Legal checklist to buy or sell Masteri Thao Dien for foreigners

Legal Checklist for Foreigners Buying Property in Masteri Thao Dien apartments

Reference information for: Foreign Clients (Expats)

Hello everyone! If you're a foreigner considering owning a fantastic apartment at Masteri Thao Dien, congratulations! You've chosen a great location. Thao Dien isn't just a "rich neighborhood" with full amenities; it's also home to an extremely friendly and dynamic international community. But before you commit, let's "check" the important legal procedures to ensure everything goes smoothly. Don't worry, I'll "translate" everything in an easy-to-understand way, without any legal jargon!
  Why is Masteri Thao Dien so "hot" with foreigners?

Before diving into the checklist, I want to share a little about why Masteri Thao Dien is so popular with the foreign community. Personally, I think that in addition to its prime location and convenient transportation, this project has the following advantages:

"All-in-one" Amenities: From swimming pools, gyms, and children's play areas to supermarkets, restaurants, and cafes, everything is right at your doorstep.

Civilized Community: Living here, you'll easily connect with people who share your interests and lifestyle, and especially avoid feeling "lost" in a foreign country.

Reputable Developer: Masterise Homes is one of the leading real estate developers in Vietnam, ensuring quality construction and professional management services.

Investment Value: With high potential for price appreciation, Masteri Thao Dien is not only an ideal place to live but also an attractive investment channel.

Legal Checklist for Buying an Apartment in Masteri Thao Dien for Foreigners

Okay, now let's start "dissecting" the legal checklist. I've tried to simplify everything to make it as easy as possible for you to visualize:

1. Check the Legality of the Project and Apartment

Legal Documents of the Project: Don't hesitate to ask the developer to provide documents such as construction permits, land use right certificates, sales permits... to ensure the project is legally constructed and eligible for sale to foreigners.

Apartment Information: Verify that the apartment information (area, number of bedrooms, location, floor plan...) on the sale and purchase agreement matches the actual situation.

Planning: Find out if the apartment is located in any planning area (for example, clearance, road expansion...) to avoid future risks.

2. Conditions for Foreigners to Buy Houses in Vietnam

Eligible Buyers: According to current regulations, foreigners who are legally allowed to enter Vietnam (with a visa, work permit...) and are not entitled to diplomatic privileges or immunities are allowed to buy houses in Vietnam.

Number of Apartments Owned: Foreigners can only own a maximum of 30% of the total number of apartments in an apartment building or no more than 250 individual houses in an area with an equivalent number.

Ownership Term: Foreigners can own houses in Vietnam for a maximum of 50 years, from the date of issuance of the house ownership certificate. After this period, you can apply for an extension if needed.

3. Apartment Sale and Purchase Agreement

Contract Content: Read each clause in the contract carefully, especially the clauses on selling price, payment method, handover time, rights and obligations of the parties... If anything is unclear, ask the developer to explain it in detail.

Contract Appendices: Check if the contract has all the appendices such as the list of building materials, furniture (if any), apartment floor plan...

Contract Language: The sale and purchase agreement is usually written in Vietnamese. If you are not fluent in Vietnamese, ask the developer to provide an English translation or ask an experienced person to translate it for you.

4. Payment Procedures

Payment Method: Agree with the developer on the payment method (cash, bank transfer...) and clearly state it in the contract.

Payment Schedule: Strictly adhere to the payment schedule agreed upon in the contract to avoid penalties or delays.

Payment Documents: Keep all payment documents (receipts, bank statements...) carefully for reference when needed.

5. Procedures for Issuance of a House Ownership Certificate (Pink Book)

Documents to Prepare: After completing the payment and handover procedures, you need to prepare documents to apply for a pink book. The documents usually include:

1. Application for registration of certificate issuance

2. Copies of passport, visa, or work permit

3. Apartment sale and purchase agreement

4. Receipts of tax and fee payments

5. Other documents as required by state agencies

Submit Application: Submit the application at the Land Registration Office or competent authority.

Time for Issuance of Pink Book: The time for issuing the pink book can range from 30 to 60 working days, depending on the process of each locality.

6. Related Taxes and Fees

Value Added Tax (VAT): 10% of the apartment value (usually included in the selling price).

Personal Income Tax (PIT): 2% of the apartment value (if you sell the apartment in the future).

Registration Fee: 0.5% of the apartment value.

Other Fees: Notary fees, appraisal fees...

A few "small but mighty" notes:

Research the Developer Thoroughly: The reputation of the developer is one of the most important factors ensuring your rights. Research their track record, completed projects, and customer reviews.

Consult a Lawyer: If you have no experience in real estate or feel overwhelmed by the legal procedures, don't hesitate to seek advice from a lawyer. They will help you review the contract, assess risks, and protect your rights in the best possible way.

Check the Apartment's Condition Carefully: Before handover, check the apartment's condition carefully, from the electrical and water systems, furniture, to the smallest details. If you find any errors, ask the developer to fix them immediately.

Learn About the Amenities: Masteri Thao Dien has many amenities such as swimming pools, gyms, children's play areas... Learn about these amenities to enjoy life to the fullest.

Real Story: A Korean Customer Successfully "Closed the Deal" at Masteri Thao Dien

I remember in 2022, I assisted Mr. Kim, a Korean businessman, in buying a 2-bedroom apartment in Masteri Thao Dien. Mr. Kim was very meticulous and careful, he asked me to check all the legal documents of the project and the apartment. Only after everything was "ok" did he decide to commit. Currently, Mr. Kim is very happy with his life at Masteri Thao Dien, he regularly uses the project's amenities and participates in community activities. He said, "Living here, I feel like I'm at home!"

Customer review:

"I am very satisfied with the consulting service of 456 Vietnam. They helped me find an apartment that suits my needs and budget. In particular, they also supported me in completing the legal procedures quickly and professionally. Thank you very much 456 Vietnam!" - Mr. Lee Min Ho, Korean customer.

Advice from 456 Vietnam

At 456.com.vn, we understand that buying a home in Vietnam can be a challenge for foreigners. Therefore, we are always ready to provide a full-service support package, from consulting on apartment selection, legal support, to managing apartments for rent.

We offer:

List of real apartments - real prices - updated daily
Vietnamese & English consulting support
Real reviews - Fast consignment - Legal support for renting/buying and selling

Need more information or expert advice?

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