1. Carefully learn about the legality of land
One of the most important factors when buying land is to carefully check the legality of the land. If you are not careful, you can fall into a situation of buying land that does not meet legal requirements or being scammed.
- Check the red book: Land needs to have a legal land use right certificate (red book). Request the seller to provide a red book and compare information with the land registration agency.
- Learn about planning: Land may be under State planning. You need to check the planning information at the local People's Committee or on the electronic information portal of the management agency.
- Avoid buying land in dispute: If the land is in dispute or the ownership rights have not been clearly defined, you should stay away from it.
2. Valuate land before buying
To avoid being overcharged, you need to learn about market prices and factors affecting the value of the land.
- Compare land prices in surrounding areas: Survey land prices in neighboring areas to have an overview of the real value of the land.
- Consider location and surrounding amenities: Land near the center, near residential areas, with good transportation systems and amenities such as schools, hospitals, supermarkets often have higher prices.
- Consult an expert: If you do not have experience, you should ask for support from a reputable real estate broker or a valuation expert to make the right decision.
3. Choose a reputable investor and seller
If you buy land from projects, you need to learn carefully about the investor:
- Check the investor's history: Prestigious real estate companies that have successfully implemented many projects are safer options.
- Read the sale and purchase contract carefully: The contract must be clear about the rights and responsibilities of the parties, especially the progress of land handover, payment conditions and related commitments.
- Avoid buying land with a handwritten document: Buying and selling without clear documents can lead to the risk of disputes and loss of rights.
4. Notes on infrastructure and development potential
In addition to legality and price, infrastructure factors and development potential also determine the value of land:
- Traffic infrastructure: Areas with good roads and convenient connections will have higher value.
- Future development projects: If the area has large projects about to be implemented such as industrial parks, commercial centers, and highways, the possibility of increasing land prices will be higher.
- Population and security situation: Areas with stable residents and good security will have greater appeal than deserted areas.
5. Price negotiation and reasonable payment methods
To get the best price when buying land, you should apply the following negotiation skills:
- Do not rush to decide: Take time to research carefully, compare many options before buying.
- Providing a reasonable price: Based on market survey information, you can negotiate to get the best price.
- Divide the payments into small installments: If possible, agree on payment in stages to minimize risks.
6. Be careful with scams
The real estate market has many scams, you need to be wary of the following cases:
- Unusually cheap: If a piece of land is much cheaper than the market price, be careful as it may have potential legal or dispute risks.
- Unknown landowner: Make sure you are transacting with a legal owner.
- Improper contract: Always read the contract carefully and ask a lawyer for advice before signing to avoid risks.
