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do not invest in Philippine pre-selling condos

I would rather shoot myself in the head than invest in pre-selling condos in the Philippines. My brother and I were interested on getting a condo unit not really as an investment but as a vacation home. However, when I read a contract to sell from one of the Philippines' top developers, I was shocked at how skewed it is on the developer's favor. There is very little protection, if any, on the buyer's side. I think you would have to be either really stupid or overly trusting to sign one of those contracts. The first issue I had was that they require the full post dated checks even before providing the contract to sell. What the hell? They should give the CTS when the buyer has paid 10% downpayment. Next, if they failed to deliver the unit as scheduled, there is no compensation to the buyer. They can practically construct the condo as slow as they can. Then they are also free to alter the floorplan as they please. So if you expect 10 units per floor, you might be surprised that they have increased it to 20 units per floor upon turnover. These are just a few of my concerns and when I brought this up to their agent, they said they are a reputable developer. Hmmmmm...... I think the contract speaks a lot more than any developers' reputation, regardless of how well deserved it is.
Buyers, beware! Happy investing.

Comments

  1. i totally agree on this.. by the way may i ask who's the developer and where's the location of the condo that you were planning to buy? is it in manila or cebu? thnx :)

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    1. Hi Mee Shell. Thanks for dropping by. Anyhow, the name of the developer nor the project location is irrelevant. What I would like to share here is for prospective condo buyers to review the contract very carefully and seek protection before investing in any project, especially if it is at preselling stage. Furthermore, remember that words mean nothing to most salespeople, its their job to sell after all. Unless its explicitly written in a contract, promises can and will be broken.

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    2. Of course the name of the developer and the project location are relevant! Why do you think we have "Blue Chips" in the stockmarket? Because these companies are reliable and with history of reliability and profitablity. And please, bad developers exist everywhere, not only in the Philippines.

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    3. Yes, bad developers exist everywhere. While a developer's reputation is an important consideration, it becomes irrelevant if the contract does not protect the buyer.

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  2. When you said "pre-selling"? What does that mean?
    Anyhow, thanks for sharing. I never really thought about buying a big property such as a house/condo as I would love to travel around the world with my back pack while I'm still young. I don't even want to get married. But when I get too old, that I couldn't walk places anymore, I'd probably rent a small room where I could retire in peace. :D

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    1. hi Jinri
      even if you like travel, buy a real state.
      becase your 10,000 U$ now is equal to less than 5,000 after five years
      and if you have a realstate in good place (like main cities), then your 10,000 u$ now, will be equal to 12,000 (in today prices) after 10 years. because the real state prices is going up more than other items

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    2. Hi Jinri,

      If you can't afford real estate, then just be faithful in paper assets such as stocks and bonds. Even if you travel a lot, make sure you have something left for your investments for your retirement. I was a traveler and I used-up all my "savings". Although travel gives you euphoria, sometimes it pains to think all the money that was lost during those years.

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  3. Hi Jinri and thanks for visiting. "Pre-selling" as I used it in the above blog post means that the condo is not yet ready to be occupied. A more appropriate term would be "pre-construction". Good luck on your backpacking adventures and I hope your investments will serve you well during your retirement in the far future.

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  4. In this matter, it depends really on the things that you need to check out on. If you would be able to really get things to work out on this one, then that's fine. You can get less price on a pre-selling property, provided that it would finished on the allotted time. Also, check their credibility. In that way, you would be able to make most out of the things here.

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  5. man
    i do not see the above reason is big matter with very known developer (like the first two or three developer in the country),
    they will make a contract in thire side, look the pepole buy from them before, how much they paid and how mich the unit is worse now,

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  6. Thanks for sharing these warnings!

    They really do sound like scammers with a contract like that. I would expect a contract they wrote themselves to be skewed towards them, but that seems a bit much.

    If that's the case, I'd rather wait for a ready-for-occupancy condo and rent it out or re-sell if the market value appreciates quickly.

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    1. My brother and I haven't ruled out purchasing a condo completely and, as you've pointed out, we will only be considering those that are ready for occupancy.

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    2. I recommend you to buy ready for occupancy condominium. But you have to understand that RFO unit is quiet expensive rather than buying a pre selling condo unit. Talking about Post dated checks, I can recommend you a developer that will let you pay bank to bank transaction for the payment of the equity. See my fb: https://www.facebook.com/cis.ricio

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  7. Condo are cheap in some developing countries compared to a places loik hong kong new york or london.

