The most common pitfalls with purchase of real estate in Vietnam.
You need to follow next points to avoid it:
- Pay attention to which category a compound or villa falls within when making a deal with a secondary real estate;
- Make sure the amount of the quota that has already been sold to foreigners, when making a deal with a new commercial property;
- Can’t register at the place of residence without a Certificate of Ownership «Pink book»;
- Receive your Certificate of Ownership «Pink book» only after all the apartments in your compound have been sold, and the Developer will receive a permit to register the Certificates of your project. In practice, it takes up to 3 years. For example, there is no commercial project of Muong Thanh Oceanus in the list for obtaining Certificate of registration of ownership for 2020-2022;
- Can make an assignment of rights to your property before receiving the Certificate of ownership. It means that if you would like to invest and then sell when the price increase, you can do so at any time;
- Any contract for the alienation of real estate must be registered by a notary;
- Carefully review the methods of payment for the property.
Read also:
Methods of payment for real estate and money transfer to Vietnam
Expenses for housing maintenance and utility service in Vietnam
