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Documentary Requirements and Procedures

​CASH PAYMENT

​DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To facilitate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent: 
  1. Signed Reservation Agreement and Reservation Fee Receipt Signed Client Registration Form
  2. Signed Computation Sheet
  3. Photocopy of either Tax Identification No. (TIN) or BIR Form 1904 Photocopy of any valid
  4. Government issued ID/s with signature.
  5. Notarized Special Power of Attorney (SPA), for local accounts and Consularized SPA for international accounts (if applicable)
  6. Deed of Undertaking for international accounts (if applicable) Proof of Billing Address (must be the latest billing statement) 
Once all 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). 
All requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled. 
DAYS 8 TO 15
Once your documents have been properly endorsed, it will usually take one (1) to two (2) 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
Your DOAS is now ready to be released, which you will be given fifteen (15) days to review. Should the documents be in order, you will need to sign the DOAS and return it to your Sales Agent. 
RELEASE OF DOAS
  • Photocopy of DOAS: One (1) day upon request    
  • Notarized DOAS: One (1) year from the date of full payment along with the transferred title and tax declaration in your name 
Upon clearance of the full payment, you will be issued a Clearance for Turnover. You will then be endorsed to the Turnover Department for unit inspection.
For cash buyers of Non-RFO projects, there will be a Php50,000.00 retention amount that will be payable upon RFO of the unit purchased (to complete the total contract price) and the contract will remain as CTS until such time.

​IN-HOUSE FINANCING and BANK FINANCING

DAYS 1 TO 7 FROM RESERVATION DATE
Upon reservation of your chosen unit, a welcome letter shall be given as gratitude for making DMCI Homes your choice. To facilitate the documentation process and to complete your unit's reservation transaction, you must submit the following documents to your Sales Agent: 
  1. Signed Reservation Agreement and Reservation Fee Receipt 
  2. Signed Client Registration Form
  3. Signed Computation Sheet
  4. Photocopy of either Tax Identification No. (TIN) or BIR Form 1904 
  5. Photocopy of any valid Government issued ID/s with signature
  6. Notarized Special Power of Attorney (SPA), for local accounts and Consularized SPA for international accounts (if applicable)
  7. Deed of Undertaking for international accounts (if applicable)
  8. Proof of Billing Address (must be the latest billing statement)
  9. Birth Certificate for Minors / Marriage Contract for Newlyweds without Updated IDs 
Once all 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).
All documentary requirements and payments must be completed within thirty (30) days. Otherwise, your reservation will be forfeited and cancelled.
DAYS 8 TO 15
Once your documents have been properly endorsed, verification of contact information and personal details will be conducted. Once Notice of Approval has been released, it usually takes one (1) to two (2) working days to prepare your CTS. 
DAYS 16 TO 30
​Your CTS is now ready to be released and you will 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:
    1. If unit is still under construction, PDCs should cover the entire down payment period
    2. If unit is ready for occupancy (RFO), minimum of 24 PDCs
    3. If chosen payment method is cash upon turnover (RFO or NON-RFO), PDCs should cover the entire down payment period and balance
    4. If chosen payment method is through bank financing, PDCs should cover the entire down payment period
    5. If payment period is under 10 years in-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 it to your Sales Agent.
RELEASE OF CTS
  • Notarized CTS: Thirty (30) days from the date of closing the sale with complete documents. 
For In-House Financing, upon clearing of the required down payment and submission of complete PDCs (60), you will be issued a Clearance for Turnover. You will then be endorsed to our Turnover Department unit inspection.

