COMPREHENSIVE BUYER'S GUIDE

CASH PAYMENT and BANK FINANCING

RESERVATION DATE

Upon reservation of your chosen unit. To facilitate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Property Specialist:

1.Signed Reservation Agreement and Reservation Fee Receipt Signed Client Registration Form

2.Photocopy of either Tax Identification No. (TIN) or BIR Form 1904

3.Photocopy of any valid.

4.2 Government issued ID/s with signature.

5.Notarized Special Power of Attorney (SPA), for local accounts and Consularized SPA for international accounts (if applicable)

Once all requirements have been submitted, your Property Specialist shall endorse your documents and all other necessary requirements to the Accounts Management Department for the preparation of the Contract to Sell (CTS).

All documentary requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled. Once your documents have been properly endorsed, verification of contact information and personal details will be conducted.Accounts Management Department

Prepare the required number of Post-Dated Checks (PDCs) covering your:

1.If unit is still under construction, PDCs should cover the entire down payment period

2.If unit is ready for occupancy (RFO), minimum of 6 or 12 PDCs

3.If chosen payment method is cash upon turnover (RFO or NON-RFO), PDCs should cover the entire down payment period and balance

4.If chosen payment method is through bank financing, PDCs should cover the entire down payment period. .

1. Contact to Sell (CTS)

2. Deed of Absolute Sale (DOAS)

3. Deed of Restrictions (DOR)

4. Computation Sheet

5. Floor Plan

6. Perspective

7. Specifications

8. SPA for Utilities.

Important Reminder

• Must be done within 30 days from the date of reservation

• Should always be at the Head Office

• Present during the Contract Signing :
  

1. Buyer ( spouses if married ) or Attorney in Fact (AIF) if with SPA

2. Representatives from Accounts Management

3. Representatives from PDD

4. Representatives from Customers Service Utility

5. Unit Manager / Broker Coordinator

6. Property Specialists / Accredited Broker

Your title will be processed once the following documentary requirements are submitted and completed. Processing of title takes approximately one (1) year:

• Full payment of Total Contract Price (TCP) and miscellaneous expenses and other related costs

• Receipt of the signed Deed of Absolute Sale (DOAS) from the principal buyer

• Availability of the title and tax declaration c/o MRDI

• The following documents will be released to you after the one (1) year processing period:

• Notarized Deed of Absolute Sale (DOAS)

• Tax Declaration

• Transfer Certificate of Title (TCT)

• Tax Receipt or Tax Clearance (Real Estate Tax)

For accounts with Bank Financing Term, title will be released to the bank where the loan was availed. To receive your title, tax declaration, and notarized DOAS, the following requirements must be presented:

• Two (2) Valid IDs

• If through an Authorized Representative

Special Power of Attorney (SPA)

Two (2) valid IDs of the Authorized Representative

Photocopy of one (1) valid ID of the Principal Buyer

Full settlement of payment for Real Estate Property Tax

• If cash payment, the title will be released within the day

• If check payment, the title will be released upon clearing of check

The buyer is considered delay in payment under the following situations:

1. Failure to pay monthly amortization on time

2. Holding of check or deferment of deposit

3. Bouncing of check payment

Penalty :

• A 2% penalty plus an interest of 3% per month

• In case of holding or deferment of check deposit additional holding fee of P1,000

• 15 years warranty against structural failure and liability from the date of completion

• Poor and defective workmanship on elctrical ,water supply and drainage leakages - six (6) Months ( Initial repairs only )

• Roof Leakages has a warranty up to ten (10) months

• Wear and tear - No warranty

• Any repairs / modifications by the owner without prior approval from the management shall be void

When approved by your bank, you will be issued a Letter of Guaranty (LOG) which must be submitted to the Accounts Management or Financing Department.

Release of your loan normally takes five (5) to seven (7) working days from receipt of conformed LOG, settlement and submission of the following post- approval requirements: