PURCHASING FUTURE BUILDING IN VIETNAM: TERM OF PAYMENT

Due to the nature of future building, sale or lease purchase of future building shall be paid by installments:

(i) the initial installment do not exceed 30% of the agreement value,

(ii) the next installments shall be conformable with real estate construction progress;

(iii)If the building has been not transferred to clients the total installment does not exceed 70% of the agreement value; if the seller or the lessor is a foreign-invested enterprise, the total installment does not exceed 50% of the agreement value.

(iv)If the buyer or the lessee has been not granted the Certificate of land, ownership of land and property on land, the total installment does not exceed 95% of the agreement value.

(v) The remaining value shall be paid when the buyer or the lessee is granted the Certificate of land, ownership of land and property on land by competent agencies. According to Real Estate Law 2014, the investor or seller must complete such paper works within 50 days from the day on which the house or the building is transferred to the buyer or from the deadline of lease purchase, except that the buyer or the renter requests in writing that they shall apply themselves for the Certificate.