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Buying house in Kunming

Rhett (5 posts) • 0

Also do you need the receipts if you are not getting a mortgage? We have may a down payment for 100% of the price.

Xiefei (539 posts) • 0

Rhett,

I believe the tax receipts are a requirement for purchasing a house, not just for mortgages (though the bank will want to see them too, as proof of income). I could be wrong, so you may want to stop by the Kunming Property Trading Center(昆明市房产交易中心) mentioned above and ask them.

Rhett (5 posts) • 0

Thanks. I phoned around several agents yesterday who all maintained that foreigners do not need tax receipts, just an employment certificate. We shall see how it develops.

Chingis (242 posts) • 0

I bought a house in another part of China, paid 100% cash, and the issue of tax recepits never came up.
Is it possible that the developer is putting this up as an excuse?

GoK Moderator (5096 posts) • 0

The developer wants money, it is unlikely it is an excuse.
If foreigners don't need tax fapio, then it is most likely the seller is ignorant of the rules for non-Chinese, but they will never admit ignorance.

The tax receipt thing cam in spring time this year, I think in February. If you bought a house before that then it did not apply. That may be the case with Chingis.

One of the things the government is trying to do is to cool down the market. The tax thing may be about controlling 'hot' money. It might also be a way of limiting the purchase of second homes.

As a foreigner we should also receive tax fapio. If we are on the right visa we should be able to get them. On the wrong visa we cannot pay tax, even if the employer deducts it, it isn't paid.

Rhett (5 posts) • 0

The developer is trying everything to back out because they can get a much better price than we paid. My tax receipts are issued in Xishuangbanna and according to the developer they must be from Kunming.

However, the information you give me is very useful - both the non-necessity of tax receipts for foreigners and that the law only changed in Feb (we paid for the house in Dec). Thanks.

HFCAMPO (3062 posts) • 0

I just purchased a small home for my wife here in Kunming. Learned many lessons. If anyone needs some help or is thinking of buying, let me know if you have any questions.

redjon77 (510 posts) • 0

Some how I think your 'lack' of knowledge doesn't really count when it comes to your opinions!

Just a feeling lol

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