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  8. Hi Mr. simplepinoyinvestor / everyone,

    I've actually been working in the real estate industry for a short 5 years and I would like to attest to you claim regarding the late turnovers. Yes, some (if not most) developers I have come across in the industry deliver their units late. Although, once they deliver it late, that would give you leverage to question the breach of contract and to simply bring down their defenses and open them up towards a settlement for the latency. Lastly, there are developers I know who have had absolutely no late turnovers since their beginnings. Some research on the companies profile, specially from real estate forums would help you out on this.

    As for your pre-selling concern, pre-selling is actually way beneficial (from the INVESTORS viewpoint rather than a PURCHASER/OCCUPANTs view point). Reason being is that pre-selling projects, once delivered, have most probably appreciated in value (considering you purchased the property from a well known and established company, may they have negative or positive feedback in the market).

    Point is, pre-selling or units that are ready for occupancy both differ in the eyes of the client. An investors point of view in contrast to the point of view of a client simply looking for their new home.

    *as for the PDCs, I myself do not entirely agree with this condition although honestly, it brings the client/buyer more benefits than it does to the seller. For one, having PDCs will save you from 1) Heading to the developers offices or directly to banks and depositing cash monthly, 2) Discipline to pay your dues on time, saving you from the penalties being imposed by the developers for late payments & lastly 3) once you submit post dated checks and you ask the seller to sign your receiving and annex that with the contract, you have legal leverage from that (speaks for itself).

    Hope this helps on your decision to purchase a condominium.

    Should you have any further inquiries, please do not hesitate to email me at mldlmendoza20@gmail.com.

    God Speed!

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    1. Hello Mr. Marx,
      Any consequences if I decided to resell my pre selling condo? I already paid up 20%DP.
      Next year will be the turn over....

      Thank you

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    2. Thank you Marx for sharing your thoughts. I actually know several people who made money buying pre-selling condos and selling them a few years later for a profit. Good on them. There are those who also lost money when they were in a rush to sell their condos and had to sell them at a loss. Personally, I am not comfortable with pre-selling condos, both from an investor and an occupant's point of view. For those who are, I wish you well.

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  9. i totally agree! na biktima din ako this month lang. Need talaga basahin nasa agreement, kahit pinakamaliit na font. Lahat pabor sa Developer, it doesn't matter nga kahit kilala pa silang developer what matters most is nilalaman ng agreement. I learn from my mistakes na din, nkapagbigay ako ng 7,500Php na Reservation, and magbabayad na sana ng DP, and saka ko lang binusisi yong maliliit na font sa IPA (Installment Purchase Application) na Developer can disclose the contract for any reason and wala silang pananagutan sa purchaser. Dko ko na nakuha reservation but I will not continue anymore. Nasa huli palagi ang pagsisi. Atleast 7500 pa lang, but masakit pa din d mo kasi un mapupulot lang amount na yun.

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    1. what dyou mean by that?.. about the disclosure of the contract?

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    2. The developer can disclose the contract to public? or to public interest like that of an investigation for litigation? pls clarify this.

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    3. I totally agree with simple pinoy investor Whether it is a reputable developers or not, the contract always favor them. There is no protection from the buyer. Just for instance you lost your job and cannot afford to pay your arrears . In their CTS DEFAULT AND CANCELLATION. In the event that the buyer fails to pay the purchase price the seller have the right to collect penalty interest at the rate of 3percent /mo. Of the unpaid amount.
      The seller is entitled to cancel the contract without need of court declaration .
      Where the buyer has paid at least 2 years of installment in case of cancellation buyer is entitled to to a refund of 50percent of the total payments ..
      THIS IS MY PROBLEM I paid 1yr. Amounting to almost 200k and I cannot get it back and in their contract . All payments made by the buyer shall be forfeited as a liquidated damages and or considered rental for the use of the unit. The problem is how could it be rental i bought a pre sell condo it hasn't built yet!!! BUYERS BEWARE DO YOUR DUE DILIGENCE...THIS IS A VERY EXPENSIVE LEARNING EXPERIENCE...

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  10. I'm working as a property specialist in one developer here in the philippines,

    note: pls read the contract very well before signing it! It's a risk na bibili ka yo ng pre-selling units.oo midyo me kamahalan nga ang RFO pero segurado na mam na talagang makikita at matitirhan nyo na ang binili nyong unit. So better to buy RFO condominium unit.

