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BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY, DMCI BUYER'S GUIDE
 

BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY, DMCI BUYER'S GUIDE

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BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY ...

BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY
Thank you for making the smart choice by choosing DMCI HOMES. We are truly honored to be part of your family. Allow us to welcome you by guiding you through the important steps of owning a home. Here, each step has been detailed and outlined to make owning your new DMCI HOME a truly hastle-free experience.

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    BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY, DMCI BUYER'S GUIDE BUYER'S GUIDE TO OWNING A DMCI HOMES PROPERTY, DMCI BUYER'S GUIDE Document Transcript

    • BUYERS’ GUIDEto owning a DMCI Homes Property
    • 32 Buyers’ Guide to Owning a DMCI Homes Property Thank you for making the smart choice by choosing DMCI Homes. We are truly honouredtobepartofyourfamily.Allowustowelcomeyoubyguidingyouthrough the important steps of owning a home. Here, each step has been detailed and outlined to make owning your new DMCI Home a truly hassle-free experience. About DMCI Homes DMCI Homes is a company of innovative builders and engineering experts that develop modern day living solutions for urban families. Each of its developments is built with world-standard craftsmanship borne from almost 60 years of expertise in the construction and development industry. Its corporate philosophy is anchored on a deep understanding that buying a home is more about investing in a better way of living. Thanks to feature-rich, ideally located communities, residents can finally enjoy a more comfortable and meaningful way of life where they can feel real good to be home. Disclaimer: The contents herein are subject to change without prior notice and do not constitute an offer of contract. TABLE OF CONTENTS Documentary Requirements and Procedures • Cash Payment Term ........................................................................... 4 • In-House Financing Payment Term .................................................... 5 • Bank Financing Payment Term ......................................................... 6 • Payment via Remittance .......... ........................................................ 8 • Closing Fees ...................................................................................... 9 • Clearance for Turnover ...................................................................... 9 • Title Transfer ..................................................................................... 10 Requirements and Procedures on Amendments in Documents • Change of Name or Transfer of Ownership ..................................... 11 • Additional Ownership ...................................................................... 11 • Omission of Name ........................................................................... 12 • Change of Personal Information ........................................................ 12 • Transfer of Project or Unit ............................................................... 13 Financing Requirements and Procedures • Statement of Account ...................................................................... 14 • Official Receipts ............................................................................... 14 • Holding of Checks ........................................................................... 15 • Pull-out or Replacement of Checks ................................................. 15 • Penalties ........................................................................................... 15 • Loan Restructuring ........................................................................... 16 • Cancellation of Accounts ................................................................. 17 • Backout on Unit Purchase ............................................................... 17 Turnover Process and Payment Obligations • Turnover Process ............................................................................. 19 • Unit Warranty .................................................................................. 19 Property Management Services and Payment Obligations • Property Management Office .......................................................... 20 • Property Management Office Responsibilities and Services .............. 20 • Association Dues ............................................................................. 21 • Real Estate Property Tax on Unit .................................................... 22 • Special Assessment Fees .................................................................. 22 1. Insurance Expenses 2. Real Estate Property Tax on Common Areas 3. Major Repairs and Maintenance 4. Permits and Licenses • Leasing of Units ................................................................................ 23  DMCI Homes Hotline Numbers ............................................ 24
