Legal Question in Real Estate Law in Philippines

we are planning to buy a house and lot in laguna bel air philippines...the selling price is 1.6..they are requiring us to pay 10% downpayment..they told us its legal ..i dont remember the "term"they used...so my question is,when is the right time to give them the 10% downpayment they r asking?upon signing the contract of if the documents r ready for filling...


Asked on 4/27/12, 1:36 am

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

You have to do due diligence before buying the property. Check the records of the developer with the regional office of the Housing Land Use and Regulatory Board (HLURB). In case the project is clear you can proceed with the payment.They will let you sign a contract to sell.

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Answered on 4/27/12, 7:43 am


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