Buyer should submit the following reservation documents to officially reserve a Unit:

a.) Reservation fee payment amounting to Php20,000.00
b.) Signed Intent to Purchase
c.) Fully accomplished Buyer’s Information Sheet
d.) Photocopies of valid government-issued ID’s of Principal Buyer/s and Spouse/s, if applicable bearing their photos and signatures any one(1) of the ff: Passport, Driver’s License, GSIS, SSS, Professional Regulatory Commission, Tax Identification Number, Firearms, Senior Citizen, Postal or other related government-issued ID with picture and signature).
e.) Signed Offer to Purchase

• How will I pay the reservation fee?
Buyers can settle the reservation fee in full through cash and dated check.

• How long is the validity of the said Unit reservation?
The reservation is valid only for thirty (30) days from the date of settlement of the reservation fee payment.

• What are the contents of a Reservation Agreement Form?
A Reservation Agreement is a document which formally expresses the interest of the Buyer in purchasing a Unit stating the Project, Blk. And Lot, Model Unit, Contract Price, Payment Schedule and the important provisions governing the reservation of the said Unit.

• If I decide to cancel the reservation, will my Reservation Fee be refunded or transferred to my preferred Buyer?
No, the reservation fee is non-refundable and non-transferrable. This shall be forfeited once no succeeding payments are made after the reservation fee as provided for in the Reservation Agreement.

• What is the next step after I pay my Reservation Fee?
After 30 days from the date of reservation fee, client has to pay the amortization for the down payment. Client will also be required to submit documentary requirements to complete the sale.

• What is a Contract to Sell (CTS)?
The CTS is the contract that sets out the terms, conditions and financial details agreed to by the Developer and Buyer in the sale of a Unit. This contract supersedes the Reservation Agreement.

• When will the client sign the Contract to Sell?
Normally after the reservation of the property however the developer is still finalizing the address to be indicated in the CTS thus there will be a slight delay in the issuance of the said document.

• When can I receive the notarized CTS?
The Developer shall endorse the CTS for notarization once the Buyer has submitted the complete documentary requirements and has paid the initial down payment. After fulfilling the requirements the notarized CTS will be given to client after one (1) month.

• What are the requirements if I sign the documents related to the purchase outside the Philippines?
The documents should be authenticated or consularized at the Philippine Embassy of the country where the Buyer is based or is residing. The said consularization abroad is the counterpart of our notarization here in the Philippines.

• If I will be residing or leaving for another country, how can I avoid the inconvenience and costly consularization or authentication of my contracts and documents abroad?
It is advisable that while in the Philippines, the Buyer designates a representative through the execution of a Special Power of Attorney (SPA) before leaving for abroad. This allows the attorney-in-fact to transact and sign documents pertaining to the Unit purchase with the Developer. In the event that Buyer will pay the balance thru bank financing, a separate SPA is required for loan purposes using the Bank’s form.

• What are the available payment terms offered by RRC to their Buyers?
The following are our available standard payment terms:

a.) Cash Term – full payment within thirty (30) days from reservation fee payment with applicable discounts
b.) Bank Financing Term – 20% of the contract price as down payment will be settled by Buyer in spot (with applicable discount), 12 months or 18 months and the lump sum balance to be financed by the Bank

• Can I change my original financing scheme if I decide to?
Yes, Buyer can change or restructure his/her term but subject to Management’s approval and a processing fee amounting to PhP3,500.00 will be charged to the buyer.

• What is required of me by the Developer in the settlement of my monthly down payment?
As stated in the Contract to Sell, the Buyer is required to issue complete Postdated Checks for his/her scheduled down payment.

• If I do not have a checking account, can RRC assist me in applying for one so I can issue the required postdated checks?
RRC has several accredited Banks catering to the opening of checking accounts for the former’s Buyers with its mere endorsement and very minimal document and payment requirements from its Buyers.

• To whom shall the check for payment of my monthly down payment/amortization/balance be made payable to?
All checks should be made payable to Rockfort Realty Corporation.

• Can I request for pull-out or hold for deposit of my issued postdated checks if I decide to?
Pull-out or holding of checks for deposit is strongly discouraged because all checks received by the Developer are being warehoused with its Bank for safekeeping. In extreme cases and for valid reasons, a written request should be submitted to RRC at least five (5) working days prior to the maturity date of the check. The processing of said request will only commence once the written request and payment of the processing fee amounting to PhP200.00 have been received by RRC.

• How can I request for re-deposit of my check payment that has been returned or bounced?
A signed written request is required from the Buyer to re-deposit a returned or bounced check. The buyer will also need to settle corresponding penalties due to delayed payment.