    • 54 Days 1 to 7 from Reservation Date Upon reservation of your chosen unit, a welcome letter shall be given to thank you for choosing DMCI Homes and remind you that all documentary requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled. To complete the reservation transaction of your unit, you must submit the following documents to your sales agent to facilitate the documentation process: • Signed Reservation Agreement and Reservation Fee Receipt • Signed Client Registration Form • Signed Computation Sheet • Either a photocopy of your Tax Identification No. (TIN) or BIR Form 1904 • Photocopy of passport/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 your 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). CASH PAYMENT TERM DOCUMENTARY REQUIREMENTS AND PROCEDURES Days 8 to 15 Onceyourdocumentshavebeenproperly endorsed, it will usually take one (1) to three (3) 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 At this time your DOAS will be released to you. You shall be given fifteen (15) days to review the DOAS. Should the documents be in order, you will need to sign the DOAS and return this to your Sales Agent. RELEASE OF DOAS Photocopy of DOAS After one (1) to two (2) days upon request Notarized DOAS One (1) year from the date of full payment along with the transferred title and tax declarations in your name. Upon clearance of the full payment, you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department so that you can inspect your unit. Days 1 to 7 from Reservation Date Upon reservation of your chosen unit, a welcome letter shall be given to thank you for choosing DMCI Homes and remind you that all documentary requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled. To complete the reservation transaction of your unit, you must submit the following documents to your sales agent to facilitate the documentation process: • Signed Reservation Agreement and Reservation Fee Receipt • Signed Client Registration Form • Signed Computation Sheet • Either a photocopy of your 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 your 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). Days 8 to 15 Once your documents have been properly endorsed, it will usually take one (1) to three (3) working days to prepare your CTS. While your CTS is being drafted, we will send you a copy of the Reservation Agreement. Days 16 to 30 At this time your CTS will be released to you. You shall be given fifteen (15) days to do the following: 1. Review and evaluate the terms and conditions in the Contract to Sell (CTS) 2. Prepare the required number of Post-Dated Checks (PDCs) covering your down payment: • 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 terms of payment is cash upon turnover (RFO or NON-RFO), PDCs should cover the entire down payment period and balance • If payment is through bank financing, PDCs should cover the entire down payment period • Ifpaymentperiodisunder10yearsin- 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 this to your Sales Agent. IN-HOUSE FINANCING PAYMENT TERM
    • 76 For direct bank financing, a duly accomplished loan application form with the following pre-approval requirements must be submitted to your preferred accredited bank or DMCI Homes Bank Financing Helpdesk four (4) months before the first monthly amortization for processing of your bank loan approval: BANK FINANCING PAYMENT TERM 1. 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 2. If Overseas Filipino Worker (OFW) • POEA Authenticated Contract (seaman) • COE Authenticated by Philippine Consulate (direct hired) 3. 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 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) 4. If Practicing Doctor • Clinic address/es and schedule • Bank Statements for the past six (6) months 5. 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. Notarized CTS Thirty (30) days from the date of closing the sale with complete documents. Upon clearing of the required down payment, you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department so that you can inspect your unit. Release of your loan proceeds normally takes five (5) to seven (7) working days from receipt of conformed LOG, settlement and submission of the following post-approval requirements. 1. Conformed Letter of Guaranty (LOG) and Deed of Undertaking (DOU) 2. Signed Loan Documents • Deed of Assignment • Promissory Note • Real Estate Mortgage • Special Power of Attorney Note: Signed & settled to the bank prior release of Bank Guaranty (bank process) 3. 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 release of Bank Guaranty (bank process) 4. Payment of bank charges, which include Documentary Stamp Tax, Notarial and Mortgage Fees Note: Signed & settled to the bank prior release of Bank Guaranty (bank process) 5. Developer Requirements • Post-dated check (PDCs) covering the required down payment amount based on the restructured computation sheet (if applicable) • Full settlement of unpaid down payment • Full settlement of closing fees • Signed Contract to Sell (CTS) and conformed restructured computation Note: Signed & settled to DMCI Homes prior to loan released. (DMCI Homes process) 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 so that you can inspect your unit. To request for change of payment terms for the balance from in-house financing to bank financing, same procedure shall be followed. However, upon submission of Letter of Guaranty (LOG) to Financing Department, it 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 to release 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 still be deposited and considered in the computation as part of payments made. Accredited Banks • BDO • BPI • Chinabank • HSBC • Malayan Bank • Metrobank • PNB • PSBank • Security Bank • UCPB
