The Real Estate Floor Carries Banners For Debt Collection

Brokerage fee and deposit were not paid as agreed, so Kim Phat Company had brought the banners through the headquarters of Dat Xanh Group to collect debts.

On October 20, representatives of Dat Xanh Group confirmed many employees of Kim Phat Real Estate Joint Stock Company has strained the banners at the headquarters of Green Land Group in Binh Thanh District to collect debts. The content on the banners said “Long Kim Phat Company is a company belonging to Dat Xanh Group pay broker fees for us”.

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

“This incident caught the attention of many nearby people and travelers. About five minutes later, the authorities were present and invited these people to the Ward 24, Binh Thanh District work, “the representative said.

According to the representative of Dat Xanh, the incident originated from the difficulties between Kim Phat Company and Long Kim Phat Construction Joint Stock Company (a subsidiary of Dat Xanh Group) house in Gold Hill project in Trang Bom district, Dong Nai province.

Meanwhile, Kim Phat Company said that Long Kim Phat and Dat Xanh Group delayed payment of project brokerage fees and deposits as agreed, causing difficulties for the company. You should wear a banner to collect your debt.

Long Kim Phat debt collection, a subsidiary of Green Land Group.

Kim Phat Company said as of 30-9-2016, this company has successfully brokered 105 land products under the Gold Hill project. However, the project owner gave unreasonable reasons and failed to pay the brokerage fee to the company with a total amount of more than VND 6.3 billion.

Of which, the deposit is VND1.05 billion. Gold Hill project service fee in August 2016 with the amount of VND 2.78 billion. The service charge for the Gold Hill project in September 2016 was VND1.74 billion and the total brokerage proceeds were more than VND760 million.

Kim Phat Company requested Long Kim Phat Company to liquidate the contract and pay all the brokerage fees and refund the deposit to the company for seven days from October 18, 2016. Kim Phat will take legal action against Long Kim Phat.

On the afternoon of October 20, Mr. Tran Cong Luan, General Director of Long Kim Phat Company, signed a document to press agencies and the HCMC Real Estate Association to provide information and protect the interests of the customer.

In the document, Mr. Luong said Kim Phat arbitrarily raised the selling price of land, the difference of customers’ money in contravention of regulations, arbitrarily collect payment of customers contracts without permission, provide information deviation of the project, arbitrarily renaming the project greatly affect the reputation of the investor.

Letters from Long Kim Phat also refer to the three articles we have previously reported, “Selling land without the contract,” “Land for sale but not signing contracts: Signs of fraud?” And “Buying land, Clients are nearly double the price. ” Mr. Luan affirmed: “Kim Phat has violated many serious issues in the process of conducting business under brokerage contracts.

“Recently, many customers have complained about Kim Phat ‘s price increase and collection fees. At the meeting between investors, customers and Kim Phat to resolve complaints of customers, Kim Phat committed on October 12 will refund money to customers. Investors have repeatedly requested the implementation of customer commitments, but Kim Phat has not yet implemented, “he said.

The Gold Hill Project, where the brokerage dispute occurred.

In order to protect the interests of land buyers, to handle the complaints of customers, Long Kim Phat has not paid brokerage fees to Kim Phat to request the company to resolve the interests of customers. “We are committed to protecting the interests of land buyers,” Luan said.

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

Real estate consultancy and brokerage contract for Gold Hill project were signed by Long Kim Phat with Kim Phat on May 16. Accordingly, Long Kim Phat agrees to Kim to distribute exclusive Gold Hill project with more than 130 land plots. Gold Hill project is located in Trang Bom district, Dong Nai province with total area of 26.57 ha.

The Gold Hill Project, where the brokerage dispute occurred.

Earlier as we reflected, Kim Phat had collected more than VND300 million to sell the land at the Gold Hill project but did not hand over the contract to customers.

Victim of Kim Phat is husband and wife of Dinh Thanh Trung (District 9, HCMC). Accordingly, in August, he and his husband Trung bought a piece of land 100 m2 at Gold Hill project with the amount of VND 725 million. After being discounted, the amount of money he and his wife pay VND 650 million for Kim Phat.

In early August, Trung deposited for Kim Phat’s employees VND 20 million but not receive the receipt. On August 12, Trung handed over VND 197.5 million to pay for a plot of land GHL.016-18 but was not assigned a sale contract. Kim Phat’s agent told his wife Trung to pay the second installment of the contract.

On August 30, Trung and his wife continue to pay the second phase with the amount of VND 79,750,000 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 the information, on October 11, the couple was signed by Long Kim Phat Company contract sale. According to the contract, Trung and his wife pay only VND 394,220,925 for land plot GHL.016-18. In particular, the land value is VND 223,300,000 and technical infrastructure value is ND170,920,925 V. This amount was paid to Long Kim Phat Company in four installments.

In fact, Trung and his wife have to pay up to VND570 million for plot GHL.018-16, higher than the amount written in the contract over VND175 million. Currently, the couple has repeatedly contacted Long Kim Phat and Kim Phat to recover VND175 million but not resolved.

You are reading the article “The Real Estate Floor Carries Banners For Debt Collection” in
the section “Real Estate Report” on the website: https://realestatevietnam.com.vn/.
All information sharing, feedback please email to contact.vietnamrealestate@gmail.com, Hotline (+84) 898 898 688 (24/7).
Thank you for visiting our website!