When we purchased a property through Megaworld, we have informed the sales agent that the main thing we want to do is have it rented out through AirBnb as we don't live in the Philippines. This would be an investment home.
We were only asked to sign a sample computation form (attached - signatures deleted) and the buyer's information form. It took Megaworld 3 months to draft the Sale and Purchase Agreement which we did not sign as there were a lot of clauses in the contract we did not agree to as before we put in the reservation fee we asked the agent if this or that is possible or not and we told all lies from the very beginning. We were asked to pay the 5% DP and HO and 1st amortization fee even though we have not even signed the contract. It takes weeks for the Le Grand staff to even revert back to us and we were endorsed to one person after the other who can't even assist us at all.
Therefore, we have decided to just get the money back as we sick of this nightmare. And as usual, no one from Megaworld is responding back. It's a big big nightmare. We don't know how to get back the 400k Php we have paid!!!
Such an utter disappointment. We completely understand that the 25,000/- reservation fee is non refundable therefore we were just asking them to refund us back the 5% (Php 412,190/-) and the Php 24,288.33 (1st month amortization). They don't even have the decency to reply back to you and they just keep stringing you along. Never ever purchase a property from Megaworld.
Beware of them! They are scammers and will bleed you dry!
Product or Service Mentioned: Megaworld Home Buying.
Reason of review: Problems with payment.