Procedure in selling/buying conduminium in the Philippines

United States
November 3, 2006 2:09pm CST
My name is Ms. Magno. A few weeks ago went to Chicago to visit my family. One of my relations is on the process of buying a condominium with Megaworld Corporation. She was contacted by a company in Chicago and got her to sign a Request for Reservation and Offer to Purchase one unit in the California Garden Square,the project name, located in Libertad corner of Calbayog St., Mandaluyong City. She was made to believe that the request for Resevation and Offer to Purchase was the contract itself and she need no further documents to make the transaction valid and legal. She was told to pay $450. for her reservation deposit. She was also made to sent via FEDEX 24 postdated checks dated since Nov. 28, 2004. After sometime while those checks were paid by her bank, she called the staff at Megaworldd to give her an update through a Statement of Accounts. Up to now she never got a statement of accounts or receipt, nor a Contract to Buy and Sell. When I got here in Chicago and found out about her problem. We called again Megaworld, Jessica Villanueva, the staff said, normally we do only contract to Buy and Sell with clients here in the Philippines she said. She said Mrs. Magno, has to go to their office to get her documentary requirement. I suggested that can be done by SPA. So I requested for a Pro-Forma of the Contract to Buy and Sell. The other day I finally received the Pro-forma copy and read it thoroughly. Explained the contents of what is in the contract to Mrs. Magno. She said that was not what they told her about the transaction. At this point we are in need for some legal advise on this matter. Can someone give me your most considerate legal advise on this matter. At this point that was the only respond yet we got from Megaworld Corp. No receipts yet nor Statement of account has been received. I sent a formal registered letter requested all these documents a week or so ago.
1 response
• India
3 Nov 06
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