Dobong-gu Produces 'Real Estate Transaction Practice e-Book'

Published 10 Mar.2021 07:42(KST)

PDF Available on Old Website from the 9th...Includes Key Information on Transaction Reporting for Parties (Seller/Buyer), Major Points on Housing Lease Protection, Key Provisions of the Licensed Real Estate Agent Act, and Guidelines for Real Estate Ownership Transfer Registration

Dobong-gu Produces 'Real Estate Transaction Practice e-Book'

[Asia Economy Reporter Jongil Park] The Real Estate Information Division of Dobong-gu (Mayor Dongjin Lee) is releasing valuable real estate transaction information that was confusing due to frequent amendments.

Dobong-gu has published the 'Real Estate Transaction Practice e-book,' containing essential information that both licensed real estate agents and transaction parties must know and follow, on the district’s official website starting March 9.

This e-book was self-produced by the Dobong-gu Real Estate Information Division using their accumulated know-how without additional production costs, making it highly meaningful. It consists of 86 pages, and it took four months just to edit and produce the materials, reflecting the effort involved.

In fact, due to the government's recent real estate market stabilization policies, related laws and systems have been frequently amended, making it necessary for the district to promptly provide updated real estate information reflecting these changes.

This e-book was developed as a manual that anyone can easily use anytime and anywhere, covering what residents need to know when making real estate contracts and what licensed real estate agents must observe.

The 'Real Estate Transaction Practice e-book' focuses on real estate transaction-related laws such as the Licensed Real Estate Agents Act, the Act on Reporting Real Estate Transactions, and the Housing Lease Protection Act, as well as practical real estate brokerage content.

The district expects that through this e-book service, residents will be able to access real estate information online 24/7 without visiting or calling the office, and plans to actively provide the file to licensed real estate agents to help prevent brokerage accidents.

Detailed contents include ▲the requirement for individuals involved in real estate transactions to report to the district office within 30 days from the contract date, methods for correcting reports and reporting contract cancellations ▲guidance on supporting documents such as the acquisition fund procurement plan and move-in plan required when purchasing a house ▲key points of the Housing Lease Protection Act, including tenants’ right to request contract renewal before the expiration of lease terms ▲and instructions on how buyers should apply for ownership transfer registration after acquiring real estate.

According to district officials, these are the most frequently asked questions during real estate transactions and essential points to check during contracts, so anyone preparing for a real estate transaction should definitely refer to this.

The e-book also details the basic ethics and obligations that licensed real estate agents must observe during brokerage, including contents to prevent administrative sanctions such as business suspension due to non-compliance with brokerage duties, making it immediately applicable in practice.

The 'Real Estate Transaction Practice e-book' can be downloaded as a PDF file from the Dobong-gu Office website, and the district plans to continuously update it to reflect any necessary amendments to related laws.

Mayor Dongjin Lee of Dobong-gu stated, “As the demand for housing stability increases, many residents face difficulties finding the real estate information they need. The 'Real Estate Information Notification Service for Tenants' launched last year and this newly published 'Real Estate Transaction Practice e-book' are results of the district’s administrative efforts. We expect it to be highly useful not only for parties involved in real estate transactions and lease contracts but also for licensed real estate agents working in brokerage.”