Migs and Alaine

Chronicles of a Happy Married Life

Let’s End Real Estate Fraud: Revise Presidential Decree 957 Section 5 in the Philippines

When we got married last 2012, we promised ourselves that we will buy our first home before our 5th Wedding anniversary so we can finally have a child. Sadly, our dream of moving to a new house this year will no longer come to reality because we found out that our Developer only secured a license to sell last January 2016…months after we started paying our house equity.

A lot of people sent us an emails telling us how sorry they are for what happened. Some sent us well wishes, offered legal help and others shared similar horrible stories. There was even one person who actually lost millions from a Developer. Here’s our story: http://www.migsandalaine.com/index.php/2016/01/31/our-response-to-harvard-multiland-realty-corporations-demand-letter/#comment-1310.

It’s a nightmare and we wouldn’t want this to happen to anyone. One of your family members, relatives or friends may become a victim of a Real Estate fraud. Help us protect future home buyers by signing the online petition that we started. Our goal is for our lawmakers to hear our call in amending The Presidential Decree 957.

The Presidential Decree 957 was supposed to protect the consumer from fraudulent activities by land developers. But wait, there is something wrong with this law.

P.D 957 section 5Such owner or dealer to whom has been
issued a registration certificate shall not, however, be authorized to sell any
subdivision lot or condominium unit in the registered project unless he shall have
first obtained a license to sell the project within two weeks from the registration of
such project. ‘

If a developer/owner has been proven to be selling units without these proper documents, they will be subject for penalties and the license will be revoked.

However, it does not say anywhere in PD 957 that the “Contract to Sell” will also be null and void, therefore the developer can keep everything(money) that the poor buyer paid even if he demands for a refund.

Now the poor victim is left with a law that only protects the fraudster.

If we can all come together and convince those who are in power to revise this Presidential Decree, it will definitely help hundreds of victims and will also help prevent future fraud activities.

Please sign and share this petition: https://www.change.org/p/congressmen-senators-president-hlurb-revise-presidential-decree-957-section-5-in-the-philippines?recruiter=485148762&utm_source=share_petition&utm_medium=copylink.

 

 

19 Comments

  1. Sadly in India this is too common. Finally the courts have stepped in and taken some strict actions against a these builders and developers who take people and their savings for a ride. Hope u get out of this faster than you think

  2. Oh, that is awful! I wish you all the best and I hope you will manage to recover the damages. Don’t you ever lose hope, fight for your rights!

  3. Such an interesting topic and post! Thank you for sharing your knowledge and perspective

  4. This is good. From your experience and wishing no one ill, posting this is yet another reason why resources abound on the internet for other would be buyers to search for and read and be warned.

  5. A very bold step to speak out loud ! Keep it up !

  6. Oh my. My parents also experienced the same thing. They paid the property for almost 4 years, then they were informed that the land was already bought by the portofino:( They did everything but the develepor was already gone!

  7. Unfortunately these bunch of money suckers wont stop until someone make the move light a hot fire under their asses. It must have been pretty frustrating to find that out because we don’t dump money, it´s hard earned money.

  8. This is a very informative postI wasn’t aware that such a loophole exists in the mentioned P.D. I hope that more attention will be focused on amending it

  9. Are you still going after them? If I remember it right, a few years ago there are also problems encountered by buyers with Lancaster Homes in Cavite. They even created a fb group. I hope you’ll still get a refund.

  10. I would sign the petition but unfortunately I don’t in the same country as you so it’s not possible, but I hope you get the right amount of signatures to make the changes happen. It’s honestly terrible when you’re trusting someone and they are fraudulent! Even though there are the laws in the uk to prevent this from happening people still do it and it takes so long for their money to be refunded. I read your other post you linked above and wish you the best of luck on getting your money back!

  11. That is so horrible! I wish you all the best and to get a lot of signatures! xx

  12. Oh my! I never thought such thing happens. Thank you so much for this post. This is very helpful esp to those people who are looking forward to buying a new house. I’m currently signing the petition because a “no refund” policy is totally unfair, and i am so against unequality.

  13. wow I didnt know that something like this is happening.. Thank you so much for this post

    airinaapril.blogspot.com

  14. Aah, this is quite stressful. I hope you guys get everything sorted out! 🙁

  15. You need to fight for your right

  16. Wow, this is heartbreaking to hear. I did not even know this was as rampant as it was. This posting lead me to researching these types of situations. Great share. My hopes are with you!

    Bidy
    http://www.dearlittlerme.com

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