What to do with my preselling (unfinished) condo if I am moving out the Country

I purchased a condo preselling at 0% DOWNPAYMENT promo. I have paid around 6K USD – PHP 300K (9 months). Initially I bought the unit because it was located in a prime area – near CBD, my work and school, has a township, mall, commercial area. I am now set to move abroad without any plans of returning. Should I ask my agent for stop payment to cut loss now?

In our law, I can get a 50% refund after paying it off by 2 yrs. By then I may have a PHP 900K loss vs now PHP 270k.

I want to flip the unit and not wait for it to be completed as it will only be a burden in the future – it is a high end unit. I don’t plan to live and return although I will be working abroad and will be earning a more decent amount so I can still afford to pay it continuously. I can have it rented out though or let my parents live there in case they would want to for their retirement.

submitted by /u/manifestingMD
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I purchased a condo preselling at 0% DOWNPAYMENT promo. I have paid around 6K USD – PHP 300K (9 months). Initially I bought the unit because it was located in a prime area – near CBD, my work and school, has a township, mall, commercial area. I am now set to move abroad without any plans of returning. Should I ask my agent for stop payment to cut loss now? In our law, I can get a 50% refund after paying it off by 2 yrs. By then I may have a PHP 900K loss vs now PHP 270k. I want to flip the unit and not wait for it to be completed as it will only be a burden in the future – it is a high end unit. I don’t plan to live and return although I will be working abroad and will be earning a more decent amount so I can still afford to pay it continuously. I can have it rented out though or let my parents live there in case they would want to for their retirement. submitted by /u/manifestingMD [link] [comments]

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