    At sa usapang where to invest? I advice to invest in cebu, there's a lot opotunities and developer now in cebu and basically cebu is named as number one in terms of livable city in the philippines. And there were lots of RFO units now in cebu, just be carefull on choosing your developer. You ask us thru email greggnable1@gmail.com or txt 0917917348.

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  11. Hi,

    I was also asked to give post dated checks for the 20% DP on my condo. This I have provided without thinking i will get screwed later. I was confident the Developer is legit and besides, i think the PDC's were assurance on the part of the developer that you are really going to do your part as buyer which is pay. You cannot just pay the reservation and pay on a monthly basis as you may wish for the DP. I mean what if you just suddenly decide that you cannot continue to pay due to some reasons, then what the developer will get from it when they could have sold it to someone who is able to pay up to completion of the agreement.

    There's always a risk you might get screwed and loss when you invest whether be it on Real Estate or Stocks.

    When i have completed my 20% DP, the developer released my CTS and handed over to my bank where I have applied for financing for the remaining 80%.

    However now I am planning to sell my unit for my mom's medication.

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  12. I am a licensed realtor in Canada and I can tell you that pre-sale condo in the philippines is no different than pre-selling condo in Canada. It's always the developer has the right to alter the construction project. So this should not be an issue.

    I purchased a condo myself and I gave my 5 years worth of PDC's. The only reason I did that is because I did an extensive research of the developer. I would only touch real estate in the Philippines that has a branded name attach to it.

    That's my security that the developer will not screw around when international icon NOT local celebrities is on the line.

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    1. Thank you for visiting and I do see your point of minimizing risk by sticking to well known or branded developers. However, there is still no substitute to a fair and balanced contract between seller and buyer. So even if the developer is number one in the Philippines, investors ought to study the contract carefully before handing over any amount of money.

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  13. Also, one thing that I would advise you thinking of purchasing properties especially if you are from overseas is that - don't over speculate that you can easily dispose or resale your unit right away once its turnover. This is common mistake people make from overseas. Philippine real estate is not the same as North America where everyone can equally afford real estate.

    It's common sense not a lot of Filipinos locally can afford Million Peso worth of Condo. Most buyers are from overseas so if you are looking to dispose your unit you have to advertise is outside the country.

    You buy it for investment - for rental, vacation or retirement home. It will sell in time but not right away! Providing you are in desirable location like main cities.

    ONLY BUY PHILIPPINE REAL ESTATE IN THE MAIN CITIES!

    www.manilainvestmentproperty.com

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  14. hi i like this subject, congratulations to the author, i really learned a lot, thanks for the author, yeah i am planning for preselling condo too, but now i have change my mind. I have other properties in philippines but long time back it most have fair contracts for two parties. On this article i feel worried, anyway thanks to all of you. I am ofw and i may take RFO condo soon, but i need to study the contract well, i do not want to give reservation without checking the contract. i may reserve if i am sure. Regards!

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    1. that's good. RFO units would more safe than a pre-selling unit

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    2. Thank you for visiting and glad to be of help. The whole point of this post is to encourage investors to study contracts carefully and invest accordingly.

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    3. This is a good help for potential property buyers. For more info, I can help you to find good RFOs that has a strategic location. Potential buyers can email me @ jonathanramos.filinvestsales@gmail.com

      Thanks and God bless.

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  15. Good read. Always look for the known developer.

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  16. they ask you to issue post dated checks because kahit 1 lang mag bounce dun they can prosecute your criminally for estafa or anti-bouncing checks law. it's an assurance on the part of the seller that you can afford to pay them. otherwise, you will be criminally liable.

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  17. Pre-selling condos are really suited for property investors who are willing to pay while the building is under construction. Usually they have funds to sustain it. The benefit is the fact that by the time the building is up, the value of their property is most likely have been doubled. But I have to agree that choose only to buy from a reputable property developer NOT construction builder. RFOs are good option too especially if you can get rented out. Use the rent to pay for your installments after turn-over. Make sure you choose a property developer who have a very good property manager for the project that maintains the cleanliness and keeping the place in a very good condition at a reasonable association dues. I hope this helps.

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    1. Is SMDC a good developer?

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    2. they are on the average. (low to medium). they "mass produce" condos. So for them it's quantity over quality. For sure they deliver but actually it depends on your requirements or needs. location, function, etc.

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    3. Is Century Properties a good developer? They are pre selling condos in Azure right now..