​BANK FINANCING PAYMENT TERM

For direct bank financing, a duly accomplished loan application form with the following pre-approval requirements must be submitted to your Sales Agents, preferred accredited bank, or DMCI Homes Bank Financing Helpdesk four (4) months before the due date of the bank financing schedule for processing of your bank loan approval: 
 IF EMPLOYED WITHIN THE PHILIPPINES 
  1. Certificate of Employment (COE) stating annual salary and position
  2. Latest Income Tax Return (ITR)
  3. Pay Slips (past 2 months)
  4. Proof of Billing Address (must be the latest billing statement)
  5. Bank Statements 
IF OVERSEAS FILIPINO WORKER (OFW)
  1. POEA Authenticated Contract (seaman)
  2. COE Authenticated by Philippine Consulate (direct hired) 
IF SELF-EMPLOYED
  1. Business Name (DTI-Certified) or SEC Registration
  2. Articles of Incorporation and By-laws with SEC Registration Certificates
  3. List of Trade References (at least 3 names and contact numbers of major suppliers and/or customers)
  4. Audited Financial Statements for the past two (2) years
  5. Bank Statements for the past six (6) months
  6. Proof of Billing Address (must be the latest billing statement) 
IF PRACTICING DOCTOR 
  1. Clinic address/es and schedule
  2. Bank Statements for the past six (6) months 
IF INCOME IS FROM RENTAL OF PROPERTIES
  1. List of tenants and rental amount
  2. Complete address/es of properties being rented
  3. 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.
Release of your loan 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 to the release of the 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 to the release of the Bank Guaranty (Bank Process)
  4. Payment of bank charges, which include Documentary Stamp Tax, Notarial and Mortgage Fees
  5. Developer Requirements
    • Payment for the required down payment amount based on the restructured computation sheet (if applicable)
    • Full settlement of unpaid down payment (if applicable)
    • Full settlement of miscellaneous expenses and other related costs (if applicable)
    • Full settlement of real estate tax (if applicable)
    • Signed Contract to Sell (CTS) and conformed restructured computation / Statement of Account (SOA) 
    • Note: Signed & settled to DMCI Homes prior to loan release. (DMCI Homes Process)
​For Bank Financing, 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 for unit inspection.
List of Accredited Banks
  • BDO
  • BPI / BPI Family
  • Chinabank / Chinabank Savings
  • HSBC
  • Malayan Bank
  • Metrobank
  • PNB
  • PSBank
  • Security Bank Savings
  • UCPB
  • RCBC Savings Bank
  • AUB (Asia United Bank)
  • Bank of Commerce
  • EastWest Bank
  • Maybank
  • Philippine Business Bank
  • Robinsons Bank
To request for change of payment terms for the balance from In-House Financing to Bank Financing, the same procedure shall be followed. However, upon submission of Letter of Guaranty (LOG) to the Financing Department, the request 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 for releasing 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 be deposited and considered in the computation as part of payments made.

​PAYMENT VIA REMITTANCE FOR INTERNATIONAL BUYERS

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 / partner bank.
  2. Fill-out remittance slip form / remittance application.
  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 at 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 within one (1) working day prior to amortization due date to avoid incurrence of penalties caused by 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 the DMCI Homes account.
  7. It is best to keep a copy of the 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.
  8. Note: Your payment will be applied in the following order: 
  9. To the expanded value added tax, if any
  10. To the penalty due and outstanding charges
  11. To the interest due and outstanding charges
  12. To any other outstanding charges (taxes, miscellaneous expenses and other related costs, and other assessment on the property)
  13. To the outstanding principal balance
  14. If you have multiple units 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.
​MANDATORY FIELDS 
DESCRIPTION 
​Remitter name 
​Name of person sending the payment 
​Beneficiary name 
​DMCI Project Developers Inc.
​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.

​MISCELLANEOUS EXPENSES AND OTHER RELATED COSTS

​Besides the total contract price of the unit you purchased, there are miscellaneous fees payable to the Developer for the transfer of title from the Developer to the Buyer's name (closing fees) and other related expenses in connection with the sale.
For Sales with reservation date of July 15, 2008 onwards, these miscellaneous expenses are already included in your schedule of payment / CTS Annex.
Depending on your method of payment and unit purchased, miscellaneous expense rates range from 3.6% - 13.5% of the total contract price. It includes fees and charges for Documentary Stamp Tax, Transfer fees, Registration fees, Assurance fund, Administrative and Processing fees and LGU/IT Service fees.

