[Beginner's Guide to Renting] 'Landlord Can't Come' Means 'Agent'... Thorough Verification Is Essential

[Asia Economy Reporter Lee Chunhee] When you become a real estate reporter, friends sometimes suddenly message you on KakaoTalk. "How do I apply for a housing subscription?" "What is first priority?" For the 2030 'Burin-i (Real Estate + Child)', for whom the subscription savings account is just an account their parents opened when they were young, I am trying to create a guide.

When looking for a new home, there are cases where the homeowner lives in a province or overseas or is too busy to come, so the contract is made with a 'proxy' such as a relative or a licensed real estate agent. Also, in cases of joint ownership between spouses, the spouse with a relatively smaller ownership share may make the contract with the consent of the other spouse.

However, sometimes serious problems arise after making a contract with such a proxy. There have been cases reported in the media where an agent made a contract for the same house without any consultation with the homeowner, and then the person who actually made the contract with the homeowner appears a few days later claiming the contract is illegal. There are also occasional cases where, after signing a lease contract, the agent creates a forged contract with the homeowner as if it were a monthly rent contract, hands over only half of the deposit, and then absconds with the remaining deposit.

Therefore, when making a real estate transaction contract with a proxy who is not the owner, various precautions must be taken. The first thing to check is the basic documents. First, there must be a power of attorney, and you must also verify whether there is a supporting certificate of seal impression (Ingam Jeungmyeongseo).

For the certificate of seal impression, the validity period is generally considered to be one month after issuance for sales and about three months for lease contracts. If the certificate was issued quite some time ago, requesting a newly issued certificate is one way to ensure validity. Also, the certificate states its purpose, so it is good to check whether the purpose is 'for real estate contract.'

Regarding documents such as the power of attorney, you should also obtain the certified copy of the register (deunggibu deungbon) of the relevant house to verify that the information related to the owner is properly recorded. Of course, it is also important to verify the proxy’s identity through their ID card, resident registration, and family relation certificate.

In these situations, the agent has an obligation to verify and explain. Therefore, if the proxy is a family member or relative of the homeowner, it is recommended to ask the agent to verify and explain all related matters and then prepare a verification explanation document. Since this is a legal obligation of the agent, it is best to insist on it.

Even if the contract is made with a proxy, it is also a good method to secure as much connection as possible with the homeowner. It is important to confirm the delegation by contacting the owner by phone or to secure safety measures such as depositing the transaction amount into an account under the homeowner’s name. If the proxy has not been authorized to receive the transaction amount, the payment must be deposited to the actual contracting party, the owner.