1) How much is the reservation fee?
2) What are the initial documents I need to submit to officially reserve a Condominium Unit with the Developer?
Buyer should submit the following reservation documents to officially reserve a Unit:
a. Reservation Fee
b. Photocopies of valid government - issued ID’s of Principal Buyer/s and Spouse/s (if applicable) bearing their photos and signatures. Valid government issued ID may be Passport, Driver’s
License, GSIS ID, SSS ID, Professional Regulatory Commission, Tax Identification Number, Senior Citizen, Postal or others.
c. Completely filled out and signed BIR 1904 (individual) or BIR 1903 (company) (form to be provided by servicing Sales Agent)
d. Signed Reservation Application
e. Fully accomplished Buyer’s Information Sheet
3) How long is the validity of the said Unit reservation?
The reservation is valid only for thirty (30) days from the date of settlement of the reservation fee payment.
4.) If I decide to cancel the reservation, will my Reservation Fee be refunded or transferred to my preferred Buyer?
No, the reservation fee is non-refundable and non-transferrable. This shall be forfeited once no succeeding payments are made after the reservation fee as provided for in the Reservation Application.
5.) Can I name the Unit purchase under my child who is a minor?
Yes, on the condition that the parent or someone of legal age shall stand as his/her legal guardian who will sign contracts in behalf of the minor since he/she is not yet qualified to enter into any contract until he/she is of legal age. [NoIcon Annotation]
6) What are the available payment terms offered by the Developers to their Buyers?
Cash Term, Bank Financing Term, Deferred Cash or Installment Terms and No Downpayment Term Please contact us for more details.
8) Can I change my original financing scheme if I decide to?
Yes, Buyer can change or restructure his/her term but subject to Management’s approval and a processing fee will be charged to the buyer.
9) My monthly down payment/amortization?
The Buyer is required to issue complete Postdated Checks for his/her scheduled downpayment/amortizations.
10) How can I upgrade my Unit purchase (e.g. transfer from 1BR to 2BR)?
Once the Developer has confirmed that the Buyer’s new preferred unit is still available, the Buyer will be required to submit a written request. If approved, the Buyer needs to execute a new contract pertaining to the upgraded unit.
11) How about downgrading?
The same process as in the upgrading of purchase will be followed. However, all the expenses incurred by the Developer (commission, incentives, penalties, etc.) and the downgrading fee shall be deducted from the Buyer’s total payments on the original Unit before crediting the remaining amount of total payments made, to Buyer’s unit.
12) When does a Unit purchase become past due?
Accounts are considered past due under the following conditions, in relation to the settlement of the scheduled down payment/amortization/lump sum balance:
a. non-payment
b. late payment
c. short payment
13) Will there be refund of payments made for my Unit purchase which was cancelled due to either voluntary withdrawal or continued default in payment?
All payments made shall be forfeited once purchase has been cancelled and the Unit will be opened in the sales inventory and offered to other prospective Buyers.
14) What are the requirements I need to qualify for Unit turnover?
Unit turnover can be scheduled upon the Buyer’s full payment of the contract price (including penalties and interests, if applicable), submitted all the required sales documents and paid the related Advance Registration Charges (ARC).
15) Can I request for an early unit turnover even if I have not fully settled the contract price?
The Buyer can request for an early turnover but is still subject to Management’s approval upon compliance with specific requirements.
16) Will I be allowed to inspect the Unit before the actual turn-over?
The Customer Relations Department (CRD) of the Developer will coordinate with the Buyer for the schedule of inspection and turnover of the Unit. Any defects noted during the inspection will be listed down and will be attended to immediately by the Developer. CRD will inform the Buyer of the new turnover schedule upon completion of the items subject for repair and rectification.
17) Who are the only ones allowed by the Developer to accept the Unit for turnover?
Only the Buyer, his Spouse, his attorney-in-fact or his representatives with written authorization are allowed to accept the Unit for turnover.
18) Can I have my Unit rented out?
Yes, the Buyer may opt to have the Unit rented out. The Buyer may opt to personally find a lessee for the Unit or may get intouch with the Developer’s accredited Management Company which may assist in finding a lessee. The Buyer is required to give a copy of the lease contract to the Building Administrator for their file and reference.
19) How much is the average monthly Condominium Association Dues and what does it cover?
Monthly Association Dues vary in every project, depending on the operating expenses of the Building. Association Dues are used to defray the cost to maintain and operate the common areas and facilities of the Building based on budgetary cost for administration/management fees, janitorial, security, taxes and licenses, insurances, real estate tax, maintenance of equipment water distribution, garbage collection, maintenance of sewage treatment plant and other miscellaneous expenses.
