The investor has warned buyers of social housing against regulations early on.
Regarding the shortcomings in the business and sale of social housing (NOXH) and rental apartments at Sao Vang Tower project (Quynh Lam ward, Hoa Binh city, Hoa Binh province), recently, Lao Dong Newspaper had an interview with Mr. Do Ngoc Bien, Director of Sao Vang Real Estate Joint Stock Company (Sao Vang Real Estate JSC), representative of the investor (CDT).
Regarding the phenomenon of buying and selling and transferring social housing apartments in violation of regulations (before the 5-year deadline), the investor representative said that all apartments at Sao Vang Tower project were legally sold to the first buyers.
After the buyer owns the house, illegal sales arise from the customer. Before this information is published in the press, the investor already knew and propagated it to the people.
“The transfer brokerage, with my company, has been carried out in accordance with the provisions of the law. When transferring, the buyer will be confirmed by the relevant agency to meet the conditions according to the policy. As for the purchase and transfer (mentioned in the newspaper), it is by a third party, under the management of the State management agency, we, the investor, do not interfere.
With the investor, we only have the responsibility to advise. People have the right to own the house, so the inspection and supervision is only a part of the investor's role. After the newspaper's reflection, we also see that this is very inappropriate and there will be a solution in the near future," Mr. Bien expressed his opinion.
According to the investor representative, in order for the transfer and sale of social housing units at Sao Vang Tower project to take place in accordance with regulations, the role of local State management agencies is very important.
“The investor only gives recommendations, but it is difficult to control individuals (home buyers) who spontaneously transfer their homes. Whether or not home buyers transfer their homes to the right subjects according to regulations is under the management (responsibility) of the State management agency.
There is only one contract between the investor and the first buyer, but we cannot control the second and third buyers because their interests are separated from the investor. If the purchase and sale is not in accordance with the law, the buyer will be at risk,” said the investor representative.
Rent-to-own apartment sale is due to broker "inflating"
Regarding the content, 20% of the apartments for rent at Sao Vang Tower project (Hoa Binh) were "assigned debt" by the investor to the contractor for fire prevention and fighting works (PCCC) and construction materials, the representative of Sao Vang JSC said that this story is not true. Brokers are "exaggerating" to create an image with buyers.
“Regarding the 20% of apartments for rent-purchase, before being able to rent-purchase, the tenant must meet the conditions according to the prescribed criteria. In addition to the rental contract between the two parties (investor and customer), there is also a loan contract.
Because Sao Vang Real Estate JSC is a reputable company in the locality, there are a few individual investors who trust them, so lending money for production and business is normal.
This is just a civil agreement between two parties, a trust between some people and the company. Advertising the house for sale is the responsibility of the broker, the company does not control it. After Lao Dong newspaper published the article, we realized the shortcomings and will have a form of working with individual brokers," Mr. Bien informed.
