DOCUMENTARY REQUIREMENTS AND PROCEDURES
CASH PAYMENT
DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To faciltate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent:
1. Signed Reservation Agreement and Reservation Fee Receipt
2. Signed Client Registration Form.
3. Signed Computation sheet.
4. Photocopy of either Tax Identification No. or BIR Form 1904 (for titling purpose)
5. Photocopy of any valid Government issued ID/s with signature.
6. Notarized Special Power of Attorney (SPA) for International accounts if the buyer is not available to sign the contract.
7. Proof of Billing Address. (must be latest billing statement)
Once all requirements have been submitted, your Sales Agent shall endorse your documents and all other necessary requirements to the Documents and Inventory Control Department for the preparation of the Deed of Absolute Sale (DOAS).
All requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
Once your documents have been properly endorsed, it will usually take 2 to 3 days to prepare your DOAS.
DAYS 8 TO 15
Your DOAS is now ready to be released, which you will be given seven (7) days to review. Should the documents be in order, you will need to sign the DOAS and return it to your Sales Agents with corresponding dated check payment.
RELEASE OF CLEARANCE FOR TURN OVER:
Upon clearance of the full payment, you will be issued a Clearance for Turnover. You will then be endorsed to the Turnover Department for unit inspection.
For cash buyers of Non-RFO projects, there will be a Php50,000.00 retention amount that will be payable upon RFO of the unit purchased (to complete the total contract price).
IN-HOUSE FINANCING and BANK FINANCING TERM:
DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To faciltate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent:
1. Signed Reservation Agreement and Reservation Fee Receipt
2. Signed Client Registration Form.
3. Signed Computation sheet.
4. Photocopy of either Tax Identification No. or BIR Form 1904 (for titling purpose)
5. Photocopy of any valid Government issued ID/s with signature.
6. Notarized Special Power of Attorney (SPA) for International accounts if the buyer is not available to sign the contract.
7. Proof of Billing Address. (must be latest billing statement)
Once all requirements have been submitted, your Sales Agent shall endorse your documents and all other necessary requirements to the Documents and Inventory Control Department for the preparation of the Contract To Sell (CTS).
All requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
Once your documents have been properly endorsed, it will usually take 2 to 3 days to prepare your CTS.
DAYS 8 TO 15
Your CTS is now ready to be released, which you will be given seven (7) days to review. Should the documents be in order, you will need to sign the CTS and return it to your Sales Agents with corresponding Post- Dated Checks (PDC's) to cover the entire down payment:
- If the unit is still under construction, PDC's should cover the entire downpayment period.
- If the unit is ready for occupancy (RFO), minimum of 24 PDC's.
- If chosen payment method is cash upon turnover (RFO or Non-RFO) PDC's should cover the entire down payment period and balance.
- If chosen payment method is through bank financing, PDC's should cover the entire down payment period.
- If payment period is under 10yrs in-house financing, PDC's should cover the entire down payment and the first 5 years monthly amortization.
Should the documents be in order, you will need to sign the CTS and return it to your Sales Agents
DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To faciltate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent:
1. Signed Reservation Agreement and Reservation Fee Receipt
2. Signed Client Registration Form.
3. Signed Computation sheet.
4. Photocopy of either Tax Identification No. or BIR Form 1904 (for titling purpose)
5. Photocopy of any valid Government issued ID/s with signature.
6. Notarized Special Power of Attorney (SPA) for International accounts if the buyer is not available to sign the contract.
7. Proof of Billing Address. (must be latest billing statement)
Once all requirements have been submitted, your Sales Agent shall endorse your documents and all other necessary requirements to the Documents and Inventory Control Department for the preparation of the Deed of Absolute Sale (DOAS).
All requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
Once your documents have been properly endorsed, it will usually take 2 to 3 days to prepare your DOAS.
DAYS 8 TO 15
Your DOAS is now ready to be released, which you will be given seven (7) days to review. Should the documents be in order, you will need to sign the DOAS and return it to your Sales Agents with corresponding dated check payment.
RELEASE OF CLEARANCE FOR TURN OVER:
Upon clearance of the full payment, you will be issued a Clearance for Turnover. You will then be endorsed to the Turnover Department for unit inspection.
For cash buyers of Non-RFO projects, there will be a Php50,000.00 retention amount that will be payable upon RFO of the unit purchased (to complete the total contract price).
