Below is word-for-word extract taken from: http://www.cebubesthomes.com/id67.html

You will also find similar marketing material on many other property websites which have unfortunately simply copied literature; provided to them from: Pacific Concord Properties Inc. (PCPI) or information that has been posted on the web by PLC Marketing (which seems to only sell PCPI / Lancaster Suites Cebu and Manila projects.)

Please note that the information (below) was published on multiple property websites in Cebu and beyond, on or about June 2005

The website states the following (THE TRUTH/ FACTS IS IN CAPS UNDER EACH PARAGRAPH):

Introducing – Lancaster Cebu Resort Residences. A Cebu Condominium located a mere three minutes away from Mactan International Airport, Lancaster Cebu is envisioned to give the owner convenience of both hotel and resort living. Also to be run as Condotel, Lancaster Cebu will give the buyers the comfort of owning their own residential condominium but allows them the privilege of placing the same unit in the rental pool and earn monthly income.

FACT: THERE IS NO CONDOTEL TO DATE (18 MONTHS AFTER LAUNCHING). NEEDLESS TO SAY, THERE IS NO INCOME!

Condotel Concept. Enjoy totally hastle-free condotel management and earn revenues regardless of where you are around. Lancaster was designed as a Cebu Condominium with overseas Filipinos and foreigners in mind. When unit owners decide to enroll their units in the rental pool, they earn competitive rental dividends when they are abroad and still be able to use their own Condotel unit with ample advance notice.

FACT: ONCE AGAIN, AS ABOVE – THERE IS NO CONDOTEL AND NO RETURNS. I PITY THOSE WHO PURCHASED BASED ON THIS ARTICLE…

Hassle-free Condotel Management Unit owners in the rental pool enjoy totally hassle-free Condotel management. They need not worry about unpaid electricity bills, unpaid rent and other problems so common in conventional leasing. All concerns down to the payment of all utilities are taken cared of by the professional hotel management operator. Lancaster is a condo for sale cebu where owners from anywhere around the world can sit back, relax and generate their monthly rental income

FACT: WELL YOU BETTER WORRY ABOUT BILLS AND NOT JUST ELECTRICITY (YOU NEED TO PAY ALL BILLS), AS THERE IS NO MANAGEMENT AND THE DEVELOPER HAS NEVER RUN ANY CONDOTEL.

Features & Amenities Telephone operator, Grand lobby with reception counter, 24-hr monitoring security, Maintenance & housekeeping services, Automatic fire sprinkler system for all units, Overhead water tank & Underground cistern, Back up generator, Laundromat services, Driver’s Lounge w/ T&B, Close circuit television, Multilevel basement parking, Swimming pool, Provision for PABX service, Hotel shuttle service. Lancaster is one of the Condominium Philippine Properties located in Mactan Cebu.

FACT: NO TELEPHONE OPERATOR, NO GRAND LOBBY, NO 24 HR MONITORING SECURITY, NO MAINTENANCE & HOUSEKEEPING, NO AUTOMATIC FIRE SPRINKLER SYSTEM (UNLESS YOU COUNT A FIRE EXTINGUISHER IN EACH ROOM), NO WATER PRESSURE, THE BACK UP GENERATOR DOES NOT OPERATE (AND EVEN IF IT DID IT IS ONLY BIG ENOUGH TO POWER THE LIGHTS IN HALLWAYS OF ONE OF THE FIVE BUILDINGS), NO LAUNDRY MAT SERVICE, NO DRIVER’S LOUNGE, NO MULTI-LEVEL BASEMENT PARKING, ONE TINY SWIMMING POOL (THE OTHER ONE IN THE MARKETING MATERIAL IS JUST A PILE OF RUBBLE AS PCPI DOESN’T HAVE PERMISSION TO BUILD IT), NO PABX, & FINALLY NO HOTEL SHUTTLE SERVICE. IN SHORT, ALL OF THESE CLAIMS ARE FICTICIOUS.

Future Development Free form swimming pool and lap lounge, Elevated badminton court convertible to stage for al fresco events, Landscaped gardens and bird baths, Children’s Playground, Concession gym with spa and sauna, Full service barber shop and ladies hair salon, Full Banquet Service including restaurant outlets. Function rooms and Ballroom. Lancaster maintains quality with affordability to be competitive as a condo for sale in Cebu Philippines

FACT: NO FREE FORM SWIMMING POOL, NO ELEVATED BADMINTON COURT, NO LANDSCAPE GARDENS/ BIRD BATHS, NO CHILDREN’S PLAYGROUND, NO GYM, NO SPA/ SAUNA, NO BARBER SHOP AND NO LADIES HAIR SALON. NO RESTUARANTS, NO BALLROOM, NO FUNCTION ROOMS. (ONCE AGAIN ALL A DREAMT UP LIE TO CONVINCE INNOCENT BUYERS TO BUY)

Condominium in Cebu, Lancaster Studio unit Fully Furnished Floor Area: 36.5625 sqm.

P2,372,467.50

20% discount on cash purchase. Terms: minimum of 20% down payment (with 20% discount on down payment) 80% balance payable in 24 months no interest. Buy Safe. All checks payable to Escrow Account Equitable PCI Trust Account. The funds in Escrow Account can be disbursed only for construction and continuing project requirements

FACT: NO ESCROW ACCOUNT – ESCROW ACCOUNT IS USUALLY DONE VIA A LAWYER’S TRUST ACCOUNT, NOT AN ACCOUNT IN A BANK THAT THE DEVELOPER CAN DRAW DOWN WHEN HE THINKS HE HAS THE RIGHT.

