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Old January 1st, 2016, 06:21 AM   #141
buyahomeph
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Yes there will be. sometimes developers depending on who the developer is do not want to be entangled in legal battles. however, it will also cost you some money.
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Always get an external broker over an inhouse agent.
a. Better after service
b. More objective when comparing properties
c. Sure to be still with the developer even after several years.

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Old February 16th, 2016, 08:47 AM   #142
quest_uy
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May naka experience na ba sa inyo ng problem sa pag turnover ng parking slot? yung parking slot may wall sa tabi. hindi mo na mabukas yung pinto?
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Old February 17th, 2016, 05:51 AM   #143
buyahomeph
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Sir anong developer?
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Always get an external broker over an inhouse agent.
a. Better after service
b. More objective when comparing properties
c. Sure to be still with the developer even after several years.

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Old February 18th, 2016, 01:57 AM   #144
Baby_face
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All developers are unscrupulous, not to mention the lack of justice. Mediocre design, poor workmanship, cutting corners in construction, delayed turnover,unprofessional and incompetent sales and marketing agents and other malpractices are the norms.The Failippines is the best place for gullible investors. It will never be on the radar for the sophisticated international buyers.
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Old February 18th, 2016, 03:48 AM   #145
quest_uy
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Quote:
Originally Posted by buyahomeph View Post
Sir anong developer?
Sir DMCI po.
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Old February 18th, 2016, 09:09 AM   #146
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Here's another bad experience from Eton. It's a bit long.

Bought a pre-selling unit at West Wing Villa Phase 1 in 2010. Expected turn over date of phase 1 was 2012.
2012 passed, they were still developing the area. If I remember correctly they only started building in early 2013, which was fine with me since I'm in no rush (was still single back then). And construction in phase 1 has already begun. I patiently waited for notification from them that my unit is finish, while I monitoring the construction progress in their website. November 2013 was when I saw that construction was being started on Block 4 where my unit is located.

Things became bad on 2014.

Jan 2014, I asked my wife to go to belton's site office, to check the status of our unit. (Yes I got married mid 2013 ) And also to ask what to do with the last check I issued for completion of payment that was never drawn from my bank and has already lapsed. I chose to send her to the on site office because its closer to where we currently live. This is when I found out that my unit became an open space and that they were moving me to a new unit near the clubhouse. I was force to call customer service, because the on site office could no give me a new completion date and why I was being moved. What I got from customer service after waiting more than one hour on the line? The lot where they relocated me will be finished MAYBE 2015 or 2016.
Feb. 5, they sent me an email, saying that they moved me because my old unit was now an open space, for them to be compliant with HLURB. Now I starting to get pissed off, so I replied to the e-mail telling them that I was one of the early buyers and even paid diligently, by issuing post dated checks for the 30% down and a final check for the 70% balance, which all of them were drawn except for the last check. In the end I just decided to accept what happened and wait again.

Nov. 26, 2014, I recieved a final demand letter, telliing me that I remained in default in my monthly amortization for 36 months due on Nov. 2011 to Nov.2014, and told me to settle the remaining 70% outstanding balance. WTF???!!!! So I called customer service and explained to them what I told them in my email early Jan 2014, that I've already issued checks and the only thing not drawn from my bank was the last check for the remaining 70% balance. I even told them that I'm willing to issue a new one if need be. And besides why are they demanding full payment when the unit hasn't been build yet since they moved me to a new one. In the end they told to just ignore the letter, since the Blk and Lot number in the letter was the old one.

Feb 6, 2015, I received noterized, notice of cancellation and forfeiture of my contract. That was the last straw, so went to Eton main office, mad and pissed and asked them what the **** is going on! They directed to to a peson name Des, since the regular customer service staff could not answer me. If I remember correctly ( I was really mad at that time), they told me that it was the cancellation of my original contract since it was already an open space and that I new contract needs to made. Why the hell did they not tell me earlier to come to their office to sign a new one? I don't know. I was on the verge of just cancelling, but in the end I realized that, I've already invested time in this thing, and besides it's the ideal location for me. And we still have a place to stay, my parents house has vacant rooms. So I agreed on a new contract, but I choose a different unit, a corner I liked which was still available. It will take bit longer, but at least it's a location I liked a lot (We visited the site before I chose the unit). I believe they started construction December 2015.

Jan 2016, finally!! the build started.