​CLEARANCE FOR TURNOVER

​Your Clearance for Unit Turnover will automatically be processed and released by the Documents and Inventory Control Department to the Turnover Department once the following requirements are submitted:
  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

​TITLE TRANSFER

​Your title will be processed once the following documentary requirements are submitted and completed. Processing of title takes approximately one (1) year:
  1. Full payment of Total Contract Price (TCP) and miscellaneous expenses and other related costs
  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)
For accounts with Bank Financing Term, title will be released to the bank where the loan was availed. 
To receive your title, tax declaration, and notarized DOAS, the following requirements must be presented: 
  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
Note: The company does not allow transferring the title personally.

Requirements and Procedures on Amendments in Documents

​CHANGE OF NAME OR TRANSFER OF OWNERSHIP

The following are the requirements and procedures to process your request for Change of Name or Transfer of Ownership:
  • Original Request Letter addressed to Customer Care Department ( For Forecast Accounts or accounts within 30 days from reservation date, letter should be addressed to Sales Management ) and signed by the original Principal Buyer and co-Buyers with conformity of the New Buyer
  • 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 Php 50,000.00
  • Clearance from Property Management Office (PMO) if original buyer has already occupied the unit
  • Proof of TIN of New Owner / Notarized Waiver of Rights 
Fully Paid Accounts or Accounts with Penalties / Unpaid Payments will not be allowed Change of Name or Transfer of Ownership. Only the Principal Buyer can request for Change of Name or Transfer of Ownership.
Once all requirements have been submitted to the Customer Care Department, these will be forwarded to Credit & Collection Department for processing of the Notice of Approval (NOA). NOA will then be forwarded to the Documents and Inventory Control Department for CTS preparation. A new set of PDCs will be issued to the New Buyer, a signed CTS, which should be submitted within a specified deadline. 

​ADDITIONAL OWNERSHIP

​The following are the requirements and procedures to process your request to add a Joint Buyer or Co-Owner:
  • Original Request Letter addressed to the 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 Php 50,000.00
  • Proof of TIN of Additional Buyer 
Only the Principal Buyer can request for additional ownership.
Only one billing address should be declared, even for Co-Buyers with different billing addresses.

​OMISSION OF NAME

​ The following are the requirements and procedures to process your request to omit a joint buyer or co-owner:
  • Original 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 Php 50,000.00
Additional requirement if omitting a minor client:
  • Released waiver and quit claim
Additional requirements if ommission is due to death:
  • Notarize extra-judicial settlement
  • Publication of extra-judicial settlement
  • Death certificate
  • Estate tax (if applicable) 
Once all requirements have been submitted to the Customer Care Department, the request will be endorsed to the Documents and Inventory Control Department for approval of request. A Waiver of Rights document will be given for your signature and notarization. The notarized Waiver of Rights document should be returned to the Documents and Inventory Control Department for preparation of CCIS form to update the system.
Once the system has been updated, a Certification that the name has been omitted will be released. Changes will be reflected on the DOAS upon full payment.

​CHANGE OF PERSONAL INFORMATION OR CONTACT DETAILS

The following are the requirements and procedures to process your request to Change your Personal Information and/or Contact Details: 
Change of Marital Status
    • Original Request Letter addressed to the Customer Care Department
    • Proof of Marriage
    • 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 the 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 the Customer Care or Documents and Inventory Control Department

​TRANSFER OF UNIT

Transfer of unit within the project is subject to approval of the Management and may only be allowed within six (6) months from the reservation date. 
Account must be in current payment status/updated/not in default to qualify for transfer. Special Holding or Reservation of intended unit is not allowed.
The following are the requirements and procedures to process your Request to Transfer from one unit to another within the prescribed allowable period: 
  1. Forecast Account: These are accounts within 30 days from reservation date
    • Request Letter addressed to the Sales Management Department. The letter must be approved by the Sales Director and endorsed by the Sales Management Department.
    • Signed Transfer of Unit Request Form
  2. Closed Account: These are accounts with complete document requirements and signed CTS/DOAS
  3. Request will be evaluated by the Management. Once approved, the Inventory Control will confirm availability of unit in the system.
  4. You will be informed about the approval of request and you will pay the Transfer Fee of PhP 15,000.00 (applicable to one (1) unit only).
  5. All requirements will be submitted to the Documents and Inventory Control Department for holding of new project/unit for transfer.
  6. The Finance Department shall evaluate the amount that will be credited/ forfeited to the new unit. A new computation sheet will be given based on the new price less credited payments. The computation sheet will only be valid for 5 days upon receipt.
  7. You will be required to issue new Post-Dated Checks (PDC) based on the new computation sheet. Treasury Department will pull-out old PDCs, if already submitted.
  8. You will be asked to submit required documents for CTS preparation. All documents must be submitted within 30 days, otherwise, the account shall be subjected to House Cleaning and previous payment may be refunded or forfeited.
  9. Sign new Reservation Agreement, CTS/DOAS etc. for closed accounts. 
Transfer of Unit is not allowed when a unit has already been turned-over or has been fully paid.
Disclaimer: Subject to change without prior notice.
​

