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I bought a condo at Greenbelt Chancellor and started to make payments to Megaworld Corporation taking advantage of their payment scheme which involved 30 percent to be paid through postdated monthly checks to them. Last year the building was completed and to be handed over to unit owners. I then received a notice from them saying that I had to pay the balance immediately. There were 3 more checks that needed to be cashed by them but they insisted I had to pay the balance immediately. Although there were 3 more checks to pay I complied and had the balance financed through a bank in Manila.

Megaworld Corporation computed the balance and submitted it to the bank so the bank could prepare the balance to be financed. The bank then paid Megaworld Corporation in full and I began to make payments for the financing. A month or two later I received a call from a Megaworld Corporation representative who was handling my account to inform me that they made a mistake in the computation because their accounting dept. double posted one of the previous checks and I now had to pay one more additional check to them. I refused, telling them they were negligent and they should have computed correctly the correct amount into the balance to be financed by the bank otherwise that would mean I would have to pay one month to the bank financing and then pay a large amount as well to Megaworld Corporation. Since they were negligent then they have to absorb that and why should I pay for their mistake.

Two months later I received an email from the office processing my deed of sale telling me that they would not complete the process until I paid one more check.

At the very least it shows how incompetent and negligent they are and at worse scenario it make me wonder if there isn't a rogue group in that corporation extorting money and then depositing it somewhere outside the company. Right now my deed of sale is still being held up. Can anyone help? I sent a letter addressed to Andrew Tan who heads this corporation since this has been stalled by the managers. I understood that his officer in charge would look into it but no reply so far from anyone in that company telling me this would soon be completed. Does Andrew Tan know how business is conducted in this corporation? Perhaps he or his officer in charge should investigate.

Location: Washington, District Of Columbia

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Guest

download pd 957 for your awareness re buying condo or subd.unit. look for a lawyer for your group and share the fees for legal actions this should be STOP NOW !

Guest

ask help to atty Nicholas Zarate he is former lawyer of hlurb a gentlemen with kind hearted to help.email : nickzar2000@***.com

Guest

Found this link about MACEDA LAW protecting subdivision/condo buyers paying through installment:

http://www.lawphil.net/statutes/repacts/ra1972/ra_6552_****.html

Might help you decide when backed into a corner

Guest

Hi,

If you have had a similar experience with Megaworld. please email me at iratemegaworldcustomer@***.com.

I am hoping a collective complaint against this scam of miscalculating and then charging penalties for their stupidity will have more concrete results, maybe through legal actions.

I have a friend who is a lawyer, and i need help with documenting Megaworld's scam to make a case.

Thanks!

Guest

I gave a reservation check for 650USD on April 2013 and my agent said she will just hold it in case a unit becomes available. All the units i picked apparently were not available and the next thing i saw is my check being cashed out from my account :( Ok because i was seriously considering to own a unit i patiently waited , no email, no word from my agent until september came and i receive an email stating i need to pay my monthly payment since May 2013 (5 months arrears!!!) i was so mad and to make matters worst nightmare, they charge me horrendous penalty fees and been receiving DHL mails with statements just like a collection agency. I was so upset i cancelled the whole deal now i am working of hopefully a refund of my reservation fee.

Guest

I was in similar situation. Purchased unit, paid on time.

However, title took several years of waiting and the sad part they said title cannot be released because of short payment. what an excused. their employees cannot say due to scare of repercussion from their manager or to loss their job.

what business atmosphere they have. investigate if you do not believed me.

Guest

OMG, we all have the same story. I was given a statement of account and had to double check their figures.

A huge amount was missing. I had to do their job for them and still could not get the figures right. I am now afraid that if I continue wasting my money paying them, I might end up like all of you. I am having a second thought now of continuing this investment.

It would be better to lose some now than to continue paying them and end up with nothing. There is nobody who could help us in the Phil. The govt. is so corrupt.

The people who should help us are looking the other way. Just read the write up here of Megaworld's cease and desist violation and the projects involved. Mine is here. Got to run now.....

too bad Phil. investors. You or we are getting duped. There is something going on inside Megaworld and it is very obvious.

Why are we surprised? Nothing surprises me there anymore. It is a way of life.

Thieves, thieves, thieves.

Guest

I'm so concern of reading this thread about Megaworld. I've been forced by their staff as well to pay up my balance this month to be able to avoid the interest.

I already sent an e-mail appealing to them to waive the interest because it's their fault why my billing statement got delayed. I hope they will do something about it.

Guest

Who has contacted the CEO and what is the reply so far? I did but I have to await yet for a reply on my clarifications and inquiries.

Guest
reply icon Replying to comment of Guest-550168

CEO Lourdes Alfonso lgutierrez@***.com

Guest

Let us compare all the taxes, fees that they have indicated in your statement of accounts and check if there are differences or discrepancies and get to the bottom of how each is computed.

Let us also insist on receipts upon their payment of these fees to government institutions.

I would like to say that let us bring this up to Failon Ngayon, Imbestigador and Aksyon TV.

Guest
reply icon Replying to comment of Guest-550167

I purchased a unit at McKinley Hill, one time I was 1 day delayed of the balloon payment, they charged me 3% of the total amount.

On the turnover date, I paid the balance in full. After my full payment, Megaworld continued to en-cash the monthly payment that I have initially provided. I asked for a refund of the money they and it took them 3 years to refund it (no interest or compensation given to me). They also overcharged my property tax on 2011, its nearly the end of 2013 and they still won't refund me the money. It is really frustrating to deal with this company. If you are ever planning to buy a property with them, forget about it unless you want to have massive headaches, frustrations and tons of additional charges.

Guest

I wonder if upper management is aware of what's going on... I think management should be contacted and I think they should audit the departments that handle the payments and accounts to see why this is really happening..

Guest

you can reach Chairman andrew tan at ceo@***.com

Guest

Wow! Whats wrong with megaworld?????

I just paid my balance also in such short notice otherwise they would keep charging me 3 percent penalty fee... now im worried that after 2 years they will tell me dat they their computation waswrong and that i had to pay more plus interest..

can we sue them for this??? Thanks...

Guest

I bought condo unit in greenbelt chancellor. the unit is terrible, furniture terrible, designs terrible and have big a exus fan at the balcony.

to all people out there dont buy any condominium anymore under megaworld because they they are not professional people. dont waste your money and time with this company.

Guest
reply icon Replying to comment of Guest-533634

Hi,. we have the same problems.

my unit also has exhaust fan next to master bedroom at the balcony area. and i did not accept the unit.

can you contact me at my email. mateacc@***.com

Guest

Gosh! We are exactly in the same situation right now. We paid our balance in full in 2010, but this month, they sent us an email telling us that we have to pay more, and added to that, pay 2 years of interest in penalty!

We told them that, granting that it's their mistake, we're willing to pay the missing amount but they have to waive the penalty. Our contact person said he's going to refer the matter to upper Management either to waive the penalty or decrease it. We're still waiting for him to get back to us. In the meantime, we got another message from from the mail, this time from another employee, asking us to pay or or risk having the property forfeited.

Something is really wrong with this company. Do you know the email of Andy Tan? He needs to know what's going on in his company!

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