What is an apartment? Everything you need to know about buying and selling this Real Estate segment.

An apartment building is a building with 2 floors or more, with many apartments, with common walkways and stairs, with private ownership, shared ownership and a system of shared infrastructure works for households. family, individual or organization. Depending on the purpose of use, apartments are divided into apartments built for the purpose of living and condominiums built with mixed use purposes for living and business.

WHAT ARE THE APARTMENTS? 

One of the prohibited acts specified in the Law on Housing is: Using the apartment for non-residential purposes; use the area to be traded in the apartment building under the approved project for trading in flammable materials, providing services causing environmental and noise pollution or other activities. affect the lives of households and individuals in the apartment building.

Thus, depending on the purpose of using the apartment building licensed by the competent authority from the time of construction, the owner may be allowed to use the apartment building for office, service or commercial purposes.

CONDITIONS ON APARTMENTS ALLOWED TO TRANSACTION

According to the provisions of Article 118 of the Law on Housing 2014, the condition for buying and selling apartments is having a certificate of house ownership; undisputed claims, is within the period of use; not be distrained for judgment enforcement, not distrained to ensure the enforcement of administrative decisions; not be withdrawn, released or demolished.

Cases in which a certificate of house ownership is not required when performing a purchase and sale transaction are when buying and selling houses to be formed in the future, buying and selling state-owned houses, social houses, or relocated houses. non-state-owned residence.

CONDITIONS FOR THE PARTIES TO PARTICIPATE TO BUY AND SELL APARTMENTS

In addition, the Law on Housing also stipulates the conditions of the parties when participating in the transaction of buying and selling apartments:

- For the seller:

• Must be the owner or the person authorized by the owner to make the purchase.
• If it is an individual, it must have full civil act capacity, if it is an organization, it must have legal status.

- For the buyer:

• If you are a domestic individual, you must have full civil act capacity and are not required to register your permanent residence in the place where the apartment building is located.
• If you are a foreign individual or a Vietnamese residing abroad, you must have full civil act capacity, be eligible to own a house in Vietnam and are not required to have a temporary or permanent residence registration. live in an apartment building.
• If it is an organization, it must have legal status, regardless of the place of business registration or establishment.
• If it is a foreign organization, it must be eligible to own a house in Vietnam. If authorized to manage, must have the function of real estate service business and be operating in Vietnam.

HOW TO CALCULATE AREA OF APARTMENT APARTMENT

According to Circular 03/2014/TT-BXD, the usable area of a commercial apartment is calculated according to the clear size, including the area of the wall separating the rooms inside the apartment and the area of the balcony. (if any) attached to that apartment, excluding the wall surrounding the house, the wall dividing the apartments, the floor area with columns, the technical box located inside the apartment.

When calculating the balcony area, the entire floor area is calculated, in the case of a balcony with a common wall area, it is calculated from the inner edge of the common wall.

WHAT ARE THE SELLING PRICE CHARGED BY AREA?

The Circular of the Ministry of Construction does not stipulate that the seller and the buyer of the apartment building must calculate the floor area of the apartment according to the size of the center of the wall or the clearance that is agreed upon by the two parties.

The two sides note, it is mandatory to specify in the contract, the floor area of the apartment to calculate the selling price is determined by any method, calculated according to the center of the wall or calculated according to the clearance to avoid possible disputes if The calculation method is not specified in the sales contract.

Regulations on the issuance of apartment pink books

Article 8 of the Law on Housing 2014 stipulates that houses and individuals have lawful houses through investment in construction, purchase, lease-purchase, donation, inheritance, capital contribution, and housing exchange. In other forms as prescribed by law, a certificate of house ownership shall be granted by a competent state agency (The house to which the Certificate is granted must be an existing house).

Article 13 of the Law on Real Estate Business 2014 stipulates: “Within 50 days from the date of handing over the house or construction work to the buyer or from the date of expiry of the lease purchase, the following procedures must be followed for the housing competent country to grant certificates of land use rights and ownership of houses and other land-attached assets to the purchaser and the lessee, unless the purchaser or the lessee requests in writing to do so. certification procedures”.

Therefore, when facing difficulties in carrying out the certificate application procedure, the buyer has the right to ask the investor to explain and assist in the implementation.

HOW long is the apartment pink book valid?

Although in fact, the Pink Book usually has a term of 50 years (depending on the apartment project), but the law does not specify how long the Pink Book is valid. The value of the Pink Book depends on the duration of the apartment.

According to the provisions of Clause 1, Article 99 of the Law on Housing 2014, the apartment use term is determined based on the grade of construction work and the quality inspection conclusion of the provincial housing management agency where the apartment is located. apartment buildings as prescribed in Clause 2 of this Article. Provincial-level People's Committees shall allocate funds for housing quality inspection.

