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Unfinished house foundation, not enough mobilization notice, but many projects have openly sold, receive deposits from customers. This is contrary to the law and potentially risky for homebuyers.

Prosper Plaza project invested by Phuc Phuc Yen Investment Company Limited and Southern Green Land Company as the project development unit. Prosper Plaza is located at 22/14 Phan Van Hon, Tan Thoi Nhat Ward, District 12 with a total land area of over 15,500sqm. Prosper Plaza has three blocks with 602 apartments, an area of 48.37sqm-65.1sqm.

At present, the new project is in the process of building pile foundation. But Southern Green has opened two blocks A, B from the end of 2016. Block C was also launched on the market on March 10 last. Customers will have to pay 20 million to hold the place. After seven days, home buyers add 15% of the contract value to make a deposit contract.

Similarly, The Western Capital project is located at 116 Ly Chieu Hoang Street, Ward 10, District 6, Ho Chi Minh City, invested by Hoang Phuc Real Estate Company Limited.

A total area of 18,486 m2 with three 36-storey blocks with the scale of 1,233 apartments. The project developer is Van Gia Phuc Co., Ltd., PHPRal is the exclusive marketing and distribution unit of the project.

According to brokerage staff of The Western Capital project, there are more than 200 customers deposit the project with the amount of VND30 million / apartment. About the progress of payment, the buyer only needs to spend 10%, equivalent to VND130 million are already owned apartments. By June 2017, customers pay VND65 million. In November 2017, customers pay VND130 million.

It is worth mentioning, this project has not finished the foundation. Within the new project to complete the site.

The Park Vista Project is invested by East Mekong Construction Commercial Services Company Limited located at 11B1, Nguyen Huu Tho, Nha Be.

The Park Vista project is built on an area of 2.4 hectares with six blocks of 27-28 stories and a construction density of 21.6%. Currently, the project is under construction and the tunnel but the project has been open since late 2016.

Under the provisions of article 55 on the condition of real estate formed in the future entered into the business of the amended Real Estate Business Law, effective from 1-7-2015, the investor must mandatory completion The new project is open for sale.

At Point, Clause 2, Article 19 of Decree No. 99-2015 guiding the Housing Law, investors may not apply the form of capital mobilization for dividing house products or for priority registration, deposit and having the right to buy houses or to allocate the land use right in the project to the capital-raising party.

“So, the real estate companies signed the deposit contract, receiving money to hold the customer’s place to mobilize capital construction when not open conditions for sale is illegal,” lawyer Nguyen Huu Quyen, Ho Chi Minh City Bar Association.

Le Hoang Chau, chairman of the HCM City Real Estate Association, said that a number of businesses have been spelling out the law by announcing the project, allowing investors to place deposits when the project does not meet the conditions about the guarantee or legal documents to qualify for the sale.

If not signed the contract, the business is not wrong. However, this poses a risk to homebuyers. Because if the investor sees the market rising, they will not sell and pay back the customer. At this point, customers have to accept.

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