Do you already own a home in Vietnam and want to sell it quickly? Aside from contacting an agent and going through a lengthy procedure, here is a more efficient way to sell your property at a fair market rate.
The Vietnamese housing market remains complicated to navigate, especially for foreigners. Buying and selling properties can take months before deals get closed.
What should I do if I’m traveling abroad? How long does it take to completely transfer ownership rights to a new buyer? Is it expensive to sell my house in Vietnam? These are all the common questions that a foreigner might have.
In this article, we’ll discover the home selling process for typical owners and how you can sell quickly and get paid in cash. Let’s figure it out!
Is it possible for foreigners to buy and sell properties in Vietnam?
The answer is: Yes. You can transfer ownership rights to either domestic or overseas beneficiaries, which include both individual and organizational purchasers. The Vietnamese government issued Decree No. 99/2015/ND-CP in 2015, allowing certain operations to take place.
For homeownership for foreigners, please refer to our other article here.
Steps to sell your property in Vietnam
In general, selling real estate in Vietnam is a time-consuming and complicated process. To successfully sell and receive cash payment, you must follow these steps:
- Step 1: Re-list your property on websites,
- Step 2: Clean up your house and repairing (if necessary),
- Step 3: Take pictures of your house to post on websites,
- Step 4: Find agents (fees up to 3-4%),
- Step 5: Wait for prospective purchasers to contact you,
- Step 6: Have interested buyers to visit your property,
- Step 7: Negotiate back-and-forth with potential buyers,
- Step 8: Complete required paperwork,
- Step 9: Hand the property over,
- Step 10: Relocate to your home country.
You will be paid in immediate cash or bank transfer for your transaction. There is no set timeline for closing, but it might take up to 3-4 months. You can hire agents or other third-party service providers to expedite the process, but this comes with additional effort, trust, and fees.
Furthermore, without supervision, first-time sellers can face frauds and a low property liquidity. Working with leading real estate companies to sell your property is more efficient for you to complete transactions. One such example is Homebase – a pioneering proptech company that provides Southeast Asians with a more flexible solution to owning and selling real estate products.
Homebase is trusted by global venture capitals and private equity firms, including Y Combinator, Antler, Partech Partners, VinaCapital among others. The company has also successfully raised 30 million USD in their latest funding round to facilitate homeownership across Southeast Asia.
An alternative to selling your property – Sell to Homebase
“Sell to Homebase” is the ideal option if you want to sell your property quickly and earn immediate cash. This prevents you from the regular inconveniences you may encounter when selling the traditional way.
The top benefits of this method include:
- A speedy selling process within 3 days, instead of 3-4 months as is the case with traditional selling methods.
- Cost-effectiveness by cutting off the agent fees. The Homebase team will work directly with you for any decisions.
- Competitive market price for your house. Homebase uses market data and advanced technology to accurately evaluate property prices.
You’ll also be paid in cash after 72 hours if you accept the offer and the property passes inspection.
How to sell your property with Homebase
Step 1: Fill out information about your property to get an offer. You will need to provide information about your property and Homebase will work on it. If your property qualifies, they’ll contact you for next steps.
Step 2: Complete a quick check. To obtain the most accurate pricing, Homebase employs market data and property valuation methods. This makes sure you can sell at a fair market rate.
Step 3: Sell to Homebase and get paid in cash. Once completed, you can expect to receive an all-cash settlement for your property within three working days.
Selling a home in Vietnam may be a tiresome and stressful procedure that involves a lot of fees, brokers, and property visits. Without experience, property owners may have to wait for months before the transaction closes.
Homebase offers a fast and painless process of homeselling, on top of highly competitive rates based on market data. To learn more about Homebase, you can visit their website at https://www.homebase.com.vn or email firstname.lastname@example.org.