Have you noticed those unfinished projects in the metropolis? Buyers should deal only with financially stable developers to make sure that their hard-earned savings will not be tied to a project that takes forever to complete.
In installment/No dowpayment scheme, the risk is far greater than the benefits. Because of this, buyers must make sure that they have stable source of funds before signing the reservation form to avoid financial losses.
Some advantages and disadvantages of the installment/NO downpayment scheme are:
Developers can have a regular cash flow from the monthly payments of buyers while buyers can purchase a property with a minimal cash out. Developers can forfeit whatever amount paid by buyers and re-sell the same property even before the project is completed.
Read Maceda Law before purchasing a property thru installment scheme.