IN-HOUSE FINANCING and BANK FINANCING TERM:
DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To faciltate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent:
1. Signed Reservation Agreement and Reservation Fee Receipt
2. Signed Client Registration Form.
3. Signed Computation sheet.
4. Photocopy of either Tax Identification No. or BIR Form 1904 (for titling purpose)
5. Photocopy of any valid Government issued ID/s with signature.
6. Notarized Special Power of Attorney (SPA) for International accounts if the buyer is not available to sign the contract.
7. Proof of Billing Address. (must be latest billing statement)
Once all requirements have been submitted, your Sales Agent shall endorse your documents and all other necessary requirements to the Documents and Inventory Control Department for the preparation of the Contract To Sell (CTS).
All requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
Once your documents have been properly endorsed, it will usually take 2 to 3 days to prepare your CTS.
DAYS 8 TO 15
Your CTS is now ready to be released, which you will be given seven (7) days to review. Should the documents be in order, you will need to sign the CTS and return it to your Sales Agents with corresponding Post- Dated Checks (PDC's) to cover the entire down payment:
- If the unit is still under construction, PDC's should cover the entire downpayment period.
- If the unit is ready for occupancy (RFO), minimum of 24 PDC's.
- If chosen payment method is cash upon turnover (RFO or Non-RFO) PDC's should cover the entire down payment period and balance.
- If chosen payment method is through bank financing, PDC's should cover the entire down payment period.
- If payment period is under 10yrs in-house financing, PDC's should cover the entire down payment and the first 5 years monthly amortization.
Should the documents be in order, you will need to sign the CTS and return it to your Sales Agents
RELEASE OF CTS
Thirty (30) to Sixty (60) days from the date of closing the sale with complete documents.
For In-House Financing, upon clearing of the required down payment and submission of complete PDC's (60) or equivalent to 5years term, you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department unit inspection.
BANK FINANCING PAYMENT TERM:
For Direct Bank Financing, a duly accomplished loan application form with the following pre-approval requirements must be submitted to your Sales Agents, preffered accredited bank, or DMCI Homes Bank Fiancing Helpdesk four (4) months before the due date of the bank financing schedule for processing of your bank loan approval.
IF EMPLOYED WITHIN THE PHILIPPINES
1. Certificate of Employment (COE) stating annual salary and position.
2. Latest Income Tax Return (ITR)
3. Pay Slips (past 3months)
4. Proof of Billing Address (must be the latest billing statement)
5. Bank Statements.
IF OVERSEAS FILIPINO WORKERS (OFW)
1. POEA Authenticated Contract (seaman)
2. COE Authenticated by Philippine Consulate (direct hired)
IF SELF-EMPLOYED
1. Business Name (DTI-Certified) or SEC Registration
2. Articles of Incorporation and By-Laws with SEC Registration Certificates
3. List of Trade References (at least 3 names and contact numbers of major suppliers and/or customers)
4. Audited Financial Statements for the past two (2) years.
5. Bank Statements for the past six (6) months.
6. Proof of Billing Address (must be the latest billing statement)
IF PRACTICING DOCTOR
1. Clinic address/es and schedule.
2. Bank Statement for the past six (6) months.
IF INCOME IS FROM RENTAL OF PROPERTIES
1. List of tenants and rental amount.
2. Complete address/es of properties being rented.
3. Bank Statements for the past six (6) months
When approved by your bank, you will be issued a Letter of Guaranty (LOG) which must be submitted to the Fiancing Department.
Release of your loan normally takes five (5) to seven (7) working days from receipt of conformed LOG, settlement and submission of the following post-approval requirements.
For Direct Bank Financing Direct, Bank Financing is available only through the following accredited banks:
Based on the terms of payment agreed upon on your reservation agreement or your Contract to Sell, you'll be required to begin paying your down payment 30 days after the reservation date.
Minimum down payment required:
from the 16-22nd day of the month, the down payment is due every 22nd of the month . Meanwhile, if the reservation date is from the 23rd to the end of the month, the down payment is due on the 30th of the month or 28th if February.
AVAILABLE MODE OF PAYMENTS ARE:
1. For Mid-Rise Condominium minimum of 10% up to 30% Downpayment
2. For High-Rise Condominium minimum of 20% up to 30% Downpayment
3. Cash Payments with 10% Discounts
Post dated checks, to cover monthly amortization for Pre-Selling Projects (Maximum of sixty [60] or Minimun of twenty four [24] checks for Ready for Occupancy Projects). Local buyers are required to issue post dated checks.
