Bank Financing Requirements

INITIAL REQUIREMENTS WHEN RESERVING A UNIT

  1. Reservation Agreement (RA)
  2. Dully filled-out and signed Buyer’s Information Sheet (BIS).
  3. Signed Schedule of Payment (Computation Sheet)
  4. Reservation Fee (Choose one – Cash; Dated Check; Credit Card/Debit Card; Bills Payment or Proof of Remittance for International Sales)


ADDITIONAL REQUIREMENTS – Upon Reservation

  • For Corporate Buyer – BIR 1903 / 2303 (Validated by BIR)
  • For Foreign Buyers with balance which be paid thru bank financing – Waiver
  • For Individual buyer with payment schemes of total payments within the year of sale – BIR 1904
    1. Spot Cash
    2. Spot Deferred Cash whose payment term forecasted to reach 25% of total payments within the year of sale.
    3. The Buyers TIN shall be validated to ensure that creditable Withholding Taxes (CWT) will be paid promptly and the account of the correct party.


BANK FINANCING REQUIREMENTS
(To be submitted at least 3 months before the end of DP Term

For Locally Employed Buyers:

  1. Duly filled out loan application form
  2. Duly filled out insurance application form
  3. Certificate of Employment with Compensation
  4. ITR – latest
  5. Valid ID’s – government issued
  6. Marriage contract, ( if married )
  7. Bank Statement or Proof of Billings


For Self-Employed Buyers or with Business:

  1. Duly filled out loan application form
  2. Duly filled out insurance application form
  3. Articles of Inc. and By-laws
  4. ITR – latest
  5. Valid ID’s government issued – of signatory
  6. Secretary’s Certificate authorizing representative
  7. Latest Bank statement – at least 6 months
  8. List of Suppliers ( for buy & sell )

For Buyers Working Abroad:

  1. Duly filled out loan application form
  2. Duly filled out insurance application form
  3. Certificate of Employment with Compensation or Job Contract
  4. Valid ID’s- government issued
  5. Marriage Contract, if married
  6. Consularized SPA- bank Form
  7. Bank statement or Proof Billings


For Foreigner Buyers

  1. Valid ID
  2. Alien Certificate of Registration (ACR)
  3. Must have Special Power of Attorney (SPA) or a Filipino Co-Maker
  4. Must be below 60 years old upon application and must not exceed 70 years old upon loan maturity
  5. Employed and with permanent status or engaged in own business operating profitably for at least 2 years

FREQUENTLY ASKED QUESTIONS

  1. When can a unit owner move in to their unit?– Buyers will be allowed to move-in after the following conditions are met:
  • Spot Cash Buyers – Full payment of Total contract Price (TCP)
  • Deferred Cash Buyers – Payment of at least 50% of TCP and submission of complete post-dated checks (PDCs) for balance; Payment of Other Charges
  • In-House Financing Buyers – Payment of at least 50% of TCP, submission of complete post-dated checks (PDCs) for balance and clearance via credit evaluation; Payment of Other Charges
  • Bank & Other External financing Buyers – Full payment of down payment and actual loan release covering full lump sum balance.