The following article will provide detailed instructions on the steps to buy and sell apartments safely and in accordance with the law.
|The article consists of 3 parts:
- Procedures for buying apartments directly from the investor
- Procedures for buying apartments indirectly from a broker
- Notes during apartment purchase
Buying an apartment is a suitable solution for many families. Because it brings outstanding advantages and benefits that you cannot ignore. Therefore, understanding the laws and procedures when purchasing is an advantage to ensure your benefits during the purchase.
I. Procedures for buying an apartment directly from the investor
The procedure for purchasing apartments directly from the investor is not too complicated. The investor representative will guide and explain to you during the process. However, you should do research and pay attention to the following issues:
Check the documents and read the content of the apartment purchase contract carefully. Documents related to the rights and obligations of the buyer and seller.
Request correction if you wish to make changes. Then the two parties will reach an agreement to sign the contract.
II. Procedures for buying an apartment indirectly from a broker
For indirect purchases, you should follow the these steps to complete the “Apartment purchase procedure” transaction as safe as possible:
1, Initial agreement
Both parties should have an agreement to clarify deposit issues. As well as the legal status of the project.
Agreement on deposit payment time. How long does it take to issue a notarized contract? Apartment handover time, taxes that need to be paid, etc. if you do not buy the apartment directly from the owner. The seller must have authorization to perform the transaction.
2, Deposit process when purchasing an apartment
When making a deposit, it requires the presence of the buyer, seller and third party witnesses. This procedure should be carried out at a notary office. The notary office will check the validity of the apartment being sold on the system so that the apartment purchase are legal.
3, Notarized apartment purchase contract
After completing the deposit procedure, the contract will be notarized at the notary office. And the papers
The seller needs to prepare to notarize the contract including:
Certificate of apartment ownership. Seller’s household registration and identity card. Registration tax declaration.
Certificate of marital status.
Documents that the buyer needs to bring: ID card, household book and marriage certificate if in the name of both husband and wife.
4, Perform tax declaration when buying and selling apartments
After signing the contract and notarizing it within 10 days. You must complete the tax declaration procedures. And set a date
to pay taxes according to the provisions of law.
5, Complete home ownership procedures
This is the final step of owning an apartment. If you have completed the above steps but have not yet registered with the competent state agency for certification. The buyer has not yet been able to establish his or her ownership rights. To complete the steps of buying and selling an apartment, you need to prepare additional documents:
Certificate of home ownership.
Notarized transfer agreement of the buyer.
Property change registration declarations of the Districts.
After submitting all documents to the District’s committee. In 3 weeks you will get the registration book.
Note: If the new apartment has a “Purchase Contract” that has not yet been issued an ownership certificate, skip step 5. After completing step 4, you will receive a tax receipt. Take this sheet along with the attached documents and send it to the Investor so they can update your information on the system.
III. Notes when purchasing apartments
For a successful transaction, you should pay attention to the following issues before deciding to buy or sell an apartment.
1. Check the terms and conditions when purchasing apartments
First you need to check the legal information of the apartment based on the following conditions:
Legalities such as certificate of ownership. Buy, sell, rent social housing,… Are there any disputes or complaints?
Not subject to a land recovery decision. There is a notice of house clearance and demolition from the competent authority.
For apartments formed in the future. You must ask the investor to provide legal documents
from the construction division. Regarding purchases such as: Construction permit. Acceptance of technical infrastructure works according to project schedule. Project documents, construction drawings, etc. to ensure the purchasing process.
2. Check contract registration
The investor needs to carry out and complete the procedures for registering apartment purchase and sale contracts with the Department of Industry and Trade. Before signing with customers. In the field of apartment purchase. Registration of this contract
is known by many other names such as: Apartment purchase contract, housing purchase agreement, available apartment purchase and sale contract, etc.
3. Does the apartment purchase and sale contract have to be notarized?
According to the provisions of the Housing Law, the purchase and sale of apartments must have contracts notarized at competent agencies, contracts authenticated at notary organizations or at the People’s Committee of the place where the apartment is located. A small note for you is that in the case of buying or selling a state-owned house, notarization is not required.
4. Reading the contract is important work
In addition to contract forms registered at state agencies. You should carefully check each clause in
the investor’s contract to ensure maximum benefits. At the same time, it aims to limit risks and
disputes. You should consult experts or lawyers to review the contract before signing.
Hopefully with this “Detailed instructions on apartment purchase procedure”, we can help you know how to carry out the most convenient and safe apartment purchase procedures.
Ny Nguyen (BT)
The characteristic of real estate lies in its great value, so purchase procedure requires a professional broker who is knowledgeable about the law as well as familiar with real estate law. Tuong Phat Land’s team with many years of experience in the profession is always ready to accompany customers. If you have any questions, please leave a comment or call our hotline number.
Sincerely yours!
