From the "hot spot" of Floor 584

Loan contracts are transactions used by investors to “circumvent the law” when real estate projects have not yet completed all investment items as prescribed and have been put into operation or raised capital. However, this type of contract is quite common in the market today. Partly because buyers are greedy for profit, partly because they do not have a firm grasp of the law, and listen to the “winged” promises of investors, leading to “bitter fruit” when businesses “break their promises”.

MB 584, Quang Thanh ward ( Thanh Hoa city) is being constructed simultaneously, many conflicts and disagreements occur between customers and investors.

From the end of 2023 to present, at the Dong Phat Urban Southeast Residential Area Project (also known as MB 584), Quang Thanh Ward (Thanh Hoa City), invested by BNB Company Limited, hundreds of land lots are being vigorously constructed by households. However, there are many conflicts and disagreements between customers and the investor of this project that are difficult to resolve. From here, many "irregularities" of the investor are "exposed".

1 plot of land "sold" to many people?

The Dong Phat Urban Southeast Residential Area Project was recognized by the Provincial People's Committee as the winning result of the land use rights auction in Decision No. 1055/QD-UBND, dated March 26, 2020. Accordingly, the project has a total area of over 35,400m2, equivalent to 257 land lots, including 211 townhouses and 46 villas.

Immediately after winning the auction, the investor had not yet fully built the infrastructure according to regulations but had already mobilized capital from customers in the form of a loan contract, and the "registration" of the landowner's name was legalized by a registration of wishes, clearly stating the number of land lots that customers wanted to "buy". In the registration of wishes, the investor also clearly confirmed the right to sign a sales contract with customers when the project met the conditions for signing a sales contract according to the provisions of law. However, since the beginning of 2023, when BNB Company Limited started allowing customers to register their wishes to receive land and build rough houses according to the design, many households were surprised when their land lots were "sold" to many people at the same time.

For example, the case of Mr. Le Ngoc H., in Thanh Hoa City. In October 2021, Mr. H. wanted to buy a product at MB 584, so he transacted with BNB Company Limited through the form of signing a loan contract, along with a registration of his wish to "buy" the land lot LK141. Mr. H. paid the full amount of 1 billion 260 million VND in 3 installments, and was given a land handover record and design documents by the investor. From then until the end of 2023, Mr. H. did not receive any documents, calls or information from the investor about organizing construction and collecting money for rough construction according to schedule, or invitations to work and resolve issues related to the confirmed registration of wishes. In March 2024, Mr. H. was shocked to receive a notice from the investor about the termination of his registration request for the LK141 plot of land. Running down to the plot location to check, Mr. H. saw that someone was building a house right on his plot of land and had paid money and registered.

In the petition sent to the press, Mr. H. added: After working with the investor's representative, Mr. Nguyen Huy Hoang, the chief accountant and assigned by the company to handle the matter, Mr. Hoang agreed to resolve the matter for Mr. H. by the company buying back the land lot LK141 for 1 billion 600 million VND and paying in 4 installments. The first installment on April 16 was 300 million VND, the second installment on April 29 was 200 million VND, the third installment was 500 million VND, and the fourth installment was 600 million VND. However, up to now, after many times working directly and calling, BNB Company Limited has only paid Mr. H. 300 million VND on April 16.

According to the reporter’s investigation, the reason why lot LK141 was assigned to another customer for construction was because the land of this customer (LK239) was “sold” by the investor to another customer. And, to resolve the “complaint” of the customer in lot LK239, the investor “compensated” the customer in lot LK141.

According to the feedback from many customers to Thanh Hoa Newspaper, the situation of 1 land lot being sold to many people at MB 584 is continuing to be complicated. Not only "sold" to 2 customers, there are land lots even overlapping with 3 or 4 customers. Many customers, when suspicious or discovering the overlap, call or make an appointment, requesting to work with the investor, but BNB Company Limited has not yet sent a person with enough authority to answer and avoid handling the matter.

Disagreement of interests, persistent conflict

Not as "tragic" as customers who were given overlapping land, but many customers who paid for construction according to schedule, or received land to register for self-construction are also in a "half-crying, half-laughing" situation.

