Cebu Real Estate Information

Comprehensive information for empowerment of property buyers, sellers, and salespersons


Cebu Properties


CEBU CITY HOUSE AND LOT 

88 Summer Breeze

Acacia Drive

Courtyards of Pasadena

Michael James

Murano 4BR Riverdale

Sapphire 3BR Riverdale

Emerald 4BR Riverdale

Riverdale Subdivision

Ruby 4.5BR Riverdale

Gavina 5BR Riverdale

Fatima 5BR Riverfront

Elaisa  5BR Riverfront

Drina   4BR Riverfront

Carmela 3BR Riverfront

Greenwoods Executive Village

Marga  2BR Riverfront

North Belleza Talamban
  

CEBU NORTH HOUSE & LOT

88 Hillside Mandaue City

Aduna Beach Villas

Amoa Subdivision

Anami Homes Jugan

Aspen Heights  (Lot only)

Aspen Heights Fiona H&L rfo

Aspen Heights Aurora H&L rfo

Casa Cerro Compostela

Casili Residences

Crown Heights (Lot only)

El Montegrande 200 sqm Lot

El Monteverde de Cebu

Elizabeth View Homes

Garden Bloom Villas

Greenville Heights

Lunah 2-storey 4BR

Mandaue Lot 7,825 sqm

Northfield Residences

Redwood Subdivision

Richwood Homes

Summerhills (Lot only sale)

The Heritage (Lot only)

Villa Melissa Liloan

Virtacci Hills

Vista Verde Residential Estates

Yanessa Country Homes   


MACTAN HOUSE & LOT

Acasys Homes

Astele

Bali Residences

Blessed Sacrament

City Homes Mactan

CKL Homes

Collinwood Subdivision

Discovery Bay Resort

La Aldea del Mar

Pacific Grande 2

Park Place Twin Homes

Solare

Summerville Cordova

Sunberry Homes

Teakwood Subdivision

Villas Magallanes (Lot only)


CEBU SOUTH HOUSE & LOT  

88 Brookside Talisay SRP

4BR H&L overlooking sea

Baywalk Talisay

Beachfront house Talisay

City Homes Minglanilla

Malibu Residence

San Fernando 2.5 hec

South Covina

The Villagio

Velmiro Heights

Villa Donna Talisay

Vista Grande Overlooking  

 

 CONDOMINIUMS

Amisa Condo

Apple One Banawa

Arterra Residences 

Atelier Residences

Avalon Condo Ayala

Avida Towers

Azalea Place

Bamboo Bay

Bayanihan Flats

Bloq Residences Mandaue

Diamond Suites & Res

Eagles Nest

Grand Residences

La Mirada

Marco Polo Residences

Myvan Cityscape

Myvan Cityscape 2

Myvan Grand Tower

One Oasiis

Pacific Grande condo

Penthouse Woodcrest

Saekyung Village One

The Trillium Residences

Vertu Residences

Woodcrest 2BR condo rfo

 

RAW LAND FOR SALE 

Casili Mandaue 7,825 sqm

SanFernando 2.5 hec. cheap

 

HOUSES & APARTMENT

2BR apartment for rent in Mandaue

1BR condo for rent in Mandaue 15K 

2BR condo rent in Mandaue 28

IT Park Lahug 1BR condo

Metropolis 4BR house for rent 40K 

Want to earn extra income?

 



Does your real estate agent know how to interpret the provisions of the contract?

Does your real estate agent  know how to interpret the provisions of the contract?

Many buyers especially foreigners who pass by the malls get enticed with real estate agents exhibiting house and lot or condominium projects at the malls. They usually make impressive presentation as they are focused on the project they are representing and spending a lot of time hunting for prospect buyers by leafleting and cold calls.

But do they really know how to interpret the contracts and paper works to their buyers? By experience, most real estate agents leave everything to the developer when it comes to contracts and never bother to check the provisions therein.  Some don’t  even understand the legal terms. It's easy to reserve a unit when buyers like it. But problems start to arise when buyers get to see the contract they are going to sign.

