Housing Secretary Jose Rizalino Acuzar stressed that real estate developers must secure Licenses to Sell (LS) and Certificates of Registration (CR) from DHSUD prior to the selling of real estate projects to ensure that it passed the minimum standards as required by the law.
“Real estate projects without LS-CR are prone to risks which include undersized lots, low quality units, issues in land titling, and limited access to basic utilities and services,” Acuzar explained.
“We encourage home buyers to be vigilant, and demand for these documents (LS and CR) before letting go of their hard-earned money,” he added.
According to DHSUD-Housing and Real Estate Development Bureau, real estate projects that require LS/CR from DHSUD include subdivision lots, house and lot, condominium units, socialized housing and town houses. These documents are required before selling of units is allowed.
Selling of memorial lots, colombarium, farm lot subdivision, commercial subdivision and industrial subdivision is also being regulated by DHSUD under other types of real estate projects.
Acuzar has committed to improve the implementation and monitoring of existing regulations set by DHSUD in partnership with other government agencies concerned to protect home buyers.
Under PD 957, selling without LS/CR is punishable with stiff administrative fines and is considered a penal offense subject to the filing of appropriate criminal charges. (dshud/pia-ncr)
