Legal notes to know when buying an apartment

Currently, the regulations on construction and business of condominiums are quite specific and clear. However, most home buyers do not learn about the law on apartment purchase and sale, so there are many disputes and damages.

Therefore, when buying an apartment, to partially limit the risks that may arise, the buyer should note some legal issues as follows:

Firstly, it is necessary to thoroughly understand the project status as well as the capacity of the investor. Whether the apartment building has been completed and has applied for a full construction permit, is the area of the apartment in the planning or not …
Some types of documents that buyers need to check are: business registration certificate of the investor, investment license, construction permit, red book of land, …

Second, condominium buyers need to pay special attention to the draft condominium sale and purchase agreement, ensuring that the terms of the contract are strict enough and bind the seller’s liability.

Third, the buyer needs to appraise and consider agreements on expenses other than home purchases and future expenses. Such as the cost of apartment management, security service fee, parking fee, maintenance fee, electricity and water supply price, …

Fourth, the seller must be obliged to provide a warranty for the apartment building to the purchaser for a minimum period of 60 months from the date of completion of construction and acceptance and commissioning of the building.

Warranty content includes repair and repair of damages related to house parts (floors, walls, ceilings, stairs …) and also domestic service systems (electricity, water. ..).

G3 Building of Sunshine Garden project with a view of Yen So Park

Fifth, the condominium sale and purchase contract must be notarized or authenticated to be legally valid. In the case of buying and selling an apartment building with an investor, the contract is not necessarily notarized.

However, the home buyer still has the right to request notarization or patent (a form of authentication performed by the redundant entity) to this contract to better protect his interests.

According to Doanh nhan Sai Gon

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