Jan 21,2016 After visiting a Lincoln model house, we saw that the Living/Dining/Kitchen area, was too small for us, so we decided to plan a few modification after our house is built. This would require removing the maids room and putting the kitchen there. To make this a lot easier we asked the on site office if it's possible to not install the maids room doors/wall and kitchen counter so we can move the kithcen there after the turnover. They said non installation of items inside the house should be fine as long as we get approval from the main office. Sigh.... back to that hell hole again. At the main office, they told us we have to wait at least one month before we know if our request will be approved or not. I argued that the house is being built as we speak, and I'm worried that by the time the approval arrives the said items would have already been installed and asked if there was a way to speed up the process. Des again talked to us and told us that as long as there is a pending request, the contractor wont install it. I asked her if the site will be informed about our request, she said yes. Now not trusting Eton anymore, we went to the site again after a week to check whether they receive the request we made, well guess what, no request was received, so we asked on site office if they can delay the installation of the maids room/wall and kitchen counter, they said that they can delay it and told me to do a follow up of my request in the main office.

Feb 15-16, after several attempts at contacting customer service, we finally got through and asked for the status of our request. They told me, they will email me the next day.

Feb. 17, no email, called them again, talked to Des this time, she promised a response within the day. We got the response, it was a no, citing specifications and terms of reference will not allow it.
Sigh....They could have just told that from the start. Gues, I'll just wait for it to finished and do the modifications then.

P.S. After goin through all those troubles they couldn't even approve a simple request, which will be torn down anyway after the turn over.

Last edited by percb28; February 18th, 2016 at 09:18 AM. Reason: Added P.S.
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Old February 20th, 2016, 04:37 AM   #147
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You know what is missing? -- A law that protects the buyers of properties, a document that is FOR the buyer's best interests that seller has to sign and abide to. In the same way that a seller's contract protects the seller with remunerations in cases of payment default late payments and the like, the buyer's contract should protect the buyer with remunerations in cases of construction default, late turnovers and the like.

Sure we may have a law already that covers that but why not supplement that with a law that institutionalizes the signing of a buyer's contract by the seller on closing date. This way, the buyer can hold the seller accountable inasmuch as the seller holds the buyer accountable for his/her part.

Developers and sellers get away with a lot from breaking promises (which is a contract in itself) on delivery dates and specifications. With all the hassle of going after them by getting all the documents after the fact, the buyer would just give up instead. However, an enforceable signed buyer's document resolves this. Imagine if the seller promises a turnover date of say 12/31 and failed. The document would calculate an accruing and compounding penalty fee for each day that passes, much like in the event a buyer fails to pay amortizations on due dates.

When a buyer finds difficulty to pay, he/she can not ask for extension of due dates. The due dates stipulated by the Seller's contract (Deed of Sale) are final and enforceable. However, when builders find difficulty to meet turnover dates, all they do is issue a notice of delay and they go free.
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Last edited by Coniocondo; February 20th, 2016 at 08:27 PM.
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Old February 22nd, 2016, 06:48 PM   #148
azumiii
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http://hlurb.gov.ph/laws-issuances-2/?tabgarb=tab6
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In business terms, assets are your pros and liabilities are your cons. You need assets to offset your liabilities.
The simple definition of an asset is something that puts money in your pocket. This is accomplished through four different categories, one of which is real estate. When I say real estate, I don’t mean your personal residence, which is a liability. What I mean is investment real estate, which is a great investment because it puts money in your pocket each month in the form of rent. -RK

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Old March 4th, 2016, 02:35 PM   #149
Finesilberbar
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Quote:
Originally Posted by Baby_face View Post
All developers are unscrupulous, not to mention the lack of justice. Mediocre design, poor workmanship, cutting corners in construction, delayed turnover,unprofessional and incompetent sales and marketing agents and other malpractices are the norms.The Failippines is the best place for gullible investors. It will never be on the radar for the sophisticated international buyers.
You've described MEGAWORLD perfectly in this post. They have good sales people, however, once you've signed the contract and begin to deal with their operational procedures, you'd be left wondering what kind of hell you got yourself into.
After going through the hoops of my condo turnover with Megaworld, I will never purchase a pre-selling Megaworld condo again.
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Old March 14th, 2016, 01:31 AM   #150
gensomaden
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Hi guys, not sure if this is the right thread to ask this, anyways here goes... I'm applying for a mortgage for my condo:

(example)
Condo price: 4M
Balance due upon turnover: 3M

Bank will loan up to 80% of value (or 3.2M), my question is, is it possible to loan 3.2M still even though I only need 3M, so that I can use the remaining 200K for the turnover fee (6% of price)?

So basically, will the bank allow it? I was thinking of asking the bank agent I'm talking to, but thought I should ask here first for suggestions as well.

