FAQS
RESERVATION FEE
What is a reservation fee?
Reservation fee is paid to gain exclusive rights to buy a Stonebridge Estates property, under certain conditions and at an agreed price. It is deductible from the downpayment requirement and will hold the unit under the client’s name for thirty days, or until the first downpayment is made.
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How much is the reservation fee?
Reservation fee is Php 20,000.00 for all models.
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What are the modes of payment?
You may pay through checks in the name of Sun and Earth Homes Corporation.
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Is the reservation fee refundable?
Reservation Fee is strictly non-refundable.
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Is the reservation fee transferable?
Yes, only if the same buyer is transferring to another available property. Transfer fee is Php 10,000. Terms and conditions apply.
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Cancellation of reservation
Reservation can be cancelled on the following grounds:
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Failure to pay first downpayment
Non-compliance with personal and documentary requirements within the given deadline of submission
DOWNPAYMENT / EQUITY
What is the downpayment (or equity)?
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Downpayment (also called equity) is a fixed percentage of the Total Contract Price (TCP) that needs to be paid. It can be paid on a monthly installment at zero interest scheme for the allowable payment period.
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What are the modes of payment for my monthly downpayment?
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Monthly downpayment shall be paid strictly through post-dated checks (PDC) in favor of Sun and Earth Homes Corporation. Non-submission of PDC for downpayment shall also correspond to non-compliance with requirements.
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When will my monthly downpayment start?
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The start of monthly downpayment will depend on the date of reservation.
For reservations made from the 1st to 15th of the month – PDCs are due on the 18th of the following month.
For reservations made from 16th to end of the month – PDCs are due on the 3rd of the month following the next (e.g. reservation made on November 18 will require PDCs by January 3.)
The first downpayment must also be dated on said due dates. PDCs for the entire Equity must be submitted to Sun and Earth Homes Corporation on or before the start of the first downpayment.
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I am an OFW/immigrant, how can I pay my monthly downpayment?
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You are required to assign a family member who is based in the Philippines as your Attorney-in Fact (AIF). The AIF can issue the PDCs required for the monthly downpayment in behalf of the client abroad.
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Is the downpayment refundable?
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All payments paid to the developer is strictly non-refundable. In case of account cancellation, all payments made on the account cannot be refunded as indicated in the Contract to Sell (with the exception of the Maceda Law).
FINANCING OPTIONS
Spot Cash
100% Total Contract Price (TCP) is paid within the reservation month or within 30 days from reservation date. A 5% discount will be applied for Spot Cash payments that are made in full
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Bank Financing
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Minimum 10% Downpayment of the TCP and 90% balance to be loaned thru our accredited banks: : BDO, Security Bank, AUB, and China Bank.
Pag-IBIG Financing
Accepted with minimum 20% downpayment which may be higher depending on the property selected. Computation for the required Pag-IBIG equity and terms will be provided by your sales agent.
SALARY REQUIREMENT/(NDI)
FOR BANK FINANCING
What is Net Disposable Income (NDI)?
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NDI is the maximum amount that can be amortized. Your monthly amortization must be equal or less than the NDI or Salary Requirement amount.
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How can I determine my NDI?
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NDI can be determined by this basic formula: NDI = Gross Monthly Income x 0.30 (Credit Ratio may vary depending on employment).
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What are the Proof of Income that I can declare?
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You (and your spouse) may declare the following provided it has supporting documents:
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Monthly basic income
Monthly allowances
Thirteenth-month pay (divided by twelve months)
Commission (Six months average pay-out, 30% of the average only)
MOVE-IN & DUES
For Spot Cash Financing
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You can move in upon completion of your home’s construction.
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Bank or Pag-IBIG Financing
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Your home will be ready upon loan release/take-out and payment of move-in fees.
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Is there a move-in fee?
A move-in fee of Php 20,000 will be required after the last equity payment.
MERALCO and Water Application
Sun & Earth Homes will process this for the account of the buyer following payment of move-in fees.
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How much are the Homeowners Association (HOA) Dues?
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HOA dues depend on each project. Please refer to the individual project for HOA dues.
LEGAL MISCELLANEOUS FEE & OTHER CHARGES
Are there any hidden charges?
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We have no hidden charges.
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Is the processing fee already included in the Total Contract Price?
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Yes, the processing fee or legal miscellaneous fee is included in the Total Contract Price.
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Is the 12% VAT already included in the Total Contract Price?
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If the property price has reached standard BIR revenue regulation for real estate properties, the 12% VAT is already included.
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What are the inclusions of the Processing Fee? Processing fee covers the following:
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Transfer of Title Cost
Transfer Tax and other taxes required in transferring the title
Notarial Fees
Blueprint
First year Fire and MRI insurances
Admin fees
Bank charges (for bank financing accounts only)