Besides the prestigious investors, the housing market in Ho Chi Minh City still some investors do business snatching, even signs of fraud by running profit. Therefore, identifying the owner or project of a problematic apartment is very necessary for homebuyers.
To identify a number of projects that investors have deceptive signs may adopt some of the following manifestations:
First Sign: Self Name Owner
The first sign of fraud is clearly “unofficial, not prosperous” as the investor. Housing projects require a lot of legal procedures of state agencies on land, project approval, planning, construction and conditions before launching transactions on the market.
The problematic projects are usually not “owners”, they confess the name of the project owner but the fact that the project is not available, the land belongs to other people, even the ghost project. There are also cases where they signed brokerage contracts with investors and landowners but then confessed to being investors in the project introduction information, in the documents signed, received money from the buyer.
The buyer needs to check the seller’s information about the company name, address, charter capital, etc., and other projects to verify the information of the seller.
Second Sign: Project information is lacking and vague
Often the projects have strange expressions that do not have any legal documents on the project, or have “head but no tail”. These projects, brokers can lead buyers to see the field but to the people right next to the project, the local government also do not know the what project, who is the owner.
The construction is urgent to show buyers trust money. Information on the project at the project information board, investors, construction units … no or unclear.
One common way to apply is to find even the project brokers right next to compare and verify historical information of the investor and the project. Projects close to each other are often direct competitors, so it is easy to ask and hear a lot of the opposite, which is also the words “heart of the liver” of other brokers.
Third sign: The way the sales cycle
The projects show signs of unusual sales practices from brokerage staff, to information given, causing confusion among shoppers, loss of alertness, urgency …, to the use of prey , name the person who succeeded, shouting the slogan in an agitated manner … does not go into the nature of the problem: the seller – the subject – the transaction risk. They are always surrounded by “rush” rushed to sign contracts, pay money and not give the buyer time to find out more information, or have the opportunity to call relatives for consultation.
Proposals to provide legal documents for the project of the buyer are promised in the manner of signing the contract, paid money will be fully provided to customers, but now can not provide because it is kept for the public. You, the information is confidential …, then the seller turned back to speak not provide or hiding by the reason for waiting for the superior decision.
As a consequence of the above cases, the buyer loses all the money he has paid, and the house is never received. In addition, they also suffer the loss, impact on the family when the number of bank loans is still paying monthly interest, children lack the investment in learning, mental depression, sick sickness … can not be measured.
To avoid falling into these types of projects, homebuyers should choose projects that are eligible for the transaction as announced by the Department of Construction in the locality, after signing the purchase contract, require the investor to provide issue bank guarantee documents. In case the investor can not provide, he/she can initiate a lawsuit to force the investor to fulfill his / her obligations to secure the house-delivery obligation.
You are reading the article “3 Ways To Identify Unreputational Investors” in the section “Real Estate Report” on the website: https://realestatevietnam.com.vn/.
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