavorable terms for buyers, he said.
Second, it would accelerate the review process, shortening it from about 30 to eight days, Chiang said, adding that construction data reported by the developer would be automatically forwarded to the central government’s presale housing information report system to improve efficiency.
To save time, the department would begin examining the reservation agreement and purchase contract after a property developer applies for a construction permit and before it gets the green light, the department said.
Third, the city would publish information, including data on the construction project, the reservation agreement and the purchase contract, allowing prospective buyers to see accurate data online at the department’s Web site (househunt.land.gov.taipei) before a purchase, Chiang said.
The three steps would make the transaction process more transparent and safer for buyers, he said.
Coupled with the five-step plan for urban renewal that the city government launched previously, the multifaceted approach would hopefully make Taipei a more friendly and livable city, he added.
The city government is demolishing an apartment building in Wenshan District (文山) as part of an urban renewal project, Chiang said, adding that the project includes social housing and buildings integrated with MRT construction, so it would benefit public welfare.
The demolition is being carried out according to the law and the vast majority of households that agreed to the project hope to move in as soon as possible, so the city government is taking appropriate action, he said.
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