    • 98 3. Inform Collection Center Agent of the remittance amount in peso value. Agent shall convert the peso amount to the equivalent foreign currency 4. The usual remittance bank charges or service fee will be for the account of the buyer. The service fee will depend on the charges applied by the originating foreign branch or office 5. A validated official receipt (as proof of remittance) shall be issued to the buyer by the Bank’s foreign branch or office/remittance center 6. Remittance will be credited to DMCI Homes account within 24 hours from date of remittance. Thus, remittance must be made at least one (1) working day prior to amortization due date to avoid incurrence of penalty due to 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 DMCI Homes account 7. It is best to keep copy of 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 • To the interest due and outstanding • To any other outstanding charges In order to promptly and properly monitor your remittances, DMCI Homes has made arrangement with banks in facilitating remittances with the following procedure: 1. Go to your nearest remittance center / bank tie up 2. Fill-out remittance slip form / remittance application Mandatory fields Description Remitter name Name of person sending the payment Beneficiary name DMCI Homes 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. PAYMENT VIA REMITTANCEFOR INTERNATIONAL BUYERS CLOSING FEES Your clearance for unit turnover will automatically be processed and released by the Documents and Inventory Control Department to Turnover Department once the following requirements are submitted and complied: CLEARANCE FOR TURNOVER 1. Complete documentary requirements based on availed payment term 2. Full settlement or cleared minimum down payment requirement of the project 3. Release of loan proceeds for bank financing term 4. Updated payment status (current) 5. Complete PDCs Closing fees are classified as other charges or fees payable to the Developer for the transfer of title from the Developer to the Buyer’s name. For Sales with Reservation date of July 15, 2008 onwards, the closing fees are already included in your schedule of payment / CTS Annex. Depending on your term of payment, closing fee rates ranges from 3.6% - 6% of the total contractprice.ItincludesfeesandchargesforDocumentaryStampTax,Transferfees,Registration fees, Assurance fund, Administrative and Processing fees and LGU/IT Service fees. (taxes, closing fees, and other assessment on the property) • To the outstanding principal balance If you have multiple unit 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
    • 1110 CHANGE OF NAME OR TRANSFER OF OWNERSHIP REQUIREMENTS AND PROCEDURES ON AMENDMENTS IN DOCUMENTS ADDITIONAL OWNERSHIP The following are the requirements and procedures to process your request to add a joint buyer or co-owner: • Request Letter addressed to Customer Care Department and signed by the principal buyer with conformity of the joint buyer or co-owner) • Signed Reservation Agreement of the joint buyer or co-owner • Photocopy of one (1) valid Government Issued ID of the joint buyer or co-owner • Proof of Billing of the joint buyer or co-owner (must be the latest billing statement and should be the same with the billing address in the new reservation agreement) • Updated Statement of Account (SOA) from Credit and Collection Group • Administration Fee of P10,000.00 Only the principal buyer can request for additional ownership For co-buyers with different billing address, they should declare only one billing address The following are the requirements and procedures to process your request for change of name or transfer of ownership: • Request Letter addressed to Customer Care Department and signed by the original principal buyer and co-buyers • Signed new Reservation Agreement of the new buyer • Photocopy of one (1) valid Government Issued ID of the new buyer • Proof of Billing of the new buyer (must be the latest billing statement and should be the same with the billing address in the new reservation agreement) • Updated Statement of Account (SOA) from Credit and Collection Group • Administration Fee of P10,000.00 • Clearance from Property Management Office (PMO) if original buyer has already occupied the unit Fully paid accounts are not allowed to change name or transfer ownership. Only the principal buyer can request for change of name or transfer of ownership. 1. Full payment of Total Contract Price (TCP) and Closing Fees 2. Receipt of the signed Deed of Absolute Sale (DOAS) from the principal buyer 3. 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: 1. Notarized Deed of Absolute Sale (DOAS) 2. Tax Declaration 3. Condominium Certificate of Title (CCT) or Transfer Certificate of Title (TCT) 4. Tax Receipt or Tax Clearance (Real Estate Tax) To receive your title, tax declaration, and notarized DOAS, the following requirements must be presented and complied: 1. Two (2) Valid IDs 2. 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 3. 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 Please note that the company does not allow the following: 1. Transfer of ownership until the total contract price amount is paid in full. 2. Personally transfer the title. Your title will be processed once the following documentaryrequirementsaresubmittedand completed.Processingoftitleisapproximately one (1) year: TITLE TRANSFER
    • 1312 The following are the requirements and procedures to process your request to omit a joint buyer or co- owner: • Request Letter addressed to Customer Care Department and signed by the principal buyer with conformity of the joint buyer or co-owner to be omitted. • Updated Statement of Account (SOA) from Credit and Collection Group • Administration Fee of P10,000.00 Once all requirements have been submitted to Customer Care Department, these will be forwarded to the Credit and Collection Department for processing of Notice of Approval (NOA). After NOA is released, the request will be endorsed to Documents and Inventory Control Department for approval of request. A Waiver of Rights document will be given to you for signature and notarization. The notarized Waiver of Rights document should be returned to Documents and Inventory Control Department for preparation of CCIS form to update the system. Your new CTS/DOAS will be prepared for your signature. OMISSION OF NAME CHANGE OF PERSONAL INFORMATION The following are the requirements and procedures to process your request to change your personal information and contact