Consult ministries and banks on real estate transaction inadequacies

The Government Office asked ministries and banks to comment on Ho Chi Minh City's proposal to solve real estate-related shortcomings before September 30.


Specifically, the Government Office asked the Ministry of Justice, the Ministry of Construction, the Ministry of Finance, the Ministry of Natural Resources and Environment, and the State Bank of Vietnam to comment on the Official Letter No. 3753 of September 13, of Ho Chi Minh City People's Committee, in order for The Department to submit to the Prime Minister for consideration and decision.


Previously, PLO on September 18 published "Ho Chi Minh City to propose the Prime Minister to remove real estate transactions" reflecting current regulations on real estate transactions, especially real estate formed in The future is generating many difficulties and obstacles in the above petition of Ho Chi Minh City.



Buyers need to carefully review the project's documentation before buying any money. Artwork: HTD


Four proposals and recommendations of Ho Chi Minh City include: Amending regulations on future real estate transactions of investors with credit institutions, individuals and organizations in the direction of notarization to ensure the strictly, protecting the interests of customers and preventing violations of enterprises operating in real estate business (if any).


Specific provisions on real estate transactions through the form of "Contract of capital contribution", "reservation"... for future houses in housing construction investment projects.


Additional administrative sanctions "suspending real estate business up to 12 months" for acts of non-disclosure, incomplete publicity or incorrect content of the status of real estate as prescribed.


According to Kim Phung