Answers - Real Estate

The Executive Order No. 648 s. (1981) declared the HOUSING AND LAND USE REGULATORY BOARD (HLURB) as the planning, regulatory and quasi-judicial instrumentality of government for land use development.

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
trong>Presidential Decree No. 957 - Regulating the sale of subdivision lots and condominiums, providing penalties for violating thereof What can be done when a buyer foun
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in
d out that the size of the lot in the Deed of Restrictions and Contract to Sell that he originally signed did not match with what is indicated in the title? If the sale is on a per square meter basis and the area turns o
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

t to be smaller, the buyer is entitled to a reduction of the price. In the same way the area turns out to be bigger, the buyer should pay for the increase in area.

In other case, the buyer may have opt to withdraw the contract h
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ad he known of the difference in the area.

Where can a prospective buyer check whether a subdivision project has a Certificate of Registration and License to Sell He can check it with the Regional Office Of the
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro
LURB which has jurisdiction of the place where the project is located.

Address:

HLURB Bldg., Kalayaan Avenue cor. Mayaman St., Diliman Quezon City 1101, Philippines

Tel.Nos.:(632)927-2723, (632) 9243378

E-mail:esg@hlurb.gov.p
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
h

Head:Director Wilfredo I. Imperial

E-mail: wii@hlurb.gov.ph

Can officers of a developer collect association dues or fees from homeowners for the maintenance and s
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
curity of a subdivision? No, because association dues or fees for the maintenance and security of a subdivision can only be collected by a property organized Homeowners Association with the consent of a majority of the l
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ot or unit buyers actually residing in the subdivision project (Sec. 27 of PD 957)

What is the remedy of a buyer to recover his payment upon knowing that the owner/developer of the subdivision/condominium has no license
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
o sell? He may demand from the seller the refund of the amount he already paid by filling a complaint with HLURB. This may take a long process and due to rampant bureaucracy this may take up a long time. Please be sure,
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
that you have original receipts and valid documents because you will be expected to submit those.

A Filipino couple I know from London paid P200,000 (?2,000 equivalent) to a developer which promised that they can move in after p
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
aying the amount required. They believed the agent. The couple went to the Philippines, excited and spent huge sum for everything; only to be told that the property is not yet ready and they need to wait up to 4 months. The only
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
hing they see is only the lot area where the house will be built on.

I cannot paint their face of disappointment!

Filipinos are not very good in fighting for justice. They are very passive about issues. This couple opted to jus
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
t forget the money they already spent on and just decided to buy another property from a private seller.

They could have sued the developer for mis-selling and demanded for a full refund.

What is the liability of the su
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
division owner if he sold subdivision lots without license to sell? What is the effect of the sale? The sale is valid but the owner is liable to pay administrative fine for unauthorized selling. While, the buyer may opt
t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
to withdraw the contract and demand for a refund or proceed with the sale.

Easier said than done. Many developers hide the real cost of buying properties and they also demand a higher reservation fee which is non-refundable. I a
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
ways recommend to investors and buyers to make it sure that the real estate developer they are dealing with is nationally recognized, endorsed by the government and have a good, strong track record. Property gives a sense of owne
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rship and pride but it can also bring torture and stress if not handle properly.

Is pre-selling allowed? Yes and No. Yes if pre-selling is done upon construction of the property but only IF they have the license
.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
to do so. Some "clever" agents and brokers are doing the so-called "soft-selling" of their project to the public prior to the issuance of Certificate of Registration and License to Sell which is a violation of PD 957. So if an ag
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
ent tells you that they are "pre-selling" be wary. Ask if they the Certificate or Registration has been issued to them and that they licensed to sell or else you will get easily carried away by a colorful brochures and sales talk

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Answers - Questions Concerning Buying Properties in the Philippines

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