HLURB reiterates warning on bogus property sellers

Although property buyers have already become wiser and intelligent, the Housing and Land Use Regulatory Board (HLURB) reiterated its warning against buying properties without proper permits.

HLURB Central Visayas regional director Francis D. Ordeniza said despite aggressive campaign started by the agency few years back, still there are buyers who are falling prey in deciding to buy properties even without Licenseto-Sell (LTS) issued by HULRB.

Ordeniza reminded buyers here and abroad to scrutinize the developers or the properties being floated in the market and ask for proper licenses and other legitimate documents.

HLURB confirmed that their office is still flooded with various complaints regarding delayed in completion or delivery, among others.

Although, developers also are careful now, there are still complaints from buyers every now and then, thus Ordeniza called the attention of buyers, especially the online buyers or OFWS to not decide immediately in buying until they make sure that the developer is legitimate and with good track record.

Earlier, HLURB head for monitoring and adjudication division Lyndon D. Juntilla made a similar caution to realtors against selling properties without proper licenses, especially LTS.

Juntilla said brokers, property agents, as well as buyers should be vigilant in deciding to buy a property, making sure that LTS has already been granted by HLURB, otherwise the project is deemed questionable.

The HLURB is closely monitoring compliance of Resolution No. 921, which revised the implementing rules and regulations governing advertisements of subdivision and condominium projects.

Advertisements promoting a real estate development project now have to provide the name of the owner or developer, the exact location of the property, target completion date and pricing. The LTS as approved by HLURB should also be stated.