details: Change of Marital Status • Request Letter addressed to Customer Care Department • Proof of Marriage document • Signed Reservation Agreement • Photocopy of one (1) valid Government Issued ID Change of Billing Address • Signed Client Details Changes Form or a Request Letter addressed to Documents and Inventory Control Department • Proof of Billing Address (must be the latest billing statement) Change of Contact Information • Signed Client Details Changes Form or a Request Letter/Email addressed to Customer Care or Documents and Inventory Control Department Forecast Account These are accounts within 30 days from reservation date • Request Letter addressed to Sales Management Department. The letter must be approved by the Sales Director and endorsed by Sales Management Department • Signed Transfer of Unit Form Closed Account These are accounts with complete document requirements and signed CTS/DOAS • Request Letter addressed to Sales Management and Project Development Department. The letter must be approved by the Sales Director for request on unit transfer or the Project Director for request on project transfer and endorsed by Customer Care Department. • Signed Transfer of Unit Form • Transfer fee of P4,500.00 applicable to one (1) unit only • All requirements must be submitted to Documents and Inventory Control Department for holding of new project/unit for transfer. • Finance shall evaluate the amount that will be credited to the new unit. A new computation sheet will be given based on the new price less credited payments • Issue new PDCs based on new computation sheet. Treasury Department will pull-out old PDCs if submitted already • Sign new Reservation Agreement, CTS/DOAS etc. for closed accounts. TRANSFER OF PROJECT OR UNIT Transferring from one unit or project to another is subject to approval of the Management and may only be allowed within a certain period of time, which is only six months from the reservation date. The following are the requirements and procedures to process your request to transfer from one project/unit to another within the prescribed allowable period:
    • 1514 The Official Receipts (ORs) are sent through an accredited courier on a quarterly basis. Should you wish to claim in advance your ORs, a Request Letter/Email must be submitted to our Customer Care Department or you may accomplish a request form available at the Window 3 of Payments and Collections Area. Theprincipalbuyerorhis/herauthorizedrepresentative is the only one allowed to request and to receive the ORs. The principal buyer or his/her authorized representative is the only one allowed to request and to receive the SOA. The following must be presented in receiving the SOA: 1. Principal Buyer • Valid ID 2. Authorized Representative • Valid ID of the authorized representative • Authorization Letter signed by the principal buyer • Photocopy of the principal buyer’s valid ID STATEMENT OF ACCOUNT OFFICIAL RECEIPTS The following must be presented in receiving the SOA: 1. Principal Buyer • Valid ID 2. Authorized Representative • Valid ID of the authorized representative • Authorization Letter signed by the principal buyer • Photocopy of the principal buyer’s valid ID You will be contacted by the Customer Care Department for the releasing schedule/ update of your OR. You may opt to have it mailed to you or you may pick it up at the DMCI Homes Corporate Head Office, Customer Care Department. Releasing of ORs is every Friday only. To request to hold deposit or payment of your check, a Request Letter/Email must be submitted to the Customer Care Department at least fifteen (15) banking days before the check’s due date. Your request will be endorsed to Treasury Department for verification. After approval and verification of Treasury Department, you will be advised to pay a holding fee of Php 2,000.00 in cash only. The principal buyer or his/her authorized representative (with Authorization Letter) is the only one allowed to request holding of check. HOLDING OF CHECKS PULL-OUT AND REPLACEMENT OF CHECKS If there have been two incidences of returned checks due to insufficiency of funds, stopped payment order or account closed, you may request for replacement of your check by directly coordinating with Customer Care department and update your account. Your old check will be available for release after the following number of days upon verification of Treasury Department: 1. Five (5) working days if check is on hand of Treasury Department 2. Sixty (60) banking days if check is in warehoused banks. The principal buyer or his/her authorized representative(withAuthorizationLetterand2valid Government issued IDs with claim stub provided during request of pulling out the check/s) is the only one allowed to request pull-out or replacement of check. DAYS PAST DUE PENALTY RATE Based on unpaid monthly amortization 1 – 30 3% 31 – 60 6% 61 – 90 9% 91 – 120 12% 121 – 150 15% 151 – 180 18% 181 – 210 21% 211 – 240 24% 241 – 270 27% 271 – 300 30% 301 – 330 33% 331 – 365 36% 365 and over 36% + penalty rate of the number in excess of 365 days PENALTIES The following are the penalties imposed on late or non-payment of monthly amortizations: Note: Pull-out and replacement of checks may also pertain to change of bank account, change of payment term, replacement of lumpsum/guaranty check, conversion to bank financing, and paying in full. Same number of days shall be applied in releasing the old checks under these circumstances. The Statement of Account (SOA) is sent on a quarterly basis together with your Official Receipts (OR) on payments made. Should you wish to get an advance copy of your SOA, a Request Letter/Email must be submitted to our Customer Care Department. Your SOA will be available for release at the Customer Care Help Desk after seven (7) working days upon request.
