Plan, plan and plan some more

QUESTION: Is Stonewall Central a better name for the property?
UPDATE (click): 2012 Audited Financial Statements
UPDATE (click): 2013 Annual Meeting packet
UPDATE (click): 2013 Special Meeting packet

AUDITED FINANCIAL STATEMENTS ANALYSIS 2009-2012 (click): A CPA analysis of SOHO Central Condominium Corporation's Audited Financial Statements

The Fantasy Vision

Does everyone remember this among the wonderful ads and brochures and how about the salespeople and what they told us. I hear such fantasies continue. So after watching and remembering, cry and then laugh at the truth that is being exposed.









And, if the above is not enough and you need elevated blood pressure, here is the project's brochure.

Many posts are still issues and need to be read once again. At this main hub of postings watch for new posts and updates. Please get involved by spreading the word as to the issues here. We must document all that is taking place. Many documents need retrieval and assistance is needed in getting them scanned and posted.

Thursday, April 25, 2013

Letter e.

UPDATE (04/29/13):  I have just been reported to that at least some, if not many, of those buyers from Gramercy were not fully aware of Letter e.  This is a serious problem.  All those buying any real estate in the Philippines must read ALL documents fully and carefully.  If there are any questions, have legal assistance here or in your home country to understand or sort out any legal questions.  Oh, it also seems there was once again no joy for my posting what is fact.  Always recall the famous quote from Meridien/Century Properties representative, "Don't insult me with the facts."

Letter e.


I know you may ask what is letter e?  Letter e. seems to be a way out for construction which is deficient.  Is this knowingly or unknowingly?  The first sentence is quite specific while the second sentence backtracks a bit but once again addresses possible defective construction.  What is going on?  What does Century Properties know?

When I first heard about this, I made a comparison to another product.  Imagine you go to a car dealer and the Contract to Sell has such a clause.  The car's breaks then fail and you are paralyzed from the neck down.  You sue and in court their lawyer points to your signature on the contract and then has you read Letter e. in between breaths from your air supply from the wheelchair.

Will these theoretical lawyers then claim to the court that you have no right to sue?  They can then attempt to assist you in fixing the car that you are no longer able to drive due to being paralyzed.  Insane, right?

So how many people read Letter e?  How many buyers crossed it out stating that such nonsense or crap would not be in any contract they sign?

"e.  The BUYER, his heirs, successors and assigns, hereby holds the SELLER, its successors and assignes free and harmless from any claim or action of whatever nature and kind which may arise out of, may be due to, or may be caused by any construction deficiency.  However, the SELLER shall provide assistance to the BUYER in case the latter shall proceed against the suppliers, engineers, architects, independent contractors, sub-contractors and designers for their defective workmanship, design and materials, if any."

 
(Click here for a .pdf of the above insane contract.)
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)