• Do I need to settle the Value Added Tax (VAT) and Creditable Withholding Tax (CWT) related to the Unit purchase separate from the Total Contract Price?
The VAT and CWT are already imputed in the Contract Price and the Developer will remit the same to the concerned government agency in Buyer’s behalf.

• How can I upgrade my Unit purchase (e.g. transfer to Model B or C)?
RRC will verify if the Buyer’s new preferred Blk. & Lot is still available in the inventory map. Upon confirmation, the buyer will be required to submit a written request. If approved, the Buyer needs to execute a new contract pertaining to the upgraded Unit. No processing fee will be collected from the Buyer.

• How about downgrading?
The same process as in the upgrading of purchase will be followed. The only difference is that all the expenses incurred by RRC (commission, incentives, penalties, etc.) and the downgrading fee amounting to PhP 10,000 shall be deducted from the Buyer’s total payments on the original Unit before crediting the remaining amount of total payments made, to Buyer’s unit.

• When does an account become past due?
Accounts are considered past due under the following conditions, in relation to the settlement of the scheduled down payment/amortization/lump sum balance:

a. non-payment
b. late payment
c. short payment

• What happens to my account if it is past due?
a. A penalty interest of 2% per month will be charged to the Buyer’s unpaid amount due until fully settled as provided in the Reservation Agreement.
b. Reminder and Demand Notices will be sent to the Buyer by the Credit and Collection Department to follow-up payments of the arrears.
c RRC may offer remedial collection measures such as restructuring, downgrading, transferring of rights, etc. to assist a past-due the Buyer.
d. A notarial cancellation notice will also be sent to the Buyer if account remains unpaid for more than 90 days.

• Will there be refund of payments made for my purchased property which was cancelled due to either voluntary withdrawal or continued default in payment?
All payments made shall be forfeited once purchase has been cancelled and the Unit will be opened in the inventory map and offered to other prospective Buyers.

For clients with more than 2 years of payment, a refund shall be made subject to the provisions of RA6552, known as the “Realty Installment Protection Act”.

Down Payment
• What is the minimum DP for move-in?
The standard down payment term is 20%.

• If the client paid in Cash, how long will it take before he can move in at the unit (for RFO project)?
If the project is RFO (ready for occupancy), the turnover of the unit is done after 30 days from issuance of clearance, whereby clearance is issued only upon completion of down payment.

Warranty
• How long is the warranty period of the house and lot once turned over? What is the coverage of the warranty?
The unit has a 2-year warranty period, and the coverage is the workmanship.

Ownership of an OFW
• If I’m an OFW without checking account, will the company assist us in opening an account for the monthly payment?
The assistance for a local checking account should be requested and is subject to Finance’s approval.

Ownership of a Corporation
• What are your requirements if I choose to put the name of the unit under a corporation?
The standard requirements are secretary’s certificate, articles of incorporation, board resolution, and the valid IDs of the corporate secretary.

Release of Land Title
• After full payment of the unit, how long is the processing time for the title to be released?
The title is released at least one (1) year from full payment.

Standard Distances and Elevation
• How many meters is the set-back of the property from the road? How about the elevation of the development from the road level?
The standard set-back 3 meters while then elevation of development from road level is 1.5 meters on the average.

Construction
• When is the start of the house construction?
House construction shall commence based on your availed payment terms:
Cash scheme- construction will immediately be triggered upon clearing of your full balance payment
Deferred scheme-house will be constructed upon reaching 50% of outstanding balance.
Installment scheme-construction will be triggered 6 months before the end of down payment term.

House Turn over
• When will be the property be physically turned over to me?
The property will be physically turned over upon full payment or completion of the development, whichever comes later.

• Whom should I contact for the physical delivery of my property to me?
You may contact Customer Service at sales@thearayapark.com

Move-in
• How quickly can I move into my house?
You can take physical possession of your house and lo once the following steps have been completed:
Acceptance Form has been signed (unless the property is otherwise deemed accepted)
All required documents pertinent to the sale of the property (i.e. Contract to Sell, Deed of Sale, corporate papers, etc.) have been signed and submitted.
All amounts due under our Contract, including miscellaneous fees, have been paid.

Customer Service
• Whom should I contact for the status of my account?
You may contact our Customer Service Desk at sales@thearayapark.com or you may call the following numbers: 0917-8728430 or 0998-8495570

• How can I ensure that my requests and issues pertaining to my purchased property will be immediately processed and attended to?
All requests and issues should always be covered with a letter signed by the Buyer or his/her authorized representative to be submitted to the Sales Admin Department who is tasked to handle all after sales services either through physical delivery or e-mail.