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Metro Manila Projects on the Rise Proposals and U/C's in the capital, Metro Manila
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Old June 4th, 2015, 04:54 AM   #101
Stat1
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Join Date: Apr 2014
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Hey guys, I thought I share my experience with the big developers and maybe you guys can give your input as well:

First one is Robinson's: I was charged a 3% penalty as the bank processing of my loan got delayed. They however negotiated with me and the penalty went down a little although I didn't agree with it, but I paid it anyway.

I had been fully paid with them since about 2 months ago, and I still don;t have the unit in my possession. I wish I could charge them a penalty as well, they did at least promise a turnover date at teh end of this month and at this point, I just want my unit.

Second one is even worse, with Megaworld, I agreed to invest in a condo last year and I gave post dated checks for the pre-selling DP until 2018, around 2M total.

They never gave me a CBTS until last week, a year after I started payment and then out of nowhere, I got a mail this week that they are demanding the turnover within 3 weeks, or at the end of June 2015 which is a long way from June 2018. If I have known I could have prepared more money to offset the pre-selling DP.

I really wouldn't mind the early turnover but I do need a notice since it involves a few millions and not just change I can pull out of the pocket. Not sure why they did this, I'm not signing the CBTS and getting legal help as I don;t know what their legal basis is in changing the payment scheme. On top of it, I didn't sign anything in contract since they just gave the contract CTBS this week.

If you guys have similar experiences I would love to get some insights. I;ll share what the lawyer tells me as well. Thanks!
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Old July 1st, 2015, 07:24 AM   #102
pattycake12790
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Join Date: Jun 2015
Location: Quezon City
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Quote:
Originally Posted by ketsup View Post
hello! i bought a unit from DMCI (40percent DP) and the turnover date was delayed for a year, but DMCI just informed me that i will start my Bank financing on the original turnover date, the bldg is still in construction and i will start my Bank financing already??!! is this really happening?

I also bought a unit from DMCI - Torre de Manila. So far, I'm having no problem with the developer but I'm also worried about the turnover date being delayed because of TRO imposed by SC.

I hope they lift it and it will all be resolved soon...
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