Lesson: Payments has not Remitted

Make payment in check addressed to the developer, not just in cash or the agent. Don't just trust anyone with your cash payments, even if they are your friends and relatives, since they can succumb to the temptation of running away with your money, especially in hard times.

May be your agent can be trusted with your cash for the first or even up to several monthly payments, but the agent is only human. There is no guarantee that he or she will not give in to temptation.

Visit and check the office of the developer before making a reservation. Know the developer's rules and policies with regard to the payment and forfeiture of your payments. Many low to mid-cost house buyers are vulnerable to abuse by the policies of developers with regard to forfeiture of payments. Knowledge of the Maceda Law or RA 6552 is a must for buyers who are paying in monthly installments for their chosen property.

1. Mary was Convinced to Buy a Property
2. Mary's money was not remitted
3. More cases: Their brokers run their money
4. Non-remittance of payments is a common case
5. Lesson

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