You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

August 15, 2011

Standard Purchase Agreements: Protecting Condo Buyers

Subscribe to Updates
Bangkok Post, Corporate Counsellor Column

The property sector in Thailand has seen rapid growth over the last decade, with many Thai and foreign investors purchasing units in condominium projects, for both investment and residential purposes.

However, some purchasers have encountered problems with condominium developers that have not completed their projects as promised due to lack of financial support, problems with contractors, or other external financial problems. In some instances, the developer fails to perform its obligations under the condominium purchase and sale agreement or cannot complete the project and transfer the unit to the purchaser within the time frame that is specified.

Download Full Article
Related Professionals

Practices

Real Estate

Location

RELATED INSIGHTS​ 

August 17, 2018
Partner Vinh Quoc Nguyen contributed the Vietnam chapter of Practical Law’s Corporate Real Estate Global Guide 2018, a high-level overview of commercial real estate laws and regulations in 30 jurisdictions worldwide.The Vietnam chapter highlights recent trends in the country’s real estate market, including condominium, office, and retail sectors, and explores common structures and financing sources for real estate investment, as well as limitations faced by foreign investors.
Read More
June 29, 2018
On May 22, 2018, the government of Vietnam promulgated Decree No. 82/2018/ND-CP on industrial and economic zones (Decree 82) replacing Decree No. 29/2008/ND-CP dated March 14, 2008, as amended by Decree No. 164/2013/ND-CP and Decree No. 114/2015/ND-CP (Decree 29). Decree 82 will come into effect from July 10, 2018. Below are some key changes of Decree 82 in comparison to Decree 29:Export-processing enterprises are allowed to conduct the purchase and sale of goods and related activities in Vietnam
Read More
May 25, 2018
Section 35 bis of the Consumer Protection Act B.E. 2522 (1979) grants the Contract Committee of the Consumer Protection Board the power to designate “contract-controlled businesses,” in order to control the contents of written contracts between certain businesses and their consumers in the course of sales or services. Designation as a contract-controlled business is intended to ensure that contracts contain necessary terms and conditions and to prevent consumers from being unreasonably disadvantaged by unfair contract terms.
Read More
April 12, 2018
The latest edition of Practical Law Company’s Doing Business in … Global Guide includes a chapter on Vietnam written by lawyers from Tilleke & Gibbins’ Ho Chi Minh City and Hanoi offices. The popular guide, produced in association with Lex Mundi, the world’s largest network of independent law firms, provides the ins and outs of establishing and operating a business in more than 50 jurisdictions worldwide.The Vietnam chapter covers the following main topics:
Read More