    • 1716 1. Request to extend the payment term up to ten (10) years only less the number of months utilized from the original payment term provided also that the principal buyer is less than 65 years old at the end of the restructured term 2. Request to shorten the payment term 3. Request to pay-off the balance thru cash or bank financing 4. Request to make additional or advance cash payment, which may result to re- computation of monthly amortization LOAN RESTRUCTURING The following are the types of loan restructuring and conditions to be able to qualify: Please take note that you are allowed of only two (2) loan restructurings during the entire term. The company allows capitalization of penalty but collects only 20% of the total arrears and penalty as initial payment. The balance will be capitalized and restructured in accordance with your request. Recapitalization is allowed only once during the entire term. To request for loan restructuring, a request letter or email must be submitted to the Customer Care Department. Your request will be endorsed to the Remedial Department for verification and approval. After verification and approval, you will be advised to pay a restructuring fee depending on the type requested— 1. Php5, 000.00 if request is to extend the payment term or recapitalization of penalty covering up to two restructuring computation per account only. 2. Requests to shorten the term, pay- off the full balance, make advance cash payments, and conversion from In-house Financing to Bank Financing is not subject to restructuring fee. An updated computation sheet of the restructured loan stating the new monthly amortization, payment due dates and required cash outlay will be given to you for conformity. The computation sheet is released within ten (10) working days from date of receipt of the request for loan restructuring by the Remedial Department provided also that the restructuring fee, if applicable, is already settled. You will be required to issue a new set of post-dated checks (PDCs) based on the conformed computation sheet. *Validity of the computation sheet is only: 1. Seven (7) days from date of receipt for bank financing 2. Ten (10) days from date of receipt for transfer of unit 3. Fifteen (15) days from date of receipt for others *from date of receipt Checks maturing within thirty (30) days from date of request will still be deposited and considered in the computation. To request pull-out of your old checks, a request letter or email must be submitted to Customer Care Department. Your checks will be available for release after the following number of days upon verification and approval of Treasury Department: 1. Seven (7) working days if check is on hand of Treasury Department 2. Sixty (60) banking days if check is in warehoused banks. If the client fails to pay the monthly amortization of the unit / parking purchased, the Credit and Collection Department issues a reminder letter if it is 30 days past due, then a demand letter if it is 60 days past due to the client. If the account remains in default status after receiving the said letters, it will be endorsed to Legal Department. Legal will then issue the Notice of Cancellation for actual cancellation of the account. Below are the guidelines for default accounts: CANCELLATION OF ACCOUNTS Accounts with Demand Letter Issued • Client may be allowed to restructure and update account during the grace period Accounts endorsed to Legal • If payments made is more than 50% of the contract price, client may be allowed to restructure • If payments made is less than 50% of the contract price, client may only update account Accounts cancelled by Legal • No reinstatement • Client may be allowed to purchase again (new sale) after one year from cancellation To request cancellation or back-out of purchased unit, a request letter or email must be submitted to the Customer Care Department. Your request will be endorsed to Remedial Department for verification and approval. All payments made will be forfeited if the account is not covered by Republic Act No. 6552 or “Maceda Law”. BACKOUT ON UNIT PURCHASE DUE TO DEFAULT OR NON-PAYMENT OF MONTHLY AMORTIZATION
    • 1918 Request for refund due to certain reasons not covered by Maceda Law is subject to Management’s approval. To request pull-out of your checks, a request letter or email must be submitted to Customer Care Department. Your checks will be available for release after the following number of days upon verification and approval of Treasury Department: 1. Seven (7) working days if check is on hand of Treasury Department 2. Sixty (60) banking days if check is in warehoused banks. The “Maceda Law” is a public policy that protects buyers of real estate on installment payments. It is only applicable to accounts which are defaulting in their payments and does not cover those who surrender their units because of other reasons. “Maceda Law” provides the buyer with a right to a refund if installment payments or monthly amortization was paid for at least two (2) years. Republic Act No. 6552 “Maceda Law” Turnover is a process in which DMCI Homes physically delivers the unit to the buyer. Within 30 days upon the release of our Documentation Group of your unit’s clearance for turnover, a coordinator from the Turnover Group will call or email you to inform you of the turnover schedule along with the turnover fees, which you would have to settle upon acceptance of the unit. On the date of your unit’s turnover, you will be asked to inspect your unit and sign the acceptance document that states that the unit isacceptabletoyou.Iftherewillberequeststo rectify some items, these will be noted in the punchlist form and shall be endorsed by the Turnover Group to the