AN INTRODUCTION - HOW TO BUY A CONDOMINIUM

Hello everyone

Welcome to a new site to keep people aware of the dangers of buying condominium units in the Philippines.  Empire East Land Holdings Inc, is a large developer who follows unscrupulous practices to fool the public, and to deceive them.  A developer who ignores the laws of the land in the interests of corporate greed.

Hopefully, these tips below will help people avoid the pitfalls of dealing with developers and the unscrupulous practices engaged in selling condominium units.

BEFORE BUYING

Check the condominium project/development has a License to Sell and a Certificate of Registration.  These are issued by the Housing and Land Use Regulatory Board (HLURB), and can be verified either by searching on the internet using the following link http://hlurb.gov.ph/online-inquiries/ or by ringing the Information and Communications Technology Division of HLURB on 9272731.

Alternatively, you can find out projects/developments that have been issued Cease and Desist Orders from selling or advertising.  Use the following link http://www.hlurb.gov.ph/ then cursor down to the bottom of the page and click which ever region you come under.  For the ENCR region, just use the following link http://hlurb.gov.ph/uploads/license-sell/projects-with-cdo/CDOENCR.htm

Check the site of the development itself, see if there may be problems with flooding, erosion, landslide etc.

If the project is covered with a License to Sell, check with the developer the date of completion of the project.  This is actually on the License to Sell, and should be complied with by the developer.

If the property is mortgaged, it should have a Clearance to Mortgage from HLURB.

Facilities and amenities shown in any advertising should comply with the approved condominium plan on file with HLURB.

WHEN BUYING

Check if broker/agent is registered with HLURB or DTI.

Verify property has not been sold to other buyers through Register of Deeds.

If paying by amortization scheme, make sure you can afford the payments.  Remember, you may be paying for your unit for many years.

Check that materials of the condo unit conform with the development standards and approved construction specifications submitted to HLURB.

Check whether developer pays for the water and electric meters etc.

Check who would eventually operate the condominium water system.

BEFORE SIGNING THE CONTRACT TO SELL

Don't sign any blank form of the Contract.

Read thoroughly the Contract, especially terms and conditions.

Secure a copy of the Contract and any other documents that you have signed.

Make sure the Contract is registered by the owner/developer with Register of  Deeds.

Ask for official receipt on all payments made for your unit.

WHEN ACCEPTING A CONDOMINIUM UNIT

Inspect the unit and check it complies with approved plan and agreed specifications.

Check promised facilities and amenities as advertised are completed.


DO MAKE SURE YOU FOLLOW ALL INSTRUCTIONS BEFORE BUYING.  AND CAREFULLY READ THE CONTRACT TO BUY BEFORE SIGNING.

From my experience with Empire East Land Holdings Inc, I would also check the following:

Is there a residents association?  Am I a member? 

Who governs or runs the condominium site?  Is it an association, managment company or the developer themselves who run it?

Are there association fee's, and how much are they?

Are there additional fee's for any other amenities or facilites on site?

What are the rules and regulations on site?  Please read all paperwork before signing your contract in particular Master Deeds, Bylaws, House Rules etc. 

Watch out for miscellaneous fee's.  These are added on by some developers, and in the case of Empire East used to blackmail you to get your "Title of Ownership" or CCT as its known.  So always check with the developer on CCT and how quick they will process it.

For those people buying on a presell basis, please be aware of the dangers of delayed handover as developers fail to meet handover dates.  Ensure that you have it in writing when the developer will complete handover of your unit.

NEVER FORGET, THIS IS ABOUT YOUR LIFE, YOUR FAMILY, YOUR FUTURE AND ITS YOUR MONEY, SO MAKE SURE THAT THE DEVELOPMENT AND THE DEVELOPER ARE WORTH YOUR INVESTMENT.