I am glad that there is a website which helps Filipinos with their financial life. I have questions with regards to bank financing for real estate. I purchased a condo from one developer. My payment terms is 20% DP for 36 months and 80% bank financing.
Five years ago when I first published two articles (based on personal experience) on title transfer and annotation, I did not expect that it will be such a big hit in terms of most read (thousands) and most commented on (hundreds).
The agent assigned onsite, named Gerald, was kind enough to give us a tour of the Orchid tower to see what it looks like, as well as some amenities so below are some more pictures. When asked if Tower 2 – Lily is within schedule of 4Q2016 turn-over, he said that it might be safe to expect it by Jan2017. Sigh.
For the charitable-Ilocana* and I, investing in a farm land is way beyond our investment appetite given the large capital outlay, it is pretty much a leap of faith. Way outside our comfort zone, but we had to jump, to start fulfilling our field-of-dreams (literally).
I am an OFW for 7 years and wanting to settle in our homelands by venturing into a piggery business. I’d like to plot my business plan so may I know the details you have on costs per piglet, feeds and live weight in slaughter houses. I hope to hear your thoughts on this matter.
This is just our own unofficial countdown. If you ask SMDC peeps, they are not yet willing to commit to a turnover date but based on our request of DP extension to SMDC (from Dec2015 to Dec2016 in lieu of delayed turnover, a request which they granted), it seems that Dec2016 / 4Q2016 is indeed a more plausible turn-over timetable.
Wrote the posts based on my personal experience when I solely handled the title transfer of the house and lot we bought way back then. I have observed that many still inquire about the steps, requirements among other things, maybe because Pinoys prefer to do this processing on their own, instead of outsourcing it to brokers, agents etc whose actual day job is to transfer titles.
I was surprised to learn that the cost per parking slot now starts at PHP750K, exclusive of 12% VAT and 6.5% other charges. So all in all, it’s at least PHP888,750. Crazy. I wonder how much the rival developer’s parking slot costs now, three years since. I just hope this means the property valuation of the actual condo unit has already appreciated too.
Based from the sales agent manning the Grace Residences showroom on-site, expected turn-over of Orchid Tower is 1H16 while Lily Tower is towards end of 2016. That means timelines have moved around 6 months later compared to initial timelines provided 2 years ago.
BSP is planning to lower and tighten the LTV cap to 60%, which means future borrowers will have to shell out higher DP at 40%. This effectively makes the target market for home loans smaller since not everyone can easily afford a 40% DP.