According to Minister of Construction Nguyen Thanh Nghi, the regulation on transactions through real estate floors in the draft Law on Real Estate Business (amended) does not unreasonably increase costs for investors or increase selling prices, and can even save on selling costs.
Transactions through the exchange ensure openness and transparency, helping to prevent fraud.
Afternoon of June 23, speaking to explain and clarify some contents of the delegates National Assembly related Regarding the draft Law on Real Estate Business (amended), Minister of Construction Nguyen Thanh Nghi thanked the delegates for contributing many responsible opinions with high practical value to complete the draft.
The Minister stated that the opinions of National Assembly deputies will be synthesized and fully absorbed to ensure that the draft law is of good quality and receives high consensus.
Regarding the regulation on real estate transactions formed in the future conducted through real estate trading floors as in the draft law, the Minister said that this regulation is based on Resolution No. 18 of the 13th Party Central Committee, resolutions and documents of the Party Congress.
At the same time, this regulation also ensures consistency with the legal system, perfects the mechanism for preventing and combating money laundering and terrorist financing in Vietnam, strengthens control, publicity, transparency, and protects people's rights in real estate transactions without affecting people's freedom of activities and methods of real estate transactions.
The Minister stated that the State has tools to manage information about the real estate market, thereby issuing policies to regulate the market in a timely manner so that it can develop healthily and stably. Regulations on trading through the floor do not increase unreasonable costs for investors or increase selling prices.
According to Minister Nguyen Thanh Nghi, currently, the investor's sales management costs are usually determined at around 8 to 10% of the selling price, including personnel costs, advertising, communications, and commissions for sellers.
This cost is also the cost that the investor has calculated into the selling price. Therefore, the investor can spend the cost of using his own apparatus and resources to organize sales management or establish a floor or hire a real estate floor to do it.
The Minister of Construction said that this could also help save sales costs for investors, because real estate floors are professional sales units, have available customer data, available links with floors and available marketing and advertising channels, so efficiency can be higher.
Besides, through practical research in many countries, real estate transactions are also carried out through real estate trading floors and brokerage agents.
Minister Nguyen Thanh Nghi analyzed, the real estate transaction Future projects have many characteristics such as unformed assets, complex legal aspects of real estate projects, and conditions for putting them into business must be controlled according to the actual implementation of the project.
Therefore, transactions through the floor will ensure publicity and transparency, help prevent fraudulent acts in real estate transactions to make transparent the activities of all market participants, and avoid risks for people.
However, the Minister also said that the drafting agency will report to the Government to continue to carefully study and absorb comments on this content to ensure the completion of regulations on real estate trading floors to be appropriate, strict, clear in responsibilities, and ensure the rights of people and businesses.
At the same time, it will review and complete the confirmation of transactions through real estate trading floors, the responsibilities of real estate trading floors, and the obligations of real estate trading floors. In addition, there will be regulations assigning the Government to specify this content in detail.
Real estate brokers are responsible in case of providing incorrect information.
Regarding the content of real estate brokerage, the Minister of Construction said that the drafting agency will absorb and continue to research, review, supplement, and perfect the draft law in the direction of separating the provisions on the rights, obligations, and operating conditions of real estate brokerage organizations and real estate brokerage individuals.
Accordingly, real estate brokers are only responsible in cases where they provide incorrect or insufficient information compared to the information on the records provided by the real estate trading floor or brokerage organization.
Regarding the deposit regulations in the business of housing and construction works formed in the future, the Minister stated that the draft law stipulates that investors are only allowed to receive deposits when meeting the conditions that the housing and construction works have met the conditions for being put into business and have been transacted in accordance with the provisions of law because housing and construction works are assets of great value. When becoming the subject of real estate business transactions, they must meet the conditions for being put into transactions and mobilizing capital, thereby protecting the legitimate and legal rights and interests of customers when buying housing formed in the future with real estate project investors.
However, taking into account this opinion, the drafting agency will continue to research, review and complete the draft law to appropriately regulate the time, conditions, forms and deposit amounts that real estate project investors can receive from customers, ensuring consistency with the Civil Code and suitability with reality.
Regarding the transfer of real estate projects, there are opinions suggesting amending the provisions in Clause 4, Article 41 of the draft law in the direction of allowing the parties to agree on the completion of financial obligations regarding land and must record it in the transfer contract.
Regarding this opinion, Minister of Construction said that during the process of drafting, the drafting agency also proposed two options, including the option as suggested by the National Assembly delegate.
At the same time, the drafting committee also assessed and analyzed the advantages and disadvantages of the plan to seek the Government's opinion. The provisions in the draft law are the plan chosen by the Government.
According to Minister Nguyen Thanh Nghi, Resolution 42/2017 of the National Assembly is a pilot resolution specifically for special cases to handle bad debts of credit institutions in a specific period. Therefore, the conditions for project transfer under normal conditions will be different.
The regulations on project transfer conditions as in the draft law aim to enhance the capacity, responsibility, professionalism, and focus the resources of investors in project implementation without encouraging the granting of projects without focusing on implementation to transfer the projects.
The Minister stated that the drafting agency will also report to the Government to continue to study this content more carefully for suitability.
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