Friday, February 13, 2015

SCAM IN REAL ESTATE: PHILIPPINE SCENE

 


There are some groups who are now  aggressive in scamming people. What they do is go around in the provinces and seek out property owners, purporting to represent  the group of Manny Villar,  buying contiguous properties in certain areas. The only requirement is a certified true copy of the title and a land survey that will be handled by the group.

The come-on is that, they  shoulder everything --- capital gains tax, transfer fees, lawyer's fees, and other miscellaneous expenses. The offered price is high and payment is on a spot cash basis. Just like any proposal, this is too good to be true, and the skeptic would tend to doubt anything that good. But, thinking hard about is, the proposal is doable.



It looks too attractive, though. We don't have to shell out anything  --- only the cost of survey that we can deduct from the amount that they will pay. That's what I thought. However, upon further inquiry, we were told that we need to pay P4,000 for survey expenses. This smells rotten, and besides, the fee is much too low than the usual amount charged by local surveyors---hence, questionable.

We were showed a big bag full of certified true copies of titles and we were surprised to see that even a judge from the regional trial court was fooled by the group. Before us, they must have fooled hundreds of landowners who gave them from P4,000 to P12,000 as payment for survey fees. That would have reached closed to a million if all of those people agreed to have their lands surveyed.



They stayed in the area for close to two weeks before people began to doubt their scheme. No sale was ever closed, nor payment ever made. They suddenly vanished into thin air before people realized that these were scum-bags who were out to steal their money.

They must be roaming in other provinces now to fool gullible property owners  into their trap. It is sometimes best to play safe and never be blinded by big sums of money. If the scheme is too easy, it's bound to be a scam --- like this one.   


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