On April 28, the Wuhan Municipal Housing Security Housing Management Bureau, the Municipal Education Bureau, and the Business Management Department of the Wuhan Branch of the People’s Bank of China issued a notice on “Guiding Opinions on Doing a Good Job in the Delivery of Commercial Housing in Response to the New Coronary Pneumonia Epidemic”. In order to effectively solve the problems caused by the delayed delivery of commercial housing due to the epidemic situation, protect the legitimate rights and interests of both buyers and sellers of housing, and prevent and resolve risks in the real estate market, three guidelines are formulated.

The “Notice” mainly includes a reasonable extension of the delivery time of the commercial housing project, a reasonable extension of the repayment period of the commercial housing purchaser, and the vacancy to go through the relevant procedures for the admission of the children of the commercial housing purchaser.

Specifically, reasonably postpone the delivery time of commercial housing projects. If the buyer and seller have signed a commercial house sales contract and the agreed delivery time is January 24, 2020 or later, and the commercial house project cannot be delivered as scheduled due to the epidemic situation, the force majeure regulations shall be applied in accordance with the law, and the delivery time shall be reasonably extended according to the actual situation. For the extension time, please refer to the “Notice of the General Office of the Provincial Government on Printing and Distributing Measures for Promoting the Stable and Healthy Development of the Construction Industry and Real Estate Market” for the requirements for reasonable determination of the project duration. . The real estate development enterprise shall notify the buyer of the delayed delivery according to law. If there is a dispute between the buyer and the seller about the application of force majeure and the delivery time, it shall be resolved through arbitration or judicial channels in accordance with the contract.

Reasonably delay the repayment period of commercial housing buyers. If the purchaser of commercial housing loses the source of income or the income is difficult to repay due to the impact of the epidemic, the purchaser may apply for a reasonable and appropriate extension of the repayment period. In principle, the extension period shall not exceed 3 months in principle. Encourage financial institutions to negotiate with home buyers to properly reduce and exempt personal housing loan interest for home buyers who have temporarily lost their source of income due to the epidemic and reduce the pressure on their repayment funds.

Tolerant to go through the formalities related to the admission of children of commercial housing buyers. For commercial housing projects that have been agreed upon by buyers and sellers and confirmed by the housing management department to be delivered before August 31, 2020, the purchaser is in compliance with the relevant policies of Wuhan City to buy a house and settle or relocate the household, but it cannot be processed in time due to the impact of the epidemic. For settlement or account relocation procedures, the purchaser can apply to the district where the house is located for the acceptance of children ’s acceptance by the commercial house sales contractFor district education, the district education department shall make overall arrangements for admission. Buyers should promise in writing to complete the relevant procedures before December 31, 2020. If they do not complete as promised, the education department will continue to make adjustments to the schools where their children continue to receive compulsory education.