The incomplete buildings keep exploding! A developer in Chiayi has conducted a Rug Pull, losing 24 million NTD in down payments down the drain. What are the loopholes in Taiwan's pre-sale housing system?

The builder of the "Best Dance" of the pre-sale house in Chiayi ran away, and the buyer's 24 million head payment was probably lost in the water, exposing the loopholes in Taiwan's pre-sale house performance guarantee system. (Synopsis: Bitcoin. Housing market golden cross: currency circle KOLs buy Taipei, TSMC engineers lose sales, construction starts hit a 5-year low) (Background supplement: The central bank does not rule out the "eighth wave of house fighting" Yang Jinlong: crazy buying will spawn a huge bubble, you must shoot in advance) Buy a house and want to start a family but become empty! The Chiayi construction project "Best Dance" was about to be completed and handed over the house, and the builder "Juhong Construction" evaporated from the world, taking away more than 24 million yuan of down payment from house buyers. These expectant prospective homeowners have turned their dreams into nightmares overnight, and their hard-earned money may not return. Hard-earned money wasted! "Best Dance" victims have no way to seek help This group of unlucky house buyers signed a pre-sale contract for "Best Dance" many years ago, ranging from hundreds of thousands to 2 million yuan per household. Seeing that the house was topped out and the interior was almost ready, the builder boss patted his butt and disappeared, and the phone became empty, leaving a mess. What's worse, according to a previous report by the Liberty Times, the land has long been taken by the builder with a second-child loan, and in case of foreclosure, it will be more difficult for buyers to get their money back. And not only the small people want to cry without tears, but even downstream contractors have also suffered, some manufacturers are owed 70,000 yuan for the project, and the air-conditioning and kitchenware businesses are even worse, with arrears ranging from hundreds of thousands to millions. At present, everyone can only form a self-help meeting to seek justice, but at the mediation meeting held by Chiayi City Consumer Protection Officer Huang Chongjie on 6/2, the builder did not even appear a personal shadow, and the mediation was directly broken, and the victims could only go to the lawsuit themselves. Is the pre-sale house performance guarantee invalid? In fact, a while ago in Hualien, the pre-sale case "The Wizard of Oz" launched by Taiji Construction in Ji'an Township also broke out in the handover dispute. It is understood that there are 60 households in the case, and only 14 have successfully completed the transfer, and consumers' rights and interests have been seriously damaged. DPP "legislator" Wang Meihui couldn't stand it, and directly told that this was not an individual case, but that there was a problem with the entire system. At present, builders can choose from five performance guarantee methods, namely price return, price trust, interbank joint and several guarantee, guild joint and several guarantee, and real estate development trust. Among them, the price return and the real estate development trust are considered to have a higher degree of protection for the buyer 1 Price return: After the consumer pays, the money is kept by the financial institution, and the builder can only collect it after the house is completed and handed over. If the builder is unable to complete the project, the consumer can get the full price back, which is the safest way to guarantee the performance 2 Price Trust: After the consumer pays, the money is kept by the trust institution, and the builder can apply to the trust institution for funding in stages according to the progress of the housing construction. If the builder is unable to complete the project, the consumer can get the price back according to the trust deed 3 Real Estate Development Trust: The builder entrusts the management of the construction land, construction funds and consumer payments, etc., to a financial institution or trust operator. The builder applies to the trust institution for funding based on the progress of the project as assessed by the company. If the builder is unable to complete the construction, the consumer can get the price back according to the trust deed 4 Interbank Joint and Several Guarantee: The builder is jointly and severally guaranteed by the same industry, and if the builder is unable to complete the construction, the other jointly and severally guaranteed builder continues to build or is responsible for a refund. 5 Guild Joint and Several Guarantee: The builder is jointly and severally guaranteed by the Real Estate Development and Commercial Association, and if the builder cannot be completed, the other members of the guild are jointly and severally responsible for the construction or refund. However, at present, it seems that the system is not perfect, so that the builder can take advantage, and the money in the account may also be deducted by the builder's creditor first, which may not necessarily provide consumer protection. Officials rushed to extinguish the fire, is the reform plan to draw a pie or play real? Seeing the people's grievances boiling, the Land Secretary of the Ministry of the Interior, Lin Jiazheng, finally came forward and said that the relevant units were reviewing and expected to come up with a reform plan "within three months". The preliminary plan has three points: First, the use of funds should be managed well, and the buyer's money can only build a house, and builders are not allowed to spend it indiscriminately. Second, the special trust account should be open and transparent, the bank account number should be clearly written on the contract, and the money should be directly entered into the special account to reduce black box operations. Third, when signing the contract, you should give the rights and interests statement to let the buyer know whether his money is safe or not. As for the most crucial issue, "trust assets must not be enforced by creditors", officials also said that it would be included in the discussion of amending the law. Related stories about Bitcoin. Real estate market golden cross: currency circle KOLs buy Taipei, TSMC engineers lose sales, construction starts hit a 5-year low Taiwan's real estate market trading volume fell 40% in January "with Bitcoin gold cross"? Experts are over the top: the government manipulates the real price to log in to Bitcoin. The real estate market golden cross" house speculators are overly warned: house prices will fall for several years, cutting 4% per year.. 〈The rotten building exploded! Chiayi builder ran away with a down payment of 24 million yuan, what are the loopholes in Taiwan's pre-sale housing system? This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".