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Trapping Property Sales Contract

Trapping a property deal is no longer a new concept, but with increasingly sophisticated tricks, it is still over-fooling the customer.

You can read more information at Vietnam Real Estate Law

The property has always been a delicious piece of cake targeted to a lot of investors. This market is a raging place for tricks and tricks when people try to cheat each other with sophisticated traps contract sales. If not alert enough to see the problem, customers are easy to trap and of course, a large sum of money will not fly.

Trapped trades with very sophisticated tricks

Currently, there are three types of traps that are being talked about most are cheap traps, traps from contract terms of investors and traps from real estate brokers. All for the common good is profit based on ignorance and trust of others.

Trapping a cheap home purchase contract

The main tactics used in this case are the beautifully advertised advertisements, directing into the general psychology of customers such as “cheapest market price”, “savings from VND5 million to VND7 million compared to adjacent projects, ” competitive prices “and a series of commitments bring the highest profit to customers. Not all of these projects are virtual, but we are talking about the majority, in large numbers.

Trapping real estate trading contracts
Tapping on prices is a common tactic in contract traps

Actually, the above rates are exclusive of 10% VAT, 2% maintenance fee which is compulsory. Therefore, when calculating these amounts, the purchase price may add several million more.

Some investors take the price of the worst, cheapest place to promote and lure customers. Or if they do not sell the apartments, they are too rough.

Try asking if you sign a property contract trap like that, the cost of repair, the additional investment that customers have to spend how much? Is it even cheaper than the adjoining projects as advertised?

Trapping from contract terms of the owner

Investors are knowledgeable about the laws and tricks to make a profit, so they are not afraid to put in the contract property unusual terms to push the risk and responsibility to the customer.

– Contract confidentiality clause: Customers can not automatically disclose the contract with a third party, if detected by the owner, the contract will be disabled. This means that if you accidentally release the contract, customers will be empty.

– Transfer terms: Some other contractual traps have terms that customers can not arbitrarily transfer, pledge, mortgage, purchase without notice to the investor and without the investor’s consent.

Trapping real estate trading contracts
Go to the ridiculous terms

– Terms of project delivery and payment: If the investor hand over the certificate of land use rights to customers 60 days late, only compensation at the bank interest rate. If the customer pays 15 days late, the fine is up to 0.1% / day (or higher) on the unpaid amount.

– Provisional price: In the contract, the investor only recorded the temporary selling price due to not paying the land use fee for the project should not set the selling price. So when they have finished, the price will increase how nobody knows.

See more information at Vietnam Real Estate Market

Traps from the contract of real estate broker

Property brokerage is seen as a bridge between customers and investors, helping investors sell the project and providing the most profitable information to customers who want to buy a home. Of course, brokers must also benefit from these deals, but it seems they are still not satisfied with the profit.

Automatically pushes the price of the project so high, brokerage fees, false advertising on the project, direct collection of money are the tricks that brokers apply to deceive the buyer. While strictly regulated, brokers are only responsible for finding clients, advising clients and collecting brokers as required, without signing sales contracts, collecting deposits or any other fees.

If the customer discovers a fraudulent act in the contract after the signing, the cancellation of the transaction is not possible because the investor does not allow.

Faced with this risk, the buyer should contact the Department of Construction to receive the most accurate information about the project as well as assess the legal procedures of the investor in accordance with the law or not. Besides, you should also equip yourself with certain knowledge about real estate law so that you do not fall into the trap of buying and selling more and more popular property.

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