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Buyer’s Guide for FILINVEST DEVELOPMENTS- Property Crest

Buyer’s Guide for  FILINVEST DEVELOPMENTS

This is a guide for Filinvest Property Buyers. Please click the Properties Menu for more listings.

I. Reservation Process

Upon reservation, you will be asked to fill up a Purchase Application Form (PAF), along with this, a reservation fee amounting to 5,000 to 50,000 (depending on the property you are going to reserve) must be made.
Unless there’s a prevailing promo, this is the typical corresponding reservation fees for each type of property:
Socialized House and Lot – 5,000
Affordable Residential Lot – 10,000
Affordable House and Lot – 20,000
Mid-High Residential Lot – 20,000
Mid-High House and Lot – 30,000
High-End Residential Lot – 50,000
High-End House and Lot -50,000

After giving the reservation fee, your agent should provide you with an Acknowledgement Receipt and afterwards, an Official Receipt coming from Filinvest office must be given to you. You and your agent can also go directly to the cashier at Filinvest office to make your reservation.

The reservation is non-refundable and is valid for 30 days only. All reservation fees made are deductible to the Total Contract Price. To complete your reservation, the following documents must be submitted:

1. Completely filled-out Purchase Application Form and Request to Hold Property Form
2. Two (2) Government issued IDs. (Should bear your photo and signature, expired ID’s are not accepted)
3. Special Power of Attorney (SPA), if applicable. If the buyer is currently based abroad, the Special Power of Attorney (SPA) should be consularized.
4. Government issued ID of the Special Power of Attorney holder.

II. Requirements

After the reservation and submission of the Initial Requirements, you will be asked to sign printed documents like Contract to Sell, Deed of Absolute Sale, Deed of Real Estate Mortgage, etc… depending on the type of payment you are going to choose (Please see the terms of payment offered by Filinvest). Along with the signed printed documents, you will also be requested to submit the following:

For Spot Cash and In-House Financing:
1. Birth Certificate if single. Marriage Certificate if married.
2. TIN Number (not applicable for OFWs)
3. Post Dated Check/Checks for Cash and In-house financing, respectively.

For Bank Financing:
Locally Employed
1. Birth Certificate if single. Marriage Certificate if married.
2. TIN Number (not applicable for OFWs)
3. Certificate of Employment and Compensation (COEC)
4. Photocopy of 2 years latest Income Tax Return (ITR)
5. Photocopy of 3 months latest Payslip
6. Bank Statement or Photocopy of Passbook
7. Post Dated Checks

Overseas Filipino Workers (OFWs)
1. Birth Certificate if single. Marriage Certificate if married.
2. Certificate of Employment or Offer Letter
3. Photocopy of 3 months latest Payslip
4. Bank Statement or Photocopy of Passbook
*OFWs are not required to submit PDCs, they can pay their monthly amortization thru remittance centers.

Corporation
1. Certificate of Registration
2. Articles of Incorporation
3. Secretary Certificate
4. One valid photo-bearing government issued ID of each corporate secretaries.
5. Audited Financial Statement (2 years, latest)
6. ITR

III. Payments and Financing

There are 3 payment terms made available to you by Filinvest Land Inc.:

1. Spot Cash Payment (normally, it comes with a discount of 8%)
2. In-House Financing:
5 years @ 13.5% interest
7 years @ 17% interest
10 years @ 10% interest
3. External Financing(below)
Bank
Pag-Ibig. Only socialized projects of Filinvest are accredited to Pag-Ibig Financing.

IV. Modes of Payment

Below are the different modes of payment you can make for the Reservation and/or the Monthly Amortization:

1. Cash, over-the-counter payments
2. Post dated checks to cover monthly amortization. OFWs are not required to submit PDCs.
3. Remittance Center
4. Bank Bills Payment
5. Bank Transfer

 

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