Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To facilitate the documentation process and to complete your unit’s reservation transaction, you must submit the following documents to your Sales Agent:
Signed Reservation Agreement and Reservation Fee Receipt Signed Client Registration Form
Signed Computation Sheet
Photocopy of either Tax Identification No. (TIN) or BIR Form 1904 Photocopy of any valid
Government issued ID/s with signature.
Notarized Special Power of Attorney (SPA), for local accounts and Consularized SPA for international accounts (if applicable)
Deed of Undertaking for international accounts (if applicable) Proof of Billing Address (must be the 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.
DAYS 8 TO 15
Once your documents have been properly endorsed, it will usually take one (1) to two (2) working days to prepare your DOAS. While your DOAS is being drafted, we will send you a copy of the Reservation Agreement.
DAYS 16 TO 30
Your DOAS is now ready to be released, which you will be given fifteen (15) days to review. Should the documents be in order, you will need to sign the DOAS and return it to your Sales Agent.
RELEASE OF DOAS
Photocopy of DOAS: One (1) day upon request
Notarized DOAS: One (1) year from the date of full payment along with the transferred title and tax declaration in your name
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) and the contract will remain as CTS until such time
IN-HOUSE FINANCING and BANK FINANCING
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 facilitate the documentation process and to complete your unit’s reservation transaction, you must submit the following documents to your Sales Agent:
Signed Reservation Agreement and Reservation Fee Receipt
Signed Client Registration Form
Signed Computation Sheet
Photocopy of either Tax Identification No. (TIN) or BIR Form 1904
Photocopy of any valid Government issued ID/s with signature
Notarized Special Power of Attorney (SPA), for local accounts and Consularized SPA for international accounts (if applicable)
Deed of Undertaking for international accounts (if applicable)
Proof of Billing Address (must be the latest billing statement)
Birth Certificate for Minors / Marriage Contract for Newlyweds without Updated IDs
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 documentary requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
DAYS 8 TO 15
Once your documents have been properly endorsed, verification of contact information and personal details will be conducted. Once Notice of Approval has been released, it usually takes one (1) to two (2) working days to prepare your CTS.
DAYS 16 TO 30
Your CTS is now ready to be released and you will be given fifteen (15) days 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 (PDCs) covering your:
If unit is still under construction, PDCs should cover the entire down payment period
If unit is ready for occupancy (RFO), minimum of 24 PDCs
If chosen payment method is cash upon turnover (RFO or NON-RFO), PDCs should cover the entire down payment period and balance
If chosen payment method is through bank financing, PDCs should cover the entire down payment period
If payment period is under 10 years in-house financing, PDCs should cover the entire down payment and the first 5 years monthly amortization
Should the documents be in order, you will need to sign your CTS and return it to your Sales Agent.
RELEASE OF CTS
Notarized CTS: Thirty (30) 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 PDCs (60), 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, preferred accredited bank, or DMCI Homes Bank Financing 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
Certificate of Employment (COE) stating annual salary and position
Latest Income Tax Return (ITR)
Pay Slips (past 2 months)
Proof of Billing Address (must be the latest billing statement)
Bank Statements
IF OVERSEAS FILIPINO WORKER (OFW)
POEA Authenticated Contract (seaman)
COE Authenticated by Philippine Consulate (direct hired)
IF SELF-EMPLOYED
Business Name (DTI-Certified) or SEC Registration
Articles of Incorporation and By-laws with SEC Registration Certificates
List of Trade References (at least 3 names and contact numbers of major suppliers and/or customers)
Audited Financial Statements for the past two (2) years
Bank Statements for the past six (6) months
Proof of Billing Address (must be the latest billing statement)
IF PRACTICING DOCTOR
Clinic address/es and schedule
Bank Statements for the past six (6) months
IF INCOME IS FROM RENTAL OF PROPERTIES
List of tenants and rental amount
Complete address/es of properties being rented
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 Financing 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:
Conformed Letter of Guaranty (LOG) and Deed of Undertaking (DOU)
Signed Loan Documents
Deed of Assignment
Promissory Note
Real Estate Mortgage
Special Power of Attorney
Note: Signed & settled to the bank prior to the release of the Bank Guaranty (Bank Process)
Other requirements
Post-dated checks or Auto-Debit Agreement
Mortgage Redemption Insurance (MRI) – Insurance of the property to be financed:
For Condominiums (Fire/Earthquake insurance endorsement), policy and photocopy of the official receipt can be obtained from the Property Management office of your project
For completed House and Lot, insurance should be obtained from a reputable and accredited insurance company
Note: Signed & settled to the bank prior to the release of the Bank Guaranty (Bank Process)
Payment of bank charges, which include Documentary Stamp Tax, Notarial and Mortgage Fees
Developer Requirements
Payment for the required down payment amount based on the restructured computation sheet (if applicable)
Full settlement of unpaid down payment (if applicable)
Full settlement of miscellaneous expenses and other related costs (if applicable)
Full settlement of real estate tax (if applicable)
Signed Contract to Sell (CTS) and conformed restructured computation / Statement of Account (SOA)
Note: Signed & settled to DMCI Homes prior to loan release. (DMCI Homes Process)
For Bank Financing, upon clearing of the required down payment and bank loan release, you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department for unit inspection.