For In-House Financing, upon clearing of the required down payment and submission of complete PDC's (60) or equivalent to 5years term, you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department unit inspection.
BANK FINANCING PAYMENT TERM:
For Direct Bank Financing, a duly accomplished loan application form with the following pre-approval requirements must be submitted to your Sales Agents, preffered accredited bank, or DMCI Homes Bank Fiancing Helpdesk four (4) months before the due date of the bank financing schedule for processing of your bank loan approval.
IF EMPLOYED WITHIN THE PHILIPPINES
1. Certificate of Employment (COE) stating annual salary and position.
2. Latest Income Tax Return (ITR)
3. Pay Slips (past 3months)
4. Proof of Billing Address (must be the latest billing statement)
5. Bank Statements.
IF OVERSEAS FILIPINO WORKERS (OFW)
1. POEA Authenticated Contract (seaman)
2. COE Authenticated by Philippine Consulate (direct hired)
IF SELF-EMPLOYED
1. Business Name (DTI-Certified) or SEC Registration
2. Articles of Incorporation and By-Laws with SEC Registration Certificates
3. List of Trade References (at least 3 names and contact numbers of major suppliers and/or customers)
4. Audited Financial Statements for the past two (2) years.
5. Bank Statements for the past six (6) months.
6. Proof of Billing Address (must be the latest billing statement)
IF PRACTICING DOCTOR
1. Clinic address/es and schedule.
2. Bank Statement for the past six (6) months.
IF INCOME IS FROM RENTAL OF PROPERTIES
1. List of tenants and rental amount.
2. Complete address/es of properties being rented.
3. Bank Statements for the past six (6) months
When approved by your bank, you will be issued a Letter of Guaranty (LOG) which must be submitted to the Fiancing Department.
Release of your loan normally takes five (5) to seven (7) working days from receipt of conformed LOG, settlement and submission of the following post-approval requirements.
For Direct Bank Financing Direct, Bank Financing is available only through the following accredited banks:
- BDO
- BPI / BPI Family Bank
- PNB
- UCPB
- EASTWESTBANK
- CHINABANK / CHINA BANK SAVINGS
- PSBANK
- ASIA UNITED BANK
- MAYBANK
- MALAYAN BANK
- SECURITY BANK SAVINGS
- METROBANK
- HSBC
- RCBC SAVINGS BANK
- BANK OF COMMERCE
- PHILIPPINE BUSINESS BANK
- ROBINSONS BANK
Based on the terms of payment agreed upon on your reservation agreement or your Contract to Sell, you'll be required to begin paying your down payment 30 days after the reservation date.
Minimum down payment required:
- Mid-rise condominium units 10%
- High-rise condominium units 20%
- Lot and House & Lots 20% to 30%
from the 16-22nd day of the month, the down payment is due every 22nd of the month . Meanwhile, if the reservation date is from the 23rd to the end of the month, the down payment is due on the 30th of the month or 28th if February.
AVAILABLE MODE OF PAYMENTS ARE:
1. For Mid-Rise Condominium minimum of 10% up to 30% Downpayment
- 10%DP – 90% Balance with 2% Discount
- 15%DP – 85% Balance with 2.5% Discount
- 20%DP – 80% Balance with 3% Discount
- 30%DP – 70% Balance with 4% Discount
- 40%DP – 60% Balance with 5% Discount
2. For High-Rise Condominium minimum of 20% up to 30% Downpayment
- 20%DP – 80% Balance
- 30%DP – 70% Balance with 4% Discount
- 40%DP – 60% Balance with 5% Discount
- 50%DP – 50% Balance with 6% Discount
3. Cash Payments with 10% Discounts
Post dated checks, to cover monthly amortization for Pre-Selling Projects (Maximum of sixty [60] or Minimun of twenty four [24] checks for Ready for Occupancy Projects). Local buyers are required to issue post dated checks.
