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Hi! I just need advice. I am trying to transfer my loan to the bank. It is currently with a condo developer (in-house financed). My loan with the bank is already approved and they already issued the developer a letter of guarantee.
I thought all is well until I received the registration fees that the developer is charging me. Aside from doubling it, the fees is way over what is published by the registry of deeds-as in more than times 3!!! They also have this "protocol" of asking the buyer to pay twice the amount of their registration fee as "security money" for in case the bank will not pay them and the condo title is already transferred to the name of the buyer.
To give you the numbers, they are asking me to pay php280,000 transfer fees for a 48sq.m. unit!! In my computation, it should be php130,000 and that's double the amount already.
Now, they are already asking me if i will be pushing throught with it. I honestly do not have that money but I want to know if I am in a good position or should I say this could be considered a valid complaint to HLURB. I firmly believe their fees and the lack of transparency of what they are charging is unjust and unfavorable to a buyer like me.
I thought all is well until I received the registration fees that the developer is charging me. Aside from doubling it, the fees is way over what is published by the registry of deeds-as in more than times 3!!! They also have this "protocol" of asking the buyer to pay twice the amount of their registration fee as "security money" for in case the bank will not pay them and the condo title is already transferred to the name of the buyer.
To give you the numbers, they are asking me to pay php280,000 transfer fees for a 48sq.m. unit!! In my computation, it should be php130,000 and that's double the amount already.
Now, they are already asking me if i will be pushing throught with it. I honestly do not have that money but I want to know if I am in a good position or should I say this could be considered a valid complaint to HLURB. I firmly believe their fees and the lack of transparency of what they are charging is unjust and unfavorable to a buyer like me.
