Homeowners View

Developers today seemed to shortchanged their clients. Unfinished amenities, security problems posed by depressed areas surrounding the subdivision and unmet promises as to the perimeter walls, playgrounds etc. Like putting salt to the wound is the inability of the government to put a stop to the problem. No government agency will give a helping hand to victims of unworthy developers.

Property Consultants sweettalk clients with promises especially the first time buyers. OFW's almost always fall victim to crocodile loans led by the consultant who knows the client will not be able to pay the amortization in this time of crisis.
Yes,OFW or balikbayans has savings for the downpayment but what about the monthly amortization, can they be able to pay it for say 10 years or 20 years. Time and again clients fall victim to crocodile loans and their property forclosed for reasons known from the start. And then the unit will be sold for auction only to be sold as "Reborn" in their own terms. The vicious cycle goes on and on. No government agency wants to help.

Tips to first time property buyers.

1. Beware of sweettalking consultants.
2. Do not succumb to urgency of buying an underdeveloped property.
3. OFW's make sure you have a job contract covering the years of your loan terms.
4. Take a trip to the site and ask if there is perimeter walls surrounding the
the subdivision.
5. Take a look if the property is surrounded by depressed areas, if so do not
buy. Decide to buy with good consideration as to the security of the place.
6. Take a look at the record of the developer. Ask your friends which one is the
best developer as what they have learned for their first buy.
7. Last but not the least, ask the consultant if the unit has warranty. Some
give their clients up to 20 years warranty to the unit. Some has none. Most
mass housing units today have no columns be aware of that. Take a
hard look during the unit erection, make sure there are concrete columns up to
the second floor if none, do not buy.