Things You Must Pay Attention To In The Home Purchase Contract

Many customers when buying a house is often the seller to review the purchase contract template with very long content. They wondered what points to pay attention to in order to avoid the risk later. 

The answer to the problem is as follows: Home purchase contract is a type of legal documents of importance. The contents of the contract of sale are for the purpose of establishing the ownership of the buyer’s house, and depending on the type of house, there will be different forms of contract. Specifically:

For type of townhouse

For a townhouse type, the house must be available and have a homeownership certificate.

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Typically, a street house purchase contract will be set up at the notary office with sufficient transaction content and will be made in the form available. However, based on the characteristics of each transaction such as the status of the house, the buyer, payment, … the content of the contract may also have more emphasis on the individual characteristics to ensure the tightness and reduce the risk as well as disputes between the parties when performing the contract.

Things you must pay attention to in the home purchase contract

One of the noteworthy points for the buyer of the townhouse is that the exact amount of the payment should be recorded. In order to be safe, it is better to choose the payment through the bank (the buyer will transfer all the money to the bank, after transferring the name to the buyer, the seller will go to the bank to receive money), the process of selling the declaration. pay personal income tax, the right to cancel the contract if not to transfer the name.

For type of project home

In the case of houses built and purchased directly from the investors, in the case of built houses and already granted certificates, when notarized by the purchaser, The contract is the same as with the townhouse.

If the house is formed in the future in the project, the buyer must first see whether the project is guaranteed to be eligible for entry into the transaction and whether the bank guarantee in accordance with the law or not. In terms of form, this type of house purchase contract must be registered with the Department of Industry and Trade or the Department of Competition Management.

Things you must pay attention to in the home purchase contract

The important thing in the contract of sale of a project house that the buyer needs to pay attention to is the time limit for handing over the house, the payment schedule and the penalty, the right to terminate the contract of the investor if the buyer falls in the circumstances of late payment.

In the case of transfer of the contract of sale, the implementation of the transfer document will be made at the Notary Public. In particular, the buyer will continue to exercise the rights and obligations of the previous buyer were recorded in the purchase contract.

A note, in this case, is that the buyer will not be able to modify the purchase contract that. Therefore, before deciding to receive a transfer of a contract, the buyer should read and carefully review the terms of the purchase contract that is appropriate for him or her.

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