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refund of fully paid downpayment for a property

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Francisargente


Arresto Menor
sana po ay matulungan nyo ako sa problema ko.

kumuha po kasi ako ng isang house and lot. nakapagbayad na o ako ng equity/downpayment worth 300k+ which i paid for 15 months. tapos na po ako sa payments ko last march 2010 pero wala pa po nasisimulan sa bahay na kinuha ko. gusto ko sana i-refund ung binayad ko kasi more than a year na po yun pero hanggang ngaun e wala pa din nagagawa. pede po bang i-refund ang pera ko at ano po ang dapat ko gawin. salamat po.

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attyLLL


moderator
you are allowed to suspend payments by serving notice to the developer. if they refuse to give a refund, you'll have to file complaint at the hlurb:

Section 23. Non-Forfeiture of Payments. No installment payment made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favor of the owner or developer when the buyer, after due notice to the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same. Such buyer may, at his option, be reimbursed the total amount paid including amortization interests but excluding delinquency interests, with interest thereon at the legal rate.


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Chodov


Arresto Menor
attyLLL wrote:you are allowed to suspend payments by serving notice to the developer. if they refuse to give a refund, you'll have to file complaint at the hlurb:

Section 23. Non-Forfeiture of Payments. No installment payment made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favor of the owner or developer when the buyer, after due notice to the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same. Such buyer may, at his option, be reimbursed the total amount paid including amortization interests but excluding delinquency interests, with interest thereon at the legal rate.

If I chose to be reimbursed the total amount because of the developer's failure to develop the condo according to the approved plans, is there any grace period for the developer to refund the funds to the buyer? Or must the funds be returned immediately?

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vhoungskie


Arresto Menor
i have a similar situation.. we have a scheduled event this coming December 3, 2013.. We had an initial payment of P102,000 last July.. but due to some unexpected turn of events, we have to cancel the event and i called the place to ask for a refund.. but they said it's not refundable and it was stated in the contract.. can i file a complaint against them??

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honey15


Arresto Menor
I also have similar concern, commercial space rental naman, my land lord refused to refund my 3 months security deposit and 3 months advance payment and alos refused to received my lettterrequesting for the refund and or apply the total advance to my rental fee for the next 6 months, because I was not able to complete the 2 year contracts and stayed only for 2 months and my advances will be forfeitted. Please advise if there's any law int he Phils that protects the lessee. thanks

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Atty.Melki


Arresto Mayor
I believe attyLLL already gave you the correct advice.

As for your follow up question, that would depend on the results before the HLURB. After that, if you are unsatisfied, taas ka sa bureau then the Office of the President.

Throughout these stages, you and the condo developer may talk it out and agree on a settlement.

Chodov wrote:
attyLLL wrote:you are allowed to suspend payments by serving notice to the developer. if they refuse to give a refund, you'll have to file  complaint at the hlurb:

Section 23. Non-Forfeiture of Payments. No installment payment made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy shall be forfeited in favor of the owner or developer when the buyer, after due notice to the owner or developer, desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium project according to the approved plans and within the time limit for complying with the same. Such buyer may, at his option, be reimbursed the total amount paid including amortization interests but excluding delinquency interests, with interest thereon at the legal rate.
If I chose to be reimbursed the total amount because of the developer's failure to develop the condo according to the approved plans, is there any grace period for the developer to refund the funds to the buyer? Or must the funds be returned immediately?

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7 help po re: condo refund on Sun Sep 08, 2013 2:59 am

Lenggot13


Arresto Menor
bumili po kami ng sister ko ng tig-isang unit maliit na condo sa QC nung 2001,cash ko po binayaran & naka-2 gives naman ang ate ko.sabi po kc in 2yrs time gawa na un condo.umabot ng 2004 po ata na hindi pa gawa ang unit namin kaya nagsabi kami na icancel o refund na lang po.pero hindi sila pumayag at sabi na lang na patransfer kami sa ibang unit na gawa na,pinagawa kami ng letter of request at nagrant naman po.kaso po after na nailipat na un name namin dun sa ibang unit saka lang sinabi na we need to pay another P75k/unit.hindi po kami pumayag kasi  wala naman silang sinabi na ganun before kami pagawain ng request letter to transfer.last punta po namin sa office ng realstate co last 2011 at nagsabi po ulit kami na parefund na lang nga.kaso po parang ayaw na kami asikasuhin kc nga gusto namin parefund.kaya po umabot na hanggang ngayon..ang tanong ko po,may possibility paba na makarefund kami at ilang % pa kaya.sinagot po nila ang tanong ko tru email re refund kaso po maceda law installment po un..wala po kaming alam tungkol dit0,OFW po kami nun time na yun kaya limited lang ang financial.i hope you can help us.thank you & God Bless..

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