Compass Real Estate > Cambodia Investment Guides > Eight Notices in Contracts for housing buyer.

Eight Notices in Contracts for housing buyer.

1703
2019-08-23
Summary:​Many people think that a sales contract can solve all the problems of buying a house, but after buying a house, there are traps everywhere.

Many people think that a sales contract can solve all the problems of buying a house, but after buying a house, there are traps everywhere.
When signing the purchase agreement and supplementary agreement, we must pay attention to the following issues.
1. Clear liability for breach of contract, the more detailed the clause, the better
Liability for breach of contract will bind buyers and sellers, including: after signing the contract, the buyer requests to  and fail to pay on time; after the developer sells the house, buyer requests to change the house, developer fails to deliver the house on time; when developer fails to meet the standard of delivery, developer forces the house to be delivered; when the developer sells the house, developer mortgages the house already; when he goes through the formalities of transfer, he does not comply with the regulations and agreements, etc.
Relatively speaking, the situation and possibility of default is relatively rare, basically delaying the payment of the house, but there are many cases of default of developers, from delayed delivery to quality problems, change of planning to block the certification, and so on, the possibility of default is relatively large. Clear breach of contract liability in advance can protect the interests of both parties more effectively. It is suggested that the terms of breach of contract and the corresponding penalties for breach of contract should be clearly written in order to clear the liability for breach of contract.
2. Additional clauses should be included in the content of the advertisement
It is easy to be fooled by advertising. If the advertisement or building introdution clearly states the situation of greening, waterscape, clubhouse or municipal planning to be implemented, it is necessary to write the advertisement content into Supplementary Clauses so as to make it a real commitment for developers to assume responsibility, and agree that if it can not be achieved at that time, the contract can be cancelled, and the developers are required to assume certain responsibilities. Liability for breach of contract and clear amount of breach of contract.
3. Clear payment method and time
Foreigners buy housing in mortgagement are relatively difficult to handle, so they are basically full or instalment payments. Installment payment must agree on a good payment time, and linked with the progress of the project. If the payment time arrives, the progress of the project has not been improved at all, developers have to pay a certain amount of responsibility.
IV. Clear Pricing Method and House Price
Many people pay later when the developers say that the price of the house has been adjusted, either according to the adjusted price to implement, or check out. This requires that when we sign the purchase contract, the agreement on the price terms should be accurate to the specific amount of the unit price, and clear the way of valuation and the total price of the house.
5. Property related agreements.
When buying a house, it is necessary to determine whether there is a property company in the project, whether it is trusteeship or self-owned by the developer, and the property management matters of the developer need to be clarified.
6. Define the difference of area and household type
A lot of houses have shrunk after receiving the house, and the size of the house is different from the previous agreement. In order to avoid this loss, it is necessary to agree on the liability for breach of contract in advance.
Seventh, housing quality and other issues
The wall, floor, roof straightness, roof, kitchen, toilet waterproofing and other conditions need to be agreed, if there is a problem, compensation or check-out, developers need to deal with in accordance with the liability for breach of contract.
8. Define the delivery time and use time of public and facilities
Water, electricity, residential roads, parking spaces, commerce, schools, greening facilities and other facilities should be agreed on good use time, many supporting facilities can not be delivered on time, affecting the living experience.

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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