Really appreciate your inputs guys, thanks!
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Old March 15th, 2016, 05:07 PM   #151
buyahomeph
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Yes. Only what needs to be paid for will go to the developer what is the remaining will be given to you. Also take into account the other charges and misc fees that you have to pay. There are actually banks who provide up to 90% if you want to. Let me knownif you need help.
__________________
Always get an external broker over an inhouse agent.
a. Better after service
b. More objective when comparing properties
c. Sure to be still with the developer even after several years.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

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Old April 7th, 2016, 04:52 AM   #152
ethanbawasanta
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Quote:
Originally Posted by quest_uy View Post
May naka experience na ba sa inyo ng problem sa pag turnover ng parking slot? yung parking slot may wall sa tabi. hindi mo na mabukas yung pinto?
Pag gnyan ba pwede lumipat ng parking slot if may available?
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Old May 6th, 2016, 12:14 PM   #153
klenkleng123
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Quote:
Originally Posted by percb28 View Post
Here's another bad experience from Eton. It's a bit long.

Bought a pre-selling unit at West Wing Villa Phase 1 in 2010. Expected turn over date of phase 1 was 2012.
2012 passed, they were still developing the area. If I remember correctly they only started building in early 2013, which was fine with me since I'm in no rush (was still single back then). And construction in phase 1 has already begun. I patiently waited for notification from them that my unit is finish, while I monitoring the construction progress in their website. November 2013 was when I saw that construction was being started on Block 4 where my unit is located.

Things became bad on 2014.

Jan 2014, I asked my wife to go to belton's site office, to check the status of our unit. (Yes I got married mid 2013 ) And also to ask what to do with the last check I issued for completion of payment that was never drawn from my bank and has already lapsed. I chose to send her to the on site office because its closer to where we currently live. This is when I found out that my unit became an open space and that they were moving me to a new unit near the clubhouse. I was force to call customer service, because the on site office could no give me a new completion date and why I was being moved. What I got from customer service after waiting more than one hour on the line? The lot where they relocated me will be finished MAYBE 2015 or 2016.
Feb. 5, they sent me an email, saying that they moved me because my old unit was now an open space, for them to be compliant with HLURB. Now I starting to get pissed off, so I replied to the e-mail telling them that I was one of the early buyers and even paid diligently, by issuing post dated checks for the 30% down and a final check for the 70% balance, which all of them were drawn except for the last check. In the end I just decided to accept what happened and wait again.

Nov. 26, 2014, I recieved a final demand letter, telliing me that I remained in default in my monthly amortization for 36 months due on Nov. 2011 to Nov.2014, and told me to settle the remaining 70% outstanding balance. WTF???!!!! So I called customer service and explained to them what I told them in my email early Jan 2014, that I've already issued checks and the only thing not drawn from my bank was the last check for the remaining 70% balance. I even told them that I'm willing to issue a new one if need be. And besides why are they demanding full payment when the unit hasn't been build yet since they moved me to a new one. In the end they told to just ignore the letter, since the Blk and Lot number in the letter was the old one.

Feb 6, 2015, I received noterized, notice of cancellation and forfeiture of my contract. That was the last straw, so went to Eton main office, mad and pissed and asked them what the **** is going on! They directed to to a peson name Des, since the regular customer service staff could not answer me. If I remember correctly ( I was really mad at that time), they told me that it was the cancellation of my original contract since it was already an open space and that I new contract needs to made. Why the hell did they not tell me earlier to come to their office to sign a new one? I don't know. I was on the verge of just cancelling, but in the end I realized that, I've already invested time in this thing, and besides it's the ideal location for me. And we still have a place to stay, my parents house has vacant rooms. So I agreed on a new contract, but I choose a different unit, a corner I liked which was still available. It will take bit longer, but at least it's a location I liked a lot (We visited the site before I chose the unit). I believe they started construction December 2015.

Jan 2016, finally!! the build started.

Jan 21,2016 After visiting a Lincoln model house, we saw that the Living/Dining/Kitchen area, was too small for us, so we decided to plan a few modification after our house is built. This would require removing the maids room and putting the kitchen there. To make this a lot easier we asked the on site office if it's possible to not install the maids room doors/wall and kitchen counter so we can move the kithcen there after the turnover. They said non installation of items inside the house should be fine as long as we get approval from the main office. Sigh.... back to that hell hole again. At the main office, they told us we have to wait at least one month before we know if our request will be approved or not. I argued that the house is being built as we speak, and I'm worried that by the time the approval arrives the said items would have already been installed and asked if there was a way to speed up the process. Des again talked to us and told us that as long as there is a pending request, the contractor wont install it. I asked her if the site will be informed about our request, she said yes. Now not trusting Eton anymore, we went to the site again after a week to check whether they receive the request we made, well guess what, no request was received, so we asked on site office if they can delay the installation of the maids room/wall and kitchen counter, they said that they can delay it and told me to do a follow up of my request in the main office.

Feb 15-16, after several attempts at contacting customer service, we finally got through and asked for the status of our request. They told me, they will email me the next day.