Please note that the easiest way to verify what has been written on the multiple sites that are spreading this vicious marketing, IS TO VISIT (OR HAVE A FRIEND VISIT) THE ACTUAL SITE.

BEST,

CEBU PROPERTY.


There are many developers and sellers that will quickly make your hard earned money disappear in Cebu (like many places around the world). You will get lots of promises and claims…

Therefore, we have put together a simple guide to buying a condominium apartment property in Cebu. If you follow these simple steps you will minimize problems:

1. Retain a reputable lawyer

2. Make sure that you have a copy of the CCT (cond0minium certificate of title) when BUYING the property.

3. If buying in an existing development for investment purposes, see if the developer is willing to give you 5% + as a guaranteed return per year on your buying price. If not, walk away. As there are developers / operators in CEBU that offer guaranteed returns.

4. As to speak to at least 3 EXISTING clients of the person / company you are buying from to hear there comments on the performance of the developer/ seller, and whether or not they have received a TITLE in their names.

5. If the developer/ seller is NOT willing to pay for late delivery of the unit – DON’T deal with them. A company that pays for being late IS one you can trust.

6. Make sure of the quality of what you are getting. Be careful if the developer is selling apartments with furniture/ fittings and can back up important claims. Go see their final product at the project and look for the warning signs below:

Warning signs:

a) Usage of contact laminate (sticky back wood veneers) on doors, walls, kitchens, cabinets etc. This is the cheapest method to make something look good but will quickly bubble and lift; making it an expensive “after sale” improvement at your expense.

b) Use of wood veneer flooring (as it will lift, is easy for termites etc. to penetrate and make noise when you walk on it.

c) Curtains – make sure that they are not thin and without a separate backing to reduce sunlight.

d) Coffee tables, side tables, wardrobes etc. make sure that these are made from solid wood that is lacquered – to avoid scratches. A cheap trick by developers / sellers is to provide the cheapest, thinnest wood and stain. Needless to say, you are buying something that looks good on the outside but you will pay for it later… Also take note that wardrobes are painted on the inside.

e) You should ask to see a show flat. Ask how long the show flat / apartment is. Check to see if any: paintwork is flaking, cracks in walls/ ceilings, etc. Check water pressure and visually inspect flooring.

f) Ask for workmanship guarantees. There should be a standard 2 year guarantee (with a clause stating how long before the problem will be attended).

g) Always pay money to a lawyer’s escrow account. Not a bank account with ANY relationship of the developer/ seller or that they claim is “escrow”.

Escrow by definition is a third parties account and normally this is done via a lawyer’s bank account NOT A BANK ACCOUNT with a bank – a bank cannot be an escrow agent, unless their is an independent party involved (usually a lawyer). A true escrow account has specific instructions about the release of funds which are usually administered by a lawyer. These should be NOT NEGOTIABLE once agreed. Anything other than a lawyer’s account is a BIG warning sign.

h) If the developer/ seller claims to have rental returns or “condo-tel” operations, ask to see their other rental operations returns. Chances are they will be all based on future operations. If a developer / seller cannot show you an existing operation – Walk away from the deal. Chances are you are being led down a very dark path…

7) If the developer/ seller claims to have facilities or is selling you an existing project note the following:

a) Carefully check their marketing material and what the pictures look like and compare it to what is on site. If there is a gross difference – be careful – ask the seller/ developer when they first started marketing the property. If the property doesn’t look like the pretty pictures you have been shown and the time frame they have been selling is more than 6 months… THINK TWICE about investing. Chances are that your developer / seller is under financed.

b) Check for newspaper articles (or do google searches) and claims that the developer / seller has made on completion dates of facilities etc.

8) Our best advise of all is that if your buying for an investment return – buy from a company that gives you the option for guaranteed rental returns in writing.

9) Another important check: see if your developer has made any past claims (promises) or has negative reports in the newspapers, tv, internet, checking with other people on the site etc. Most importantly, a very bad sign is pending legal action against the company. You can quickly validate any claims by asking around via your lawyer, past buyers, etc.

Other Important Notes:

We have already found many negative media and ongoing buyer reports and/ or pending legal claims (both criminal and corporate) against the following companies below (we also advise checking with the H.L.U.R.B.) to see if your developer/ seller has had any action against them. :

Primetown Property Group Inc., (PPGI), E.G.I. Properties, Pacific Concord Properties Inc. (PCPI) which also operates/ trades under “Lancaster Suites”, or “Lancaster Cebu”,

As a responsible blog, if you wish to clarify the multiple cases filed against the above companies, pending legal claims or you have a potential claim against them; There are a number of lawyers in both Cebu and Manila that are handling multiple cases against the above companies and maybe able to help you.

In Cebu you could contact: Atty. Ronald Bacquiano ph. +63 32 422 6165 email: rsb_lawyer@yahoo.com in Manila: Atty. Rosario Ganitano ph. +63 919 481 6450

We would welcome you to list any other companies that you have had a bad experience with so we can check and if validated, we will also post on this growing list.

In the meantime, we hope to have shined a light on some of the darkness that unfortunately exists in some developers/ sellers in this market.

Happy condo hunting.

Thanks, Cebu Property