Construction Group for proper action. The final turnover will be rescheduled until further notice depending on the quantity or scope of rectification works. Once you are satisfied with your unit’s condition, the unit will be immediately turned over to you. You will be asked to sign a Certificate of Acceptance and provide Meralco application documents and settle the Turnover Fees, which covers the following: • Meralco Service Deposit • Power Bill Deposit • Water Bill Deposit • One-timejoiningfeeforCondominium Corporation • Monthly association dues: Prorated for the current month and one month deposit You will be introduced to the Property Management Office (PMO) for briefing and orientation regarding condominium policies, rules and regulations. You shall be given a Homeowners’ Manual and the complete set of keys for your unit. If you fail to inspect and accept your unit within thirty (30) days from the date of the written notice from the Turnover Department, it will be deemed that you have legally accepted the unit. Charging of association dues shall automatically commence from the day that your unit has been accepted or deemed accepted. If the principal buyer is not available on the scheduled turnover of unit, an authorized representative can accept the unit on his/ her behalf provided the following must be presented: • Special Power of Attorney (SPA) • Two (2) Valid IDs of the Authorized Representative • Photocopy of one (1) Valid ID of the Principal Buyer TURNOVER PROCESS AND PAYMENT OBLIGATIONS TURNOVER PROCESS Your unit is backed by two (2) years warranty on workmanship from the day of acceptance or deemed acceptance. However, repair of items affected by normal wear and tear, misuse or termite infestation such as lockset, faucets etc. are excluded in the prescribed warranty. Upgrades, improvements and other personal modifications to your unit may only be allowed after the official acceptance. Please note that certain warranties may be voided by alterations. UNIT WARRANTY
    • 2120 PROPERTY MANAGEMENT SERVICES AND PAYMENT OBLIGATIONS Condominium Corporation is a non-stock non-profit Corporation registered with the Securities and Exchange Commission and managed by a Board of Directors through the Property Management Office. Its purpose is to maintain all common areas and to govern the entire estate/project in accordance with the Master Deed with Declaration of Restrictions, Articles of Incorporations and By-Laws. The individual owners of the condominium units are the stockholders of this corporation. CONDOMINIUM CORPORATION Property Management Office is the entity through which the Condominium Corporation exercises its prerogatives to DMCI Homes projects. DMCI Homes Property Management Corporation or DPMC is a subsidiary of DMCI Homes. It is mandated to manage and operate the projects of DMCI Homes, as well as to provide the professional services and support to its clients. DPMC shall be responsible for the general management of these projects. DMCI HOMES PROPERTY MANAGEMENT CORPORATION (DPMC) PROPERTY MANAGEMENT OFFICE Administrative Operational programs and policies as well as house rules and regulations for the projects. Requests, concerns, and recommendations from unit owners and tenants are handled and acted upon. Accounting Budgets covering operational expenses are prepared and approved. Accounting records, financial reports and information are regularly prepared. Maintenance and Engineering Regular inspection and routine maintenance of major equipment and installations are performed to ensure efficiency of operations. DMCI Homes Property Management Corporation (DPMC), through its Property Management Office (PMO) shall be responsible for the general management of the projects by providing the following services: PROPERTY MANAGEMENT OFFICE RESPONSIBILITIES AND SERVICES 1. Operational expenses of the Condominium Corporation 2. Utility expenses for the common areas such as water and electricity 3. Garbage collection fees 4. Minor repair and maintenance of common area facilities, amenities and machineries 5. Office expenses of the Property Management Office 6. Permits and license fees paid to the government such as sanitary permits, fire safety inspection certificate among others. 7. Salaries and wages of employees of the Condominium Corporation (Property Manager, Property Management Staff, Security Personnel, Maintenance Staff etc.) 8. Pest control services in common areas ASSOCIATION DUES Association Dues are assessment of the community’s regular operational expenses based on the operating budget and projected expenditures for the year. This is collected monthly and comprises the unit owner’s share of condominium expenses including but not limited to the following: The Property Management Office (PMO) is largely funded by the Association Dues paid by the condominium residents. Payment of association dues will automatically start from the day your unit (including service area and parking area) has been accepted or deemed accepted. Corresponding penalties and interests will be imposed on late payments. Security and Safety Compliance to the Fire Code and Occupational Safety & Health standards is ensured. Integration of all security and safety measures, rules, regulations, plans and programs like security personnel for more responsive and efficient coordination and mutual assistance in cases of emergency. Coordination with the proper government agencies in conducting fire drills and orientation, safety programs to be attended by the unit owners, service providers, and PMO staff. Housekeeping and Landscaping Formulate and implement a general preventive maintenance program covering minor repair works, a pest control program, and a hygienic plan for waste disposal.
