Here's a template for the letter we sent ALI regarding the cancellation of our CTS for a pre-selling unit. We're doing this to cut losses and get at least 50% of our payments back.
[Date]
[NAME OF PRIMARY BUYER]
[Registered address]
[City, Zip]
[Registered email]
[Registered mobile number]
Request for Cancellation of Contract to Sell and Refund under Maceda Law
To Whom It May Concern,
I am writing to formally request the cancellation of my Contract to Sell (CTS) for a pre-selling condominium unit located at [Property name] – [Unit#].
Over the past [X] years, I have completed paying the downpayment through post-dated checks, amounting to [PHP XXX,XXX.XX].
Due to ongoing financial constraints and our inability to secure a buyer since [month] of this year, I am no longer in a position to proceed with the purchase. As such, I respectfully request the cancellation of the CTS and a refund of at least fifty percent (50%) of the total payments made, in accordance with Section 3(b) of the Maceda Law.
I understand that the law entitles buyers who have paid at least two years of installments to a refund of 50% of total payments made, excluding interest and penalties. I am prepared to comply with any procedural requirements you may have.
Please consider this letter as my formal notice of cancellation. I would appreciate a written confirmation of receipt and the next steps regarding the refund process.
Thank you for your attention to this matter. I hope for your kind understanding and cooperation.
Sincerely,
___________________________
[Purchaser/s name and signature]
Purchasers
Many thanks to copilot of coming up with the letter. I just had to give it a prompt. Now if you're sure with your decision and confirmed you're eligible, just email the signed letter to:
ALI Residential Customer Service
residential.customers@ayalaland.com.ph
It would be best to give them a call beforehand so an agent would be expecting your email already. You may call them at:
+632 8848 5000
Hope this helps 😊