Sir/Madam:
1. The undersigned had never received any notice from the bank that any
of the postdated checks issued for the payment (down payment &
installments) of the said unit and its association dues were unfunded.
In fact, all the checks issued and dated until December 16, 2017 were
cleared, as evidenced by the Bank Statement from the BPI Checking
Account of the undersigned dated February 12, 2018 covering the
period from December 14, 2017 to February 11, 2018;
2. It was only during the turn over when the undersigned was informed by
the building admin that renting out the said unit is not allowed as
opposed to what the agent, Ms. Carol Sto. Domingo, told him before
buying the unit;
3. The purpose of the email to Mary Ann Lim last December 20, 2017 was
actually to reconfirm if indeed renting out the said unit immediately
after the turnover is allowed. However, the question in the said email
was not answered, instead you sent a notice of cancellation with
forfeiture of all the payments; and,
As regards the first reason, if the undersigned had really failed to remit
payments on the due date, it would not be a valid reason for cancellation of
the said Reservation Application because the same is void for violating the
provisions of Maceda Law which applies to all transactions or contracts
involving the sale or financing of real estate on installment payments,
including residential condominium apartments. Under Section 4 of the said
law, it provides that xxx In case where less than two years of installments
were paid, the seller shall give the buyer a grace period of not less than sixty
days from the date the installment became due. If the buyer fails to pay the
installments due at the expiration of the grace period, the seller may cancel
the contract after thirty days from receipt by the buyer of the notice of
cancellation or the demand for rescission of the contract by a notarial act.
Section 7 of the same law reiterates that any stipulation in any contract
to the contrary shall be void. Therefore, the cancellation based on the
abovementioned reason is void for being contrary to law.
ROGELIO M. FURUC
COPY FURNISHED:
MYRNA S. HERNANDEZ
LALA S. MEDINA