PROVISIONS ON PRIVATE OWNERSHIP AND COMMUNITY OWNERSHIP

According to regulations, the house purchase and sale contract must show the content of the location, the common area, especially for separate houses and apartments as agreed by the parties, attach the type of documents determining the location, public and private areas.

- For apartment buildings built before July 1, 2006 (Housing Law 2005 takes effect), it is necessary to consider the content of the house purchase and sale contract and related documents and projects. If the contract stipulates that the area under private ownership of the investor with a parking space is agreed by the investor for common use, the investor must clearly define the function of the parking area as the used part. common area and the remaining area in the private area of the investor.

If the contract does not stipulate the area for parking, it shall be determined based on dossiers, documents and projects approved by competent authorities. If there is no provision on the ownership of the parking area in the dossiers, documents, or projects, the investor and the owners must agree to ensure the interests of both parties with the amount of the parking fee. vehicle must not exceed the prescribed fee.

– Apartment buildings built after July 1, 2006: Private ownership includes: The area inside the apartment, including the balcony, loggia and other areas recognized as private ownership by law; the technical equipment for private use attached to the apartment, the area under private ownership.

Shared ownership includes the remaining area of the apartment building in addition to the area under private ownership mentioned above. In addition, there is a space and system of load-bearing structures, common technical equipment in the apartment building such as frames, columns, load-bearing walls, house walls, dividing walls of apartments, floors, roofs, courtyards. rooftops, corridors, stairs, elevators, escape routes and other parts not owned by any apartment. Next to it is an external technical infrastructure system that is connected to that apartment building.

Apartment buildings built after the Law on Housing 2014 took effect from July 1, 2014 are specified in Articles 100, 101:

The private part includes: The area inside the apartment including the balcony, the loggia; other areas are recognized as private property for the owner; system of technical equipment for private use attached to the apartment or attached to another area under private ownership.

The part under common ownership includes the remaining area of the apartment building in addition to the part under private ownership. It is a community house; space and bearing structure system, shared technical equipment including frames, columns, floors, roofs, terraces, corridors and other parts not under private ownership.

In addition, public works in the apartment building area but are not subject to investment and construction for business or must be handed over to the State according to approved projects including public yards, flower gardens, parks and other public buildings. other processes defined in the contents of the approved housing construction investment project.

CONDOMINIUM MAINTENANCE CHARGE

According to the provisions of the Housing Law 2014, the apartment maintenance fee is a fee used to maintain the items under common ownership in the building that are degraded during use.

– The maintenance fee for the shared part of the apartment building that the buyer or tenant must pay is 2% of the value of the apartment or other area.

The time when the buyer or the tenant must pay the maintenance fee for the apartment building is when the house is handed over and is clearly stated in the purchase and sale contract or the lease purchase contract. Right at the time of handover, the buyer or tenant will have to pay the entire apartment maintenance fee to the investor.

– The owner is responsible for contributing additional maintenance funds corresponding to the area owned by each owner when the maintenance fee is not enough. Maintenance of the condominium includes maintenance of the privately owned part and the maintenance of the shared part. The owner of the apartment building is responsible for maintaining the privately owned part and contributing the maintenance fee to carry out the maintenance of the shared part of the apartment building.

In fact, over time, the apartment maintenance fee dispute is the most persistent and fiercest of the disputes between residents and apartment investors. Above is some information you need to know about apartments, readers can refer to to avoid risks and disputes when buying and selling apartments.

SEARCH FOR RIGHT APARTMENTS

Buyers need to determine what the purpose of buying an apartment is, to live in, to invest for profit or for business? What's the area like? Several bedrooms to choose the right apartment. Buyers can ask friends and relatives to introduce or find information on websites for sale of real estate, …

– Location: It is necessary to ensure convenience for adults to go to work, to go to school for children, convenient transportation infrastructure, avoid rush hour traffic jams, surrounding living environment… Buyers should go for real survey with many time frames, other weather, ask people around, ...

– Investor reputation: Choose a reputable investor with strong financial potential. You can view financial statements, learn about completed projects and also how investors resolve disputes, etc.

– Utilities: Ensure basic living issues, entertainment, security for the whole family.

You should not buy an apartment beyond your ability to pay, creating a burden of debt repayment, debt piled up, buying a house is not happy but the worry is heavier. To buy an apartment, buyers need about 50 -70% of house value and stable financial ability to ensure monthly repayments while still being able to pay for living expenses.

Choose a finished apartment or a project under construction?

This is also an issue that first-time apartment buyers need to consider. If you want to move in right away, you should choose completed apartments to consider the quality, existing utilities, .. but will usually have a higher selling price than the initial price offered by the investor.

For projects under construction, the price will be cheaper, but there is a potential for legal risks and handover progress, so it is necessary to choose reputable investors with financial potential.

