Buyer's Guide to Owning a Home

Disclaimer: MyCitiHomes reserves the right to update its buyer's guide without prior notice and approval. Should you wish to acquire the latest requirements and procedures, you may send us an email at sales@mycitihomes.com.ph

DAYS 1 – 7 FROM RESERVATION DATE

Upon reservation of your chosen house and lot unit, a welcome letter will be sent as a confirmation for your purchase.

To facilitate the documentation process the Sales Administration Department will assess the initial documents during reservation before endorsing you to an Accounts Management Officer.

    1. Signed Reservation and Purchase Agreement Form (REPAF)
    2. Signed Computation Sheet
    3. One (1) valid ID

DAYS 8 – 30 FROM THE DATE OF ENDORSEMENT

A Sales Administration Assistant will send a Notice of Reminder via email, text or call for Buyer’s Orientation Schedule. During the Buyer’s Orientation Schedule you are required to pre-sign the following documents:

    1. Deed of Absolute Sale (DOAS)
    2. Contract to Sell (CTS)

Ensure that all information provided are true and correct. Any error may result in the delay on the processing of your title.

You will also be required to submit the following documents:

    1. Photocopy of two (2) Valid Government Issued ID’s
    2. Photocopy of Birth Certificate & Cenomar (if Single)
    3. Photocopy of Marriage Contract (if Married)
    4. Original TIN Verified (BIR Form 1904), if change status both must submit verified BIR form 1905
    5. Deed of undertaking for submission of requirements

All requirements and payments must be completed the within thirty (30) days upon reservation to avoid account cancellation and forfeiture of the reservation fee.

RELEASE OF CONTRACT TO SELL AND DOAS

Upon successful completion of documents and payments, your assigned Account Officer will endorse your document to the Title Conversion Unit (TCU) for processing.

A copy of the following documents will be available within the following days;

    1. Contract to Sell (CTS) – fifteen (15) days upon request
    2. Photocopy of DOAS – thirty (30) days upon request
    3. Notarized Deed of Absolute Sale (DOAS) – One (1) year from the date of full payment along with the transferred title and tax declaration under your name.

DAYS 1 – 7 FROM RESERVATION DATE

Upon reservation of your chosen house and lot unit, a welcome letter will be sent as a confirmation for your purchase.

To facilitate the documentation process the Sales Administration Department will assess the initial documents during reservation before endorsing you to an Accounts Management Officer.

    1. Signed Reservation and Purchase Agreement Form (REPAF)
    2. Signed Computation Sheet
    3. One (1) valid ID

DAYS 8 – 30 FROM THE DATE OF ENDORSEMENT

A Sales Administration Assistant will send a Notice of Reminder via email, text or call for Buyer’s Orientation Schedule.

After the Buyer’s Orientation, you will be required to submit the following documents within thirty (30) day for locally employed to sixty (60) days for Overseas Filipino Workers (OFW)

    1. Locally Employed
      1. 2 Valid Government Issued ID’s – Principal Buyer and Spouse with 3 specimen signature
      2. Photocopy of Birth Certificate and Cenomar (if Single)
      3. Photocopy of Marriage Contract (if Married)
      4. Original copy TIN Verified (BIR FORM 1904), if change status both must submit TIN verified BIR form 1905
      5. Photocopy of Latest Proof of Billing Address
      6. Notarized Certificate of Employment with compensation
      7. Three (3) months payslip
    1. Self Employed
      1. 2 Valid Government Issued ID’s – Principal Buyer and Spouse with 3 specimen signature
      2. Photocopy of Birth Certificate and Cenomar (if Single)
      3. Photocopy of Marriage Contract (if Married)
      4. Original copy TIN Verified (BIR FORM 1904), if change status both must submit TIN verified BIR form 1905
      5. Photocopy of Latest Proof of Billing Address
      6. Latest six (6) months bank statement
      7. Latest 3 years Audited Financial Statement
      8. Copy of Latest Business, Registration (SEC/DTI), Mayors Permit, Business Permit and Business License
      9. Latest three (3) years Income Tax Return (Authenticated by BIR) with official Receipt
      10. Picture of Business
      11. Sketch of Business Address
      12. List of Trade References
    1. Overseas Filipino Workers (OFW)
      1. 2 Valid Government Issued ID’s – Principal Buyer and Spouse with 3 specimen signature
      2. 2 Valid IDs Attorney-In-Fact – with specimen signature
      3. Photocopy of Birth Certificate and Cenomar (if Single)
      4. Photocopy of Marriage Contract (if Married)
      5. Original copy TIN Verified (BIR FORM 1904), if change status both must submit TIN verified BIR form 1905
      6. Photocopy of Latest Proof of Billing Address
      7. Authenticated Latest Contract of Employment translated in English if applicable
      8. Three Months Remittance/ Proof Remittances
      9. Three Months Payslip/ Three Months Payroll Bank Statement translated in English if applicable
      10. Consularized or Apostille Special Power of Attorney (SPA)/ Notarized SPA with Photocopy of Passport with Entry and Exit Stamp
      11. Copy of Latest Passport with three (3) specimen signature