Financing Requirements and Procedures

STATEMENT OF ACCOUNT

​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 advanced 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.
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:
  • for Principal Buyers,
    • Valid ID
  • for Authorized Representatives,
    • Valid ID of the authorized representative
    • Authorization Letter signed by the Principal Buyer
    • Photocopy of the Principal Buyer's valid ID

​OFFICIAL RECEIPTS

​The Official Receipts (ORs) shall be 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 our Payments and Collections Area.
The Principal Buyer or his/her Authorized Representative is the only one allowed to request and to receive the ORs. 
The following must be presented when receiving the OR:
  • for Principal Buyers,
    • Valid ID
  • for Authorized Representatives,
    • 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, 8:00am to 5:00pm only.

​HOLDING OF CHECKS

​To Request for 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 the Treasury Department, you will be advised to pay a holding fee of Php2,000.00 per check. Only cash payments will be accommodated.
​
Only the Principal Buyer or his/her Authorized Representative (with Authorization Letter) is allowed to request for holding of deposits/payment.

​PULL-OUT AND REPLACEMENT OF CHECKS

​If there had been at least two instances of returned checks due to insufficient funds, stopped payment order or closed accounts, you may request for replacement of your check by directly coordinating with the Customer Care Department for an account update.
Once replacement checks have been submitted, the old checks will be made available for release after the following the number of days upon verification of the Treasury Department: 
  1. Seven (7) banking days if the check is available at the Treasury Department
  2. Fifteen (15) banking days if check is in warehoused banks
The Principal Buyer or his/her authorized representative (with Authorization Letter and 2 valid 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.
Note: Pull-out and replacement of checks may also pertain to a 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. 

​PENALTIES

​The following are the penalties imposed on late or non-payment of monthly amortizations: 
DAYS PAST DUE ​
PENALTY RATE ​
​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 

​LOAN RESTRUCTURING

​The following are the types of Loan Restructuring and the conditions to qualify:
  1. Request to extend the payment term up to ten (10) years less the number of months utilized from the original payment term, provided that the Principal Buyer is below 65 years old at the end of the restructured term. Please take note that you are allowed of only two (2) loan restructurings during the entire 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 payments, which may result to re-computation of monthly amortization
  5. Conversion of financing scheme (Direct-BF to In-house; Direct-BF to Cash; Cash to BF)
  6. Deductible cost
  7. Upgrading / downgrading of down payment
  8. Recapitalization - The Company may allow capitalization of penalty and interest but collects 20% of the total arrears and penalty as initial payment. The balance will be capitalized and restructured based on the approved payment term request. Recapitalization is allowed only once during the entire term. 
To request for Loan Restructuring, an original copy of 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 of request. 
  1. Php 7,500.00 if request is to extend the payment term or recapitalization of penalty and interest and conversion from Direct-BF to In-house, limited to two restructuring computations only.
  2. Requests to shorten the term to fully pay the balance, to make advance cash payments, and to convert from In-house Financing to Bank Financing are 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 five (5) working days from date of receipt of the Request for Loan restructuring by the Remedial Department. You need to sign the computation sheet within the validity period only as indicated in the computation sheet.
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. Five (5) days from date of receipt (for bank financing)
  2. Five (5) days from date of receipt (for transfer of unit)
  3. Fifteen (15) days from date of receipt (for other restructuring requests)
  4. Sixty (60) days from date of receipt (for International Accounts) 
Checks maturing within thirty (30) days from date of request must be funded by the client as these will still be deposited and assumed cleared in the computation.
To request pull-out of your old checks, a request letter or email must be submitted to the 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 the check is available at the Treasury Department 
  2. Sixty (60) banking days if check is in warehoused banks.
DISCLAIMER: Subject to change without prior notice

