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Showing posts from October, 2017

Right to refund of buyers of undelivered condominium units

Q: I have paid my downpayment in full and I relied on the promise of the developer that the unit I bought will be delivered last year. I found out that at the time I signed the reservation agreement, there is no license to sell yet, worse there was no building stated by the developer. Can I ask for a refund? Answer: If the developer sells property without the required license to sell issued by the HLURB, the developer will be violating PD 957.  The remedies for a buyer of the property are stated in Section 9. It provides: SEC. 9. Revocation of Registration Certificate and License to Sell. -The Authority may, moto propio or upon verified complaint filed by a. buyer of a subdivision lot or condominium unit, revoke the registration of any subdivision project and the license to sell any subdivision lot or condominium unit in said project by issuing an order to this effect, with his findings in respect thereto, if upon examination into the' affairs of the owner or dealer during a h