Brighton Court Residential and commercial projected located in Barangay Katangawan, General Santos 270 lot only 4 of which are unsold All agreements with brokers and contractors for the development of the lots were done thru Wessix Holding Corporation May need a HLURB license Broker’s Agreement Broker’s agreement was entered with Richmore o Richmore is a property marketing and development company o Sole prop business of Richard R. Mibulos and Crissamor C. Saya Segregation of roles o Richmore Sell all lots in the subdivision Lend sales support Maintain a sales office Provide and prepare property document for buyers Assist buyers with title transfer after full payment Carry out a thorough background check on the potential buyers Keep constant communication with the buyer Shoulder all expenses related to sales and marketing Sell the whole subdivision within one year, starting January 18, 2018 Failure to comply will result in a reduction in broker’s profit sharing to 15% Comply with and submit all necessary documents from the buyer as requested by the owner o Mr. M Produce and reproduce marketing materials Cary out site clearing Subdivide the property with the broker’s suggestions through a licensed geodetic engineer Maintain subdivision Construct a simple drainage system Shoulder all expenses related to the development of the property
Agreement provides that brokers should “secure all the necessary permits, licenses, and approvals from the appropriate authorities as may be required for the purpose of implementing the Subdivision Plan”; but this was clarified as not to be the case Revenue sharing of 83%-17%; o Subject to the condition that they sell the entire subdivision within one year o Failure to do so would be reduced to 15% o Refunds will be taken proportionately from each parties’ share Development of the Property Approved subdivision plan
o No approved subdivision plan yet signed by DENR o New project manager Haiza working to secure AUTOCAS plates as of June 7, 2019; request for purchase was approved but unacted on as of June 13 o Subdivision plan needed as part of number permits Land Conversion o All zoning certificates have expired o Haiza has requested for new zoning certifications Warehouse demolition o Warehouse owned by DCTech on property sold to Mr. M has yet to be demolished o Demolition to be done on DCTech’s account o As of May 20, 2019 a follow up was done with bidding supposedly concluded within the week o To date, no demolition has been done o A demand letter has been issued already for the charges o Real property tax remains unpaid at the moment on the portion 10,350 to be paid immediately o Protacio – Broker for the DCTech land deal and looking to be paid for the lot (no contract) o RIchmore was supposed to be exclusive broker and wants to be paid for the lot (enforceable as this is in their contract) o Deed of Conditional Sale Roads o Previous project manager attempted to move the road plans to a new locations not agree upon by RIchmore and buyers o Eventually was reverted back to original plan o However additional costs to reflatten and backfill the construction amounting to Php250,000 was incurred o Haiza mentioned though that the roads may have to be redone if they fall on top of the drainage route Currently checking with previous contractor Sta. Monica, to determine where the project should resume Drainage Plans o Coordinated elevation drainage survery with geodetic engineer Request for funding of the survey has been made – pending Data from the survey will be used for planning and CAD works Site Clearing o Trees, shrubbery and tall grass have grown on the property o Hire workers on a pakyaw basis to clear the grounds Titling and Property Plans Titles will be transferred to the Mr. M o Process usually takes 2 months CMMMLaw trying to expedite proves
o Suggested that a corporation be set up to facilitate the Non-HLURB land division scheme Original TCTs and other pertinent documents will be sent to CMMMLaw for their perusal Relevant contracts to sell for the buyers will be reviewed by CMMMLaw and be revised accordingly Client Interaction / Follow-ups Evelyn in charge of following up with clients on their respective due dates Three months of unpaid amortization would result in the cancellation of the sale o Cancellation notice will be sent Amor said that the clients are made aware during the orientation that the sale should be cancelled due to delinquency Refund of 30% on payments which have been paid for four months of amortization o Refunds are discretionary depending on the situations Collections No report Issues Buyers complaints o Lack of development due to delays o Supposedly October 2018 No proper turnover No progress reports Relationship has deteriorated with Richmore and other contractors due to building delays and missed payments