Refunding down payment; developer increased H&L TCP by 48% of the original and signed pre-selling price

Em Philippines
Última Atualização: Aug 3, 2022
Dear Attorney,

I'd like to ask if it's my legal right to demand the developer of the house & lot I was purchasing to refund the down payment I have paid to them since January. I signed the Agreement upon reserving the unit last December 2021, but now, 7 months later, they said there will be an increase in the TCP (from 3.2M to 4.7M which is about 48% of the original TCP) because of inflation which I believe is really unfair because the reason I paid a reservation fee is to lock in the pre-selling price of the unit. Now I want to demand a refund of the 7 months (January to July) worth of equity I paid to them because there's no way I can afford the new TCP, but they are not responding to my message. I think it's a bait or a scam even, that they try to convince prospective buyers to reserve early supposedly to 'lock in' the price before the price increase, and then in the middle of equity installment, they'll announce a price increase. It's really unfair and inhuman. I understand that the reservation fee is non-refundable, but I still have the right to get the down payment back, don't I? Please help me with my arguments when I file a claim, because I am an OFW and it's already really hard to earn a living here but then these developers are becoming more and more creative in deceiving unsuspecting buyers. Please help me get my money back.

Thank you so much in advance for your legal advice.

Respostas de Advogados

Δικηγορικό Γραφείο Ηλία Τζερεμέ - Ilias Tzeremes Law Office

Δικηγορικό Γραφείο Ηλία Τζερεμέ - Ilias Tzeremes Law Office

Aug 7, 2022
It is vital and necessary to check your contract with the other Signatory, not only in order to understand your right's foundation, but also in order to examine the apprpriate legal protection mean
FAZER PERGUNTA GRATUITA

Gratuito • Anónimo • Advogados Especialistas

Precisa de Ajuda Jurídica Pessoal?

Conecte-se com advogados experientes na sua área para aconselhamento personalizado sobre a sua situação específica.

Gratuito e sem compromisso.

Especialistas Jurídicos Relacionados

Obtenha ajuda personalizada de advogados especializados nesta área

ACE Law Office Logo
ACE Law Office
Makati City
Desde 2023
10 advogados
Banca e Finanças Família Imobiliário +1 mais
Ligar Agora
Desde 2004
20 advogados
Família Negócios Corporativo e Comercial +1 mais
Ligar Agora
Desde 2015
12 advogados
Banca e Finanças Negócios Corporativo e Comercial +1 mais
Ligar Agora

Todos os advogados são profissionais verificados e licenciados com historial comprovado