For those who are expert in real property matters.


Well, I just feel being cheated by the land developer.
Year 1996 when I acquired this piece of residential lot at Greenwoods exec. Village in Pasig city it was an amortization type of payment for 5 years period
By the year 1997 I decided to pay the balance in full but the developer didn’t accept the full payment instead I was forced to defer a 50k as they claimed that tct are not yet ready, for that balance there were no agreement that they would charge interest or whatsoever. Year 1998 I was so desperately need to build a house for my wife & son so I visited the site but to my amaze it’s still a ricefield so to my dismay I decided to purchase a lot again in a subdivision there in the province then built a house. 2002 I visited again that site in pasig, same scenario no developments although the roads are already constructed but nobody yet had constructed a single unit in that phase and that year I begin to receive a notice from them to pay the balance of 50k with a little interest of 300pesos but due to my frustration I just ignored it and said with that interest rate is tolerable I regularly receive this notice with the same interest till 2004. To my amazed last October this year they called my brother via phone and said we must pay them 50k + 36k interest or else they will forfeit my lot purchase contract in 1 month time. My brother managed to haggle with them and they reduced the interest to 26k . Untill now I’m still in doubt that the deal of interest matter is not official and think only a certain employee may taking advantage on me since they know that I work abroad. Last month I only paid the 50k. >>>with 26k going to somebody else personal pocket is really a hard feeling since this is a hard earned money<<< Maybe I was wrong…

I really don’t have any idea to do any moves since I’m away.
Any advice folks! Thanks in advance.