At the regular press conference on socio-economic situation of Ho Chi Minh City on June 12th, 2025, the Department of Construction informed the essential contents for customers to note when buying or pre-buying properties.
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A written confirmation of eligibility to sell is required
According to Article 8 of Decree 96/2024/ND-CP dated July 24, 2024, before signing a contract to buy or pre-buy a property, customers should check if there is a written confirmation from the Department of Construction confirming that the property is eligible for trading.
The list of future housing projects that are eligible for trading is publicly available on the website of the Department of Construction. Prospective buyers can refer to the following link: https://soxaydung.hochiminhcity.gov.vn/tinh-hinh-huy-dong-von or on the mobile application: SXD247.
Be cautious with the deposit
According to Clause 5, Article 23 of the Real Estate Business Law No. 29/2023/QH15, the project owner is only allowed to collect a deposit of up to 5% of the selling price for the sale or lease-purchase of houses, construction works, or floor area in a construction work. This deposit is collected from the payer who intends to buy or lease-purchase when the house, construction work, or floor area has met the conditions for trading as prescribed in the Law on Real Estate Business (including the written confirmation from the Department of Construction mentioned above).
The deposit agreement must clearly state the selling price, lease-purchase price, construction work, or floor area in the construction work.
Guarantee in the sale or lease-purchase of future houses
Article 26 of the Real Estate Business Law No. 29/2023/QH15 stipulates that before selling or lease-purchasing a future house, the project owner must obtain an acceptance for guarantee of financial obligations from a domestic commercial bank or a legally operating foreign bank branch in Vietnam. This guarantee is for the project owner’s financial obligations to the buyer or lease-purchaser if the project owner fails to hand over the house as committed in the sales or lease-purchase contract. The project owner’s financial obligations to the buyer or lease-purchaser include the amount that the project owner has received in advance from the buyer or lease-purchaser and other amounts (if any) as agreed in the signed sales or lease-purchase contract, which the project owner must pay to the buyer or lease-purchaser when the project owner fails to hand over the house as committed.
When signing a sales or lease-purchase contract, the buyer or lease-purchaser can choose whether or not to have a guarantee for the project owner’s financial obligations. If the buyer or lease-purchaser refuses to have a guarantee for the project owner’s financial obligations, it must be agreed upon in writing at the time of signing the sales or lease-purchase contract. If a guarantee is chosen, the guaranteeing bank is responsible for issuing a guarantee letter to the buyer or lease-purchaser who has signed the sales or lease-purchase contract with the project owner. The guarantee letter issued by the guaranteeing bank must specify the validity period.
Mortgage must be removed before signing the contract
This content is regulated in Article 8 of Decree No. 96/2024/ND-CP dated July 24, 2024; Article 183 of the Housing Law No. 27/2023/QH15; point b, clause 3 and point a, clause 4, Article 88 of the Housing Law No. 27/2023/QH15.
For commercial housing: In case the project owner has mortgaged a part or the whole project or house, the mortgage on that part or the whole project or house and the land use right must be removed before signing the contract to sell or lease-purchase the future house with the customer .
For social housing: In case the project owner has mortgaged a part or the whole project or house, the mortgage on that part or the whole project or house and the land use right must be removed before signing the contract to sell or lease-purchase the future house with the customer, unless agreed otherwise by the buyer, lease-purchaser, and the mortgagee.
Standard contract is recommended
Customers who intend to buy or lease-purchase future houses should refer to the standard contract samples in Appendix I issued together with Decree No. 96/2024/ND-CP dated July 24, 2024 of the Government, detailing a number of articles of the Real Estate Business Law.
Payment according to progress
The payment must also comply with the provisions of Article 25 of the Real Estate Business Law No. 29/2023/QH15.
Accordingly, the payment for the sale of houses, construction works, or floor area in a construction work that will be formed in the future shall be made in multiple installments, with the first payment not exceeding 30% of the contract value, including the deposit. The subsequent payments must be in accordance with the construction progress, but the total must not exceed 70% of the contract value before the house, construction work, or floor area is handed over to the buyer. In case the seller is a foreign-invested economic organization, the total payment must not exceed 50% of the contract value.
For the lease-purchase of houses, construction works, or floor area in a construction work that will be formed in the future, the payment shall be made in multiple installments, with the first payment not exceeding 30% of the contract value, including the deposit. The subsequent payments must be in accordance with the construction progress until the house, construction work, or floor area is handed over to the lease-purchaser, but the total prepayment must not exceed 50% of the lease-purchase contract value. The remaining amount shall be calculated as rent to be paid to the lessor within a certain period as agreed upon in the contract.
If the buyer or lease-purchaser has not been granted a certificate of land use right and ownership of assets attached to the land as prescribed by land law, the seller or lessor shall not collect more than 95% of the contract value. The remaining value of the contract shall be paid when the competent state agency grants a certificate of land use right and ownership of assets attached to the land according to the provisions of land law to the buyer or lease-purchaser.
In addition, houses and construction works that will be formed in the future must meet the conditions prescribed in Article 24 of the Real Estate Business Law No. 29/2023/QH15 before being put up for trading.
– 23:27 12/06/2025
