Building our own little castle

After the torture of dealing with DMCI brokers/agents, we finally got the keys of our very own little castle. I was advised by Mr. Rex (my senior citizen officemate) that starting a home is never easy and dealing with agents is the first lesson we have to learn. He told me that whatever mistake, no matter how costly it is, we should think about it as our tuition fee in becoming head of our very own family.

Dealing with DMCI agents/brokers is a nightmare. We experienced to be extorted, verbally harassed, threatened, asked for payments without any documentation and left to dry after they have collected their commission. These brokers are by far the worst I experienced. It is incomparable from my first real estate purchase in Cityland wherein the computations are in black in white and the only problem I need to think about is how to move in the unit. In DMCI, everything is our problem… From payment computation, turnover to move-in. DMCI brokers didn’t even help us and they have the nerve to ask for additional payments. Good thing that Omeng knows how to deal with this type of people and we were able to handle them accordingly. Anyway, after the terrifying experienced with DMCI brokers, we decided to directly coordinate with DMCI and we finally got our keys. Below are some of the pictures of our new home. Hope we can already find carpenters or contractors to have our unit renovated and finally move in by December 2014 for our first Christmas in our new home…

For those interested in purchasing “resell” unit of DMCI Condominiums here are some advice to facilitate your transactions:

1.       Request for the statement of account from DMCI to determine the seller’s remaining payable in DMCI. This is needed to compute for the payments to be made to the seller and DMCI.

2.       Before paying anything, ensure that the seller executed a deed of assignment or a Memorandum of Agreement. This document shows to DMCI that the seller is going to transfer his rights to the buyer.

3.       The seller will then execute a transfer of rights in favor of the buyer. Once the name of the buyer is reflected in DMCI system, payments can be made to the seller depending on the agreement. In our case, we made the payments on (1) reservation date; (2) once the property is transferred in our name in DMCI system; and (3)upon execution of Contract to Sell. Good thing that we are accountants since the broker kept on insisting that we pay them the complete amount/significant amount although there is no documentation other than receiving documents (which does not even specify what we’re paying).  We noted that there are significant investors in DMCI properties who are defaulting because the brokers were not able to properly explain the payment terms and disclose significant details such as additional payments. The broker is even bragging that one doctor pays her whatever computation they gave to him/her (not sure). We just told her that we are accountant thus we are particular to computations and amount details.

4.       Be wary. Always ask questions. If you don’t understand what they’re saying or the computation, don’t stop asking until you understand.

5.       Lastly, please do not hesitate to call the DMCI Customer Care (you can google their number) as they were a big help in verifying what are the next steps to follow, critical cut off dates, such as pull out of the originally submitted Post Dated Checks, and the required documents to be submitted from your end. 

Happy property hunting.

elevators

lobby

entrance to our home

kitchen

dining & living room view from kitchen

bedroom 1 - near kitchen

bathroom

living room with big bear

living room

masters bedroom

balcony

top view swimming pool

kitchen view from living room

selfie. =)

elevator selfie

playground

swimming pool

basketball court

tags: DMCI, La Verti Residences, Documentation, Property Purchase Manila, Broker Horror Stories, DMCI Resell Resale, DMCI Documents, La Verti Documents, Manila Broker Experience, Condominium Purchase Requiremetns