In Vietnam, the number of foreigners owning houses is currently around 3,000, with projections indicating a surge to approximately 4 million in the future.
For those curious about the current documents and procedures for foreigners buying houses in Vietnam, Vietnam Insider provides valuable insights in this article.
Case 01: Direct House Purchase Contract with the Investor
Step 1: House Purchase and Sale Contract
When entering a house purchase contract, it is crucial to include the following key details:
- Information of the seller and buyer.
- Object of the contract: Describing the features of the transactional house and the associated residential land plot.
- Clear delineation of jointly owned and privately owned sections for apartments.
- Housing delivery time.
- Payment terms and methods.
- Warranty period for newly built houses.
- Rights and obligations of the parties.
- Effective date of the contract.
- Signatures with clearly stated full names, and if applicable, organization stamps and the position of the signer.
Step 2: Appraisal and Authentication of the Contract
Step 3: Certificate of Housing Ownership Application
- If purchasing from a project investor, the investor handles Pink Book issuance procedures.
- Individuals and households can personally undertake Pink Book issuance procedures if needed.
Case 02: Foreigners Using Commercial Housing Contract Transactions
Step 1: Contract Transfer Document Preparation
The transferor and transferee collaborate to prepare a transfer document for the housing purchase and sale contract. Key points:
Six copies of the contract are made: three for the investor, one for the tax authority, one for the transferor, and one for the transferee.
Step 2: Notarization or Authentication of the Transfer Contract
- Housing transfer by an enterprise or cooperative with real estate functions does not require notarization.
- If the transferor lacks real estate business functions, notarization and authentication are mandatory.
Step 3: Declaration of Taxes, Fees, and Charges
Step 4: Investor Confirmation of Transfer Document
Step 5: Certificate of Housing Ownership Implementation
Stay informed with Vietnam Insider to keep abreast of the latest updates on regulations and procedures for foreigners engaging in real estate transactions in Vietnam.