FAQ
Find answers to your queries from the categories below.
Yes, foreigners are allowed to own condominium units in the Philippines, as stated in Section 5 of Republic Act No. 4726, otherwise known as the Condominium Act.
Yes, on the condition that the parent or legal guardian signs the contract on behalf of the minor. Please contact us for more details.
Yes, you can upgrade your purchase. The Developer will first check if the preferred unit is still available. If it is still available, the Buyer will be required to submit a written request. Once the request is approved, a new contract will be drawn up for the upgraded unit.
Yes. The process to downgrade is similar to that of upgrading a unit purchase. However, all expenses incurred by the Developer (commission, incentives, penalties, downgrading fee, etc.) shall be deducted from the Buyer’s original contract price, in favor of the Developer.
There are several payment terms available – Cash Term, Bank Financing Term, Deferred Cash/Installment Term, and No Down Payment Term. Please contact us for more details as the availability of these payment terms also vary per project.
Yes, you may change or restructure your selected term, but this will also be subject to Management’s approval and we will be charging a minimal processing fee.
Yes, we accept payment in US dollars. The exchange rate shall be based on the date the payment is credited to the Developer’s account.
On or before the due date of the first (1st) monthly amortization, the Buyer is required to submit Postdated Checks for the remaining monthly amortizations (that is, until the end of the payment term).
The developer adheres to provisions as stipulated in Republic Act No. 6552 or the “Realty Installment Buyer Protection Act,” also known as the Maceda Law. This law states that when the Buyer has paid at least two (2) years of installments, the seller/developer shall refund 50% of the total payments made if there is a cancellation on the purchase. For payments less than two years, the provisions as stipulated in the Contract to Sell will prevail.
Reservation fees vary per project from Php ____ to Php ______.
Requirements to officially reserve a unit or lot are as follows:
1. Full payment of the Reservation Fee
2. Photocopy of one (1) valid government-issued IDs of Principal Buyer/s and Spouse/s (if applicable). Valid government-issued IDs with photos and signatures:
3. Fully accomplished and signed Reservation Application
4. Fully accomplished Buyer’s Information Sheet. For purchase under a Corporation, the following additional documents are required:
The reservation is valid for thirty (30) calendar days from the settlement of reservation fee. Kindly submit all the required documents to finalize the unit booking.
No, the reservation fee is non-refundable and non-transferrable. As stated in the Reservation Application, the reservation fee will be forfeited in favor of the Developer if no succeeding payments are received.
Yes, the Hand Over Team will coordinate with the Buyer on the schedule of unit inspection.
Yes, the Buyer may assign a representative to accept the unit on his behalf thru a notarized Special Power of Attorney (SPA). The SPA is also required to bring a valid ID plus photocopy.
Yes, you may have your unit leased out.
Monthly Association Dues vary per project, depending on the operating expenses of the building. Association Dues are used to defray the cost of maintaining and operating the building’s common areas and facilities. These costs include 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.
The unit turnover will be scheduled when all the following conditions are met:
No, this is not allowed. Buyers are encouraged to either avail of bank financing (with accredited banks) or in-house financing to pay the unit in its entirety.