    • 2322 Real Estate Property Tax (RPT) on unit is paid by the unit owner based on its floor area. The developer advances payment of RPT in behalf of its clients and buyers. DMCI Homes shall release the title to the buyer once the RPT on unit along with other requirements are settled. From then on, the buyer shall pay the RPT of the unit directly to the local government. Payment of RPT on your unit starts from the day your unit has been accepted or deemed accepted. DMCI Homes’ Credit and Collection Department sends a statement of account for your unit’s RPT, fifteen (15) days after payment was made by DMCI Homes to the local government. Basis for computation of real estate property tax: REAL ESTATE PROPERTY TAX ON UNIT Assessed value x Municipal rate on RPT = Basic tax Insurance Expenses on Common Areas Expenses covering the insurance of the buildings, amenities and common areas of the project in case of risks and natural calamities such as fire, flood and earthquake. The insurance coverage initiated by the Condominium Corporation through the Property Management Office (PMO) covers the structure (building), the facilities and the equipment included therein. For buyers who have their units financed via a bank loan, or owners who use their units as collateral for credit, financing or mortgage purposes, an endorsement letter or certification from the insurer of the property may be requested through the Property Management Office (PMO). Unit owners/residents are responsible for insuring their personal belongings – that is, furniture, fixtures, equipment, appliances, personal effects and everything inside the unit. Different payment terms for insurance expense apply to different projects depending on their policy. This may be billed quarterly or annually. RealEstatePropertyTaxonCommonAreas Real Estate Property Tax on Common Areas is tax applied to local real estate SPECIAL ASSESSMENT FEES Special assessment fees are collected to cover additional expenses that are not part of association dues’ expenditures or those costs that Condominium Corporation deems important for the improvement of the community such as the following: Cost per sqm = Total saleable area of the project (sqm) Amount due per unit = Cost per sqm x Total area of the unit* Total expenses of the Property Special assessments may be collected monthly, quarterly, or annually depending on the project and the nature of expenses. RPT for common areas and property insurance is being paid yearly, but could be billed to unit owners on different payment terms, while other special assessments depend on the project’s needs. Basis for computation of special assessment fees on common areas per unit: *Including balcony, service area, and parking area based on the fair market value of the property. This real estate property tax on common areas is shared by all unit owners in the condominium Real estate property tax on common areas is billed quarterly. Major Repair and Maintenance Major repair and maintenance covering the buildings, amenities and common areas of the project such as repainting of buildings, major repairs on structures and project’s equipment like elevators and others Purchasing of new equipment If the Condominium Corporation deems it is necessary to purchase new equipment for the community like additional CCTVs etc., this will be treated as a special assessment Special Services Special services like termite treatment and the like that Condominium Corporation finds necessary to maintain the entire property may also be billed as special assessment. LEASING OF UNITS DMCI Homes Leasing Services (DHLS) is the official property leasing, investment and management unit of DMCI Homes. It offers management services and residential properties for rent or for lease. To enrol your unit at DMCI Homes Leasing Services, you can call our Leasing Department. You will be asked to fill-out and sign a Lessor Information Sheet and Authority to Lease, which can be obtained from Leasing Services Department office or unit owners can download the said documents at www.dmcileasing.com. After submitting the required documents, Leasing Department will conduct an inspection and inventory checking of your unit. An Acceptance Certificate will be given to you after you surrender a duplicate of your complete unit keys. Your unit will now be included in the leasing database and will be leased out based on our standard Leasing process.
