Wednesday, July 11, 2007

Buying Real Estate in the Philippines? Take this warning.

US$ Peso exchange rate today: (Indicative rates)
Buying: Php 45.75
Selling : Php 46.25


Early this week, VP Kabayan Noli de Castro together with the Dept of Justice broke news that they were putting up a 'watchdog' task force that: (read carefully) will receive and evaluate complaints against erring subdivision and condominium owners, developers, operators and sellers engaging in unsound, criminal and unlawful practices in the real estate condominium and subdivision business. It's about time!

According to my grapevine, properties and structures being offered by these erring developers are often left unfinished and the buyers are NOT refunded their downpayment when they reject the units or when they complain to the developers.

Your lens will give you fresh updates on this task force as things develop here on my end.

Abangan ang susunod na kabanata ...

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