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Discussing Real Estate Business Law with many new points

The current draft revised Law on Real Estate Business (Real Estate) is considered to have new points that contribute to market transparency, strict management of brokerage activities and trading floors to protect the rights of users. buy house. However, the draft law still has regulations that have not yet been agreed upon, awaiting comments at the meeting.

New points of the draft law

The newest point in this draft is the regulation that real estate businesses must fully, truthfully and accurately disclose information about real estate put into business on the housing and real estate market information system. At the same time, publicize it on the website of the real estate business (if any).

This regulation helps make project information transparent to protect the interests of buyers. However, it is necessary to clearly stipulate public channels so that buyers can easily find information. For example, information about the project should be posted on the websites of the Ministry of Construction, Departments of Construction...

The second new point in the draft is the regulation of types of contracts in real estate transactions. Including contracts for sale, lease purchase, and rental of construction works with functions serving tourism and accommodation purposes. These regulations will remove legal obstacles for tourism real estate, non-residential construction works with accommodation functions such as officetel, shophouse, farmstay...

Besides, the scope of regulation of the new law ensures compliance with the actual situation and is highly feasible. It specifically stipulates that organizations and individuals doing real estate business must register their business and cases where organizations, households, and individuals buy, sell, lease, or lease purchase real estate but are not doing business. Real estate.

The draft also expands the permission for investors to lease or lease-purchase real estate to be formed in the future instead of only being able to lease or lease-purchase existing real estate as currently prescribed.

Tighten responsibilities to protect home buyers

The draft law also received the approval of people and businesses when proposing additional regulations on deposits in real estate businesses formed in the future. Strict regulations on deposits will help protect the interests of buyers, avoiding the situation where investors collect deposits to appropriate capital or draw up fraudulent projects to appropriate property.

The draft law provides two options for deposits. Option 1, the project investor is only allowed to collect the deposit as agreed with the customer when the project has a basic design appraised by a state agency and the investor has one of the documents on use rights. land. The deposit agreement must clearly state the selling price or lease purchase price of the house or construction project and the deposit amount must not exceed 10% of the sale or lease purchase price of the product. Option 2, the investor is only allowed to collect deposits from customers when the house or construction project is qualified to be put into business and carry out transactions in accordance with the provisions of this law.

Dr. Huynh Phuoc Nghia, Director of the Center for Economics, Law and Management at the University of Economics Ho Chi Minh City (UEH), said that option 1 creates conditions for investors to sell to buyers sooner and calculate accounting. better business plan. Dr. Nghia commented that it is necessary to specifically stipulate the legal corridor, ensure that investors follow the correct procedures, and build projects that ensure the rights of the buyer.

Bank guarantee regulations for real estate projects are also commented by many experts to be stricter. Opinions say that the guarantee regulations for selling and leasing houses formed in the future may increase the selling price of apartments, affecting buyers. Second, bank guarantee regulations have not yet achieved their purpose of protecting the legal and legitimate rights and interests of home buyers.

Therefore, in the draft law, Mr. Nguyen Duy Thanh, General Director of Global Home Management Joint Stock Company (Global Home), commented on the need to regulate the responsibilities of credit institutions. Because under current law, even though there are guarantee regulations, if the project is behind schedule, not handed over... the guarantee bank is not responsible.

“Therefore, the draft law needs to clearly stipulate the responsibilities of commercial banks to supervise investors to use credit loans for the right purpose. At the same time, defining the responsibilities of management agencies, relevant departments and branches will only be effective" - Mr. Thanh recommended.•

Source: plo.vn