The Study Of Capital Supervision Model In Pre-sale Of Commercial Housing

Pre-sale of commercial housing system is originated in Hong Kong, and as an important means in real estate development, capital financing, and transaction, it has became a major way in commercial housing selling, along with the prosperity and development of Mainland real estate market. In near tens of years, the development and improvement of commercial housing pre-sale system has taken an active role in prompting real estate market. This pre-sale system can not only increase the capital using efficiency, but also lower the housing price. In some senses, it is beneficial for both housing developers and consumers, and thus, it became a main sale model in our real estate market. However, as pre-sale is a forward transaction, the future house is just a model in design sketch when consumer pay for it, and the buyer even can not foresee whether to get the contractual subject or not for information unbalance. Moreover, some real estate developers cheat buyers with glossy, false, and misleading information, and violate builders" benefits for advanced payments abused using, and make banks affording high risks as they got credit funds by rip.Thus, it is necessary to supervise the pre-sale of commercial housing, in order to protect the buyers'legal rights and to overcome the deficiencies of pre-sale system and kinds of risks of real estate market. As the advanced payment funds involves the real estate developer's core benefits, the effective management on advanced payment funds could restrict and guide the developers'actions, and therefore, the supervision on advanced payment funds is considered as the nucleus of pre-sale system supervision. This paper discusses the risks of future house pre-sale system by analyzing the pre-sale commercial housing system theories, and discusses the necessity and cost of supervision from the angles of legal philosophy and legal economy. From the above analysis, this paper tries to find an effective advanced payment funds supervision model to improve the pre-sale of commercial housing system and protect the benefits of relevant beneficial subjects.This paper is consisted of five chapters. Chapter I firstly introduces the concept of pre-sale of commercial housing system, and then analyzes the different subjects involved in the process of commercial house pre-sale. moreover, this part also analyzes the conflicts among different contractual legal relationship based on different contracts and its causes. Thirdly, this chapter establishes the legal principle foundation for founding advanced payment funds supervision model by analyzing freedom and restriction. The chapter finally presents the necessity of establishing the advanced payment funds supervision system by analyzing the risks in real estate markets.ChapterⅡanalyzing the advanced payment funds supervision model from the angle of legal economics. As supervision cost would affect the system designation between supervision subject and its model, the supervision system should take the supervision cost in consideration firstly, and thus, the chapter analyzes the advanced payment funds supervision model by taking the government supervision as an example, and finally analyzes the other supervision subjects from an outside angle.ChapterⅢtakes a comparative analysis on advanced payment funds supervision system among Hong Kong, USA. Then, this part designs a way of development and improvement of our future advanced payment funds supervision system, including: advanced payment funds supervision subjects, legal system, supervision model, reality of real estate securitization and widen supervision channels, etc.ChapterⅣanalyzes the current status and deficiency of our advanced payment funds supervision model. This part firstly analyzes the main typical supervision models in mainland, including government supervision, commercial bank supervision, and intermediary institutions supervision. Then, this part analyzes our current status of advanced payment funds supervision from the angle of legislation, and finds the deficiency and causes.ChapterⅤmainly presents the conceivation of improving our advanced payment funds supervision model from the following six aspects:a. heightening the entry standard of developing real estate and establishing credit censor system; b. practicing united regulation with multi bureaucracy and hierarchy:c. unifying the subjects of advanced payment funds supervision; d. realizing real estate mortgage loan securitization; e. unifying the way of gathering and storing advanced payment funds.