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    4. What about Empire East? They are in this industry for 20+ years now and they started with house and lots (Laguna belair) then now with condominiums. Tried to research about them and asked some people that has units with them and people who invested with them while they're doing pre-selling. Everyone that I talked to are happy with what they have or with what they invested to. As of now, they are at 100% completion rate and with 100% meeting their target date (sometimes, they are able to build their towers earlier than the supposed turnover date). Any feedback regarding Empire East?

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    5. Century Properties are full of incompetent managers especially Azure property. They give you the run-around and are very rude and inconsiderate.

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  18. That's nice. If you're looking for the best tips and guides before buying a condo, click here What to consider before buying a condo its really helpful

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  19. I'm glad you wrote about this issue. I actually bought a small condo ready for occupancy 5 years ago in Manila. One thing that I always kept in mind is that whether PH or Canada, I would only buy ready for occupancy units or at least, I can see that the structure up. One place in Mactan, I asked to see the contract and management contract (it was going to be a condotel), and the real estate broker couldn`t get me one. Finally, they manage to give her a copy of the deed of sale, but none for the condotel contract. `Pag usapan na lang daw with the VP (of a big real estate developer) and the Controller.` Well, in law that`s not good enough, and I told them it`s my money!

    The condo laws in the PH and Canada are quite similar. I believe whoever crafted the condo laws there had lived in Canada. Even condo laws here are stacked against the buyer.

    Another thing that I should point out, is you have to look at the location, the future development of the area. In Manila, elsewhere in the PH, zoning laws are either non-existent or just there for show.

    As of last year, I have decided to sell my unit in Manila. I had wanted to take it back for personal use, redo the unit to my `taste` and use as my pied a terre in Manila. It is in a very good location BUT the traffic congestion is horrific - it takes me a long time to catch a taxi, sidewalks are non-existent, and the MRT is always jam packed unless one travels during ungodly hours. Now it`s just for income, just slightly better than putting my money in the bank.

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    1. I really wish the current president can address traffic congestion, it is such a drag on productivity. I hope you made a profit when you sold the condo. Happy investing!

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  20. Coming in from a different angle, you people are forgetting what happens during occupancy.

    Be very wary about acquiring a condo in the Philippines. It appears that many are plagued with mechanical and electrical related problems. I have first hand knowledge of issues with water leaks and electrical issues in condos constructed by 2 of the top developers in the Philippines. These issues raise their ugly heads later. Its ok if the problems are easily resolved. But they tend to be perennial.

    Developers and brokers will not talk about this for obvious reasons. The language of the contract will probably be the least of your problems. And I have not even mentioned the association fees.

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  21. If your intention in acquiring a condo in the Philippines is for investment.... think again. There are a ton of condo units that have been for sale and are not selling. But if you have money to burn....

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  22. Thanks for sharing this. If you want to buy a pre-selling condo, know the developer carefully. Or else you should go for RFO. There are lots of condos for sale in Fort Bonifacio, try to visit them.

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  23. Be very wary about acquiring a condo in the Philippines. It appears that many are plagued with mechanical and electrical related problems. I have first hand knowledge of issues with water leaks and electrical issues in condos constructed by 2 of the top developers in the Philippines. These issues raise their ugly heads later. Its ok if the problems are easily resolved. But they tend to be perennial.

    Developers and brokers will not talk about this for obvious reasons. The language of the contract will probably be the least of your problems. And I have not even mentioned the association fees.

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  24. I beg to disagree about the information above. Not all, pre-selling condos in the Philippines like condo in the Fort Bonifacio are favorable to the developer and its agents. It would only be favorable to buyer if he/she is constantly asking for updates about the property bought.

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  25. It depends on the developer, like the Florence Mckinley hill, managed by the Megaworld who has a good reputation in this industry. Before buying a pre-selling condominium, know the background of the management.

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    1. I beg to disagree. There are a lot of complaints against Megaworld/Empire East. Just google their Pioneer Woodlands Condo in Mandaluyong and you'll see.

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  26. If your planning to bu a pre-selling condo, choose the right developer like Megaworld, SMDC, etc. They are known as a reliable in this industry. The best choice is the condo in Bonifacio Global city, perfect location.

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    1. I beg to disagree. There are a lot of complaints against Megaworld/Empire East. Just google their Pioneer Woodlands Condo in Mandaluyong and you'll see.

