which can be a good thing for you. However, I also assume that the developer also made efforts based on your comment to ensure that your home purchase would still be under development despite the hiccups in your financing. As such, you may also not get all your money back, as the developer should also recover the economic costs and risks incurred when they sold you the property. And it could also be the reason why the Maceda Act provides a better form of relief for homebuyers who have already invested two-year payments (which is section 3). In some cases, the Street Smart seller acts and tells a buyer A to pay a prepayment in a real estate business for his home loan before closing. The probability of fraud is high in this case. The seller will close his house with buyer A`s money. The seller receives original documents from the bank. After that, the seller will sell the property to another party say Buyer B.
The same property is now legally sold to Buyer A and Buyer B. The seller receives almost 1.5 to 1.8 times the sale value and the buyer A-Kuufer B will fight together for the property. Pwede nyo pong contact if HLURB to help you reconcile if hindi po talaga kayo magmeet ng conditions with the seller. The auction number Dept is (02) 926-1065. You can also email them and ff up by phone call to email@example.com. Good luck! Hello Mrs. Rizza My cousin offered to sell me her property for PHP2.5M, she was desperate to leave the area and her offer was: 1. Give her a down payment of PhP450K, and the rest is “Pay when Pay able” (I offered to pay her 100K every 6 months – more in case of good financial situation) 2.
It will lead to the transfer and pay the fees. Etc. I found this after looking for my situation. I read about RA 6552 aka Maceda Law and another who said that this does not apply to loans by the bank or Pag-ibig funds. It`s true? Like other people who posted here, I was an OFW, but I recently lost my job and myself to pay the monthly depreciation of the apartment I bought in April 2015. Given my situation, I will not be able to distort payments. How can I handle this? I hope you could give me some instructions, since I have already contacted the bank to ask for options, and I was told of these: Hello @colleengalon:disqus! Depende pa rin po yan sa nakasaad sa inyong contract na pinirmahan ninyo ng inyong seller. Kung nakalagay rin po na naipangako ni seller na ibibigay sa inyo yung land title by that time, then pwede nyo po silang habulin including yung payments na ginawa ninyo for not-fulfillment of contract. Hi @aA Frowein! Depende pa rin in its contract kase I think the Maceda law refers to depreciation payments. If yun has paid more than 2 years of amortization, we follow the law.
But if the payments relate to the down payment or equity, we will do it in unang sinign nyo, which is the reservation agreement or letter of intent. Mam Rizza, I have so many questions about real estate problems with different cases. My uncle bought a 300 m2 residential lot, untitled, in 1967, it was duly documented, notarized, and the Tax Dec was transferred to his name…. but in 1978, the daughter of the former landowner of the same property applied for a basic title and it was in her name, although she already knows that the same land has already been sold to my uncle… my uncle has no charges against her, who is so at the deed of Sale. Now that he`s dead, what should his children do? they want to deposit and pay the inheritance tax, but they don`t have the original copy of the title because it was in the name of the owner`s daughter or the previous seller… My cousins only file taxes, notice of purchase… What should they do now? what could be the LRA`s priority the 1967 deed of sale or the country title in 1978…
It`s so complicated. In which case they must resubmit the title holder….