Law against overpricing of land.. meron ba?

[blacksun25]

[SIZE=2]I would just like to inquire if there is such a law that protects us buyers from overpricing of land by condominium/ subdivision developers. I purchased a condo unit, through PAGIBIG, more than a year ago. The Condo Project is located in Quirino Highway, Novaliches, Quezon City. The contract price of my 32 square-meter unit was more or less 700K.

Now I'm actually planning to purchase a parking slot. They currently sell the parking slot at PHP 330,000 or PHP3000 / month if to be rented (parang daig pa Makati sa parking rate .).

The parking area is not actually covered (open parking) and each slot can barely accommodate a full size car. I feel that the price of the developer is a bit steep compared to the actual market value of land on that area and also considering the area is not that "urbanized" yet. And the sad thing about this is that they are giving us, unit owners who didn't purchase parking lots, a hard time entering the condominium grounds with our vehicles and they are strictly enforcing the "NO SLOT NO PARKING" policy which effectively forces us unit owners to buy their slots at a very unreasonable price.

Sana may lawyer dito na makapigbigay ng advise. Thank you.
[/SIZE]

[1D4LV]

wala yatang ganyang law. imho. its a free market, ika nga.

[tidus1203]

That's absurd to even think a law exist to prevent land overpricing. Land is bought and sold with the free markets, don't like the price then just walk away.

[ans_lim168]

Yup tama sina Tidus and 1D4LV, if you think the price is out of this world "nananaginip", just walk away and don't but the property, you have a right to buy a property but you also have a right to purchase at a fair price.

[Gumusut_Amige]

even regulated prime commodity items mahirap din kontrolin... yan pa kayang walang pinanghahawakan na law.

just shy away from those sellers who are profiteers
if you can find a buyer for your condo unit better sell it and transfer to other places with better deal

[redorange]

Sell the condo and buy someplace else that has parking included in the price.

[alwayz_yummy]

tol, mura yan a... ang usual rate for a dedicated parking slot is 500,000.

ganito, sell the condo, get a town house na may car garage.wala ka magagawa, maduduling ka lang maghanap ng condo na may kasamang parking slot!

edit: better yet: pa-lease-to-own mo nalang yang condo mo din.. atleast kumita ka pa..

[chua_riwap]

Aside from that, may babayaran ka pang monthly dues diyan. Yan ang hirap sa Condo. Para ka ring nagri-rent.

[Altis6453]

Wala pong batas sa pag-control ng presyo ng lupa. The advice given here is right. Either sell the condo and live elsewhere where there's free parking or just rent.

[alwayz_yummy]

ako, kahit gusto ko itira pamilya ko sa condo, pero having 2 cars, di feasible... so hanap ako ng single detached na may 2-car garage w/in my vicinity...

pero eto masasabi ko: mura yang parking slot mo ha.

[AirBender]

Yan ang hirap dito sa atin eh, mga opportunista talaga ang ibang developers. Ganyan din ang isang condo tower sa Pasay where my uncle bought a unit.

I don't think there's a law but you could inquire at HLURB if they can do anything about it. Wala namang sigurong masama kung magtanong diba?

[fourtheboys96]

law of supply and demand at work.

high demand for housing in the urban area leads to high prices.

[Sabrina]

Wala pong batas sa pag-control ng presyo ng lupa. The advice given here is right. Either sell the condo and live elsewhere where there's free parking or just rent.

Another thing you can do is to hire an independent appraiser to know the market value ng isang property. At least you know kung mas mataas ang value ng property na nabili mo or nabiktima ka nga ng overpricing. If you're planning to sell your unit, ganun din ang posible mo gawin, either mas tataas ang value nian becoz of location or improvement na ginawa mo.

[boybi]

You should have checked everything first before you bought that condo unit, like what's included with the price you're paying for, etc.

[blacksun25]

salamat po sa lahat ng nagbigay ng advise. mukhang ibebenta ko na lang to at hahanap na lang ako ng single-detached unit na may parking na as advised. medyo nabubuwiset na rin ako talaga sa mga patakaran ng condo. Ang hirap kumilos, bawat kilos mo kailangang ipaalam pa sa kanila.

[alwayz_yummy]

ganyan talaga condo..di ka may-ari ng bahay..pero pag sa subdivision ka--ung subdivision talaga,ha.. lahat may bayad din ha...

[bad driver]

500k++ bili ko sa extra parking lot ko nung 2001 pa sa condo ko. mura na yang 300k mo.

[beereo]

I don't think so. Presidential Decree No. 957 or the Subdivision and Condominium Protective Buyer's Decree does not mention anything about overpricing of land. Kindly consider the quoted Supreme Court Decision below with regard to a contract of sale:

The owner of the property for sale has the right to quote his own price, whether reasonable or unreasonable. It is up for the prospective buyer to accept or reject the price so fixed by the owner. The seller may even impose a condition which is hard to fulfill and name a price quite out of proportion to the real value of the thing offered for sale. That is his prerogative in voluntary sales. (Cornejo vs. Calupitan, 87 Phil. 555)

[SIZE=1](The above-quoted paragraph is an excerpt from the Book of Dean Ernesto Pineda, A.A., A.B., LL.B. who is an authority when it comes to the interpretation of the New Civil Code provisions. I'm currently taking up the Law on Sales during this particular semester. I hope this can help.) [/SIZE]

[niky]

330k for condo parking is cheap. Covered condo parking usually costs between 500k-1m... as it's uncovered, I'd say it's just about right... probably still friggin cheap.

The condo developer has the right to charge whatever the heck they want. If you don't like the price... sell your unit (for a profit, hopefully) and get another one..., but I doubt you could find a decent 32 sqm for under 1m right now... and the parking won't be any cheaper. I don't know of any other condos where you can buy parking for less than 500k.

Hell... we were shopping for condos in Cubao two years ago, and our 1m could only get us a beat-up, second-hand, needs-repair split-level (around 30sqm, pero sobrang sikip kasi split) with no parking. Too bad Avida wasn't open then... that 1m could have got us a nicer 26sqm unit... that would have appreciated over time instead of losing value...

[CVT]

Ang hirap talagang tumira sa condo....

Kaya iyong bro in-law ko,- doon ipinaparada ang oto niya sa garahe ng mga in-laws ko.....

8202:sampay: