I never thought I would actually encounter this kind of a listing. . . .
A few weeks ago, a fellow RESP and I got a real property listing from a house owner. It's a beautiful house and lot in a very nice location in Pasig City. I was suppose to offer the property to a client, but decided to first check the location of the property with the PHIVOLCS-Valley Fault System Maps just to make sure the property doesn't straddle on an earthquake fault line. Pasig City has its own share of this geological anomaly being part of the West Valley Fault Line. I'm glad I checked because I found out that the property is literally on the edge of an active fault line.
According to Phivolcs (Philippine Institute of Volcanology and Seismology), a house near a fault line is safe as long as the house has a buffer area of five or more meters from the actual fault line.
Many real estate service practitioners are familiar with earthquake fault lines, but many are not familiar with the availability of the Valley Fault Maps which give the exact location of the fault lines in cities and towns which are part of the West Valley Fault Line. I'm sure the owner of the house who gave me the listing is also not familiar with the PHIVOLCS-Valley Fault System Maps. And I'm very sure that he didn't know the lot he built his house on lies on a fault line. He would never have built a house in that lot if he knew about it. Perhaps, he recently found out about it and wants to dispose the property.
Anyway, I decided not to offer the property anymore, and exclude it from my listings.
There is an important lesson to learn from this experience, as real estate service practitioners, we need to give due diligence not only on the documents of the properties we deal, but also on the environmental and geological information concerning the properties. RESPs Beware!
|Pasig City Fault Line Map|
Click map to enlarge
|Valley Fault System Index Map|
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