REFUND FOR EQUITY DOWN PAYMENT

Hello po, mag seek lang po ng advise. Asked ko lang po kung posible po bang makakuha ng refund sa developer para sa mga nabayad namin ng asawa ko sa equity ng isang house & lot. Naka Pre-Selling yung nakuha namin na property and after 2yrs po na installment payment ng equity ay dun palang itatayo ang bahay. Nakapagbayad kami for 4 consecutive months, but unfortunately yung pang 5th month na, we decide to cancel it since di na namin kaya ihandle financially. possible po kaya na may makuha kami kahit half ng na-down namin since wala pa naman nasisimulan gawin sa construction ng house. Thanks po.

check your contract pero most probably wala kayo makukuha.

Good Morning.

My name is Rosana and want to seek legal advises about a property I paid full equity but the contract was cancelled by the Developer.

I've talked to the Developer and asked for a refund but they're only willing to give 60% of the total amount of the equity paid. The Reservation is also deducted. They refused to provide me an itemize computation on how they come up with the 60% computation.

Please see summary below;

1. Year 2009, when we started paying the Equity for the Unit B3, L25.

2. Upon our first agreement, when 80% of the equity is paid, unit should be now be ready for construction. However, the unit was not built due to location and equipment issues. They offered different unit instead.(Blk 9 Lot 5)

3. I've attended 2 PAG- IBIG seminar and provided all necessary documents as requested by the Developer.

4. 6/13/11 Equity was finished/ Construction of the new unit is not yet done.

5. Year 2012 and the unit is still not available.

6. Requested Immediate construction (January 2012). We visited their office and agreed to move in with the developer's condition to pay 5,000 pesos cash during our stay in the unit while the loan is being processed.

7. May 2012 the developer sent an email. An agreement of my move in and me providing a postdated Cheque. . I signed the contract with the exception to revise the section which I'm required to provide post dated cheques. Since that was not part of the agreement last time we talk.

8. Months past and I haven't heard anything back form the developer.

9. 2015 after my miscarriage and successful birth, I visited again the unit, and to my surprise it is still not ready. However, I noticed that a Gate was constructed which is not part of our agreed contract. Found out that the unit is already offered to a different buyer and our contract got cancelled.

10. Visited their office. They snail mail the cancellation notice July 2012 to my previous Employer,not even to my permanent address.


Cancellation reason sent:

- 1. failure on your part to pay installation on the down payment/equity/processing fee as herein stated

-2. Failure on your part to submit required documents to support your loan applications.

- 3. Withdrawal on your part from the agreement on whatsoever.



11. I tried to settle things out, They offered another unit but different pricing and I have to wait again for the construction of the said unit since it is not RFO. (Declined the offer and requesting for a full refund instead) = They Refuse.

12. I checked with HLURB. They applied for LTS 1994 but HLURB still could not find a record if it was approved.

My Questions po are.


1. Will there be an issue if ever na mag pursue ako ng legal action ang date? since matagal na po sya and now ko lang maasikaso!?



2. Pwede po ba ako mag demand ng full equity refund!? (as per PD 957 section 23?) Since technically hindi nila na provide ung unit in a timely manner!???



3. Is it a valid refund they're offering? \



I'm really thankful in advance that you took time in reviewing this concern. I hope you could help me po. Hope to hear from you soon.



Thank you so much.



Rosana