Home
A developer sold us a property which we later found out that it was already loaned to PAGIBIG. The original buyer of the lot did not continue the payment. We called PAGIBIG and they told us that the developer should buy it back from them first before we can acquire the property.
Details are the following :
a. The Developer put the date that the Contract to Sell was executed on January 2014 however we paid a down payment of 100,000 pesos last January 2013 and continued to pay the monthly amortization of 28,000 pesos (through BDO post dated checks) up to May 2013. The total payment we made was 240,000 pesos. The lot cost 452,000 pesos.
b. We wrote a letter to the developer that we are holding the payment until they could find an alternative lot for us. All the lot they are providing as an alternative have adverse claim from his partner (which is the original lot owner).
With this circumstances, is it possible to get a full refund? Can the developer argue that he cannot give a full refund because he has no money to do so? What legal action can we take?
Thank you very much in advance for your help.
Details are the following :
a. The Developer put the date that the Contract to Sell was executed on January 2014 however we paid a down payment of 100,000 pesos last January 2013 and continued to pay the monthly amortization of 28,000 pesos (through BDO post dated checks) up to May 2013. The total payment we made was 240,000 pesos. The lot cost 452,000 pesos.
b. We wrote a letter to the developer that we are holding the payment until they could find an alternative lot for us. All the lot they are providing as an alternative have adverse claim from his partner (which is the original lot owner).
With this circumstances, is it possible to get a full refund? Can the developer argue that he cannot give a full refund because he has no money to do so? What legal action can we take?
Thank you very much in advance for your help.
