The process of buying apartments from investors in Vietnam

In our future plan, my wife and I have found a quite satisfactory shared apartment in Dong Da district and plan to buy this apartment. However, there are some matters that we don’t know much, For example, we don’t know what documents I need to prepare to buy this apartment. So about the matter “The process of buying apartments from investors in Vietnam” Let’s find out with LSX in the article below.

Legal grounds

• Housing Law 2014

What is the law on apartment buildings?

According to Clause 3, Article 3 of the Law on Housing 2014, the apartment building is explained as follows:

“3. An apartment building is a house with 2 floors or more, with many apartments, with common walkways and stairs, with private ownership, shared ownership and a system of infrastructure works for common use by households. , individuals and organizations, including condominiums built for residential purposes and condominiums built with mixed-use purposes for residential and business purposes.”

When is the apartment for sale and purchase?

Apartment apartments may participate in purchase and sale transactions when fully meeting the following conditions:

• Have a Certificate in accordance with the law.

• Not subject to a dispute, complaint or claim about ownership; are in the period of house ownership in the case of house ownership with a definite term;

• Not being distrained for judgment enforcement or distrained to comply with legally effective administrative decisions of competent state agencies;

• Not subject to a decision on land acquisition, a notice of house clearance or demolition issued by a competent authority.

The process of buying apartments from investors in Vietnam

After completing the work, the investor of a housing development project is responsible for submitting the following documents to the Land Registration Office (Department of Natural Resources and Environment):

• Project approval decision or investment decision or investment license or investment certificate (certified copy);

• Decision approving detailed construction planning of 1/500 scale (with attached drawings); construction permit (if any- Authenticated copy);

• Decisions on land allocation or land lease by competent agencies; documents of fulfillment of financial obligations of the housing development project owner (except for cases of exemption or late payment as prescribed by law) (certified copy);

• The built-up house and land plan is the as-built floor plan or ground design drawing with the dimensions of each sold apartment in accordance with the construction status and the signed contract; a list of apartments and construction works for sale (with information about apartment number, land area, construction area and common and separate use area of each apartment); In the case of an apartment building, the diagram must show the scope (size, area) of the common land used by the apartment owners, the construction site of the apartment building, the floor plan of each floor and each apartment (the copy of the apartment building). certified copy);

• Report on project implementation results (original);

• Certificate issued to the investor (original) (if any).

After having the results of inspection and appraisal of the application for eligibility to transfer land use rights or sell houses of the project investor; The investor of a housing project shall submit an application for registration and grant of a certificate of land use rights and ownership of houses and other land-attached assets on behalf of the recipients of the transfer of land use rights or purchase of houses. construction works or provide documents to the buyer for self-registration in accordance with law (Clause 2, Article 120, Housing Law). The procedure and sequence are as follows:

      Step 1: Prepare documents:

      1. An application for registration of land and land-attached assets, and issuance of a certificate of land use rights and ownership of houses and other land-attached assets (made according to form No. 04a/DK) (original);

     2. Contract on transfer of land use rights, purchase and sale of houses and construction works as prescribed by law (the original);

      3. Minutes of handing over houses, land and construction works (original);

      4. Enterprise registration certificate (copy);

      5. Minutes of liquidation of house purchase and sale contract (if liquidated) (original);

      6. The value-added invoice or the investor’s document certifying that the home buyer has fulfilled his financial obligations (the original);

7. Location map of the apartment and floor plan of typical houses with apartments showing the size of the apartment (Copy);

     Note: In case the contract of purchase and sale of future houses has been transferred before the effective date of Decree No. 71/2010/ND-CP, a written transfer of the house sale and purchase contract is required. of the transfers have been notarized and authenticated according to regulations. In case the document on transfer of the house purchase and sale contract has not been notarized or authenticated according to regulations, it must be certified by the People’s Committee of the commune, ward or township where the housing project is located that the People’s Committee of the commune, ward or township is located. has publicly announced the making of dossiers of application for Certificates within 30 working days at the headquarters of the People’s Committees of communes, wards, townships, residential groups, residential areas and at the house number plates with the application dossiers to issue the Certificate, and after the time of public announcement there are no disputes or complaints;

      Step 2: Submit your application:

At the land registration office (Department of Natural Resources and Environment) for organizations or the branch office of land registration (Department of Natural Resources and Environment) for individuals and households. Get the application form and wait for the tax notice.

      Taxes and fees payable include:

      Registration fee: 0.5%

      Book appraisal fee: 0.15% and other fees (if any)

      Step 3: Complete the profile and get the result

      After the tax notice is issued, the applicant shall complete the tax and fee obligations to the tax authority and receive a receipt.

      Submit the tax receipt at the initial application office and receive an appointment letter to return the results.

What are the disadvantages of apartments?

No product is perfect, so apartments also have disadvantages and inadequacies in daily life. So what are the disadvantages of an apartment building?

Because there is a common use space and common rules apply to everyone, it is sometimes inconvenient. Because not everyone has the same time, work, and lifestyle.

Everyone must follow the general rules of the apartment

Not every apartment project has a good soundproofing system, so you may feel uncomfortable and tired because of annoying noises and sounds.

The most inconvenience that many people face when living in an apartment is that when you want to repair, change the structure, design, you will not be able to decide for yourself. All changes related to the infrastructure and equipment of the apartment, even if you have bought and become the owner of the apartment, you will still have to get permission from the management. Waiting for management review and approval is not always quick and easy. Therefore, in many cases, residents’ plans and intentions are affected, causing discomfort and fatigue.

In an apartment building, even if you become an apartment owner, you will still have to pay fees from parking fees, service fees, elevators… Compared to real estate, the fees of the apartment are much more. In addition, the quality of apartment buildings also deteriorates faster than real estate.

Services of LSX

Prestigious professional services: Firstly, the team of consultants and consultants for many years in the field of civil status, and customer support.

On-time: Certainly, with the motto “Get your lawyer right at your fingertips”, we ensure the service always performs on time. The rights and interests of customers always come first.

Cost: Besides, LSX’s service costs are highly competitive; depending on the nature of the particular case. So, we want our guests to have the best possible service experience. Therefore, costs which guaranteed to be the most suitable and economical for customers.

Confidentiality of client information: Finally, all brand information of client LSX will be 100% confidential.

Please contact us immediately if you have any questions about “The process of buying apartments from investors in Vietnam”

Contact LSX

Above is the information of LSX Law firm about the Regulation “The process of buying apartments from investors in Vietnam” according to current law. In addition, if readers are interested in other related issues such as the service of changing land use purposes, converting pond land to red book. Please consult and contact via hotline: +84846175333 or Email: [email protected]

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Frequently asked questions

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