When purchasing off-plan presale property, verify the presale permit first; deposit, down payment, and mortgage funds must be deposited exclusively into the designated escrow account specified in the contract

Off-plan presale property refers to residential real estate sold prior to construction completion. Without a valid statutory presale permit, developers are legally barred from selling units or collecting deposits. By regulation, all earnest money, down payments, and bank mortgages must flow directly into an official government-monitored presale escrow account, which cannot be released until the property passes final completion inspection and meets full utility connection standards. Routing funds to any non-escrow account forfeits statutory protection.

Zero financial outlay. Spend a few minutes checking the presale permit and matching the bank account details before wiring funds. The challenge is standing firm when sales agents request payment to alternative auxiliary accounts.

Under the August 2026 joint directive issued by the Ministry of Housing and Urban-Rural Development (MOHURD), the Ministry of Natural Resources, and the National Financial Regulatory Administration (Jianfanggui [2026] No. 3): "All homebuyer purchasing funds, including down payments and personal residential mortgages, must be deposited in full into the dedicated capital escrow account." Escrow supervision is released only after the residential building completes statutory construction acceptance and meets full operational delivery conditions for water, electricity, gas, and heating. The sales contract must explicitly delineate buyers' rights and developer duties regarding escrow deposits. If the developer defaults or fails to deliver on time, the buyer may rescind the contract and demand a full refund alongside liquidated breach damages. Furthermore, PBOC and NFRA regulations dictate that commercial banks must disburse personal mortgage proceeds directly into the project's designated presale escrow account. Prior regulations (2010 and 2022) established that developers lacking presale permits may not collect deposits via pre-reservations, VIP memberships, or numbering queues; presale contracts signed without a valid presale permit are judged legally void by civil courts unless the permit is cured prior to litigation.

For projects that obtained construction planning permits prior to August 28, 2026, local transitional presale supervision rules apply. For completed existing housing where earnest money is paid prior to contract execution, regulations mandate deposit into a dedicated earnest deposit escrow account. The exact account name and number must be verified directly against the standardized sales contract before transferring funds. If a contract is declared void and a developer refuses repayment, civil litigation takes 6+ months with legal fees paid by the plaintiff. Depositing secondary housing funds is covered in Chapter 15, Rule 7. Benefit magnitude is categorized as High based on preventing total loss of housing capital. Primary beneficiaries are yourself and your household.

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