Pink book delay in a resale apartment purchase

Hey everyone! So I'm in the process of purchasing a property, still need to sign a sales and purchase contract. The issue is with the pink book. The seller says that the owner certificate is going to be ready in 6 up to 12 months. Why so long? Is it a normal practice in Vietnam?

It's kinda risky to wait for so long and get cheated in the end. Are there any lawyers among the forums members? Please help me to solve the issue... Thanks in advance
27.09.2018
8

27.09.2018
0
Hey ... Yes, it's a normal practice in Vn, so don't worry. It takes a decent amount of time to split the red book and prepare pink ones for every apartment. Usually, it takes exactly 6 months, for some developers even longer. Depends on their financial status. It's all good so no need to worry
27.09.2018
0
Isn't it included in your contract? Usually preparing pink books for new buildings can take even longer! And in most cases, the exact time is stated in the sales and purchase contract. Probably you better hire a translator, someone not connected with the seller, and ask him to translate the whole thing.

Also, make sure the contract includes a paragraph stating that the last 5% of the property price will be paid only after you have received the pink book.

When I was going through the sales and purchase procedure myself, I did hire a translator, but he also was working for the seller, so I didn't feel totally safe. The pink book was issued in 6 months or so, but I also was quite worried and anxious about the whole situation. Thank God now it's okay and I received the owner certificate. Learn from my mistake and better hire some independent professional. Hope this cleared things up))
01.10.2018
0
Hi, actually it's not the simple to get the permission to issue the Pink Book for Investor. Not everybody can get it. And under the Law, yes, about 6 months to Authority give the permission for the Project, but it can be 3 years and more.
If you buy the property you have to make clear this question first. Use the website of Construction Department, Investment and Planning Department and Environment Department of the Province and you can find out everything.
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