A License to Sell (LTS) is a certification obtained by a property developer from the Housing and Land Use Regulatory Board (HLURB) or now known as DHSUD. Part of the mandate of this agency is to register and license subdivision and condominium projects, farm lots, memorial parks, and columbaria. They are also tasked to monitor development and construction of registered/licensed projects. This ensures that the condominium project when constructed conforms with the National Building Code of the Philippines and its Implementing Rules and Regulations.
Without license to sell, developers are not allowed to promote projects. That is why you see disclaimers in their project presentations, for announcement purposes only.
So how do you check if the project has an LTS?
You can ask your real estate agent about. Real estate agents should also not endorse properties without license to sell but to make sure, you ask them about it.
If you saw the project promoted in social media, The LTS should be the first question you should ask.
You can also check the LTS online at hlurb.gov.ph/online-inquiry/ and click on list of projects issued with license to sell. But the list might not be updated especially for projects issued with LTS this year.
Then there is the temporary license to sell. This was stipulated under board resolution no 756, series of 2003, that provided for the issuance of a temporary license to sell or TLS to a condominium project and allowed the sale of condominium units to the public prior to the issuance of the projects building permit by the local government unit; subject however to certain conditions set forth in the said Board Resolution intended to safeguard the rights, interest and welfare of the unit buyers in the event a building permit is eventually not issued.
If developers say that they have been issued with LTS and you can’t find it in the HLURB or DHSUD database, ask for a copy of the LTS to prove their claim or you call or go to your nearest HLURB or DHSUD office to confirm.
OSHDP Affordable Housing Summit 2021: The Home EveryJuan Deserves
Welcome to Day One of OSHDP Affordable Housing Summit 2021: The Home EveryJuan Deserves!
This event is presented by the Organization of Socialized and Economic Housing Developers PH (OSHDP), together with The Global Filipino Investors (TGFI). Learn from 30+ industry experts and experience a remarkable learning opportunity!
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