 

Sadly, most contracts are constructed by the developer’s/seller’s lawyer to protect  their interest  such as penalties for delayed payments,  automatic repossession of the property, payments already made become liquidated damages, and so on and so forth.  And buyers do not have the liberty to check on them before making a reservation.  No seller would be interested to prepare the contract papers without a reservation fee.   This is the reason why it is very important that the Real Estate Agent understands the contracts and knows how to interpret them for the buyer.  He should be able to check for errors  and to make sure that what are stipulated therein are agreed upon by the buyer.  The true and competent Real Estate Agent or broker should be like a buyer’s  lawyer that will protect the latter’s interest aside from his ability to effectively negotiate for a better and favorable deal.  

Some of the pertinent laws governing contracts are written below:

 Article 1458. By the contract of sale, one of the contracting parties obligates himself to transfer the ownership of and deliver a determinate thing, and the other to pay therefor a price in money or its equivalent. A contract of sale may be absolute or conditional.

Article 1475. The contract of sale is perfected at the moment there is a meeting of the minds upon the thing which is the object of the contract and upon the price. From that moment, the parties may reciprocally demand performance, subject to the provisions of the law governing the form of contracts.

Article 1478. The parties may stipulate the ownership in the thing shall not pass to the purchase until he has fully paid the price.

Article 1479. A promise to buy and sell a determinate thing for a price certain is reciprocally demandable.  An accepted unilateral promise to buy or to sell a determinate thing  for a price certain is binding upon the promissory if the promise is supported by a consideration distinct from the price.

Article 1482. Whenever an earnest money (otherwise known as Reservation fee)  is given in a contract of sale, it shall be considered as part of the price and as proof of the perfection of the contract.

Article 1497. The thing sold shall be understood as delivered, when it is placed in the control and possession of the vendee.

Article 1477. The ownership of the thing sold shall be transferred to the vendee upon the actual or constructive delivery thereof.

Article 1457. In the contract of sale, unless, a contrary intention appears, there is an implied warranty on the part of the seller that he has the right to sell the thing at the time when the ownership is to pass and that the buyer shall from that time have and enjoy the legal and peaceful possession of the thing.  An implied warranty includes hidden faults or defects or any charge or encumbrance not declared or known to the buyer.

The above articles of law are just examples of laws governing contracts. If your real estate agent knows these laws at least by experience, he or she should be able to negotiate not only in terms of price, discounts or terms and conditions, but also to ensure that the buyer is protected by the laws that govern contracts between parties.  If your real estate agent is not knowledgeable about contract provisions, he or she would most likely uphold and offer you what’s exactly written by developers/sellers, lock stock and barrel.  By experience, it is not true that the developer’s  standard contract is fixed a format that cannot be revised.  It can be revised for the buyer’s protection if it is handled well by a knowledgeable real estate agent or broker.

Hiring your own lawyer is also a good move, however in  dealing with reputable developers, by experience, buyers don’t bother to make lawyers take active role due to the additional financial burdens. Less active role like simple notarization or consultation would be more prudent, and let the real estate agents handle the leg work as they are already paid for it in a form of commission by the developers.  

How will you be able to detect if your real estate agent knows them?  Well, you can ask them a couple of questions pertaining to the contract papers, at least some provisions thereof.  If the answer appears to be weak,  that’s your clue.  If communication is through email, you can check on the spelling and sentence construction, and the way they answer your questions.

Knowledge on contracts is crucial especially for foreigners who are interested to own a home here in the Philippines but will have to stay abroad most of the time as their way of living.  If your real estate agent knows how to effectively work online, you can keep your communications line open and you can be more confident to know that you are in good hands.

That’s exactly the thrust of Cebubesthomes Realty. It is imbued with a strong commitment to train and develop our real estate agents to become more and more competent in dealing with clients in all aspects of the selling process including understanding of the legal documents as well as the knowledge and skills in communicating online.