Step#3 How to Prepare your Documentary Requirements
A. How To Make A Cash Payment for Ready For Occupancy and Pre-Selling Projects.
1. Within Days 1-2 (from Reservation Date)
To complete the reservation transaction of your unit, you must submit the following documents to your PC to facilitate the documentation process:
2. Within Days 7 to 15 (from Reservation Date)
Once your documents have been properly endorsed, it will usually take 2 to 4 business days to prepare your DOAS or CTS. While your DOAS or CTS is being drafted, we will send you a copy of the Reservation Agreement and our Welcome Letter to thank you for choosing DMCI Homes and to remind you that all documentary requirements and payments must be completed within the 30-day timeframe.
3. Within Days 16 to 30 (from Reservation Date)
At this time, your Deed of Absolute Sale will be released to you. You will be given to review the Deed Of Absolute Sale or Contract to Sell.
When the documents are in order, you will need to sign and return these to your PC.
When the full payment has been cleared, you will be issued a Clearance for Turnover for Ready for Occupancy condo. You will then be endorsed to our PMO-Turnover Group so you can inspect your unit.
B. How To Use In House Financing
1. Within Days 1 to 7 (from Reservation Date)
To complete the reservation transaction of your unit, you must submit the following documents to your PC to facilitate the documentation process:
- One ID only if Government Issued
2. Within Days 7 to 15 (from Reservation Date)
Once your documents have been properly endorsed, it will usually take 2 to 4 business days to prepare your CTS. While your CTS is being drafted, we will send you a copy of the Reservation Agreement and our Welcome Letter to thank you for choosing DMCI Homes and to remind you that all documentary requirements and payments must be completed within the 30-day timeframe.
3. Within Days 16 to 30 (from Reservation Date)
At this time, your CTS will be released to you. You shall be given to do the following:
When the required down payment has been cleared, you will be issued a Clearance for Turnover. You will then be endorsed to our PMO-Turnover Group so you can inspect your unit.
C. How To Use Direct Bank Financing
1. Once you have chosen your preferred bank from the list of DMCI Homes accredited banks, your PC will secure an application form that you will need to fill out.
2. Your PC will closely coordinate with you on the bank requirements you will need to submit once you have duly accomplished the application form. The following are the list of requirements required by most banks:
a. Information on Personal Data and Income
If Employed (within the Philippines)
3. After submitting your requirements to your PC, you will wait for notification of loan approval from your PC, which normally takes 10 to 15 working days.
4. Once you have secured the bank’s loan approval, kindly submit the following requirements:
a. Signed bank loan documents
- For Condominiums, Fire/Earthquake Insurance endorsement, policy and photocopy of the Official Receipt can be obtained from the Office of the Property Manager.
- For Completed House & Lot, Townhouse, insurance should be obtained from a reputable / accredited insurance company.
c. Pay bank charges:
d. Our finance department will require the following requirements:
5. Please wait for the release of loan proceeds, which normally takes 10 to 15 working days from receipt of LOG from settlement of post-approval requirements.
Other Reminders:
1. Within Days 1-2 (from Reservation Date)
To complete the reservation transaction of your unit, you must submit the following documents to your PC to facilitate the documentation process:
- Your signed Reservation Agreement and Reservation Fee Receipt
- Signed Computation Sheet
- Photocopy of Passport
- Either a photocopy of your Tax Identification No. (TIN) or BIR Form 1904
- Photocopy of one (1) valid Government Issued ID
- Notarized Special Power of Attorney (SPA), if applicable
- Proof of Billing Address.
2. Within Days 7 to 15 (from Reservation Date)
Once your documents have been properly endorsed, it will usually take 2 to 4 business days to prepare your DOAS or CTS. While your DOAS or CTS is being drafted, we will send you a copy of the Reservation Agreement and our Welcome Letter to thank you for choosing DMCI Homes and to remind you that all documentary requirements and payments must be completed within the 30-day timeframe.
3. Within Days 16 to 30 (from Reservation Date)
At this time, your Deed of Absolute Sale will be released to you. You will be given to review the Deed Of Absolute Sale or Contract to Sell.
When the documents are in order, you will need to sign and return these to your PC.
When the full payment has been cleared, you will be issued a Clearance for Turnover for Ready for Occupancy condo. You will then be endorsed to our PMO-Turnover Group so you can inspect your unit.