According to the application form signed by BNB Company Limited on the same day as the loan contract, the illegal "sale" product is a raw house built according to a design approved by a competent State agency. Therefore, from the beginning of 2023, BNB Company Limited began sending notices on the progress of the raw construction and exterior finishing of the project. Accordingly, the investor will start the synchronous construction of the site from March 1, 2023 and require households to pay according to the progress. Some customers, right from the beginning, strictly "comply". However, according to people's feedback, the investor did not fulfill the commitment on the progress according to the raw construction contract, as well as the construction quality of the project was not guaranteed.

In the case of Mr. NTV (character's name has been changed), in Thanh Hoa City, he had an urgent need for housing, so he was one of the first customers to "comply" with the payment for the house's rough construction as requested by the investor. And, the investor also started construction of the house for him since March 2023. However, until now, he has not received a house to live in. Mr. V. said that even the construction contractor... cried, because the investor did not pay them the construction costs according to the rough construction contract, leading to both the progress and quality of his house being affected. "After many requests and petitions, the investor has now coordinated with the contractor to find a solution to reinforce the main column system, to fix it for my family" - Mr. V. was frustrated.

From the loss of reputation for progress and quality when implementing construction projects in the early stages, to the fact that the investor offered a rough construction price that customers considered "sky-high" compared to the market price, many customers did not agree to pay the investor for construction but organized the construction themselves.

What is worth mentioning here is that when customers organize the construction of their own houses, they are "forced" by the investor to "falsely pay" many unreasonable amounts of money. These amounts are not deposited into the investor's account but transferred to the accounts of different individuals, without knowing what authority or position they have in BNB Company Limited, and there is no authorized person to sign and stamp?

Accordingly, for each plot of land that customers build themselves, BNB Company Limited requires customers to pay from 300 to 350 million VND. Many customers said that the investor explained that these were amounts related to design costs, management costs, construction piles according to planning... LTC customer, in Tho Xuan district, was upset: "The more than 350 million VND that the investor required customers to pay was "explained" to include: 50 million VND for the cost... to drive piles, 50 million VND for the cost of procedures for granting land use right certificates, about 80 million VND for management costs, nearly 170 million VND for the cost of ensuring that the contractor builds according to the design".

“The investor said that they would return the deposit for the construction contractor’s guarantee if there were no design violations, but there was no clear written commitment on the refund period. We have lost confidence in this investor and in fact, many customers have finished building their houses and are living stably but have not yet received this money back,” Mr. C. added.

In their feedback to Thanh Hoa Newspaper, many customers were upset that during the construction process, the investor did not cooperate with customers to resolve problems and listen to discussions and suggestions, but also continuously changed policies in a very short time. Sometimes they forced the investor to organize the construction; sometimes they forced people to build themselves. The collection policies were also different, depending on the subject, the relationship and... the "attitude" of the customer.

Mr. Tr.D.T, in Thanh Hoa City, said: “I have 2 adjacent plots of land at MB 584. Looking at the “lessons” of customers who paid money to the company to build unfinished houses, I really do not dare to pay more money to this company. However, if I do not proceed with the construction, what if the investor “secretly” liquidates the loan contract and the registration of wishes, I will suffer even more. To get the investor to hand over the land for construction, I also have to pay a “false” 200 million VND. Not only that, every few days, someone claiming to be an employee of the company sends a message asking to transfer additional “unnamed” amounts of money, I am really upset. What we are worried about is that paying 300 - 350 million VND to build a house on this site is very easy for the investor to go back on his word and asking for this money back, I am afraid, is quite unrealistic!".

Many customers also reported to reporters that after many times of "breaking trust" with customers, BNB Company Limited continuously changed representatives at Thanh Hoa Branch. Calling was not possible, texting was not possible, going to meet them was avoided, sending people without authority to work... Therefore, hundreds of customers who spent billions of dong on this premises, bought back enough anxiety, worry, confusion, and deadlock!

Reporter Group

Lesson 2: Cooperation or "trap" in capital mobilization.

Source: https://baothanhhoa.vn/giao-dich-bat-dong-san-bang-hop-dong-vay-von-nguoi-mua-om-han-bai-1-tu-diem-nong-mat-bang-584-217352.htm