Things that you need to know before entering into a real property sale contract
Sale and purchase of real property is defined as a high-value transaction that poses a number of potential risks, especially to the buyer. This, however, does not mean that the seller is free from risks. Let’s remember the previous case in which a house was sold at the price of VND 58 billion to the seller who then resold it at the price of VND 28 billion and earned the profit of more than VND 10 billion. Since the buyer is usually exposed to a lot of risks, this article will focus on provide necessary things of a real property sale contract that the buyer needs to know: The real property sale contract is a written document on transaction that is of legal importance to establish the buyer's right of ownership of residential real property, and may vary in terms of its representation of contractual terms and conditions, depending on the type of residential real property. With respect to existing townhouses - The right of ownership has been recognized on the Certif...