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Buying and selling future housing – Tricks and risks that buyers can easily encounter
Over the years, many people have been in a situation of "losing money and getting nothing" when buying apartments or houses in the future in projects that do not meet legal requirements. Investors or brokers often use tricks such as "deposit to hold a place", "proof of financial capacity" to illegally mobilize capital up to billions of dong. When the project is stalled or not licensed, buyers fall into a spiral of disputes and have difficulty demanding money.
To avoid losing money, buyers need to identify the following common tricks:
1. “Ghost projects” and tricks of capital contribution and deposit
There are many cases where buyers lose money when buying projects that do not exist or have not been licensed. Investors create grand perspectives, promising superior utilities and profit potential, but in reality, it is just an empty lot.
Another trick is to open for sale when the project does not meet the legal conditions to be put into operation. Instead of signing a sales contract according to the law, many investors circumvent the law by using capital contribution contracts, deposit agreements, and investment cooperation. When disputes arise, buyers struggle to get their money back.
2. Illegal forced payment
According to current regulations, investors are only allowed to collect no more than 30% of the contract value including the deposit for the first time, collect a maximum of 70% of the contract value before handing over the house, and no more than 95% of the contract value before issuing the certificate of ownership.
However, in reality, many investors collect up to 50-70% as soon as the foundation is completed, even forcing buyers to pay up to 90% with the “bait” of high discounts. This causes buyers to lose financial leverage to force investors to speed up progress. If the project stalls, the entire amount is almost “locked” indefinitely.
3. Contract traps
Many future housing purchase and sale contracts contain many risks:
Progress trap: The contract does not specify a specific handover date, but only states “expected” or “according to construction progress”, which allows the investor to extend indefinitely without being responsible, the buyer’s capital is locked up but it is difficult to claim compensation.
Entitlement trap: Buyers who are late in paying will be fined heavily, lose their deposit, or even have their contract canceled, while if the investor is late in handing over, they will only be fined symbolically, or no responsibility will be specified, causing an imbalance in interests. In addition, the right to unilaterally terminate the contract mainly belongs to the investor, putting the buyer in a weak position.
Financial trap: The contract only records the selling price but leaves out many additional fees such as: management fees, maintenance fees, and book issuance fees. When receiving the house, the buyer is “shocked” because the additional amount to be paid is too large. Therefore, it is necessary to specifically list all financial obligations in the contract. Some contracts do not clearly distinguish between common and private ownership, leading to disputes later, especially related to the right to use parking spaces and commercial floors.
Conclusion: Many disputes show that the main cause comes from the fact that buyers only believe in verbal promises or advertisements, ignoring legal and contractual checks. There are cases where buyers pay almost the entire value of the apartment but still cannot receive the house, because the project is stuck in legal problems or construction has stopped.
Therefore, before “paying” to buy a house in the future, buyers need to carefully study the project’s legal status, read the entire contract carefully, especially the terms on payment progress, handover, penalties, ownership rights, and compare with the model contract according to Decree 96/2024/ND-CP.
Legal regulations are only truly effective when they are properly and fully implemented. The 2023 Law on Real Estate Business has tightened many steps from legal conditions, payment progress, deposit limits to bank guarantee obligations. However, in reality, there are still investors or brokers who find ways to circumvent the law, taking advantage of buyers’ lack of knowledge. Therefore, buyers’ caution and alertness are decisive factors to protect themselves. Buyers need to carefully consider attractive offers, only deposit and sign contracts when the project meets legal conditions, and always proactively research, compare, and check to avoid major risks later.
