Bank housing loan

[kaidemitsui]

well isa yan sa mga dapat na alam ko sa line of work eh hihihi

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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[chronicle]

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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Typically ganyan ang style ng mga developer. Pinapatagal ang transfer of title para in the mean time magbabayad ka sa developer to move in.
But if my option ka na to not move in and not pay the inflated monthly for x months, take it.

Ngayon, kung may hinahabol ka na promo sa bank and booking it needs to be done asap, no choice ka. Pay for x months and move in.

Based on exp, it took me less 3 months to transfer the title to my name. Sabi lang nila na 6 months yan. Just demand and pressure the developer but be nice to them of course.

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[papi smith]

Typically ganyan ang style ng mga developer. Pinapatagal ang transfer of title para in the mean time magbabayad ka sa developer to move in.
But if my option ka na to not move in and not pay the inflated monthly for x months, take it.

Ngayon, kung may hinahabol ka na promo sa bank and booking it needs to be done asap, no choice ka. Pay for x months and move in.

Based on exp, it took me less 3 months to transfer the title to my name. Sabi lang nila na 6 months yan. Just demand and pressure the developer but be nice to them of course.

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Ganyan ba SOP nila? That is unfair, kasi I think it is automatic in the CTS that upon reaching certain date, usually full payment of DP, the monthly amortization on the loan balance kicks in autimatically. That's why dami reklamo on penalty charges, due to unpaid amortizations waiting for bank payment. Eh di pala sa bank problem yun, but sa developer? Tsk.. tsk...

[chronicle]

Ganyan ba SOP nila? That is unfair, kasi I think it is automatic in the CTS that upon reaching certain date, usually full payment of DP, the monthly amortization on the loan balance kicks in autimatically. That's why dami reklamo on penalty charges, due to unpaid amortizations waiting for bank payment. Eh di pala sa bank problem yun, but sa developer? Tsk.. tsk...

Yeah. I think this is the SOP of most developers unless the developer is also affiliated with the bank.

Na approve na loan pero still cant proceed since transfer of title needs to be done which in reality may take a month of so if all things went smooth. Pipigain ka talaga minsan kung di ka demanding.

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[papi smith]

Another compromise would be that you pay the developer's MA on the condition that when the bank payment kicks in, they refund the total amount to you, that based on the reason that you did your part and everything is ready, and the ball is already well into their hands. Appeal is the word.

[kaidemitsui]

Well, you need to pressure the developer. Call them every week. Ask them why the transfer is taking too long and you demand answers. the bank wont release anything until the title is in your name cause that is your colaterral.

I dont think you dont have any other choice than wait. Btw, who is the developer and what place?

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On going na ang transfer of title so ang sagot nila saken is nasa govt agency na ang bola. Before holiday break, nasa BIR pa lng. I need to follow up on Monday kuna ano na ulit status.

The developer po is Holand and it's located in Tanauan, Batangas.

Another compromise would be that you pay the developer's MA on the condition that when the bank payment kicks in, they refund the total amount to you, that based on the reason that you did your part and everything is ready, and the ball is already well into their hands. Appeal is the word.

Ginawa ko na po yan. Ayaw nila. Kahit pa yun kapit bahay ko ay pumayag sila
Dahilan nila, pagibig daw yun sa knya. Bank ang sken.

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[papi smith]

The developer po is Holand and it's located in Tanauan, Batangas.Ginawa ko na po yan. Ayaw nila. Kahit pa yun kapit bahay ko ay pumayag sila
Dahilan nila, pagibig daw yun sa knya. Bank ang sken.

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Sounds like a trust issue, what's your bank?

[papi smith]

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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Wow, ganito pala ang bank loan? I thought it was just as simple as the TCT of the developer, DOAS to you, RE Tax paid and they release the payment to the developer. Title transfers by my experience takes at least a year from date of full payemnt. DOAS ko nga 6 months after full payment.