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Along with the warming of real estate in the last few years, buying or selling houses without a red book or not having a red book in our country is still popular. Many people because they are cheap hamlet investment money to buy land without red books.

The current situation of buying houses without people’s red book of the people and the risks that are easy to encounter when buying this property is nothing, are now a big problem many investors interests.

The status of buying a house without a red book

As a developing country with a low per capita income, the devaluation of the currency makes living and retirement of the majority of people difficult. For that reason, many people accept buy no red book to have room to go out for the whole family. In fact, the sale of land without a red book is publicly open, sellers accept the sale of houses without a red book at a cheap price, the buyer accepts the risks and consequences associated with the red book. As a matter of fact, “buy and sell”.

Example: A husband living in Ho Chi Minh City is planning to “take a risk” to buy a house without a red book because the price is quite cheap while the location is quite close to the center of the city. Mr. C said that because of tight financial conditions while the demand for housing is quite high, despite knowing that such purchases are risky, they still can not figure out which way is better.

Real estate experts also said that the purchase of houses without a red book is a potential risk area, but because of the attractiveness of the price makes this item has been and still exists and play for many years now.

According to statistics in Ho Chi Minh City and Hanoi, there are still hundreds of thousands of housing cases that have not been issued red books for a variety of reasons and these houses are still sold in a popular way…

Common risks when buying a house without a red book

Buying a house without the red book is always full of risks and consequences. Here are some of the risks we often encounter in the process of owning a red book house:

Difficulties arise

According to the provisions of Article 35 of Notary Law, it is clear that the case of buying and selling houses without a red book in the event of disputes of handwritten papers is invalidated.

Article 137 of the Civil Code stipulates that when the contract is invalid, the parties must restore the original situation and return to each other what has been received.

Accordingly, in the case of buying and selling houses without the red book when there is the dispute, other papers will be invalidated. When housing prices increase, home sellers intend to overturn, disputes, the buyer does not have a red book will have to hand over the house to the buyer and must accept the loss of even lost by the handwritten papers. invalid.

In addition, the purchase of houses without a red book also makes it difficult for buyers to verify the origin of the property, causing unforeseen risks. Specifically, many people who buy houses without a red book will know that their house is built on land encroachment; land has a percentage land dispute; agricultural land is even planned land; land reclaimed …

You can read more information at Vietnam Real Estate News

The value of the property is limited

In fact, the price of buying houses without the red book is very cheap. So in case you want to pledge your home to a bank for business loans, either very little or the bank cannot approve the loan due to lack of red book.

In case, after purchasing a house without a red book that you have the need to transfer to others, the purchase also occurs in the form of handwriting. On the other hand, because the house is not the red book so the search for buyers as well as the value recovered will be lower than the original price.

Buying a house without a red book is now the solution of housing thousands of Vietnamese. In some ways, owning a house without a red book will make them feel more secure in their lives to settle down. However, the implications and risks associated with red book buying are not small. Therefore, investors in general and homebuyers, in particular, should be very careful and careful before investing in this category.

You are reading the article “The Status Of Buying And Selling Land Without Red Book Took Place Excitingly” in the Real Estate category at www.realestatevietnam.com.vn. Any information sharing, feedback please email to info@realestatevietnam.com.vn, Hotline 0909890897 (24/7).
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