B. How To Use In House Financing
1. Within Days 1 to 7 (from Reservation Date)
To complete the reservation transaction of your unit, you must submit the following documents to your PC to facilitate the documentation process:
- Your signed Reservation Agreement and Reservation Fee Receipt
- Signed Computation Sheet
- Photocopy of Passport
- Either a photocopy of your Tax Identification No. (TIN) or BIR Form 1904
- Photocopy of valid IDs
- One ID only if Government Issued
- Notarized Special Power of Attorney (SPA), if applicable
- Proof of Billing Address
2. Within Days 7 to 15 (from Reservation Date)
Once your documents have been properly endorsed, it will usually take 2 to 4 business days to prepare your CTS. While your CTS is being drafted, we will send you a copy of the Reservation Agreement and our Welcome Letter to thank you for choosing DMCI Homes and to remind you that all documentary requirements and payments must be completed within the 30-day timeframe.
3. Within Days 16 to 30 (from Reservation Date)
At this time, your CTS will be released to you. You shall be given to do the following:
- Review and evaluate the terms and conditions in the Contract to Sell (CTS)
- Prepare the required number of Post-Dated Checks.
When the required down payment has been cleared, you will be issued a Clearance for Turnover. You will then be endorsed to our PMO-Turnover Group so you can inspect your unit.
C. How To Use Direct Bank Financing
1. Once you have chosen your preferred bank from the list of DMCI Homes accredited banks, your PC will secure an application form that you will need to fill out.
2. Your PC will closely coordinate with you on the bank requirements you will need to submit once you have duly accomplished the application form. The following are the list of requirements required by most banks:
a. Information on Personal Data and Income
If Employed (within the Philippines)
- Certificate of Employment (COE) indicating annual salary and position
- Latest Income Tax Return (ITR)
- Pay slips (last two months)
- Proof of Billing Address (e.g. Meralco, credit card, etc.)
- If Overseas Filipino Worker (OFW)
- POEA Authenticated Contract (seaman)
- COE Authenticated by Philippine Consulate (direct-hired)
- If Self-Employed
- Business Name (DTI) or SEC Registration
- Articles of Incorporation and By-laws with SEC Registration Certificates
- List of Trade References (at least 3 names & telephone numbers of major suppliers &/or customers)
- Audited Financial Statements for the past two years
- Bank Statement for the last six months
- Proofs of billing address (e.g. Meralco, credit card, etc.)
- Clinic address/es and schedule
- Bank Statement for the last six months
- If Income is from Rental of Properties
- List of tenants and rental amounts
- Complete address/es of properties being rented
- Bank Statement for the last six months
- Two (2) clear photocopy sets of Transfer Certificate of Title (all pages including blank pages with the book and page/volume number indicated on the front page)
- Photocopy of Condominium Certificate of Title (CCT)
- Certificate of Consent and updated payment of Monthly Dues from Condo Corp.
3. After submitting your requirements to your PC, you will wait for notification of loan approval from your PC, which normally takes 10 to 15 working days.
4. Once you have secured the bank’s loan approval, kindly submit the following requirements:
a. Signed bank loan documents
- Deed of Assignment, promissory note, Real Estate Mortgage, Special Power of Attorney, etc.
- Express conformity to the Letter of Guarantee (LOG)
- Post-dated checks
- Mortgage Redemption Insurance (MRI)
- For Condominiums, Fire/Earthquake Insurance endorsement, policy and photocopy of the Official Receipt can be obtained from the Office of the Property Manager.
- For Completed House & Lot, Townhouse, insurance should be obtained from a reputable / accredited insurance company.
c. Pay bank charges:
- Documentary Stamp Tax
- Notarial Fees
- Mortgage Fees
d. Our finance department will require the following requirements:
- Issue post dated checks (PDC) payable to the Developer to cover the down payment/equity portion
- Settle unpaid equities
- Settle transfer fees to the Developer/PC
- Sign Contract to Sell/Deed of Sale
5. Please wait for the release of loan proceeds, which normally takes 10 to 15 working days from receipt of LOG from settlement of post-approval requirements.
Other Reminders:
- Your PC should ensure that documents are submitted to the Finance Department within thirty (30) days from your reservation date. If your documents are submitted after 30 days from your Reservation date, your account will automatically be converted to In-House financing.
- Target drawdown date is within 60 days from reservation date or 30 days after full payment of required DP.
Download Buyers Guide
-At DMCI Homes, we are looking forward to assist you at your most convenient time, simply fill the inquiry form or set an appointment, so we can make a good arrangement in advance.
| local-buyers-doc.pdf |