Many home buyers at Dat Xanh's Gem Riverside project disagree that after accompanying the project for 5-6 years, the investor has suddenly unilaterally terminated the contract.
The Gem Riverside project development area (circled in yellow) is still an empty lot - Photo: NGOC HIEN
After the article "Hundreds of customers of Gem Riverside project cancel contracts, what does Dat Xanh say?", Tuoi Tre Online received a series of feedbacks from readers who were customers who bought apartments at Gem Riverside project (Thu Duc City). Some customers said that they contributed capital to develop the project with the company. Now that the legal process is gradually completed, the company has changed its mind, and they bear the loss.
Customers say buying a house is now like... lending money
Reflecting to Tuoi Tre Online , reader L. said he paid to choose an apartment at the project in 2018, then signed a contract in principle in 2019 to ensure the right to buy a future apartment for the Gem Riverside project.
Since then, buyers have been waiting for Dat Xanh to complete legal procedures and meet the conditions to continue implementing the project. Until now, they have unexpectedly received a notice from Dat Xanh requesting customers to liquidate and receive 15% interest per year from the date of signing the principle contract.
Meanwhile, Mr. L. said that the customer "had absolutely no intention of lending Dat Xanh money for business purposes but really wanted to buy an apartment to live in."
Similarly, reader B. believes that if the contract is not in accordance with the law, the investor needs to negotiate a price adjustment with the customer.
According to MT readers, the company initially collected 50 million VND from customers to choose an apartment, then collected an additional 200 million VND and signed a contract in principle to ensure the signing of a contract to buy and sell future apartments 12 months later.
While the 2014 Law on Real Estate Business strictly stipulates many conditions for putting apartments into business, including completing the foundation and receiving a document from the Department of Construction notifying that the conditions for business are met.
In the principle contract, the investor also binds the conditions for signing the sales contract after meeting the conditions prescribed by law.
Therefore, Ms. T. believes that customers sign a contract in principle not for the purpose of lending money to businesses but to ensure the purchase of an apartment when all legal conditions are met.
"At the time of 2018 - 2019, we could have bought many other projects and settled down. Because we trusted the investor, now we only have one sentence to terminate the contract in principle and give an additional 5%", Ms. T. expressed.
Investors lose money when buying back apartment purchase rights
Dat Xanh unilaterally canceled the agreement with homebuyers at the Gem Riverside project and plans to develop the project from mid-range to high-end. In the photo: perspective of the Gem Riverside project located in the Nam Rach Chiec residential area in An Phu ward (Thu Duc city)
Among customers buying projects at Gem Riverside, besides those who want to buy a house to settle down, many customers consider this a profitable investment project.
In particular, customers who have signed a contract in principle with the investor will receive the principal (250 million VND) plus a support interest rate of 15%/year, equivalent to a total amount of about 450 - 500 million VND.
However, many investors who bought back the right to buy apartments through the principle contract suffered heavy losses. Some customers reported that they had spent hundreds of millions of dong in difference, the value of this buyback contract was up to 600 - 700 million dong, so the amount received back was lower than the amount the investor spent.
A customer said she paid money to buy back the right to buy an apartment from someone else. The total amount she paid two years ago was 700 million VND, while the seller paid the investor 250 million VND.
According to the 2019 principle contract, the expected selling price per square meter at this project is about 38 million VND. Now if the enterprise unilaterally terminates the contract, she will suffer a heavy loss because she will receive less than 500 million VND (the support level is 15% of the 250 million VND paid to the enterprise - PV).
If the project continues, the company offers a 15% discount on the new price while surrounding projects sell for 80 - 120 million VND/m², also putting buyers in a difficult position when they will have to pay a high amount.
"In essence, customers contribute capital to develop the project with the company. Now that the legal process is gradually being completed, the company changes its mind, so we are the ones who suffer in every way.
The value of money at different times, how much opportunity cost is missed, where is the customer in the vision of the business. I suggest negotiating to continue implementing the contract," she said.
What is Dat Xanh's basis for canceling the contract?
Speaking with Tuoi Tre Online , a representative of Dat Xanh said that the Gem Riverside project currently has a construction permit and is continuing to complete legal procedures to be eligible for sale.
In notices sent to customers, Dat Xanh said that this business always respects the law and puts business reputation first, so the business "will terminate all previous contracts that are currently not in accordance with current legal regulations".
Dat Xanh said that at the time of signing the previous principle contract, the investor and the customer "could not foresee the change in circumstances arising from many reasons leading to the delay in completing the legal project" according to the 2015 Civil Code.
Dat Xanh cited Article 420 of this Code which states: "The circumstances change so greatly that if the parties had known in advance, the contract would not have been concluded or would have been concluded with completely different content."
At the same time, Dat Xanh cited real estate-related laws that took effect from August 1 to say that "the project's products are not yet eligible for business under the 2023 Real Estate Business Law".
Therefore, Dat Xanh unilaterally announced that the principle contracts have expired and terminated from October 15, 2024, all rights and obligations of the parties have terminated, and at the same time provided customer support options.
However, besides the customers who agreed to terminate the contract according to the options proposed by Dat Xanh, many customers also said that Dat Xanh's unilateral termination of the contract in principle has no legal basis and the obligations of the parties need to be respected according to the original agreement.
Tuoi Tre Online will continue to inform.
Selling apartments must comply with the lawSource: https://tuoitre.vn/dat-xanh-don-phuong-cham-dut-hop-dong-nguoi-mua-nha-lo-bi-thiet-thoi-20241028135548223.htm
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