COMPUTATION AND TIMELINE

• selection of unit location

• payment for Lock-in unit location and price for 30 days

  • protection from price increases

• non-refundable once 30 days has lapsed

• reservation will  be deducted from the contract price once first payment has been made

• needs to be payed after 30 days from reservation

• payment to developer for loan requirement

• usually 20% of the contract price or APPRAISED value

• The term used if the downpayment is paid thru installment

• usually up to 3 to 4 months for RFO

• 24 months for PRE-SELLING

• the 1st equity is the most important and should be be paid after 30 days from reservation to avoid forfeiture of reservation fee

  • • if succeeding equity is missed you will receive a notice of no payment from the developer as warning

    • if you missed another month you will receive a 2nd notice of no payment

    • 3rd time you'll miss payment you will receive a notice of cancellation

• for house and lot, some developers will only start constructing after full downpayment/equity

if you paid for 2 years or at least 50% of the contract price, you can avail a refund of 50%

• loans should be processed within 3 to 6 months before the last payment of equity

a letter received by developers once the loan is approved and funded

• release of payment to the developer

• move-in