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Refund of deferred payment of house and lot

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1 Refund of deferred payment of house and lot on Sun Jun 22, 2014 3:17 am


Arresto Menor
Dear sir,
I had a deferred payment type of contract with one unit of Camella communities developer and have already paid 80% of the total contract price. According to our contract, they will start building the house when 50% of the total price is paid and can transfer and take the house and lot unit after 75% of total payment. We took the contract which they gave us on a preselling period last October 2012,and two years have passed but the site still was on a land filling and flattening stage (they don't have workers and stopped construction for several months while all buyers are continously paying).

If I will wait for the project to finish like this then I have to wait for 2 years more(considering the road constructions,electricity installations,water line connections and house construction). Im about to be finished paying this October 2014 and would like to ask you on what action would I take to have a full refund of my hard earned money.

Thank you in advance.

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Arresto Menor
your legal advice on this matter please as i have similar scenario. thanks!

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Reclusion Perpetua
when you say refund, u mean u will cancel the sale,, right?
yes, then
if the contract clearly details the arrangements, and they clearly violates/breach the contract, you have the right to forfeit the contract.
but then again, the first step is talk to developers, you will learn what are the penalties if ever you will cancel the transaction, given the fact that they are the ones who breach the contract.
that is the real score... so di mo makukuha lahat pera mo,
but the bottomline is you're fed up, can not wait anymore, and no option but to buy out of contract, so go.. talk to them first,

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Reclusion Perpetua
Have you talked to the developer?

If they aren't reachable or don't give any satisfying reason, I'm afraid it's a developer scam again Evil or Very Mad
Or they are incompetent, then there is a better chance to get some of the money back.

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