How to pay for housing purchase contracts formed in the future?

Article overview

Housing purchase contracts formed in the future clearly stipulate payment methods, helping to protect the interests of both buyers and sellers. Regulations on making payments in many stages have created flexibility and financial security for buyers; Ensuring transparency and reasonableness in the real estate transaction process. Next, let’s join Long Phan to learn about the content of payment for housing purchase contracts formed in the future.

How is a housing purchase contract formed in the future paid?
How is a housing purchase contract formed in the future paid?

Things to note when buying a house to be built in the future

When buying a house to be formed in the future, home buyers need to pay attention to the following issues:

First, housing conditions formed in the future are included in the business.

Future housing to be put into business must have one of the following documents:

  • Decision on land allocation;
  • Decision on land lease and contract on lease of land use rights according to the provisions of land law;
  • Decision allowing change of land use purpose;
  • Certificate of land use rights;
  • Certificate of housing ownership and residential land use rights;
  • Certificate of land use rights, ownership of houses and other assets attached to land;
  • Other certificates of land use rights and ownership of assets attached to land according to the provisions of land law.

At the same time, there are the following documents:

  • Housing construction permit, construction project and application dossier for construction permit;
  • Notice of commencement of construction of houses and construction works and design documents for construction of houses and construction works;
  • Documents on acceptance of completed construction of technical infrastructure according to the provisions of law on construction corresponding to project progress; In case of an apartment building or a mixed-use building with houses, there must be documents proving that the foundation construction has been accepted and completed.

In addition, the subject buying future housing needs to check whether the project is in dispute or not?

Second, choose a reputable investor with financial capacity to ensure the project is implemented on schedule.

Third, clearly understand the loan policy to buy from the bank.

Currently, housing purchase contract formed in the future often involve a third party, called an affiliated bank, lending money to carry out house buying and selling. Therefore, it is necessary to pay attention to the three-way relationship between the bank, the buyer and the seller to ensure benefits.

Fourth, review project implementation progress.

Fifth, sign the terms in the contract to buy a house formed in the future.

This is an important issue, the corridor purchase contract ensures the rights of both parties. Therefore, it is necessary to carefully review the terms.

Sixth, check carefully when receiving and handing over

What should you keep in mind when buying a house to be built in the future?
What should you keep in mind when buying a house to be built in the future?

Is a contract to buy a house formed in the future required to be notarized?

Pursuant to Clause 4, Article 44 of the Law on Real Estate Business 2023, a contract to purchase a house to be formed in the future, if at least one party is a real estate business, must be notarized at the request of the parties.

In addition, according to Clause 1, Article 164 of the Law on Housing 2023, housing purchase and sale contracts including future housing must be notarized.

Thus, a contract to buy a house to be formed in the future may or may not be required to be notarized, depending on whether one of the parties in the contract is a real estate business or not.

Payment of housing purchase contract formed in the future

Pursuant to Article 25 of the Law on Real Estate Business 2023, there are regulations on payment of housing purchase contract to be formed in the future as follows: Payment in the purchase and sale of houses to be formed in the future is made many times. The initial amount must not exceed 30% of the contract value including the deposit. Subsequent installments must be consistent with the construction progress but the total amount must not exceed 70% of the contract value when the house has not yet been handed over to the buyer;

In case the seller is an economic organization with foreign investment capital as prescribed in Clause 4, Article 10 of the Law on Real Estate Business 2023, the total amount must not exceed 50% of the contract value.

Regulations on payment of housing purchase contract in the future
Regulations on payment of housing purchase contract in the future

Consulting services and support for making contracts to buy houses to be formed in the future

At Long Phan, we provide consulting services and support in preparing future housing purchase contracts, to ensure you conduct transactions safely and effectively.

We provide the following services:

  • Consulting on conditions for future housing to be put into business
  • Consulting on required documents to prove the legality of housing formed in the future
  • Provide a standard sample contract for buying and selling houses to be formed in the future
  • Consulting on indispensable terms in the contract
  • Instructions for drafting contracts to ensure maximum benefits
  • Review, amend, supplement and complete future housing purchase and sale contracts
  • Providing contract drafting services with full content
  • Consulting and guidance on how to negotiate and conclude future housing purchase and sale contracts
  • Participate with customers in negotiating contracts
  • Consulting on other related issues: deposit, mortgage, contract implementation, dispute resolution,…

Housing purchase contracts formed in the future are taking place quite actively in the current real estate market. However, besides the advantages, when buying a house to be formed in the future, there are also risks. Long Phan will support customers to overcome risks to build a safe contract, ensuring maximum benefits. If you have any needs, please contact the hotline: 0906735386 to receive dedicated support.