Be careful in buying condo units
Credit to Author: EMETERIO SD. PEREZ| Date: Thu, 14 Mar 2019 16:40:37 +0000
On Feb. 28, 2019, Wilkens Cabang emailed Due Diligencer regarding his acquisition of a condominium unit. The contents of his email are being published in this space for the readers of The Manila Times to analyze and understand the plight of condo buyers, and for consumers in general, who may have undergone similar experiences.
Mr. Cabang wrote:
“I was googling and found an article of yours about SMDC. I am just curious if you can be of help enlightening me on which agency should I come to if I have issues on condominium.
By the way, I am an OFW, and I believe this issue applies to most of us OFWs. (OFW stands for overseas Filipino workers.)
Sales agents usually conduct road shows and those hired by SMDC also do the same – they sell their company’s projects in the Philippines. Low payment scheme attracts us. Then there goes the pre-selling of properties that will make [us] wait for a minimum of 3 years (as we were then told).
To cut the story short, everything has been settled with SMDC, with the bank loan meeting the balance due SMDC. What then can a buyer demand of SMDC if it fails to turn over the unit on the agreed date which was provided for in the contract?
In my case, the sales agents said I would get my unit in the 3rd quarter of 2018. So before that, the necessary loan must be processed so the bank will settle the balance due the developer. As my obligation demands, I was to pay directly the loan and the interest to the bank.
I sent email to SMDC asking for some compensation for what they had caused me by asking to waive reasonable dues once the unit is turned over – like association dues for few months or so) but the response was negative.”
On the same date, which was Jan. 25, 2019, Mr. Cabang received the following reply from SMDC’s Emrol G. Gereza:
“Dear Mr. Cabang:
We write with regard [to] your request for compensation.
Please accept our sincerest apology for any inconvenience that you may have experienced with regard [to] your concern. Rest assured that it was neither done in bad faith nor was it meant to deprive you of your unit.
Please be informed that since the completion of your unit is being facilitated accordingly and you were properly advised of its target delivery date last Feb. 15, 2019 via email, we regret to inform you that Management cannot accede to your request for compensation.
We seek for your understanding and kind consideration regrading this matter. Trust that SMDC is continuously undertaking further measures to deliver your unit the soonest time possible.”
Due Diligencer received a similar complaint from another SMDC client, who identified himself as James Pugh, who wrote:
“I read your Manila Times article ‘Buying SMDC condo unit is not always fun”. I paid in full for 3 SMDC condo units and the turnover for 2 of them was 2 years ago and still they won’t issue titles.
My wife and I have visited the SMDC offices at MOA and they don’t give any answer. If I want to sell the units it’s difficult and I’m not confident that my investment is secure.
Very little can be found on the internet for this situation. Do you have any further information to share please?”
As a reporter who writes for The Manila Times, I don’t usually answer emails. However, I am making an exception in the case of Mr. Cabang and Mr. Pugh because they expressed what buyers of condo units go through before they take actual possession of their condo units.
In my response to their emails, I decided to review my piece “Buying SMDC condo unit is not always fun”, which appeared in this space on Aug. 23, 2015.
Yes, I started the piece about the two octogenarians who wanted to buy two condo units. Since they are in their 80s, they may be much older today. If they had pushed through with their acquisitions, the poser is, are they still alive today? Have they experienced what Mr. Cabang and Mr. Pugh went thru?
By the way, for complaints regarding the acquisitions of either house-and-lot packages or condo units, complainants may want to email President Rodrigo Roa Duterte, Malacanang Palace, Manila. I don’t know his address in Davao City.
Personally, I do not have the answers to the two emailers. All I can advise them is wait until SMDC would be able to deliver what it had promised. Shall I say they should continue waiting? Just asking.
esdperez@gmail.com
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