Feb. 17, no email, called them again, talked to Des this time, she promised a response within the day. We got the response, it was a no, citing specifications and terms of reference will not allow it.
Sigh....They could have just told that from the start. Gues, I'll just wait for it to finished and do the modifications then.

P.S. After goin through all those troubles they couldn't even approve a simple request, which will be torn down anyway after the turn over.
Sorry to hear that. Unfortunately, you already purchased the property. I hope the management can protect your interest as a buyer. This case is so common, they promised a lot of stuff to us then, after we diligently pay evrything, they f*cked us up. Like after they get our money, we are left somewhere.
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Old May 6th, 2016, 12:16 PM   #154
klenkleng123
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Quote:
Originally Posted by ethanbawasanta View Post
Pag gnyan ba pwede lumipat ng parking slot if may available?
Dapat pwede. Magfile ka ng incident report kung bakit kailangan imove.
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Old May 10th, 2016, 05:10 AM   #155
ethanbawasanta
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Quote:
Originally Posted by klenkleng123 View Post
Dapat pwede. Magfile ka ng incident report kung bakit kailangan imove.

Like for example ung kay quest_uy. Sobrang dikit daw sa wall, hindi na mabuksan ung pinto. Hassle naman. Sa turnover ba ng parking slots, pwede pumili?
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Old May 21st, 2016, 06:32 PM   #156
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Guys i already payed 4 times para sa deferred payment until now wala pang receipt at contract to sell na binibigay si alveo para sa unit ko here in vertis north. Ano po ba ang magandang course of action kasi lumalabas wala kaming proof na nagbayad kami since wala kaming contract to sell and official receipt. Pag tumawag ka naman sa kanila call center agent lang ang sumasagot at wala naman nangyayari sa follow up , yung broker naman na nakuha namin matapos makuha yung commision pinabayaan na kami...
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Old May 21st, 2016, 09:21 PM   #157
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Originally Posted by rafaelluis15 View Post
Guys i already payed 4 times para sa deferred payment until now wala pang receipt at contract to sell na binibigay si alveo para sa unit ko here in vertis north. Ano po ba ang magandang course of action kasi lumalabas wala kaming proof na nagbayad kami since wala kaming contract to sell and official receipt. Pag tumawag ka naman sa kanila call center agent lang ang sumasagot at wala naman nangyayari sa follow up , yung broker naman na nakuha namin matapos makuha yung commision pinabayaan na kami...
How do you pay them? By cash, check or bank transfer? Who received these payments? Some developers issued contract to sell after paying 20% of the equity. Dapat meron kasulatan on the terms of payments meron kasi developer na manloloko. Pagkatapos mo magbayad ng 20% or 30% babaguhin nila yong terms of payment sa contract to sell. Worst pababayaran sayo yong 80% after paying the 20% kahit wala pa yong unit. Meron developer na ganon kaya mag-ingat ka
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Old May 22nd, 2016, 02:14 PM   #158
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Quote:
Originally Posted by snowee View Post
How do you pay them? By cash, check or bank transfer? Who received these payments? Some developers issued contract to sell after paying 20% of the equity. Dapat meron kasulatan on the terms of payments meron kasi developer na manloloko. Pagkatapos mo magbayad ng 20% or 30% babaguhin nila yong terms of payment sa contract to sell. Worst pababayaran sayo yong 80% after paying the 20% kahit wala pa yong unit. Meron developer na ganon kaya mag-ingat ka
Ayala land yung kinuha ko , alveo subsidiary . Yung naka name sa check is nakapangalan sa developer but naka 4 payments na ako wala paring contract to sell at receipts...paano kaya ang dapat gawin ? Every week na ako nagfollow up wala parin . Nakakainis na...
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Old May 22nd, 2016, 03:37 PM   #159
snowee
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Quote:
Originally Posted by rafaelluis15 View Post
Ayala land yung kinuha ko , alveo subsidiary . Yung naka name sa check is nakapangalan sa developer but naka 4 payments na ako wala paring contract to sell at receipts...paano kaya ang dapat gawin ? Every week na ako nagfollow up wala parin . Nakakainis na...
Malabo yong sagot mo. Did you give them PDCs in one time? Or every month you go to their office and pay your check?
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Old May 22nd, 2016, 04:45 PM   #160
azumiii
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kunin mo sa opisina ng Alveo yung receipts. Kulitin mo agente.
__________________
In business terms, assets are your pros and liabilities are your cons. You need assets to offset your liabilities.
The simple definition of an asset is something that puts money in your pocket. This is accomplished through four different categories, one of which is real estate. When I say real estate, I don’t mean your personal residence, which is a liability. What I mean is investment real estate, which is a great investment because it puts money in your pocket each month in the form of rent. -RK
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