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Authorization contract to buy and sell apartments in Vietnam

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My wife and I intend to buy an apartment in Hanoi, but due to some objective reasons, we cannot do the purchase and sale procedures ourselves. My lawyer asked me, can I authorize someone else to do the procedures for buying and selling an apartment? What are the steps involved in buying and selling an apartment? How is an apartment purchase and sale authorization contract drafted? Looking forward to the lawyer’s answer, I sincerely thank you!

Thank you for sending your question to Lawyer X. In the article below, we will answer your questions. Hope this article brings a lot of useful things to you.

  • Civil Code 2015
  • Housing Law 2014

What is the process of buying and selling an apartment?

Initial agreement

This is the first step and plays a decisive role in reaching an agreement to buy and sell an apartment. Accordingly, the buyer must choose an apartment that is suitable for his or her needs along with reaching an agreement on the price, time to carry out the purchase and sale, and hand over the apartment… with the seller.

Deposit to buy an apartment (if any)

Clause 1, Article 328 of the 2015 Civil Code states:

Deposit is when one party (hereinafter referred to as the depositor) hands over to the other party (hereinafter referred to as the depositee) a sum of money or precious metals, gems or other valuables (hereinafter collectively referred to as the depository). as a security deposit) for a period of time to secure the conclusion or performance of the contract.

Accordingly, a deposit is a measure to ensure that the purchase and sale of an apartment will be carried out without being a mandatory procedure. Therefore, if the parties have an agreement, the parties will make a deposit before the official purchase and sale.

However, in addition, the deposit is not required to be notarized or authenticated. Therefore, the two parties can handwrite the agreement to each other.

If the parties want to be assured of legality, the parties can choose to go to a notary practice organization to notarize the apartment purchase and sale contract.

Notarized apartment sale and purchase contract

Unlike a deposit contract that may not need to be notarized or authenticated, an apartment sale and purchase contract must be notarized according to the provisions of Article 122 of the 2014 Housing Law, unless the apartment building is:

Housing owned by the State.

Social housing, housing for resettlement.

One of the parties is the organization registering the real estate business (according to Point a, Clause 1, Article 8 of Decree 02/2022/ND-CP).

In order to notarize the apartment purchase and sale contract, the buyer and the seller must follow the procedures below:

Documents required: According to Articles 40 and 41 of the Law on Notarization, the notarization dossier of the apartment sale and purchase contract includes: Notarization request form; identification papers of the parties (ID card/Citizen ID card, household registration book…); papers on apartment buildings; authorization contract (if any)…

Notarization locations: Notary practice organizations include notary offices or rooms (according to Clause 4, Article 122 of the Law on Housing 2014).

Processing time: 02 – 10 working days.

Transfer the name of the apartment to the buyer

After signing the apartment purchase and sale contract, handing over the purchase and sale money and documents related to the apartment, the buyer will carry out the procedures for transferring the apartment’s name. Accordingly, when transferring the apartment name, the parties will have to perform the following steps:

Declare taxes, fees and charges

This is the obligation of both the seller and the buyer. In which, according to the provisions of Decree 10/2022/ND-CP on registration fees, Circular 92/2015/TT-BTC on personal income tax, the parties can agree on the taxpayer, fee, fees. If no agreement is reached, then:

  • The person who must pay the registration fee is the buyer. The registration fee is 0.5% of the value of the apartment for sale.
  • The person who must pay personal income tax is the seller. The personal income tax rate in the normal case is 2% of the transfer price.

Submit the application to the name of the apartment pink book

When transferring the name of the apartment pink book to the buyer, the buyer must submit a dossier to the One-Stop-shop section of the commune-level People’s Committee or the district-level branch land registration office where the land is located, including:

– Register for volatility.

– Apartment sale and purchase contract.

– Certificate of apartment ownership (original).

– Personal income tax declaration and documents proving tax exemption (if any).

– Registration fee declaration and proof of registration fee exemption.

Related articles:

Is it possible to authorize the purchase and sale of an apartment?

When buying and selling an apartment, the parties can authorize another person in the steps of signing a deposit contract, signing a purchase and sale contract and transferring the name of the apartment because at least the parties usually go to see the house themselves, agree to the initial agreement. negotiate with the other party to reach an agreement of their own.

Therefore, in the initial agreement step, there are very few cases of authorizing others, but usually people just wonder if it is possible to authorize someone else to do the deposit, purchase and transfer.

According to Article 562 of the Civil Code, an authorization contract is defined as follows:

An authorization contract is an agreement between parties whereby the authorized party is obligated to perform work on behalf of the authorizing party.

Accordingly, the characteristics of authorization include:

– Due to the agreement between the parties about one party performing a certain job on behalf of the other party.

– There may be remuneration or no remuneration (also agreed upon by the parties).

At the same time, at present, the law only does not allow the parties to authorize in some cases such as:

– Marriage registration (Clause 1, Article 18 of the Law on Civil Status).

– Divorce (Clause 4, Article 85 of the Civil Procedure Code).

– Apply for a Criminal Record Certificate No. 2 (Clause 2, Article 46 of the Law on Judicial Records).

– Notarization of wills (Article 56 of the Law on Notarization)…

And especially, in non-authorized work, not including deposit, sale or transfer of apartment. Therefore, you have the right to authorize another person to carry out the procedures for buying and selling an apartment if you cannot do the above procedures yourself.

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Finally, hope this article is useful for you to answer the question about “Authorization contract to buy and sell apartments in Vietnam”. If you need any further information, please contact  LSX Law firm: at +84846175333 or Email: [email protected]

Frequently asked questions

What is an authorization contract?

An authorization contract is an agreement between parties, in which the authorized party is obliged to perform work on behalf of the authorizing party, the authorizing party only has to pay remuneration if so agreed or prescribed by law.

How long is the term of the authorization contract?

If there is no agreement and there is no law, the authorization contract is valid for 1 year from the date of establishment of the authorization.

What is the value of the authorization contract?

Requires the signing of both the authorizing party and the authorized party;
The making of an authorization contract requires the authorized party to agree and be required to perform the tasks stated in the contract, and at the same time, the authorized party may receive remuneration (according to the agreement, if).

Conclusion: So the above is Authorization contract to buy and sell apartments in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website:

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