Real estate deposit not exceeding 10% of selling price, rental purchase of housing

Người Đưa TinNgười Đưa Tin29/08/2023


Reporting on a number of major issues with different opinions on the draft Law on Real Estate Business (amended), Chairman of the Economic Committee Vu Hong Thanh said that at the 5th Session of the 15th National Assembly, the National Assembly discussed and gave opinions on the draft Law on Real Estate Business (amended).

The draft Law after being accepted and revised consists of 10 chapters and 84 articles (9 articles removed, 1 article added compared to the draft Law submitted to the National Assembly at the 5th Session).

Regarding the scope of regulation of the draft Law, taking into account the opinions of National Assembly Deputies, the draft Law has been reviewed in terms of scope of regulation with the draft Land Law (amended), the draft Housing Law (amended) and related laws, ensuring no overlap or conflict in scope of regulation, ensuring the consistency and synchronization of the legal system.

At the same time, the draft Law is revised in the direction: Organizations and individuals when doing real estate business must establish an enterprise according to the provisions of the law on enterprises or a cooperative according to the provisions of the law on cooperatives, with real estate business lines and professions.

Real Estate - Real estate deposit not exceeding 10% of selling price, rental purchase of housing

Chairman of the Economic Committee Vu Hong Thanh.

Regarding guarantees in the sale and lease-purchase of future housing, the Standing Committee of the Economic Committee believes that guarantees in the sale and lease-purchase of future housing are necessary. However, in reality, there are cases where customers accept higher risks in exchange for other benefits.

Therefore, taking into account the opinions of National Assembly deputies, the draft Law was amended to supplement Clause 3, Article 26, accordingly, when signing a contract to buy or hire-purchase a future house, the customer can choose whether or not to have a credit institution guarantee the financial obligations of the investor to them.

Regarding the construction and management of information systems and data on housing and the real estate market, Mr. Thanh said that, taking into account the opinions of National Assembly deputies, the revised draft Law clearly stipulates "ensuring connection and sharing of data with the national database on land, databases of relevant ministries, branches and localities to update, share and exploit information on housing and the real estate market, in order to build a national database system to create a foundation for the development of e-Government".

Regarding issues of consultation on conditions for organizations and individuals when doing real estate business, taking into account the opinions of National Assembly Deputies, the draft Law is revised in the direction: Transactions that are not real estate business activities are regulated in Clause 2, Article 1 on cases where the Law on Real Estate Business is not applicable.

However, in the case of organizations and individuals selling, leasing, leasing-purchasing houses and construction works under their legal ownership, transferring, leasing or subleasing the land use rights under their legal use rights, there are 2 options.

The Standing Committee of the Economic Committee agrees with option 1: "It is proposed not to apply the Law on Real Estate Business to cases where organizations and individuals carry out the above activities not for business purposes and as stipulated in Point d, Clause 2, Article 1 of the draft Law. In cases where organizations and individuals carry out the above activities for business purposes, they must establish a real estate business enterprise as stipulated in Clause 1, Article 9 of the draft Law."

Real estate - Real estate deposit must not exceed 10% of the selling price or rental price of a house (Figure 2).

Delegates attending the conference on the morning of August 29.

Regarding deposits in housing business and future construction projects, Chairman of the Economic Committee Vu Hong Thanh said that some opinions agreed on the necessity of deposit regulations in the draft Law.

Some opinions suggested adding a deposit regulation to ensure the contract is signed before the time when the house or construction project is qualified to be put into business. There were opinions agreeing to only accept deposits when "the house or construction project is qualified to be put into business".

Regarding this content, the Standing Committee of the Economic Committee agrees with the plan "Regulations that real estate project investors are only allowed to collect deposits according to agreements with customers when the project has a basic design appraised by a state agency and the investor has one of the documents on land use rights. The deposit agreement must clearly state the selling price, lease-purchase price of the house, construction work and the deposit amount must not exceed 10% of the selling price, lease-purchase price of the house, construction work".

The Standing Committee of the Economic Committee also asked for opinions from National Assembly deputies at the Conference on conditions for transferring real estate projects; on notarization and authentication of real estate business contracts; and on real estate transactions through real estate trading floors.

In addition to the above issues, the Standing Committee of the Economic Committee also coordinated with the drafting agency and relevant agencies to study and absorb the opinions of National Assembly deputies at the 5th Session on many specific contents; revised the entire draft Law and prepared a draft report on reception, explanation and revision of the draft Law.

Based on the opinions of the National Assembly Standing Committee and National Assembly deputies, the Standing Committee of the Economic Committee will continue to closely coordinate with the drafting agency and relevant agencies to research and complete the draft Law in preparation for submission to the National Assembly for consideration and approval at the 6th Session .



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