Philippine Real Estate Cheats and Scams

While most real estate land and building developers in Philippines are honest and legitimate, there are some who would exploit the vulnerability of investors and first-time buyers. Even those who think they have the necessary experience have been cheated out of their hard earned money. There are many ways that developers / sellers could run away with your money without your slightest notice of what they are about to do.

There is no substitute for preparing yourself against being cheated. Always take the promises of sellers with a grain of salt. Good faith is not enough to protect yourself against unscrupulous sellers. Knowledge and expert advice are necessary to guard against irregularities that are happening in the real estate industry.

It is always preferable to avoid getting yourself cheated and trying to get justice by involving others. Arm yourself with knowledge that can be helpful to prevent from getting cheated. Follow the golden rule: An ounce of prevention is worth a pound of cure.

Don't allow yourself to be sweet-talked into deciding at the spur of the moment. Sleep on it for a few days. Any oral promise must be reduced in writing. Brokers and salesmen can make outrageous promises and it is still legal unless approved by the developer in writing.

In case of doubt, do not hesitate to approach the proper Philippine authority having the jurisdiction. In the case of subdivision lots, condominium, townhouses and even single detached homes constructed by regular developers and builders and those registered with the Housing and Land Use Regulatory Board (HLURB).

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