If only I met u guys sooner.

[liza84]

Help..Late bloomer here...I was stupid to invest in a condo unit almost 2 yrs ago without enough EF and now due to the covid crisis I am unemployed and could not pay my monthly bills. My bro lends me money to pay for it. Should I just sell it at a lower price to atleast get something or just keep on borrowing from my brother until mkahanap ng buyer and hindi ako malugi?

 

[imkendall]

@liza84 i suggest to talk it over with your brother, discuss the location and the possible developments near your condo. just keep in mind that cbds tend to recover faster than other areas after a reccession.

 

[liza84]

@imkendall Thanks for the suggestion bro..just wanna share that I dont have any finance/business bg.so when I tried to search cbds it brought me to cannabis lol

 

[imkendall]

@liza84 this made me laugh sorry. the gist of it is if your condo is inside a central business district it won't be long before it's price recovers. just discuss the location with your brother so the two of you can plan on how to proceed whether selling the unit at a loss or at a profit, and as to how long you guys can keep paying for the unit.

 

[liza84]

@imkendall Dont be sorry lol. Same here.. Lurking in this community really taught me a lot. Merci.

 

[joseymiller]

@liza84 He meant CBDs, as in Central Business Districts. He was referring to the location of your condo.

 

[liza84]

@joseymiller Oh ok..i know that CBD I was thinking condo bldg. dev.something?hahaha silly me. Thank you po for all your replies.

 

[amivivi122]

@liza84 For me you need to sell it ASAP. You don't know how long till your brother will help you with it, how soon this pandemic will end and also your employment. At least if mabenta mo, you can get something back kahit lower price mo na ibenta. Parang maliit din 31sqm for 2br.

 

[whatotherpeoplecallme]

@liza84 Since tinutulungan ka ng brother mo why dont u sell it to him

 

[daynam]

@liza84 You‘ve been paying for it for almost 2 years? When will the 2 year point be? The Maceda law applies to buyers of real estate on installment basis who have paid installments of at least 2 years. In case of cancellation, you will be entitled to the cash surrender value (50% of total payments paid). The Maceda law also grants a 60 day grace period if you’ve paid installments of at least 2 years.

 

[liza84]

@daynam I read that Maceda law doesn't cover contract to sell.

 

[resjudicata]

@liza84 cut your losses if i were you

you dont know until ur bro can support you

so why not bite the bullet now?

 

[gooler]

@liza84 You can try posting an ad to sell it. Maybe some chinese will be interested to get it, after all, they can only own condos not land.

 

[liza84]

@gooler Thank u..I did in fb groups, can u recommend other platform with the same target market?

 

[jennifer001]

@liza84 Best siguro if you could find a broker that can help you out.

 

[liza84]

@perfectloveisjesus Susana Heights..near filinvest. Another thing is the TOR which is 150k pala in SMDC. I was told by the agent that it is 300k in MOA area. Plus turn over date is 2022 pa so all those who inquire ofc.would mostly say they need rfo. Thanks for the suggestion.

 

[someonepleasehelpme]

@liza84 Ano yung TOR?

 

[liza84]

@someonepleasehelpme Transfer of rights...for the new owner

 

[someonepleasehelpme]

@liza84 Tapos babayaran mo ng 150k to transfer the rights?

 

[liza84]

@someonepleasehelpme Yup..it is on your negotiation kung sino magsshoulder. This is only applicable for units na hindi pa bank financing. Im not sure how much if nsa bank na.