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buying a model house and lot

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1 buying a model house and lot on Mon May 08, 2017 6:32 pm

analatorre


Arresto Menor
I acquired a "model" house and lot. Already paid 30% of the total amount of 3.2M. Upon receipt of the contract to sell, it was only amounted to 2.6M which is the amount of the unit and the 600k as their charge for the modifications was not included in the cts (i.e. furnitures, fixtures and landscapes but I doubt, it wont be the the total cost of those). I am still waiting for the approval of the Bank Financing. Now, my questions po, are there any violations committed by the real estate by not declaring the real amount of the unit? Or should I demand a receipt on the amount they charged in the modification of the unit? Hope I can receive answers from you real estate lawyers. Thanks po.

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2 Re: buying a model house and lot on Tue May 09, 2017 11:35 am

betchay001


Reclusion Perpetua
What is usually placed in the contract to sell is the total contract price of the land and the improvement. In your case I am assuming that since the model unit is already a souped-up version of the regular house and lots, there are charges associated with it, which they separated from the CTS. Did you get reservation documents that state that the total price of the house and lot was 3.2M? It may be better for you to ask the developer why the 600K was not included in the CTS.

Yours is not a rare occurrence, but it would be best to get answers from them first. Though the implication of it is in the taxes to be paid to BIR when title transfer commences.

You cannot demand a receipt for something you have not paid for yet, so the developer will not issue you one.

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3 Re: buying a model house and lot on Tue May 09, 2017 10:32 pm

analatorre


Arresto Menor
Yes Ma'am, I received a reservation document that stated 3.2M and that includes the modifications. But to my surprise, it was not stipulated in the cts. Since I cannot demand for the receipt of the modifications (which is really true that I havent paid for it yet), Di I have the roght to request for reappraisal?

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4 Re: buying a model house and lot on Tue May 09, 2017 10:34 pm

analatorre


Arresto Menor
Thank you very much

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5 Re: buying a model house and lot on Tue May 09, 2017 11:46 pm

Lunkan


Reclusion Perpetua
Real estate need to be separate from
furniture of tax reasons.
(While PERMANENT mounted things as for instance some refrigirators can be counted in the real estate.)
analatorre wrote: Di I have the roght to request for reappraisal?
I suppouse you got a SPECIFICATION what's included when you agreed to the price.
If they have delivered all agreed, then they have made their part.

They DON'T need to show you how much they paid, because they have right to ask ANY price from buyers. Then it's up to the buyer to agree, negotiate or skip. You have allready agreed...

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6 Re: buying a model house and lot on Wed May 10, 2017 11:29 am

analatorre


Arresto Menor
thanks for the reply Lunkan.

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