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  27. These are very helpful things that everyone should consider before buying a condo. Before buying a condo, it is important that you are honest with yourself of how much you can afford so it won’t turn out to be a disaster. For more info on pre-selling condos at The Fort Taguig Philippines, you may visit http://www.thefortcondominium.com

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  28. We can't blame you if you had bad experience investing in real estate, that we can't erase but rather maximize as learning. Buying a pre selling condo per se is an investment and as we all know investments have risks attached to it (meaning over time you get some earnings and losses as well). It is very important to do your home work as investor before signing up for something. Buying a home either for investment or for end use for your family is one of the big decisions we do in our entire life and we cant messed up just because we didn't do research and didnt raised questions whenever there are gray areas in the contract you're about to sign off. I will highly suggest you have comparative analysis on the projects first and letting you know the pros and cons of each which is based on your exact requirements. For more info or if you have questions in investing in real estate either in pre selling or resale (secondary market) email me at nielveluz@realityhomes.ph. Im a licensed broker and we this not just for profit but for our profession's sake as well. Thanks.

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  29. I just did a search for realtors that would assist in selling my condo in Cebu - its a real nice condo but to my disappointment there are no companies interested in listings ! Just page after page of condos already for sale . In the last several years literally thousands of condos have been developed in the Cebu area and the real estate companies are only interested in selling these new developments.... Now the rental market for condos is dead.... there are so many condos on the market now that they can't even be rented out . The asking prices have dropped about 30% in the last 2 years .
    The main problem is they have no real city planning - anyone that can pay the right people can put up a development with 300 condos - the city will not refuse any developers . Even with the huge glut of condo developments they are still being put up at an alarming rate .....
    My Advice to a potential buyer would be to hold off .... no need to spend $250k on a luxury condo when you can now rent one for $700 a month and not have to worry about selling it someday in the future .... many listings I have been seeing on the resale market have already been up for several years . Remember the agents in the Philippines have no interest in representing individuals in selling their condos .

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    1. 30% drop, yikes! Thank you for sharing this one. Note to investors: Real estate prices move in both directions, up and down. Although for those who are looking to buy, getting a 30% discount is not a bad deal.

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  30. Wow.. hope I can buy a condo in the future with pool, only dreaming!. I can afford maybe only less than 1 mil and installment ,impossible to have one. Thanks for the information I got here, I can share with friends who wishes to invest.

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    1. Always dream and then strive hard to achieve that dream. Happy investing!

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  31. this is a question anyone who has purchased a preselling condo in Makati and then took possession at turn over. The question is how much more was the condo worth at turnover? had the condo appreciated from the preselling price? examples would be appreciated for I am looking to purchase a preselling unit in Salcedo village.

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  32. For me, SMDC is really a big disappointment.
    .. particular to our agent..
    So guys, be sure you have a truly reliable and trustworthy agent, before you buy a condo units.

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  33. Hi,

    Have purchased a pre selling condo in SMDC Grace Residences Taguig. We have been advised that there will be a delay in the turn over of their unit. Would it be possible to request for a restructure of pre selling payment until unit has been delivered? Thank you.

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  34. Hi! This is Ryan Bonn Duadua, If you want to invest in pre-selling condos, you have to consider the following:

    1. When will be the actual turnover of units?
    Turnover of units is gradual or by level per floor. They have a grace period of maximum of 6 months for the total turnover.

    2. Check the credibility of the developer. How many projects that are already finished. Remember, all developed condos have issues, there are no exceptions.

    3. If for investment, did you conduct feasibility study before you invest?

    4. Is your agent a licensed real estate salesperson? Check for his credibility. Look for expert licensed real estate brokers or salespersons. Ask for their HLURB License to sell and PRC License number and verify.

    5. Look for a No Downpayment scheme projects. These are good as rent-to-own units.

    6. Before signing a reservation agreement, read it carefully. Ask the expert what are the terms written in the agreement.

    7. Last, study the MACEDA LAW and the existing Condominium Act of the Philippines before investing.

    for more information, you can visit my Blog: www.ryanbonnduadua.wordpress.com

    Ryan Bonn C. Duadua
    Lic. Real Estate Broker

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  35. Good Day!

    Anyone here availed condo unit from Grace Residence @ Taguig Tower 1!? They said turn over date will be this month. Anybody who already subject for turn over of their unit!?

    Thanks!

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  36. Maceda Law in brief states that a buyer can't get any of his payment within the first two years . . .

    Buyer can get back 50% of his payment between two years to five years.

    after the fifth here, one can get 5% more each year of down payment . . . at a maximum refund of only 90% . . . meaning after 13 years of payment . . .