Legal note of apartment project

The investor must have all the following documents to certify the legality of the project:

• Business license of the investor: This document is intended to ensure that the investor has a sufficient legal basis to build and operate a real estate project.
• Certificate of land use right or Decision on land allocation or land lease to the project owner: These are documents proving that the project has completed ground clearance and that the land for construction of the project is "clean land", there is no dispute. legal disputes later.
• Construction permit: Except for projects that are exempt from construction permits (according to Clause 2, Article 89 of the Law on Construction 2014), remaining apartment projects that are blatantly built without a permit will be prosecuted. fines, even suspension of construction, delay the project and seriously affect the buyer.
• Investment approval document: Ensure the approval of the competent state agency for the investment and construction of that investor's apartment project.
• Minutes of acceptance of completed project foundation: To meet the conditions of sale, there must be a record of acceptance and completion of the project foundation.

Investors must fulfill financial obligations when building and selling apartments such as Value Added Tax, license fees, non-agricultural land use tax, etc. When the householder needs to apply for a book commission, the state agency will check the status of the investor's financial obligations for that land plot, in other words, check if the investor has fully paid the above taxes and fees. .

In case the investor still owes land tax, the state agency may refuse to issue the pink book. Therefore, buyers need to carefully check this information before buying a house.

Pay attention when paying

If buying a project under construction, payment in stages should pay attention to the construction progress, payment deadline and bank interest. When updating the construction progress, you can also control the installment payment of the project. If you don't pay attention to when you pay, you may have trouble managing your money when it comes to your appointment.

The first time must not exceed 30% contract value, the next times must be consistent with the progress of real estate construction, but the total must not exceed 70% of the contract value before handing over the house.

Transparency of fees

Buyers should pay attention and understand the types of apartment fees to pay monthly such as: apartment management fees, parking fees, garbage collection fees, living expenses with common properties and public utilities, electricity, water, cable, Internet…

Note when signing the purchase and sale contract

• The contract clearly states, complete information of the parties involved. The representative signing the purchase and sale contract is the legal representative or authorized by the investor.
• Information about the apartment: What is the area? Clear area or heart wall? Handover equipment and facilities such as lights, ceilings, sanitary ware, etc. types, sizes, manufacturers, etc. This is information for comparison when receiving the apartment.
• Look carefully and understand the part of common ownership and private ownership.
• Contract value, taxes, fees, management costs, services should be clearly stated, payment method.
• Investment term, time limit for land allocation and lease for project construction: Buyers should pay attention to carefully review the term of use.
• Time of handing over the book: Within 50 days from the date of signing the handover or the expiry date of the lease purchase, the buyer must go to the competent agencies to apply for a certificate of land and house ownership. In addition, the buyer should also note the fees incurred in connection with the issuance of the pink book so as not to be additionally collected, because according to regulations, it is the responsibility of the investor.

Look carefully at the apartment when receiving the handover

If inexperienced, homebuyers should ask experienced people to check with them when they receive the apartment. Some points to note when receiving the handover such as clean water systems, drainage, electrical systems, walls and ceilings to see if they are leaking, etc.

Interior inspection: Doors, drawer slides, locks, electrical appliances, floors, etc. need to be carefully checked. If an error is detected, the investor should immediately report it before receiving the handover.

Above are some apartment buying experiences that readers can refer to to avoid disputes, scams or troubles arising when buying an apartment.

According to Cafeland

Outstanding apartment projects in Ho Chi Minh City and Binh Duong

#1 University Village Apartment – LDG SKY

Selling price: 35 million/m2

See more at: https://thuanhunggroup.com/ldg-sky-binh-duong/

#2 HT Pearl Apartment at the gateway to City. Thu Duc

Selling price: 32 million/m2

See more at: https://thuanhunggroup.com/ht-pearl/

#3 Luxury Apartment DatXanhHomes Riverside District 2

Dat Xanh Homes Riverside..

Selling price: 85 million/m2

See more at: https://thuanhunggroup.com/datxanh-homes-riverside/

#4 Fiato Premier Luxury Apartment To Ngoc Van Thu Duc

Selling price: Only from 50 million/m2

See more at: https://thuanhunggroup.com/fiato-premier/

#5 Grand Sentosa Luxury Apartment District 7

Selling price: 100 million/m2

See more at: https://thuanhunggroup.com/grand-sentosa/

#6 Diamond Boulevard Apartments National Highway 13

Selling price: From 31 million/m2

See more at: https://thuanhunggroup.com/diamond-boulevard/

#7 Lumiere Boulevard Luxury Apartment District 9

Selling price: From 49 million/m2

See more at: https://thuanhunggroup.com/lumiere-boulevard/

#8 The Global City Urban Area District 2

Selling price: From 100 million/m2 branded apartment - 400 million/m2 luxury townhouse

See more at: https://thuanhunggroup.com/the-global-city/

#9 Apartment The Privia Khang Dien Binh Tan

Selling price: From 60 million/m2

See more : https://thuanhunggroup.com/the-privia/

Hotline/Zalo for the above projects via: 0911 525 454

Source : Real Estate Project