Once you have received our Thank you/ Welcome Email, the Schedule of Payment (SOP) and the Post-Dated Checks (PDCs) monthly amortization payment instructions are indicated. To acknowledge the acceptance of the payment terms, Clients are advised to sign and return the Schedule of Payment together with the complete set of PDCs and the other required documents to our Head office. Special arrangements for the sending of the documents may be arranged by sending an email to sog@cdcholdingsinc.com.
As an additional requirement for credit investigation, clients are requested to provide additional documents to qualify the financial capacity of the buyer.
LIST OF REQUIRED DOCUMENTS
If Individual Buyer:
- Duly filled-out and signed reservation forms
- Proof of paid reservation fee (if payment is made through online banking or remittance)
- Photocopy of passport or any valid government issued IDs with legible signature (for all names appearing in the reservation forms & contracts)
- Tax Identification Number (TIN) and/or duly filled-out and signed BIR form 1904 for all names appearing in the reservation forms & contracts)
- Original copy of Notarized or Consularized Special Power of Attorney (SPA) applicable to buyers based abroad
- If Married, PSA Certified Marriage Certificate
- If Single, PSA Certified Certificate of No Marriage (CENOMAR)
- Proof of Income (applicable to buyers with balance payable through Bank or Pag-Ibig financing)
If Corporate / Partnership / Association:
- Duly filled out and signed reservation forms
- Proof of paid reservation fee (if payment is made through online banking or remittance)
- Photocopy of passport or any valid government issued IDs with legible signature of the authorized officer (for all names appearing in the reservation forms & contracts)
- Two (2) certified true copies of SEC Certificate of Registration
- Two (2) certified true copies of Articles of Incorporation
- Two (2) certified true copies of By-laws
- Tax Identification Number (TIN) and/or Duly filled-out and signed BIR form 1903 or 2303 of company and its authorized officer
- Two (2) original copies of Notarized Board Resolution or Secretary’s Certificate authorizing the purchase of specified condominium unit and parking slot and designation and appointing the officer authorized to sign all documents
- Latest Community Tax Certificate of the corporation
PROOF OF FINANCIAL CAPACITY DOCUMENTS
If locally employed, one of the following:
- Copy of latest Income Tax Return (ITR)
- Original certificate of Employment w/ position & compensation (Notarized)
- Copy of latest 2 months pay slips
- Copy of latest 3 months bank Statement (should be where the payroll is credited)
Self-employed or Business owner, one of the following:
- Copy of Income Tax Return (ITR)
- Copy of Business Registration
- Copy of the Mayor’s Permit
- Copy of the Department of Trade and Industry (DTI) Permit
- Copy of latest Financial Statement (should be where the monthly income is deposited)
Overseas Filipino Worker (OFW), one of the following:
- Copy of Certificate of Employment or Contract
- Copy of latest 2 months pay slips
- Copy of latest 3 months proof of remittance or allotment slips
- Copy of latest 3 months bank Statement (should be where the allotment slips is deposited)
Frequently Asked Questions
What are the payment terms available
The down payment is payable to the developer and we will assist the buyer to avail of the housing loan through our accredited banks or Home Development Mutual Fund (PAG-IBIG/HDMF) financing, 90 calendar days before the due date of financing found in the schedule of payment.
What are Post-Dated Checks
A post-dated check (PDC) is a check issued in advance to your payee (the developer), but the date indicated is some date in the future. PDC’s are a convenient way of paying for your monthly dues in advance without releasing the amount until the date indicated on the checks.
Even if issued today, the check cannot be encashed until the date indicated on them. This is a more convenient way to tracking your payments and not worry about getting charged with penalties & interest for being late in making your payments.
Please ensure that there are at least 2 to 3 months of funding in the checking account at all times to avoid having insufficient funds.
Can CDC Homes assist in opening a Checking Account?
CDC Homes can provide endorsement to the client to open a checking account in our accredited banks, Bank of the Philippine Islands (BPI) and Asia United Bank (AUB) with a minimum opening fee payable to the bank. Please coordinate with our SOG department through sog@cdcholdingsinc.com for the endorsement letter request.
Why were my checks returned?
Bounced check occurs usually due to - Drawn Against Insufficient Funds (DAIF) which means any unfunded check will be considered as returned or bounced checks. At the same time, a returned check will be charged a fee of Php 2,000 (AUB) – Php 2,400 (other Bank) plus Php 200 for every Php 40,000 fraction of the check amount per day.
CDC Homes will automatically redeposit bounced check/s without the need to inform the client. This can result to the client being charged with the amount indicated in the check plus the bank fee for any bounced check/s.
There are cases wherein the checks have alterations, the bank does not usually accept them. The billing department will notify the client for an immediate replacement of the check/s.
As a general ruling of Banks, if a check is redeposited 3 times and still have insufficient balance, the client’s checking account will be closed permanently. But as per the practice of CDC, we pull out checks on its 2nd try and will inform the client on the status his/her check and will be asked to issue another check for replacement.
I am based internationally, how can I pay my dues?
CDC Homes will accept remittance of payments for a period up to 90 days – after this, the authorized Special Power of Attorney (SPA) representative must issue post-dated checks (PDCs) for their behalf. Remittance payments must be sent to the billing department 5 days before the due date to avoid being charged with late penalties and international remittances transfer delays.
Deposit and remittance slips must be emailed and properly notified to our billing department through billing@cdcholdingsinc.com.
How much is the interest rate?
For PAG-IBIG/HDMF
The interest rate varies depending on the time of your loan approval and depending on which financial institution you have the loan approved. HDMF has a fixed rate provision for 3 and 5 years ranging from 5.750% to 9.875% (HDMF website reference). Factors that will improve your loan rate approval will depend on your creditworthiness and capacity to pay.
For BANK
Some banks will extend/lower the fees if the clients can negotiate to have a bigger deposit in their account.
Actual rates shall only apply upon loan take out. The developer will impose a 12% in-house rate for monthly amortization separately.
Do you accept Auto debit?
Currently, the management is still coordinating with various financial institutions and banks to have this facility. We will update you once this service is already available for the client’s convenience.
