Subscription refers to any form of "subscription", "internal subscription" and "VIP lottery", which is an illegal act of real estate developers before obtaining the "pre-sale permit" and is explicitly prohibited by the state.
The specific operation of "recognizing funds" is roughly as follows. First of all, consumers go to the developer to fill in their personal data and pay a lot of "sincerity money", and they will get a "certificate" with various names such as VIP card, VIP passport, VIP consumption card or subscription card. Only after obtaining these "certificates" can consumers qualify for "recognition". However, the number of consumers who are often qualified to "recognize" will far exceed the number of houses actually launched by the real estate.
The second step is the so-called "solution" (general developers will start to "solve" after obtaining the pre-sale qualification). In the case that the number of "approved" houses exceeds the actual number of saleable houses, developers generally take the form of "drawing lots" to select people who can choose houses from the "approved" consumers. After that, the selected person will choose the house number and pay the down payment, sign the subscription book or pre-sale contract, and sign the subscription contract with the developer after picking the house number. Then sign the "Pre-sale Contract" or "Real Estate Sales Contract".
Recognition-Baidu Encyclopedia