Wanting to settle down in the city permanently but with limited finances, Mr. Pham Van Dung - owner of a car repair shop in Binh Thuy district (Can Tho city) - after researching decided to buy a house without a red book to get a cheap price.
It is known that the house where Mr. Dung's family is living is located deep in an alley on Nguyen Van Linh Street (Binh Thuy District). He bought it for 1.1 billion VND, 40 square meters, with handwritten documents.
Mr. Dung said: "I also researched and determined that there were no disputes or violations before buying. If there is a red book, the price is 2.3 billion VND, and if the name is transferred by hand, it is cheaper than the market price. It is expected that by the end of this year, the old owner and I will complete the procedures to transfer the name and make a red book."
According to this man, with the current increase in land prices, owning an apartment in the city is not easy. However, choosing a house without a red book also requires careful research and consideration to avoid risks.
With an area of 70 square meters, the amount of 1.3 billion VND is 1/3 lower than the original price on the market, however, Mr. Pham Chi Nguyen (Cai Rang district, Can Tho city) still considers carefully because he is afraid of the risk of only transacting with handwritten documents.
"The homeowner agreed to reduce the payment by 100 million VND if we paid in full at once, or deposit 500 million VND first and continue to pay in installments until we have enough, but I'm afraid of the risk so I'm still looking into it carefully," said Mr. Nguyen.
Talking about buying a house without a red book, Mr. Tran Minh Hau - a real estate brokerage office owner in Ninh Kieu district (Can Tho city) - said: For this type of land, customers should find out clearly the information, origin of the land, and make a record to avoid unnecessary risks and disputes later.
"Usually these apartments and plots of land will be cheap, even half the market price. After the 2024 Land Law was passed, some customers also came to me to help buy houses and land without red books or disputes so that if the red book is successfully obtained and resold, the price will be more expensive" - Mr. Hau said.
The 2024 Land Law passed by the National Assembly allows the issuance of red books for cases of land use before July 1, 2014, now confirmed by the People's Committee at the commune level as having no disputes, then the land use rights will be recognized.
This regulation is actually being applied, only extending the time limit from before July 1, 2004 to before July 1, 2014, which is an additional 10 years compared to the 2013 Land Law. However, Article 138 is to handle the issuance of certificates for cases that do not violate land laws, do not allocate land beyond authority, and do not have wrongful acts such as land encroachment.
