Paying For Your PRO-FRIENDS Home

With money being so hard to come by these days, it is usually the matter we want to tackle or directly know about when it comes to buying something or browsing the market. Of course, we always try to get the best out of our money to truly feel satisfied and avoid any regrets in a purchase especially if that purchase comes with a hefty price tag like a house for example.

It is best to know the modes of payment and the policies those methods entail. If you are seeking a house from PROFRIENDS (Property Company of Friends Inc.), then here are the details you might want to read and absorb.

IN-HOUSE FINANCING Payment Method

Downpayment of 30% of the TOTAL CONTRACT PRICE payable in 30 months. Cash or INSTALLMENT NO INTERESTS. Balance of 70% payable upto 5 to 10 years to pay with Interest.

BANK FINANCING Payment Method

Downpayment of 12.50% of the TOTAL CONTRACT PRICE payable in 15 months. Cash or INSTALLMENT NO INTERESTS. Balance of 87.50% of the TOTAL CONTRACT PRICE 1) if OFW payable up to 5 years to 15 years or 2) if Locally Employed payable up to 5 years to 20 years.

Affiliated banks are Metrobank, UCPB, and BDO.

Cash Deferred Payment – 24 equal monthly installment with NO INTEREST NO DOWNPAYMENT.

Spot Cash Payment Total Selling Price – avail a 10% discount if fully paid within 7 days from Reservation Date.

After finally deciding which house model with the specific location on what housing project to buy, pay the Reservation Fee. Remember, reservation fee is non-refundable in case you decide to cancel the unit. Only cash, personal check, company check, cashier’s check or manager’s check are accepted as reservation fee.

Once the reservation fee has been paid, you will now have to fill out the following forms & contract which are part of your requirements in purchasing the unit:

• Contract to Sell
• Special Power of Attorney (if Buyer is not available or OFW – Overseas Filipino Worker)
• Insurance Forms (Mortgage Redemption Insurance aka MRI and Fire Insurance)
• In-house or Bank Loan Application Forms

Before you and your agent call it a day, your agent/representative will give you a list of requirements that needs to be submitted within 60 to 90 days from date of reservation.

If requirements are lacking once the house/unit is constructed and ready to be transferred, We will not allow the Buyer to inspect the house, move-in or transfer unless these requirements (especially the post-dated checks) are submitted.

Pay your first Monthly Down payment 30 – 45 days from the date of reservation.

Once the full down payment has been paid with complete requirements and depending on financing mode (for BANK & IN-HOUSE Financing) Letter of Guarantee (LOG) of your house loan has been released, you will now receive a Notice for Inspection.

Upon receipt of Notice for Inspection, you’ll have 3 months to inspect the house condition in preparation for your transfer or move in. Sign the House Acceptance form after inspection.

Finally…Congratulations! You may now move in to your new home.

At this point, you may now apply for MERALCO (3 weeks processing) and water connection (3 days processing) through their local office (on selected projects only). While waiting for electric connection, we will allow you to get electric connection through sub-meter connection within the village.

House Improvements Interior and exterior house improvements and expansion will only be allowed once you have transferred/moved in to your new unit.

Source: profriendsagent.com