Under current Vietnamese law, real estate brokers who provide false information about properties may face administrative penalties. The fines can be substantial and vary depending on the severity of the violation.

I. What Constitutes False Information About Real Estate?

Providing false information about real estate involves disseminating inaccurate, misleading, or intentionally concealing important information about a property. According to regulations, this includes failing to provide, providing incomplete, or dishonestly providing documents or information about the real estate being brokered. Examples include:

• Misleading area information: Providing inaccurate details about the land or usable area.
• False legal status: Sharing incorrect information about land ownership certificates, legal documents, ownership rights, or ongoing legal disputes involving the property.
• Infrastructure misinformation: Misrepresenting the location, traffic connections, surrounding amenities, or planned developments in the area.
• Incorrect pricing information: Providing inaccurate details about selling prices, hidden costs, or transaction-related fees.
• Quality misrepresentation: Misleading statements about construction quality, structural issues, or technical problems with the property.

II. Consequences of Brokers Providing False Information About Real Estate

When real estate brokers intentionally provide false information about the properties they represent, it can result in several negative outcomes, such as:

• Financial harm to buyers: Buyers may suffer financial losses when purchasing properties that do not match advertised descriptions.
• Loss of trust for sellers and brokers: Those providing false information risk losing credibility and facing administrative penalties.
• Disruption of the real estate market: Misleading information undermines transparency in the market, making it harder for buyers to make informed decisions.

III. Penalties for Providing False Real Estate Information

Under Decree 16/2022/NĐ-CP, real estate brokerage companies providing false information about properties can be fined between VND 200 million and VND 250 million. For individuals, fines range from VND 100 million to VND 125 million. Additionally, violators must rectify the issue by providing accurate property information to clients.

IV. Importance of Penalizing False Information in Real Estate

Protecting consumer rights: False information directly impacts buyers, leading to poor decision-making and potential financial losses.

Ensuring market transparency: Accurate information is essential for maintaining a healthy and transparent real estate market.

V. What Can Homebuyers Do to Protect Their Rights?

Thoroughly verify information: Do not rely solely on brokers. Independently verify details through sources such as land use certificates, construction permits, and urban planning records.

Request complete documentation: Before making a purchase, ask brokers to provide all legal documents related to the property.

Consult a lawyer: If there are any doubts, seek legal advice to ensure clarity and avoid risks.

VI. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

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To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

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For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

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