1. What is an apartment purchase contract?

An apartment purchase contract, although seemingly simple, is actually a complex legal agreement between the parties involved. This is not only the seller transferring the apartment to the buyer and the buyer making payments or other obligations, but also the interaction between different important factors in the transaction process.

According to each specific agreement, the apartment purchase contract will adjust a series of separate provisions to ensure that the transaction process takes place transparently, fairly and in accordance with the law. Depending on the agreement between the parties, the contract may contain provisions such as:

• Object of the contract: The contract will clearly identify the buyer and seller, confirming the roles and responsibilities of each party in the transaction process.
• Product quantity and quality: The contract will detail the characteristics, area, and quality of the apartment being purchased and sold, ensuring consistency between the buyer's expectations and the actual product.
• Actual value of the product and payment method: The contract will determine the exact value of the apartment, as well as the conditions and payment method agreed upon by the parties.
• Time, location, and method of contract execution: This includes information about the apartment delivery time, transaction location, and how to take the necessary steps.
• Rights and obligations of the parties: The contract will clearly describe the rights and obligations that both the buyer and seller must perform during and after the transaction.
• Responsibilities and dispute resolution methods: To ensure transparency and fairness, the contract will mention the specific responsibilities of the parties and stipulate how to resolve disputes if any violations occur. go out.

Transactions and agreements must strictly comply with legal regulations, bringing peace of mind and satisfaction to both buyers and sellers.

2. What are the conditions for an investor to sign an apartment purchase and sale contract?

According to the provisions of the 2014 Housing Law, investors are only allowed to sign a housing purchase contract when fully meeting the following four important conditions, each condition is an important step to ensure legality. management and transparency in the transaction process.

First, the investor needs to have a housing construction investment project dossier, with a housing technical design approved by a competent authority and a Construction License (for cases subject to Construction Permit required). At the same time, releasing mortgages on housing is an important step, especially when there is a mortgage on housing.

Second, with apartment projects, the investor must complete the construction of the foundation according to the provisions of construction law. For individual houses, it is necessary to complete investment in construction of technical infrastructure systems, including roads, water supply and drainage systems, domestic electricity supply systems, and public lighting, according to design. The plan and schedule have been approved.

Third, the investor must have a housing transaction security contract signed with a financial institution or commercial bank according to the provisions of Article 118 of this Law. This ensures stability and reliability of the payment and transaction process.

Fourth, the investor needs to have a written report and be approved by the provincial housing management agency to allow housing sales in the locality. This is to ensure that the project has been approved and meets the standards and regulations of the regulatory agency.

Along with these basic conditions, the time to sign an apartment purchase contract also depends on the investor's regulations. Normally, prepayment conditions of 15-30% of the contract value apply, but this amount must also comply with specific regulations. For example, for project-based housing projects, the investor can only receive 70% of the value of the purchased house in advance before handover and must not exceed 95% before the buyer is granted a Certificate. receive. This ensures consideration and safety for both buyers and sellers during the transaction process.

3. Things to note when signing an apartment purchase and sale contract

A real estate purchase contract plays an important role as a legal record of the decision on the transfer of a real asset, with great value and profound impact on the life of each family. Therefore, to ensure legality, both parties in the contract need to fully comply with the provisions of law.

Some things to keep in mind when signing an apartment purchase contract:

- Subjects of apartment purchase and sale contract:

• The contract needs to clearly define the item to be purchased or sold, with detailed descriptions of quantity, quality, and other standards that have been set.
• The investor and customer need to agree on the characteristics of the apartment, including quantity, quality, and manufacturer, to avoid future disputes.

- Price and payment method, payment schedule:

• The contract should describe in detail the amount, payment method, and payment schedule, as well as the requirements and responsibilities of both parties.
• The payment schedule needs to accurately reflect the construction progress of the project, and have provisions to ensure the construction progress is according to plan.

- Information about the project:

• It is necessary to have clear information about the investment term, investment type (rented land or long-term), and accompanying legal documents (approval of design, premises, construction, etc.).
• Buyers need to clearly understand this information to avoid losing ownership when the investment term ends.

- Apartment maintenance fees and service fees:

• It is necessary to clearly describe how maintenance and service fees are calculated, including the fee level and calculation method.
• Buyers need to clearly understand these costs to best prepare for apartment maintenance costs.
• With details and transparency in the sales contract, both parties will avoid unwanted risks and disputes during the transaction process. This is important to ensure legality and protect the interests of both buyers and investors.