Buying a house at a shocking price, selling the house due to... bankruptcy: Be careful of the traps that surround you

The housing market is usually most active at the end of the year, because many people tend to look for houses with the mentality of "buying land at the beginning of the year, buying a house at the end of the year".

With plans to buy a house at the end of the year to stabilize housing for the whole family and celebrate Tet, Ms. Nguyen Thu Hien in Hanoi said that she is urgently looking for a new house that she can move into this month. The apartment her family is renting also expires at the beginning of January.

"With a financial resource of about more than 3 billion VND arranged at the end of the year, my husband and I are trying to quickly "close" the house to welcome Tet," Ms. Hien shared.

Like Ms. Hien, home buyers at the end of the year often have the mentality of "buying quickly" or "buying in a hurry". This mentality can cause buyers to suffer financial losses and legal risks.

Mua nhà giá sốc, nhà bán do... vỡ nợ: Thận trọng những cạm bẫy bủa vây - 1 — Many people who buy a house at the end of the year often have the mentality of buying quickly (Illustration: Ha Phong).

According to Mr. Do Ngoc Thang - Regional Sales Director of a real estate company - the risks when buying a house are not only at the end of the year. The eternal problem of customers buying real estate is the first thing is legality, the second is valuation, and the third is the advice of the broker.

Legally, customers may encounter risks when transacting houses without a certificate, buying and selling with handwritten documents or notarized documents, sharing the certificate, the certificate is in a black credit place, or the homeowner is depositing for 2-3 people... The most common risk is that the homeowner holds the red book to borrow from a financial institution - all must write a sale paper or write a deposit contract.

"If the broker does not check carefully for the customer, it will be very risky for the buyer and bring unpredictable consequences because most of the real estate values are worth billions of dong," said Mr. Thang.

The second is about price. According to Mr. Thang, at the end of the year there will be a lot of information about selling: "Bankruptcy, need to sell house, urgent sale, shocking price at the end of the year..." It is very likely that this information is about greed for profit.

"If brokers advise you that the price is cheaper than the market price, I definitely advise you to question it and be wary of things that are unexpectedly cheap," Mr. Thang emphasized.

According to Mr. Thang, for brokers, the initial "fishing" story about bargain-priced, shockingly discounted properties... but in fact it is not true, it is a trick to attract the attention of buyers and then lead them to other properties - is no longer a new story, even has become a practice in many markets. Or brokers taking advantage of the buyer's "quick closing" mentality to raise prices and "eat" the difference is also not uncommon.

With decades of experience in the real estate brokerage field, Mr. Thang believes that residential real estate transactions are still taking place every day, the most important thing for buyers when entering the market is to research carefully to identify the risks they may encounter.

Regarding the legality of real estate, Mr. Thang's experience shows that buyers need to carefully check the red book and the information on the book must be accurate before making a deposit. And of course, they should transact through a reputable brokerage firm, because they are the ones with the best expertise to ensure the legality of that real estate.

Regarding the price issue, Mr. Thang analyzed, today, if we go to see apartment A, apartment B, apartment C with such floor plan, such location, such alley,... then the buyer can estimate for himself the average price in this area from about how much?

In addition, Mr. Thang emphasized that the professionalism of the broker is extremely important. Besides the legality and price, as I mentioned above, the broker always appears in the whole process of the customer, from searching, visiting the house to carrying out the purchase and sale procedures.

According to this expert, right from the first meeting, through a few questions, you can check whether they are professional, dedicated, and understand the area or not.... Therefore, meeting a professional broker can help customers minimize all risks.

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