​CANCELLATION OF ACCOUNTS DUE TO DEFAULT OR NON-PAYMENT OF MONTHLY AMORTIZATION

If the client fails to pay the monthly amortization of the unit / parking space purchased, the Credit and Collection Department issues a demand letter to the client. If the account remains unsettled after the deadline stated in the demand letter, it will be endorsed to the Legal Department. Legal will then issue the Notice of Cancellation for actual cancellation of the account.
Below are the guidelines for default accounts: 
Accounts with Demand Letter issued ​
Client may be allowed to restructure and update account during the grace period.
Accounts endorsed to the Legal Department ​
Maceda Law is applied.
Accounts cancelled by the Legal Department ​
​No reinstatement
Client may be allowed to purchase again (new sale) after 
one year from cancellation.

​CLIENT INITIATED BACK-OUT

​To request cancellation of purchased unit or back-out from your purchase, a notarized cancellation letter must be submitted to the Customer Care Department. Your request will be endorsed to the 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", less applicable deductions. 
​REPUBLIC ACT NO. 6552 OR "MACEDA LAW"
​The "Maceda Law" is a public policy that protects buyers of real estate on installment payments. It is only applicable to accounts 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. 
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 the Treasury Department: 
  1. Seven (7) banking days if check is on hand of Treasury Department.
  2. Fifteen (15) banking days if check is in warehoused banks.

Tandem and Non-Installation of Finishes and Partitions Requests and Turnover Process

​TANDEM UNITS

For Tandem Unit requests, you may submit Request for Tandem/Non-installation of Finishes/Partitions (RTN) to your Sales Agent. You will then be given the Standard Tandem Layout which you have to fill-out and sign, and submit with Php200,000.00 cash/check bond to Sales Management with the assistance of the Sales Agent/Seller. The RTN will then be submitted to Accounting of Construction Division who shall issue Acknowledgement Receipt (AR). An action sheet will be prepared for Management's approval.
When construction of your unit has finished and is ready for turnover, you are required to bring your AR copy during unit inspection. When Certificate of Acceptance of Unit has already been issued, you will be asked to fill-out a Request to Release the Construction Bond Form. Your request will then be forwarded to Treasury (Construction Division) along with the AR copy and Certificate of Acceptance to process release of the construction bond. Customer Care will inform you once cash/check bond is ready for release.
Note: Tandem Unit requests must be made at least 10 days before the date specified by Construction Division. ​

​NON-INSTALLATION OF FINISHES AND PARTITIONS

For Non-Installation of Finishes and Partitions requests, you may submit Request for Tandem/Non-installation of Finishes/Partitions (RTN) to your Sales Agent. You will then be given the Unit Finishes Non-installation Checklist with Unit Alteration Guidelines which you have to fill-out and sign, and submit with Php100,000.00 cash bond to Sales Management/Customer Care. The RTN will then be submitted to the Accounting of Construction Division who shall issue an Acknowledgement Receipt (AR). An action sheet will be prepared for Management's approval.
When construction of your unit has been finished and ready for turnover, you have to bring your AR copy during unit inspection. When Certificate of Acceptance of Unit has already been issued, you will be asked to fill-out a Request to Release the Construction Bond Form. It will be forwarded to Treasury (Construction Division) along with the AR copy and Certificate of Acceptance to process release of the construction bond.
Note: Requests for Non-Installation of Finishes and Partitions must be made at least ten (10) days before the date specified by Construction Division. ​