List of Accredited Banks
BDO
BPI / BPI Family
Chinabank / Chinabank Savings
HSBC
Malayan Bank
Metrobank
PNB
PSBank
Security Bank Savings
UCPB
RCBC Savings Bank
AUB (Asia United Bank)
Bank of Commerce
EastWest Bank
Maybank
Philippine Business Bank
Robinsons Bank
To request for change of payment terms for the balance from In-House Financing to Bank Financing, the same procedure shall be followed. However, upon submission of Letter of Guaranty (LOG) to the Financing Department, the request will be endorsed to the Credit & Collection Department for the issuance of latest statement of account & to the Remedial Department for facilitation of your restructured computation sheet, which normally takes ten (10) working days for releasing from the date of receipt. The restructured computation sheet requires your conformity within five (5) days from the date of issuance. All checks that will mature within thirty (30) days from the date we received the Letter of Guaranty will be deposited and considered in the computation as part of payments made.
PAYMENT VIA REMITTANCE FOR INTERNATIONAL BUYERS
In order to promptly and properly monitor your remittances, DMCI Homes has made arrangement with banks in facilitating remittances with the following procedure:
Go to your nearest remittance center / partner bank.
Fill-out remittance slip form / remittance application.
MANDATORY FIELDS
DESCRIPTION
Remitter name
Name of person sending the payment
Beneficiary name
DMCI Project Developers Inc.
Subscriber name
Name of buyer
Subscriber number
Remitter code / Policy number
Document number
Reference number
Amount of remittance
Total amount of amortization payment in Php
Remittances made without the above required information will not be processed by tie-up bank’s foreign branches and offices / remittance centers.
Collection Center Agent shall encode the account number. If correct, Agent shall proceed with the transaction. If not, “Invalid Account” shall appear on the screen and the Agent will not accept the remittance.
Note: Your remitter code is your policy number. Please do not lose this account number.
Inform Collection Center Agent of the remittance amount in peso value. Agent shall convert the peso amount to the equivalent foreign currency.
The usual remittance bank charges or service fee will be at the account of the buyer. The service fee will depend on the charges applied by the originating foreign branch or office.
A validated Official Receipt (as proof of remittance) shall be issued to the buyer by the Bank’s foreign branch or office/remittance center.
Remittance will be credited to DMCI Homes account within 24 hours from date of remittance. Thus, remittance must be made within one (1) working day prior to amortization due date to avoid incurrence of penalties caused by late payment. DMCI Homes will issue Official Receipt (OR) as proof of payment for the purchased DMCI Homes property based on the date payment was credited to the DMCI Homes account.
It is best to keep a copy of the remittance slip or validated official receipt issued by the remittance center/tie-up bank in case there will be a need to reconcile actual remittances made.
Note: Your payment will be applied in the following order:
To the expanded value added tax, if any
To the penalty due and outstanding charges
To the interest due and outstanding charges
To any other outstanding charges (taxes, miscellaneous expenses and other related costs, and other assessment on the property)
To the outstanding principal balance
If you have multiple units and/or parking slots, payment will be applied in the same manner as above, i.e. on all outstanding penalty, interest and other charges of each account prior to allocation on principal.
MISCELLANEOUS EXPENSES AND OTHER RELATED COSTS
Besides the total contract price of the unit you purchased, there are miscellaneous fees payable to the Developer for the transfer of title from the Developer to the Buyer’s name (closing fees) and other related expenses in connection with the sale.
For Sales with reservation date of July 15, 2008 onwards, these miscellaneous expenses are already included in your schedule of payment / CTS Annex.
Depending on your method of payment and unit purchased, miscellaneous expense rates range from 3.6% – 13.5% of the total contract price. It includes fees and charges for Documentary Stamp Tax, Transfer fees, Registration fees, Assurance fund, Administrative and Processing fees and LGU/IT Service fees.
CLEARANCE FOR TURNOVER
Your Clearance for Unit Turnover will automatically be processed and released by the Documents and Inventory Control Department to the Turnover Department once the following requirements are submitted:
Complete documentary requirements based on availed payment term
Full settlement or cleared minimum down payment requirement of the project
Release of loan proceeds for bank financing term
Updated payment status (current)
Complete PDCs
TITLE TRANSFER
Your title will be processed once the following documentary requirements are submitted and completed. Processing of title takes approximately two (2) years:
Full payment of Total Contract Price (TCP) and miscellaneous expenses and other related costs
Receipt of the signed Deed of Absolute Sale (DOAS) from the principal buyer
Availability of the title and tax declaration c/o DMCI Homes
The following documents will be released to you after the one (1) year processing period:
Notarized Deed of Absolute Sale (DOAS)
Tax Declaration
Condominium Certificate of Title (CCT) or Transfer Certificate of Title (TCT)
Tax Receipt or Tax Clearance (Real Estate Tax)
For accounts with Bank Financing Term, title will be released to the bank where the loan was availed.
To receive your title, tax declaration, and notarized DOAS, the following requirements must be presented:
Two (2) Valid IDs
If through an Authorized Representative
Special Power of Attorney (SPA)
Two (2) valid IDs of the Authorized Representative
Photocopy of one (1) valid ID of the Principal Buyer
Full settlement of payment for Real Estate Property Tax
If cash payment, the title will be released within the day
If check payment, the title will be released upon clearing of check
Note: The company does not allow transferring the title personally.