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Real estate business like 'hanging goat's head and selling dog meat' 3
In June 2017, Ms. Kim read an advertisement for land in District 2 and quickly contacted a broker to see the land.
It happened, there were many people on the bus who agreed to go to Dong Nai, so Mrs. Kim was also afraid to object, so she agreed to go and see.
However, when returning to this company’s office on To Hien Thanh Street, District 10, Ho Chi Minh City, customers must pay a deposit of 625 million VND. If they do not pay more, they will have to forfeit the 50 million deposit previously paid.
A customer wearing a yellow shirt is hanging a banner accusing a real estate brokerage company of selling land like `hanging a goat’s head and selling dog meat`.
Also caught in the scam just like Ms. Kim, an investor named Hong was offered an ecological project in Nhon Trach by a broker, but it was not until he paid 1.25 billion VND to buy 5 plots of land that the customer learned that this project had been canceled.
Luckier than the above investors, Mr. Viet escaped the trap because he early detected unusual signs.
As for Mr. Hung, he shared that he twice fell into the trap of brokers offering land on Nguyen Thi Dinh street (District 2) and Tang Nhon Phu area (District 9), but the real estate sale forced customers to get on the bus and take them down near Long Thanh airport.
Chairman of the Ho Chi Minh City Real Estate Association, Le Hoang Chau, said that in the real estate market of Saigon and the southern provinces, there have been many cases of real estate trading in the style of hanging goats’ heads to sell meat.
Mr. Chau said that these fraudulent acts are becoming increasingly sophisticated with many unexpected tricks.
Some brokerage companies even change the name of the project to refresh the product to deceive customers.
This expert analyzed that these tricks and tactics violate the prohibitions in the Real Estate Business Law.
According to Mr. Chau, the only way the Association can currently do is to propagate and warn about these fraudulent and illegal activities and quickly notify the authorities in the areas where the incidents occur.
In addition, the Association’s leaders also advise real estate investors to proactively equip themselves with protective armor when participating in the real estate market to become smart consumers.