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LGU-Loon alerts buyers of real estate

Amid the recent financial scam that has victimized many Boholanos, including a good number of Loonanons, the Local Government Unit of Loon has committed itself to preventing the proliferation of other forms of uncertain trading from happening, and protecting the local residents through an aggressive public awareness and information dissemination campaign.
Recent reports reaching the LGU reveal some ongoing ambiguous activities involving the marketing and selling of subdivided lots located in the Municipality allegedly perpetrated by real estate or subdivision developers who have yet to secure local accreditation by the Office of the Sangguniang Bayan, license to operate business from the Office of the Mayor, and license to sell from the Department of Human Settlement and Urban Development (DHSUD).

Philippine Law requires any real estate developer to secure documentary requirements prior to engaging in the operation of any real estate project in a locality. To date, however, no real estate developer has been given approval and accreditation by the Sangguniang Bayan and the Office of the Mayor. Despite this, the LGU aggressively pursues its invitation to prospective investors to put up their respective businesses in Loon, and requests that they first comply with the documentary requirements.

Meanwhile, as a precautionary measure, the LGU advises prospective buyers and those who have already purchased subdivided lots or real estate development projects or housing units in Loon to check first with the Sangguniang Bayan (Contact No.: 09464461900 or message us at facebook : Sangguniang Bayan Loon) to confirm the legal status of the real estate development project before dealing with developers and their brokers. This advice supports the enforcement of Presidential Decree 957 which protects subdivision and condominium buyers from fraudulent real estate developers.

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