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FRAUDULENT REAL ESTATE DEAL

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1 FRAUDULENT REAL ESTATE DEAL on Wed Feb 15, 2017 1:57 pm

mettawp13


Arresto Menor
My uncle offered me and my husband a lot from a small subdivision he developed. He said that we will loan the construction of the house thru pag-ibig. Before agreeing, we made sure that we don't need to put any money down because we don't have budget for the construction of the house yet. Otherwise, we will just buy the lot from him and we will build the house little by little whenever we have a budget. He said we have nothing to worry about because he will take care of it. We finally agreed since he gave us the assurance that there will be no money down. Then the construction began and I had all the necessary documents for pag ibig sent out to him He also said he will help me with the application. He said that knows someone from pag ibig who will help him expedite the application, and that in a matter of 3 months the loan will be released.

When I went home to the philippines, the construction had already started. We decided to get 2 lots. Then my uncle invited me to his house saying that the contractor of the house wanted to meet me. I was surprised to know that we have a contractor. To add to my surprise, these contractors are asking for 900k down payment in full!!! And he also showed me a contract. Our initial agreement is no money down, and he never discussed with us about these contractors and the down payment they're asking.

Before signing the contract I told them that I can't pay them the 900k they're asking for. However, upon reviewing the contract, there was a mistake that the contractor found.( i think it's a date of when the contract was made). My uncle said he will make a new copy and have me sign the revise copy. But he never did, nor did I get a copy of the one or myself.

The contract was not even fulfilled since the contractor decided to stop the construction of the house. And I decided that it should be stopped too. Then we just agreed to pay the contractors the amount they have spent whenever we have the fund. My uncle also agreed to it. He said that after we paid off these contractors, that's when we can start paying him with the lot.

We were not able to pay for a couple of months due to financial problem (mother-in-law diagnosed of cancer and we had to help pay the bills). When we finally able to give payment, they said its not enough and we still need to pay for the interest which they stated was on the contract. However, we were never informed that this was the case. BTW, the construction only lasted for one month, and they said they spent a whooping 2.5 million pesos and not including the lot. However, the house was not even close to being inhabitable. water, electricity, plumbing were not all set up.

He permitted my parents to move in, but in order for them to do so, we had to spend money for the plumbing, water and electricity. Now my uncle wants to evict them since we were not able to pay them the amount they wanted. HE said that he will pay us back for all the money we invested. However, my parents do not want to move out unless they are reimbursed for the money that were invested in the house.

I WOULD LIKE TO KNOW WHO IS IN THE RIGHT. ARE THERE ANY LEGAL IMPLICATIONS THAT WILL GET ME INTO TROUBLE?

Thank you so much in advance for taking time to read my long post.





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2 Re: FRAUDULENT REAL ESTATE DEAL on Wed Feb 15, 2017 8:58 pm

Lunkan


Reclusion Perpetua
mettawp13 wrote: And he also showed me a contract.
??? Signed by who?
mettawp13 wrote: Our initial agreement is no money down,
well. If YOU SIGN a contract that overrule what's agreed in talk.
mettawp13 wrote: Before signing the contract I told them that I can't pay them the 900k they're asking for.
??? Did you SIGN something you DIDN'T agree to?
mettawp13 wrote: The contract was not even fulfilled since the contractor decided to stop the construction of the house.
That's NOT odd because he wasn't paid...
mettawp13 wrote: We were not able to pay for a couple of months due to financial problem (mother-in-law diagnosed of cancer and we had to help pay the bills). When we finally able to give payment, they said its not enough and we still need to pay for the interest which they stated was on the contract. However, we were never informed that this was the case.
??? But you signed the contract. Everyone are suppoused to READ contracts BEFORE signing, so if the contract tell interest, then you are informed in legal point of view,
That's why NEVER sign anything before checking it proper.
mettawp13 wrote: BTW, the construction only lasted for one month, and they said they spent a whooping 2.5 million pesos and not including the lot. However, the house was not even close to being inhabitable. water, electricity, plumbing were not all set up.
Well. I can't judge if that can be corect by I don't know size, quality and location, but many houses cost like that to build.
mettawp13 wrote:
He permitted my parents to move in, but in order for them to do so, we had to spend money for the plumbing, water and electricity. Now my uncle wants to evict them since we were not able to pay them the amount they wanted. HE said that he will pay us back for all the money we invested. However, my parents do not want to move out unless they are reimbursed for the money that were invested in the house.
What does your uncle say about that?

A Compromise solution idea can be to let your parents stay there paying "rent" which is deducted from what you have paid until all are paid back. But then you will not own any house.
mettawp13 wrote: I WOULD LIKE TO KNOW WHO IS IN THE RIGHT. ARE THERE ANY LEGAL IMPLICATIONS THAT WILL GET ME INTO TROUBLE?
You are probably in trouble by you signed that contract. Some depending of what the contract say,
but almost sure there is a legal right to take and FORECLOSE your property. If that's done, you have 1 year to pay to get it back, BUT then will the cost be higher than the debt you have now. In such cases the owner mostly LOSE the paid money (It depend of how much buyer pay.)

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3 Re: FRAUDULENT REAL ESTATE DEAL on Thu Feb 16, 2017 3:52 am

mettawp13


Arresto Menor
Hi thank you so much for your reply.
I am not sure who else signed the contract for there was an error in the content. And he said he will revise it and have me sign again. But he never did.Since the signed contract has an error, will it still be valid?

I did not have the intention of owning that house anymore because I don't feel comfortable at all especially we started off with big misunderstanding. Him making decisions that we are not aware of.

And I really don't care about that house anymore. All I want is that they give us reimbursement of what we spent for that, which he promised he will. And also during the construction, my uncle was also building his house but he was taking away materials that were supposed to be ours.

My dad was the one managing the construction, and that he has all the receipts of the materials used for the construction. THE house was just basically a wall and a roof. Thats it.

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