FREQUENTLY ASKED QUESTIONS
ON RESERVATION:
1. How much is the reservation fee?
5,000 on lot only
10,000 on house and lot (Rocka premiere homes and townhouses)
2. How long can a client reserve a certain property?
Reservation fee is good for 30 days only from date of reservation.
3. Can a client reserve several properties (slots) at the same time?
Yes, As long as client can pay for them as specified on the Contract to sell.
4. What happens to my reservation fee if I back out?
Full reservation fee is forfeited once a client backs out.
5. What is the next step after I pay my reservation fee?
After 30 days from the date of reservation fee, client has to pay the amortization for the downpayment.
6. When will a client sign for Contract to sell?
After the reservation of the property, client has to sign contract to sell.
ON EQUITY PAYMENTS:
1. When do I have to pay for the first monthly amortization of the downpayment?
30 days from the date of reservation.
2. How long is the term of payment for the downpayment?
It depends on the project.
GE Main (Perimeter lots) – 5 years to pay zero interest
GE North (Rocka Premier Homes) - in the pricelist.
Pag-ibig
In-house
Tower Development Bank (TDB)
Verde Residences – in the pricelist
Sta .Clara Estates (Rocka Premier Homes) - in the pricelist.
Pag-ibig
In-house
Tower Development Bank (TDB)
La Residencia – lot only – 3 years to pay, zero interest
La Residencia (Rocka Premier Homes)
Pag-ibig
In-house
Tower Development Bank (TDB)
Villares
Tierra De Sta. Maria
3. What else do I have to pay aside from the equity?
Utilities, transfer of Title, HOA/lot dues
On schemes / Terms of payment:
1. What are the available financing schemes of the company?
Pag-ibig , In house, TDB
2. What is the inhouse financing interest rate?
5 years – 16%
3. What is Tower Development Bank’s prevailing interest rate?
5 years – 14%
7 years- 15%
10 years- 16%
On Construction of Lot Fence and/or House:
1. When can I proceed with the construction of my house and or / perimeter fence?
After full payment of the downpayment.
A NOTICE TO PROCEED for the construction of the unit and or perimeter fence will be issued.
2. Is there any document that I need to show to prove that I am eligible to construct within the premises of my lot?
A PERMIT TO CONSTRUCT will be issued if a buyer wishes to construct a fence or a housing unit.
3. Is there any corresponding construction bond?
A construction bond of 100k must be settled before an NTP is issued.
4. Is the construction bond refundable?
The whole construction bond will be refunded if at the end of the construction period there are no damages incurred to the subdivision premises especially to the road pavement.
A construction bond of 100k must be settled before an NTP is issued.
5. What if I change the house specifications of my house?
Copies of house plans are submitted for reference to Pagibig fund. The funding institution through its technical personnel must first approve the proposed alterations before its implementation. Just the same, bank, especially commercial banks will require house plans.
6. How do you compute for additional items to be constructed?
On a per square meter basis
7. How long does it take for the standard house construction?
4 to 6 months if the weather will permit.
On REAL PROPERTY TAX:
1. Who shall pay for the real property tax?
The developer shall pay for the real property tax until the scheduled date of the clients last amortization for the downpayment. Thereafter, the client shall assume the payments for the real property taxes.
ON OCCUPANCY OF THE UNIT:
1. What documents do I need to show to be able to occupy my housing unit?
A PERMIT TO OCCUPY – shall be issued to a client after all the requirements (payment and documents) have been complied.
ON PAYMENT OF AMORTIZATION FOR THE BALANCE:
1. When do I have to pay for the amortization of the balance?
Payment of the balance starts 30 days after full payment of the downpayment.
2. What is PENDENCY payment?
During the period wherein all documents have been complied with the Pagibig fund and the house has been constructed already but the loan proceeds have not been released yet, the developer requires "pendency" payments because the loan is still pending with the financing institution.
