Megaworld No Refund Policy

Hi

naginvest ako ng condo sa megaworld sa newport villamor airbase yung condo turnover 2013 dec.
ngayon nagkaproblema ako financially.. gusto ko sana marefund ung nainvest ko but hindi lahat of course hindi ko naman makukuha ng buo ung nainvest but its okay with me.. pero nung nagconsult ako sa kanila.. may policy daw sila at nakasaad sa contract na no refund policy.tama po ba yun? na kahit nagsign ako ng contract na without my knowledge na hindi sila nagaaccept ng refund.? 2 yrs na ako nakapaghulog thru inhouse. ano po ba ang karapatan ng isang buyer kapag naginvest sa condo? at dapat po ba ang contract is favor lahat sa isang developer? at walang karapatan o protection man lang ang buyer sa isang contract? ano po ba ang maari kong gawin dahil lagi nila sinasabi na hindi nagrerefund ang megaworld. tama din po ba sa isang contract na walang man lang protection ang isang buyer pagdating sa refund?.

maraming salamat po.

can you quote the provision in your contract?

friends, i also have the same problem as Melvin's, regarding no refund policy. Mine is with Filinvest concerning a property in One Oasis Davao City. in my case, I have paid in full the 10% downpaymen as cash, instead of installment, and yet they did not give me a clearance to move in despite paying all the necessary additional charges, ie move in fee, fire extinguisher fee etc.. When I wanted to withdraw my account, they told me about no refund policy and that they are protected by the MACEDA law. From the clerk to the Vice president and even legal department, this was the answer i got. But after several discussions with them, they finally gave me a refund, but they did not return my move in fee,and the fee for the fire extinguisher, and the installments of the past months. In summary, I paid, almost 300,000 php plus to them, and they returned nearly 170,000 and they required that I return all the receipts to them, and then asked me to sign a waiver that I recognize them having no more obligation to me after getting the 170,000. So last year, I felt I was Santa claus giving early and extended christmas gift to Filinvest. I believe real estate sellers are preying over middle income and low income families. So i would encourage other people victimized by this "no refund policy" thing. Is it really legal? or just a legal presumption and can still be questioned in court. by the way, i would assume Melvin doesnt have a copy of their contract, so did I. Kung marami po tayo, bakit di natin pagisahin mga utaknatin at butingtingin ang mga contrata ng real estates. I happened to know another family who could not withdraw from the contract. I withdraw because they could not meet their promises. I was paid in advance, and then they hid behind Maceda Law. Tama po ba yun?

what the maceda law states is that you are entitled to a 50 percent refund if you have paid at least 2 years worth of installments. if not, you can be given a grace period of 2 months without penalty.

We all have the same issue, the MACEDA LAW REFUND. I guess really the right question is that, what is the process? what is the first step. I believe to get a lawyer. Anyone of you out there who can refer me a good lawyer?

Thanks

Hi ,

any update in this thread? Did you get your refunds?

I just learn about maceda law recently, the law basically protect the buyer. I also decided to backout my account to Megaworld and currently i'm appealing for a refund. The same as your cases, they told me about their 'no-refund' policy indicated in the contract.

I'm using maceda law as my card. hope it went well.

Hello po,

1. What is the reason for backing out?
2. Has th developer written that your account has been canceled and all payments forfeited?
3. Did you write to the developer regarding your refund?
4. Did you pay more than 2 years of installments?

Pls go to HLURB and given them copies of your contracts, correspondence, etc, together with your letter. They will send a letter to the developer for a meeting with you at HLURB. Hopefully it gets settled there before going to court.

Cherry Pie wrote:
We all have the same issue, the MACEDA LAW REFUND. I guess really the right question is that, what is the process? what is the first step. I believe to get a lawyer. Anyone of you out there who can refer me a good lawyer?

Thanks