​TURNOVER PROCESS

Turnover is a process wherein DMCI Homes physically delivers the unit to the buyer.
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 confirm the dressing up of your unit and to inform you of the tentative turnover schedule along with the turnover fees, which you would have to settle upon acceptance of the unit. A confirmation from you is required to start the unit dress-up.
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 is acceptable to you. If there will be requests to 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. You will be asked to sign a Certificate of Acceptance, complete Meralco application documents and settle the Turnover Fees, which covers the following: 
  1. Meralco Service Deposit
  2. Power Bill Deposit
  3. Water Bill Deposit
  4. One-time joining fee for Condominium Corporation
  5. Monthly Association Dues: Prorated for the current month and two (2)months advance
  6. Other special assessments 
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 Homeowner's Manual and the complete set of keys for your unit.
If the Principal Buyer is not available on the scheduled turnover of unit, an Authorized Representative may accept the unit on his/her behalf provided the following must be presented: 
  1. Special Power of Attorney (SPA) 
  2. Two (2) Valid IDs of the Authorized Representative 
  3. Photocopy of one (1) Valid ID of the Principal Buyer
IMPORTANT: 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.

​UNIT WARRANTY

​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. 

Property Management Services and Payment Obligations

​CONDOMINIUM CORPORATION

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. ​

​DMCI HOMES PROPERTY MANAGEMENT CORPORATION (DPMC)

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. ​

​PROPERTY MANAGEMENT OFFICE

Property Management Office is the entity through which the Condominium Corporation exercises its prerogatives to DMCI Homes projects. ​

​PROPERTY MANAGEMENT OFFICE RESPONSIBILITIES AND SERVICES

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:
    1. 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.
    2. Accounting - Budgets covering operational expenses are prepared and approved. Accounting records, financial reports and information are regularly prepared.
    3. Maintenance and Engineering - Regular inspection and routine maintenance of major equipment and installations are performed to ensure efficiency of operations.
    4. 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. 
    5. Housekeeping and Landscaping - Formulates and implements a general preventive maintenance program covering minor repair works, pest control, and waste disposal.

​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:
  1. Operational expenses of the Condominium Corporation 
  2. Garbage collection fees
  3. Minor repair and maintenance of common area facilities, amenities and machineries
  4. Office expenses of the Property Management Office
  5. Permits and license fees paid to the government such as sanitary permits, fire safety inspection certificate, Real Property Tax for common areas, among others
  6. Salaries and professional fees of employees of the Condominium Corporation and Service Providers (Property Manager, Property Management Staff, Security Personnel, housekeeping, etc.) 
  7. Pest control services in common areas
Also part of the Association Dues but billed separately are utility expenses for the common areas such as water and electricity.
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. 

​REAL ESTATE PROPERTY TAX ON UNIT

Real Estate Property Tax (RPT) on unit, parking slot, house and lot is paid by the unit owner based on its floor/lot 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. The buyer shall then pay the RPT of the unit/parking slot/house and lot directly to the local government.
Payment of RPT on your unit/parking slot/house and lot 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 unpaid RPT. Advance RPT billings will also be sent three (3) months before actual payment of DMCI Homes. You will be given a grace period to settle the billing.
Basis for computation of real estate property tax: 
​BASIC TAX = ASSESSED VALUE X MUNICIPAL RATE ON RPT

​Please note that RPT of unit is different from RPT of common areas. Refer to Special Assessment Fees for more details.

​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:
  1. Insurance Expenses on Common Areas
    1. 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.
    2. 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.
    3. 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).
    4. Unit owners/residents are responsible for insuring their personal belongings - that is, furniture, fixtures, equipment, appliances, personal effects and everything inside the unit.
  2. Real Estate Property Tax on Common Areas
    • Real Estate Property Tax on Common Areas is tax applied to local real estate 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 annually.
  3. 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.
  4. 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.
  5. Special Services
    • Special services like termite treatment that Condominium Corporation finds necessary to maintain the entire property may also be billed as special assessment.
    • Basis for computation of special assessment fees on common areas per unit: 
COST PER SQM =  TOTAL EXPENSES OF THE PROPERTY / TOTAL PROJECT SALEABLE AREA (SQM)
AMOUNT DUE PER UNIT =  COST PER SQM  X  TOTAL AREA OF UNIT*
* unit includes balcony, service area, and parking

​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 leasing.dmcihomes.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. 

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