{"id":5196,"date":"2022-08-29T16:46:55","date_gmt":"2022-08-29T09:46:55","guid":{"rendered":"https:\/\/pl-partners.vn\/?p=5196"},"modified":"2023-01-12T10:25:35","modified_gmt":"2023-01-12T03:25:35","slug":"conditions-for-investors-to-put-condos-up-for-sale","status":"publish","type":"post","link":"https:\/\/pl-partners.vn\/en\/conditions-for-investors-to-put-condos-up-for-sale\/","title":{"rendered":"Conditions for investors to put condos up for sale?"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"color: #000000;\">In recent years, people&#8217;s demands for housing are increasing rapidly, especially for condos, because of their modernity, convenience, and reasonable price. However, many investors take advantage of buyers&#8217; lack of understanding of real estate law and legal loopholes to raise capital and put housing up for sale when they are not eligible to do so. This behavior is considered illegal, leading to the result that the buyers become &#8220;broke&#8221;, both losing money and having no house to live in.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Therefore, in the article below, PL &amp; Partners Law Firm would like to present to readers the conditions for investors to put condos up for sale according to applicable laws, please read for reference.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">N\u1ed9i dung b\u00e0i vi\u1ebft<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pl-partners.vn\/en\/conditions-for-investors-to-put-condos-up-for-sale\/#1_WHAT_IS_A_CONDO\" title=\"1. WHAT IS A CONDO?\">1. WHAT IS A CONDO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pl-partners.vn\/en\/conditions-for-investors-to-put-condos-up-for-sale\/#2_CONDITIONS_FOR_INVESTORS_TO_PUT_CONDO_UP_FOR_SALE\" title=\"2. CONDITIONS FOR INVESTORS TO PUT CONDO UP FOR SALE?\">2. CONDITIONS FOR INVESTORS TO PUT CONDO UP FOR SALE?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pl-partners.vn\/en\/conditions-for-investors-to-put-condos-up-for-sale\/#PL_AND_PARTNERS_LAW_FIRM\" title=\"PL AND PARTNERS LAW FIRM\">PL AND PARTNERS LAW FIRM<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_WHAT_IS_A_CONDO\"><\/span><span style=\"color: #003366;\"><strong>1. WHAT IS A CONDO?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The concept of a condominium or condo is specified in <span style=\"color: #0000ff;\">Article 3.3 of the Law on Housing 2014<\/span>, specifically:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">A condominium is housing with 2 floors or more, consists of many condos, with common walkways and stairs, having areas with private ownership, shared ownership and a system of infrastructure works for common use of households, individuals, and organizations, including condos for residential purposes only and mix-used condos for both residential and business purposes.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_CONDITIONS_FOR_INVESTORS_TO_PUT_CONDO_UP_FOR_SALE\"><\/span><span style=\"color: #003366;\"><strong>2. CONDITIONS FOR INVESTORS TO PUT CONDO UP FOR SALE?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Pursuant to the <span style=\"color: #0000ff;\">Law on Housing 2014<\/span>, the <span style=\"color: #0000ff;\">Law on Real Estate Business 2014<\/span>, and <span style=\"color: #0000ff;\">Decree 99\/2015\/ND-CP<\/span>, the investor is only allowed to sell condos when <strong>fully meeting<\/strong> the following conditions:<\/span><\/p>\n<table style=\"width: 100%; border-collapse: collapse; border-color: #000000; background-color: #faecd7;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\">\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">Having papers on land use rights, project dossiers, construction drawing designs approved by competent authorities;<\/span><\/li>\n<li><span style=\"color: #000000;\">Having a Construction Permit if required;<\/span><\/li>\n<li><span style=\"color: #000000;\">Having documents on the acceptance of the completion of the technical infrastructure corresponding to the project schedule;<\/span><\/li>\n<li><span style=\"color: #000000;\">Having acceptance minutes on the completion of the foundation of that building.<\/span><\/li>\n<li><span style=\"color: #000000;\">Having a writing notice sent to the provincial housing authority which states that the condo is eligible to be sold.<\/span><\/li>\n<li><span style=\"color: #000000;\">Having documents proving that an adequate commercial bank has guaranteed the investor&#8217;s financial obligations to the buyer when the investor fails to hand over the housing on time as committed to the buyer.<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Thus, only when the investors meet the above conditions, the condos are allowed to be up for sale. Therefore, the buyers are entitled to request the investors to provide the above-mentioned documents to know whether the condos they intend to buy are eligible for sale or not. Besides, in order to be allowed to purchase and sell condos, both the seller and the buyer must meet the conditions for being allowed to trade housing as prescribed by laws.<\/span><\/p>\n<p>\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2013<\/p>\n<h3><span class=\"ez-toc-section\" id=\"PL_AND_PARTNERS_LAW_FIRM\"><\/span><span style=\"color: #ed1c24;\"><strong>PL <\/strong><strong>AND<\/strong> <strong>PARTNERS<\/strong><strong> LAW FIRM<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #282828;\"><span style=\"color: #000000;\"><em><strong>Head<\/strong><strong>quarters<\/strong><strong>:<\/strong><\/em><\/span> <span style=\"color: #000000;\">46<sup>th<\/sup> Floor, Bitexco Financial Tower, No. 2 Hai Trieu, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>O<\/strong><strong>ffice:<\/strong><\/span><\/em> <span style=\"color: #000000;\">Lot 1.16 Viva Riverside, 1472 Vo Van Kiet, Ward 3, District 6, HCMC<\/span><\/span><\/p>\n<p><span style=\"color: #282828;\"><em><span style=\"color: #000000;\"><strong>Hotline:<\/strong><\/span><\/em> <span style=\"color: #000000;\">093.1111.060<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Email:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"http:\/\/info@pl-partners.vn\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">info@pl-partners.vn<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Facebook:<\/em><\/strong>\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.facebook.com\/PLLaw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">www.facebook.com\/PLLaw<\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong><em>Website:\u00a0<\/em><\/strong><a style=\"color: #000000;\" href=\"https:\/\/pl-partners.vn\/\"><em>www.PL-PARTNERS.vn<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.hoidapluat.net\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.HOIDAPLUAT.net<\/em><\/a><em> \u2013 <\/em><a style=\"color: #000000;\" href=\"http:\/\/www.thutucphaply.org\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><em>www.THUTUCPHAPLY.org<\/em><\/a><\/span><\/p>\n<p>\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014\u2014-<\/p>\n<table style=\"height: 93px; width: 100%; border-collapse: collapse; background-color: #ebf2ff;\" border=\"1\/2pt\">\n<tbody>\n<tr style=\"height: 93px;\">\n<td style=\"width: 100%; height: 93px;\">\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff; font-size: 16px;\">The article is based on the current legal regulations at the time of writing, and it may no longer be valid or relevant at the time you are reading it due to changes of the law. The article, therefore, is seen as reference only.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>In recent years, people&#8217;s demands for housing are increasing rapidly, especially for condos, because of their modernity, convenience, and reasonable price. However, many investors take advantage of buyers&#8217; lack of understanding of real estate law and legal loopholes to raise capital and put housing up for sale when they are not eligible to do so. [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":5102,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[168],"tags":[195],"class_list":["post-5196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-focus-tdl","tag-legal-knowledge"],"_links":{"self":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/5196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/comments?post=5196"}],"version-history":[{"count":0,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/posts\/5196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media\/5102"}],"wp:attachment":[{"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/media?parent=5196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/categories?post=5196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pl-partners.vn\/en\/wp-json\/wp\/v2\/tags?post=5196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}