
Warning about the risks of real estate deposit loans using 'Agreement Documents'.
The State Bank of Vietnam believes that lending to pay down deposits for real estate purchases based on "Agreements" carries a number of legal risks.

The State Bank of Vietnam believes that lending to pay down deposits for real estate purchases based on "Agreements" carries a number of legal risks.

A deposit for the purchase of real estate is one of the common agreements signed before the final purchase and sale contract is drawn up at a notary office.

Having received tens of billions of dong in deposits for land purchases but squandering it all on stocks and cryptocurrencies, and no longer able to repay the money, Son was arrested by the Da Nang police.

To avoid financial and legal risks, customers should pay attention to the following points when making a deposit to buy real estate.

Currently, in the real estate market, many project developers raise capital from customers in the form of deposits, which is a rather risky method for homebuyers.