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  37. It wouldn't surprise me much if smdc and other developers systematically "sell" the same unit to several buyers and keep the money as they actually can do this leagally with reservation terms like this ".. fail to submit the required documents and execute the relevant contract to sell and deed of absolute sale for the property, .... or fail to comply with any of the terms of my purchase, the company shall have the sole option to (i) cancel the sale and forfeit in its favor all payments made.." The developer knows in advance that some buyers will not be able to provide these documents or accept the contract to sell etc. I've visited 15+ condo projects and wherever I come there is never anyone living there... just like small ghost towns. So after paying for a year or two they will fail in some way and lose there unit and the developer keeps the money. Often the agent says that the unit is available because "we couldn't reach the buyer", "buyer couldn't provide documents" etc... Correct me if I'm wrong, but I Think they do this systematically... There are no "... good guys" out there.

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    1. It would be interesting to see the financial report from SMDC and other condo developers in the Philippines. Maybe they earn more on forfeit of their "customers" downpayments and reservation fees than on successful sales, as they can repeat this infinitely and still keep their "lure" - the condo unit... And they can repeat this fully legally with new "customers"....

      Maybe they do a "reversed" credit check of the victim to be sure he/she will not be able to pay the total amount the second year so they can forfeit as much as possible. From the third year they though have to give back 50% of the downpayments to the victim by law, so it's important for them to cancel within the second year of downpayment.

      The Torre de Manila by DMCI is just another example of how rotten the leadership and owners of these businesses are.

      No I would not invest in the Philippine pre selling condos, actually I don't think it is a good investment to buy a condo in the Philippines today at all. Who would buy a second hand condominium unit if you can't even trust to buy a condo directly from the condo developer??

      And as they are building thousands of condominium units in the Philippines now, all looking the same, why would anyone prefer to buy exactly yours instead of a new one??

      And after your first 20% downpayment, rest assure that you will never see these sympatric, smiling marketing and sales staff anymore.... Now you have to deal with the admin guys and the company's lawyers..., and they are big enough to bribe any judge....

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    2. Seems to be common... : "Priscilla purchased a condominium unit in Makati City from the Citiland Corporation for a price of P10 Million, payable P3 Million down and the balance with interest thereon at 14% per annum payable in sixty (60) equal monthly installments of P198,333.33. They executed a Deed of Conditional Sale in which it is stipulated that should the vendee fail to pay three (3) successive installments, the sale shall be deemed automatically rescinded without the necessity of judicial action and all payments made by the vendee shall be forfeited in favor of the vendor by way of rental for the use and occupancy of the unit and as liquidated damages. For 46 months, Priscilla paid the monthly installments religiously, but on the 47th and 48th months, she failed to pay. On the 49th month, she tried to pay the installments due but the vendor refused to receive the payments tendered by her. The following month, the vendor sent her a notice that it was rescinding the Deed of Conditional Sale pursuant to the stipulation for automatic rescission, and demanded that she vacate the premises. She replied that the contract cannot be rescinded without judicial demand or notarial act pursuant to Article 1592 of the Civil Code. a) Is Article 1592 applicable? (3%) b) Can the vendor rescind the contract? (2%)..."

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    3. Thank you for the comments. As I advocate in the above blog post: study the contract and if you are not happy, then don't invest.

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  38. Thank you to the one who started this thread! I would like to get your opinions regarding Filinvest projects, condo or house and lot. Thank you!

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  39. Buying pre selling condo in Makati for 2020. The Air Residence from SMDC versus The Rise from Shang rila developer . please let me know your opinion. for rental purposes as my plan

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  40. Thank you for visiting. I cannot comment on Filinvest, SMDC or Shang Properties. I can suggest however, that you choose ready for occupancy units. Those that you can actually assess the build quality. Investing in property for rental income is actually a very good way of preserving and growing wealth but you need to do plenty of research before buying. I cannot cover all of them here but to name a few:
    1. Who is your target tenant? Are they students, BPO workers, expats?
    2. Will the rental income cover the associated costs of owning and maintaining the condo?
    3. How well are the other rental units doing? Do they have high rents? Are they staying vacant for long periods?
    These and many other questions are hard to answer for ready to occupy condos but they are even more difficult to answer with pre-selling ones.
    Whichever way you decide to invest, I wish you well.

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  41. I'm planning to buy house in Lot in Cebu and live with my family and relatives. Thank you. Real estate in Cebu is really innovating! Thank you for the information. I'm planning to live in Cebu and buy a property their with my family.

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