Real Estate Broker: Can a real estate developer forfeit buyer’s payments?

It is really painful to hear from our fellow Filipinos that their hard earned money can easily be forfeited by some of the real estate developers without proper guidance on their part. Agents and brokers do not even discuss this with the buyers during the presentation and signing of the reservation agreement. As per your reservation agreement, reservation fee is non-refundable if you wish not to continue with the payment. Most of the reservation agreements further provide that your payment will be forfeited if you delay in payment, thus your purchase of the property will be canceled. However, real...

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