    • 2524 DMCI HOMES CORPORATE HEAD OFFICE 1321 Apolinario St. Brgy. Bangkal, Makati City Telephone No.: (632) 555.7777 • Website: www.dmcihomes.com Facebook: www.facebook.com/dmcihomesofficial Twitter: www.twitter.com/dmcihomesonline Office Hours: 8:00am to 5:00pm (Monday to Friday) DMCI HOMES SALES HOTLINE For queries regarding DMCI Homes projects, sales and site tripping assistance, please contact Sales Department at the following numbers: Telephone No.: (632) 324.8888 Email Address: dmcihomespostman@gmail.com Office Hours: 8:00am to 5:00pm / Monday to Friday Website: www.dmcihomes.com International Sales Telephone No: (632) 888.3468 Mobile Number: +63.9178808800 Email Address: dmci.internationalwebsite@gmail.com Website: www.dmciinternational.com CUSTOMER CARE DEPARTMENT HOTLINE For queries and concerns regarding your purchased unit or facilitation of your accounts, please contact Customer Care at the following numbers: Telephone No.: (632) 555.7700 / Telefax: (632) 856.7484 Cellphone No.: (0918) 918.3456 Email Address: customercare@dmcihomes.com Office Hours: 8:00am to 5:00pm / Monday to Friday LEASING DEPARTMENT HOTLINE For queries and concerns regarding unit and parking space for lease, please contact Leasing Department at the following numbers: Telephone No.: (632) 403.7368 Cellphone No.: (0927) 431.2216 Email Address: leasing@dmcihomes.com Website: www.dmcileasing.com Office Hours: 8:00am to 5:00pm / Monday to Friday DMCI HOMES HOTLINE NUMBERS DMCI HOMES PROPERTY MANAGEMENT CORPORATION (DPMC) For queries and concerns regarding DMCI Homes Property Management Corporation, please contact DPMC , Head Office at the following numbers: Telephone No.: (02) 555.7777 Website: www.dmcicommunities.com Office Hours: 8:00am to 5:00pm / Monday to Friday ACACIA ESTATES Acacia Estates, Taguig City Telephone No.: (632) 828.6917 BONIFACIO HEIGHTS Lawton Ave., Fort Bonifacio, Taguigi CIty Telephone Nos.: (632) 856.0953 / 856.0900 CEDAR CREST Acacia Estates, Taguig City Telephone No.: (632) 881.6314 THE MANORS AT CELEBRITY PLACE Capitol Hills, Quezon City Telephone Nos.: (632) 952.9655 / 951.5394 CYPRESS TOWERS C-5 Brgy. Ususan, Taguig City Telephone Nos.: (632) 571.3112 to 13 DANSALAN GARDEN CONDOMINIUMS Boni Ave., cor. M. Vicente St. Mandaluyong City Telephone Nos.: (632) 531.2173 / 584.5137 EAST RAYA GARDENS Mercedes Avenue, Pasig City Telephone No.: (632) 477.2938 EAST ORTIGAS MANSIONS Ortigas Avenue Extension, Pasig City Telephone No.: (632) 655.4772 FOR DMCI HOMES PROJECTS PROPERTY MANAGEMENT OFFICES
    • 2726 HAMPSTEAD GARDEN CONDOMINIUMS V. Mapa ext., Sta. Mesa, Manila Telephone No.: (632) 782.1370 ILLUMINA RESIDENCES MANILA V. Mapa cor. P. Sanchez Sts., Sta. Mesa, Manila Telephone Nos.: (632) 715.2749 / 353.7811 LAKEVIEW MANORS Brgy. Ususan, Taguig City Telephone Nos.: (632) 628.2665 / 571.1684 MAHOGANY PLACE 1 & 2 Acacia Estates, Taguig City Telephone No.: (632) 571.3227 MAHOGANY PLACE 3 Acacia Estates, Taguig City Telephone No.: (632) 881.6314 MAGNOLIA PLACE Tandang Sora Extension, Quezon City Telephone Nos.: (632) 621.2427 / 930.6986 MAYFIELD PARK RESIDENCES Felix Ave., Brgy. Rosario, Pasig City Telephone Nos.: (632) 470.5490 / 212.7573 MORNING SUN HOMES Brgy. Hagonoy, Taguig City Telephone No.: (632) 828.6917 OHANA PLACE RESIDENCES Alabang Zapote Road, Las Pinas City Telephone No.: (632) 358.3487 PALM GROVE RESIDENCES Better Living Subd., Paranaque City Telephone Nos.: (632) 823.4565 / 828.1636 RAINBOW RIDGE CONDOMINIUMS Brgy. Hagonoy, Taguig City Telephone No.: (632) 828.6917 RAYA GARDENS CONDOMINIUMS West Service Rd., Merville, Paranaque City Telephone Nos.: (632) 828.0522 / 828.1774 RIVERFRONT RESIDENCES Dr. Sixto Ave., Pasig City Telephone Nos.: (632) 501.4162 / 571.3091 ROSEWOOD POINTE Acacia Estates, Taguig City Telephone Nos.: (632) 571.1499 / 571.1470 / 401.3928 ROYAL PALM RESIDENCES Acacia Estates, Taguig City Telephone Nos.: (632) 710.1504 / 571.9195 SPRINGLANE HOMES 1 & 2 Brgy. Hagonoy, Taguig City Telephone No.: (632) 828.6917 TIVOLI GARDEN RESIDENCES Coronado St., Mandaluyong City Telephone Nos.: (632) 571.7880 / 794.0859 THE REDWOODS Quirino Highway cor. Regalado Ave., Fairview, Quezon City Telephone Nos.: (632) 709.5690 / 709.5693 VILLA ALEGRE HOMES Brgy. Mabuhay, Carmona, Cavite Telephone No.: (046) 482.0183 VISTA DE LAGO VILLAS Tuktukan, Taguig City Telephone No.: (632) 642.8615 WILLOW PARK HOMES RFM Road, Cabuyao, Laguna Telephone No.: (049) 827.5910 WOODLAND HILLS Governor’s Dr., Carmona, Cavite Telephone No.: (046) 542.0463
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