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How does the hotel management work?
— Signing of Memorandum of Agreement (MOA) with the Hotel Operator to enroll under the Hotel
Management Program and use of his unit will be locked in for minimum of five (5) years, renewable
— Share of revenues will be received by unit owner, monthly or quarterly
— Other requirements & privileges of hotel unit owner shall be posted later.
How many days in a year can the unit owner use his/her unit?
— Free use for 30 days, nonconsecutive, (minimal fee may be imposed on consumable items)
— This is an estimate only and may vary upon signing of MOA.
What are the requirements?
- Reservation Fee of P20,000.00 (non-refundable; non-transferrable)
- Valid residence certificate / passport
- 2 Valid IDs
- 3 pcs, 1x1 pictures
- Proof of Billing
- Special Power of Attorney, if applicable
- Birth Certicate
- If married: Spouse´s 2 valid IDs; Spouse´s valid residence certificate or passport; Spouse´s 1x1 pictures; Marriage Contract
After submission of the above requirements, signing of Contract to sell shall follow. To avoid the
cancellation of your reservation and forfeiture of your reservation fee, please comply all the above
documents within 30 days from date of reservation, including payment of your first monthly
downpayment.
Signing of Memorandum of Agreement with Hotel Operator (applicable for hotel unit owners).
What are the available Payments and Financing Schemes?
Three (3) available payment terms:
1. Cash
2. In-house financing, maximum term of 5 years.
3. External financing
♦ Bank
♦ Pag-IBIG (Home Development Mutual Fund)
• First monthly downpayment shall commence 30 days from date of reservation.
• 20% Minimum downpayment required, payable in eight (8) equal monthly installments. Depending
on the contract price, minimum monthly downpayment (net of reservation) is Php16,701.00.
• 80% Balance payable for a maximum term of five (5) years in 60 equal monthly payments with
12% interest rate thereon, commencing 30 days from scheduled full downpayment. Depending on the
contract price, minimum monthlydownpayment(net of reservation) is Php33,132.57. If reservation is
made within 1-15th day of the month, the payment is due every 15th day of each month. If the
reservation is made within 16th to the end of the month, payment is due every 30th day of each
month.
Are there any discount? What terms of payment are available?
Several discount packages may be availed depending on terms, as follows:
| Spot Cash |
100% of TCP |
10% Discount |
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| Spot Downpayment |
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30% SPOT DP ; 70% BAL. SPREAD OVER 18 MONTHS @ 0% INTEREST |
2.5% DISCOUNT ON TCP |
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50% SPOT DP ; 50% BAL. SPREAD OVER 18 MONTHS @ 0% INTEREST |
3.5% DISCOUNT ON TCP |
| Easy Installment |
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20% SPOT DP ; 80% BAL. THRU BANK/PAG-IBIG/IN-HOUSE |
3% DISCOUNT ON DP |
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30% SPOT DP ; 70% BAL. THRU BANK/PAG-IBIG/IN-HOUSE |
4% DISCOUNT ON DP |
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40% SPOT DP ; 60% BAL. THRU BANK/PAG-IBIG/IN-HOUSE |
5% DISCOUNT ON DP |
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50% SPOT DP ; 50% BAL. THRU BANK/PAG-IBIG/IN-HOUSE |
6% DISCOUNT ON DP |
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100% SPREAD OVER 18 MOS. @ 0% INTEREST |
2 % DISCOUNT ON TCP |
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20% DP SPREAD OVER 18 MOS. @ 0% INTEREST; 80%BAL. THRU BANK/PAG-IBIG/INHOUSE |
What are the available Mode of Payment?
1. Cash or dated checks
2. Post-dated Checks
3. Manager´ss / Cashier´s Check
4. Online Remittance (for buyers abroad)
When is the unit ready for Turnover?
Within 2013
What do I need to know or do prior to turnover or occupancy?
Requirements:
1. Full downpayment
2. Payment of Move-in Fee of 1.5% of the TCP
3. Signed Contract-to-Sell or Deed of Absolute Sale
4. 24 Post-dated checks of monthly amortization, for in-house financing
5. Letter of Guarantee (LOG) & Notice of Approval of Loan (for external financing)
6. Complete Documentary Requirements
7. Payment of any Outstanding Real Estate Tax due from the unit owner
8. Payment of 1 month association dues and issuance of 11 post-dated checks for the association
dues
Turnover Process
1. Notice of Completion shall be sent to advise client when unit is ready.
2. Unit owner will confirm when he/she may inspect unit, within ten (10) days from receipt of notice.
3. Unit owner along with the property administrator will conduct inspection/punchlisting of the unit.
Any rectification of punchlisted items will be done immediately but completion may vary depending on
nature of punchlisted items.
4. Once unit is acceptable, a Certificate of Acceptance and other documents will be signed by the unit
owner.
5. To avoid any delays with the turnover process, please make sure that all required fees and
deposits are settled before unit turnover.
6. If above turnover requirements are completed, clearance from the Association / Property
Administrator will be issued to the unit owner and owner may already occupy the unit and keys to the
unit will be turned over to the owner.
7. Unit owner shall be provided with the Condominium House Rules and Regulations during the
turnover as guidelines for the operation of the condominium building.
8. Any improvements, alteration, or modifications by the unit owner (that will vary from deliverable
unit) may only beintroduced after actual turnover of unit.
9. Certain warranties may be voided by any unit alteration.
Note:
If the unit owner or representative fails to inspect and accept the unit within thirty (30) days from
date of notice of completion, it shall be deemed that the buyer has automatically accepted the unit.
Unit Acceptance thru a Representative
If the registered buyer is not available on the scheduled turnover of unit, his/her duly authorized
representative can accept the unit in his/her behalf.
Requirements:
1. The representative must be submit a duly notarized Special Power of Attorney (SPA). If unit owner
is out of the country, the SPA must be duly certified and authenticated by the nearest Philipppine
Consulate Office where he/she is residing.
2. Copy of ID of Atttorney-in-fact
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