Foreigner buying apartment in Vietnam

see my pm

Vat and 2 percent phi bao tri is what always added to the price of the condo. U need to get your birth certificate and bring it to your local Quan  ( the district where you swere born.)office to get your copy of birth certificate provided by your Quan.

One of the most important documents is the Red Book. Without it the transaction is illegal and subject to forfeiture.

The buyer cannot sell to us as we are not Vietnamese and there's no way we can get the certificate of Vietnamese origin before May 15th. So basically our transaction is dead.
This said, I will try to get my cert. for the future projects.

Have you downed any payment?
If not then stop and wait for your Vietnamese papers and status to really settle before planning on purchasing any real estate.
Projects are mushrooming up everyday so dont worry about scarcity.
Hire real professionals.

Hi,

My first post here.
Want to buy an apartment in District 2.

Could you recommend 2 or 3 trusted Real Estate Agent?

Thanks.

Good_Man wrote:

One of the most important documents is the Red Book. Without it the transaction is illegal and subject to forfeiture.

This statement is not correct, certainly for any apartments I have bought,  paid for & re sold. I have been involved in the buying & re sale of 3 apartments here in HCMC, none of them had the Pink Book at the time of buying or selling. I also rented an apartment & am friends with the Vietnamese owner & that apartment block is 4 years old & still has no Pink Book. It can take years to get the Pink Book for an apartment & that apartment can have changed hands many times. What you need to find out is if the Pink Book 5% has been paid for up front by the first owner or if & when it is ready you have to pay the 5% to get the book.
At the moment I am selling the apartment I live in right now.....no Pink Book & not one of the agents I am using have any concerns about it.
When I bought this place for myself I used a Vietnamese Lawyer (at great cost 2k usd +) who specialized in property to make sure all was in order & all certification etc was translated to English. The lack of Pink Book was never a concern to him either.
Again as I have stated many times on this forum, as a foreigner looking to buy, my advice.........get a lawyer, its a mine field out there, full of half truths, promises & blatant lies.

Unlike Las Vegas, shills don't need to identify themselves here.
But no worry.
This is the absolutely best time to buy. BUY BUY BUY
I am a little surprised that expats seem to get all these bargains, while Vietnamese don't.
You must be smarter than the locals !

Now my wife tells me, she would not buy unless she was willing to live there forever or get relative to do so, in case she can't sell, but she's Vietnamese and doesn't have loads of USD that can be imported but never exported.