Delayed turnover of condo unit

[Gen1]

that's the risk of buying at the pre selling stage.

my serendra condo is delayed with what would look like 5-6 months. Had a walk through last week and with the amount of work i saw that will need to be done on my unit and the other units in the building, it'll take them a couple of months before we can start living there. It was 3 months delayed to begin with.

Ayala Land Premier na yan, malalim ang balon nila ng pera. ano pa kaya ang ibang developers.

[Chip]

so whats the legal recourse in situations like these? kawawa naman tayong mga consumer kung TY lang kasi pag late payments may penalties e

[tsupermario]

a case for specific performance with damages can be filed but you'll need to consult a lawyer.

[mark_t]

Dont you have insurance to cover that? Ito kasi problem sa mga malilit na builders wala ka protection if they can't deliver. Check mo muna kung me Surety Bond ka na nabayaran.

[wool]

can we have a list of developers to watch over in delaying turnovers. We get penalized if we delay our payments but how do we get even with they if they delay our expectations.

[mark_t]

can we have a list of developers to watch over in delaying turnovers. We get penalized if we delay our payments but how do we get even with they if they delay our expectations.

I will suggest that you ask for their accreditation with insurance companies before you engage their services. Kung hindi sila makakuha nito, wala kang mahahabol sa kanila as most likely they are a shell co.

[chua_riwap]

that's the risk of buying at the pre selling stage.

my serendra condo is delayed with what would look like 5-6 months. Had a walk through last week and with the amount of work i saw that will need to be done on my unit and the other units in the building, it'll take them a couple of months before we can start living there. It was 3 months delayed to begin with.

Ayala Land Premier na yan, malalim ang balon nila ng pera. ano pa kaya ang ibang developers.

Eto matindi.......

Serendra na yan ah. Considering na isa sa mga high end condos, "sumasabit" pa. 5-6 months delay? Malaking backjob yan. Bro Gen1, ano naman ang pumalpak na gawa nila? Pwede ba malaman?

[Gen1]

^^ sa unit ko, mga 3-5 days lang worth of backjobs - loose tiles, parquet needing sanding, uninstalled fixtures, overpaint clean-up. pero definitely not ready for punchlisting, aksaya lang sa oras ko. kaya I told the QC engr, tingnan ko na lang ang unit ko and make some measurements for furniture/appliances. next time na lang kami mag punchlisting.

pero lots of construction going on pa sa ibang units and and floor. Tingin ko mga early may pa sila maka-turn over, tapos mga june bago pa kami maka move in.

delivery of the units was supposed to be dec 2007.

[Lemon]

^^ sa unit ko, mga 3-5 days lang worth of backjobs - loose tiles, parquet needing sanding, uninstalled fixtures, overpaint clean-up. pero definitely not ready for punchlisting, aksaya lang sa oras ko. kaya I told the QC engr, tingnan ko na lang ang unit ko and make some measurements for furniture/appliances. next time na lang kami mag punchlisting.

pero lots of construction going on pa sa ibang units and and floor. Tingin ko mga early may pa sila maka-turn over, tapos mga june bago pa kami maka move in.

delivery of the units was supposed to be dec 2007.

Sir Gen1 anong tower ka?

We have a client(interior design) in Tower 2. They are based in France and went home this March for the turnover. Pag dating nila sa Unit nila, ang dami pang back jobs, halos same as yours. Kaya hindi nila tinangap. According to Serendra management once na fully paid na sila, aayusin na lahat ng backjobs. December pa sila fully paid and until now wala pa din progress.

[chua_riwap]

^^ Mga Bossing, if you don't mind.........magkano ba per unit dyan sa Serendra? Considering na Serendra yan, mas ok pa ata Cityland na lang.................

[uls]

Cost of building materials has gone up substantially between time of pre selling and time of construction

profit margin lumiit

Pre selling price too low

So either lugi ang developer and/or contractor

Somebody is gonna make bawi...

Buyer ipit

[Horsepower]

chua: mga 3.5million up.

[Galactus]

Cost of building materials has gone up substantially between time of pre selling and time of construction

profit margin lumiit

Pre selling price too low

So either lugi ang developer and/or contractor

Somebody is gonna make bawi...

Buyer ipit

Kung small developer lang yan, I could accept their excuse, lame as it may sound.

But this is Ayala Land, supposedly the creme de la creme of property developers here locally. Kung sa kin lang nangyari yan, I would have sued the a$$es off. (Buti na lang wala akong 3.5M)

Risk na ng developer yun, pag mali ang projections nila. And besides, the bad press will do more harm than some shrewd cost-cutting.

And lastly, pre-selling is a cheap way to source for capital (compared to loans, bond flotation or IPO). Kaya malaki rin ang tipid nila sa intermediation costs.