Procedures for signing a house purchase contract with the investor

by HaTrang

Knowing the conditions and areas to buy houses, foreigners need to know the regulations on documents and procedures for buying houses according to Vietnamese law. Below are the documents; order and procedures for signing a house purchase contract with the investor in Viet Nam from LSX Law firm.

Legal grounds

 Law on Housing 2014

Step 1: Make a contract

Pursuant to Articles 120 and 121 of the 2014 Law on Housing; the parties agree to make a written house sale and purchase contract with the following main contents:

– Full names of individuals, names of organizations and addresses of parties;

– Describe the characteristics of the transaction house and the characteristics of the residential land plot associated with that house. For an apartment purchase and sale contract; the parties must clearly state the part under common ownership and common use; use area under private ownership; floor area of ​​apartment construction; the use purpose of the part under common ownership and common use in the apartment building in accordance with the original approved design purpose;

– Term and method of payment;

– Time of house delivery; the housing warranty period if it is a purchase or lease-purchase of a newly built house;

– Rights and obligations of the parties;

– Commitment of the parties;

– Other agreements;

– Effective date of the contract;

– Date, month and year of contract signing

– Signatures and full names of the parties, if it is an organization, clearly state the position of the signer.

Step 2: Notarize and certify the contract

Step 3: Apply for a Certificate

The parties agree to have one party submit a dossier to request a competent state agency to issue a Certificate for that house; In case of purchase or lease-purchase of housing by the project investor; the investor is responsible for carrying out the procedures for the competent state agency to issue the Certificate to the purchaser or the lessee; except for the case where the buyer. The lessee voluntarily carries out the procedures for applying for the Certificate.

Finally, hope this article “Procedures for signing a house purchase contract with the investor” is helpful for you!

If you have any questions; please contact Lawyer X for quick; and best legal service: 84846175333; and email: hoangson@lsx.vn

Related questions

Foreigners may not own houses in Vietnam when?

Foreigners may not own houses in Vietnam when it does not meet the conditions for owning houses in Vietnam. 

When a foreigner marries a Vietnamese citizen; will the rights of owning a house in Vietnam change?

If a foreign individual marries a Vietnamese citizen; he/she is entitled to own a stable and long-term house; has the same rights as a house owner as a Vietnamese citizen. 

What are the notes when foreign individuals buy a house to live in and rent out?

Foreign individuals are allowed to lease houses to use for purposes not prohibited by Law. Before renting a house; the owner must send a written notice of the house lease to the district-level housing management agency at the house’s location. Taxes from this housing rental must be paid under the Law.

How many houses can foreigners buy in Vietnam?

Foreigners may buy and own no more than 30% of the apartments in an apartment building. If it is a separate house; including villas and adjacent houses; in an area with a population equivalent to a ward-level administrative unit; only buy, rent-purchase, receive as a gift; inherit and own no more than 250 houses. 

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