Selling Land But The Investor Does Not Give The Contract To Customers

Recently, the inventor of the Gold Hill project (Trang Bom, Dong Nai) signed a contract with the client, but the real value of the plot from VND650 million to nearly VND400 million.

On October 11, husband and wife of Dinh Thanh Trung (who bought land plot GHL.018 – 16 at Gold Hill project, paid close to 300 million dongs but received only 2 receipts without contract) Long Kim Phat Real Estate Construction Joint Stock Company have signed with them.

Accordingly, the couple signed a contract with Long Kim Phat Company to transfer the land use rights to build houses in the residential area of Trang Bom Town (Gold Hill). The product code is GHL.018 – 16. The contract number is 120 / HĐNT.GH.

***See more information about the real estate market here: Vietnam real estate market

Long Kim Phat Company has to hand over the land which has been invested in infrastructure construction: traffic system, water supply and drainage system … At the same time, Long Kim Phat is responsible for ensuring the legal status of the project. and procedures for granting land use right certificates, within 9 months from the date of handing over the land.

Mr. Trung’s wife is responsible for payment under the contract and together with Long Kim Phat registered the land use right at the competent State agency. When paying 98% of the amount stated in the contract, Long Kim Phat will give land for the couple.

Selling land but the investor do not give the contract for customers

Investing land has always been worrying

The contract signed with Long Kim Phat company, his wife Trung only paid 394,220,925. In particular, the land value is 223,300,000 dong and technical infrastructure value is 170,920,925 dong. This amount was paid to Long Kim Phat Company in 4 installments.

In fact, Trung and his wife have to pay up to VND570 million for GHL.018-16, higher than the contract amount of over VND175 million. Kim Phat Company has sold the plot of GHL.018-16 for the husband and wife at the price of VND725 million. After the discount is 650 million. Between Kim Phat and Trung and his wife have signed a separate contract but Kim Phat did not give the couple Trung holding the contract.

When we reflect on the matter, Kim Phat invited Trung to work and cut down another 80 million. It is worth mentioning, Kim Phat is the only real estate trading floor, not function contract with customers. Kim Phat Company is only advised, introduced and collected deposit to buy land in the Gold Hill project.

After that, Kim Phat company must transfer the deposit to Long Kim Phat within 24 hours. Customers will sign a contract with Long Kim Phat Company. Here, Kim Phat has raised prices by up to 100% compared with the original price to hook customers. Long Kim Phat Company and Dat Xanh Group are the owners of Gold Hill Project but do not control this issue.

Thanh Thanh, his wife Dinh Thanh Trung said: “Hold the contract in the new low end. Through this, we also learned a lot in the sale of land. “

Thus, with this contract, Ms. Thanh and Trung only have to pay the investor Gold Hill project nearly 400 million to buy land. All land transactions from this time no longer related to Kim Phat. At the same time, she is not responsible for paying the difference of Kim Phat arbitrarily raised the land price.

Selling land but the investor do not give the contract for customers

Project Gold Hill, where Mr. Trung bought the land.

As we have already reflected, Kim Phat Real Estate JSC has collected more than VND300 million to sell the land at Gold Hill Project (Trang Bom, Dong Nai) but did not deliver the contract to customers.

Victim of Kim Phat is husband and wife of Dinh Thanh Trung (District 9, HCMC). Accordingly, in August, a 100-square-meter plot of land at the Gold Hill project was purchased for VND725 million. After being discounted, the amount of money he and his wife pay to Kim Phat VND650 million.

>>>Update on new information on the real estate investment in Vietnam here: Vietnam real estate investment

In early August, Trung deposited for Kim Phat’s employees VND20 million but not receive the receipt. On August 12, Mr. Trung handed over 197,500,000 dongs to pay for a plot of land GHL.016-18 but was also not awarded a contract of sale. Employees of Kim Phat told his wife Trung to pay the second installment of the contract.

On August 30, Trung and his wife continue to pay the second installment with the amount of 79,750,000 dongs but Kim Phat has not signed the contract. Kim Phat was authorized to distribute the Gold Hill project but changed its name to Dragon City. On the receipt of Trung also recorded land lot GHL.016-18, Dragon City project.

After we posted the article “Selling ground land but not delivering contract”, “Kim Phat can be charged for deceptive behavior” and “Long-term business, low customer”, so far, Long Kim company Phat has signed contracts with customers.

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