Many people think it is hard to differentiate rates and government rent or don’t know how to calculate the payment.
標籤: Property owner
Tips for New Property Owner: Rent out your Property Safely!
Tips for New Property Owner: Rent out your Property Safely!
[A comprehensive guide on government rent] Which types of properties need to pay government rent?
Many people find it difficult to distinguish between rates and government rent, and they don’t even know how they are assessed. Some people still say that those living on Hong Kong Island and Kowloon need not pay government rent.
Comprehensive Buyers’ Guide to Obtain 90 percent Home Mortgage Loan
Tom: “The government has relaxed mortgage insurance schemes, thus paving the way for more properties to become eligible to apply for and obtain mortgage loans of up to 90 per cent of the value of a flat. But is it difficult to apply for a mortgage loan?”
What tips are useful to landlords?
Not all properties can be offered for rent! If the property has been mortgaged to the bank, in principle, the mortgagee’s consent must be obtained before the property can be offered for lease. Many banks also have mortgage or rent restrictions on non-self-used properties.
What is the process of selling a flat?
1. Sign the Estate Agency Agreement for Sale of Residential Properties in Hong Kong and appoint a real estate agent to sell a flat
[Inheritance property rights] Frequently asked questions (FAQ) about inheritance property
In the event of death, the deceased is likely to leave some estate, which may include money, stocks, or property. When the inheritance includes a piece of property, this will involve numerous procedures. The following are common questions regarding inheritance of property.
How much stamp duty do I have to pay?
Currently, the Ad valorem stamp duty rate for residential property transactions is flat at 15 per cent.
What should you do if you receive lower valuation from banks?
Banks usually evaluate the market value of a property based on different factors, including the property’s location, views from the flat, on which floor it is located, and transaction records in the building when appraising the property.
How is the mortgage ratio calculated?
Applying for a mortgage loan is mainly divided into two categories: The first type is based on income, and the second type involves worth–based lending.
What documents are required to apply for a mortgage loan?
A) Applicants with fixed income(1) HKID cards of borrower and guarantor (if applicable)(2) Sale and Purchase Agreement (applicable to new mortgages)
How to apply for a mortgage loan?
After signing the provisional sale and purchase agreement, the buyer can formally start applying for a mortgage loan. Owners can directly find a bank or find a professional mortgage referral company, such as Mreferral Mortgage Brokerage Services.
What are the hidden expenses when buying a property?
The purchase of a property generally involves three main legal documents: sale and purchase agreement, deed of assignment and mortgage deed. The solicitor’s fee, will be subject to the transaction value and the age of the property, and it usually amounts to several thousand Hong Kong dollars or more.
What needs to be done to prevent a potential mortgage trap when buying a village house?
Village houses are roughly divided into two categories – standard “small house” and village house on “old schedule lot”. The most common are standard small houses, which are three-storey high and have a floor area of about 700 square feet each.
What should I pay attention to when buying a village house?
Buying a second-hand village house can avoid the risk of government not granting the Certificate of Compliance. At present, new-style village houses are generally built like housing estates with well-managed gardens, parking lots and playground.