You also have the option to settle your down payment thru the following;

    1. Buyers with Checking Account – Post Dated Checks (PDC’s)
    2. Buyers without Checking Account – Cash or Bank Transfer for the 1st to 4th down payment only succeeding payments should be thru PDC’s

All documentary requirements and payments must be completed within thirty (30) days from the date of reservation. Otherwise, your reservation will be forfeited and cancelled.

RELEASE OF CONTRACT TO SELL (CTS)

    1. Notarized CTS
      1. Thirty (30) days from the date of clearing of the required down payment and submission of complete PDCs

DAYS 1 – 7 FROM RESERVATION DATE

Upon reservation of your chosen house and lot unit, a welcome letter will be sent as a confirmation for your purchase.

To facilitate the documentation process the Sales Administration Department will assess the initial documents during reservation before endorsing you to an Accounts Management Officer.

    1. Signed Reservation and Purchase Agreement Form (REPAF)
    2. Signed Computation Sheet
    3. One (1) valid ID

DAYS 8 – 30 FROM THE DATE OF ENDORSEMENT

A Sales Administration Assistant will send a Notice of Reminder via email, text or call for Buyer’s Orientation Schedule.

After the Buyer’s Orientation, you will be required to submit the following documents within thirty (30) day for locally employed to sixty (60) days for Overseas Filipino Workers (OFW)

    1. Locally Employed
      1. Photocopy of two (2) valid Government Issued ID’s of the Principal and Spouse with three (3) specimen signature
      2. Photocopy of Birth Certificate and Cenomar (if Single)
      3. Photocopy of Marriage Contract (if Married)
      4. Original copy TIN Verified (BIR FORM 1904)
      5. Photocopy of Latest Proof of Billing Address
      6. Original Certificate of Employment with compensation
      7. Three (3) months payslip
    1. Self Employed
      1. Photocopy of two (2) valid Government Issued ID’s of the Principal and Spouse with three (3) specimen signature
      2. Photocopy of Birth Certificate and Cenomar (if Single)
      3. Photocopy of Marriage Contract (if Married)
      4. Original copy TIN Verified (BIR FORM 1904), if change status both must submit verified BIR form 1905
      5. Photocopy of Latest Proof of Billing Address
      6. Latest six (6) months bank statement
      7. Latest 3 years Audited Financial Statement
      8. Copy of Latest Business Registration (SEC/DTI), Mayors Permit, Business Permit and Business License
      9. Latest three (3) years Income Tax Return (Authenticated by BIR) with official Receipt
      10. Picture of Business
      11. Sketch of Business Address
      12. List of Trade References
    1. Overseas Filipino Workers (OFW)
      1. Photocopy of two (2) valid Government Issued ID’s of the Principal and Spouse with three (3) specimen signature
      2. Photocopy of two (2) Valid ID’s Attorney-In-Fact with 3 specimen signature
      3. Photocopy of Birth Certificate and Cenomar (if Single)
      4. Photocopy of Marriage Contract (if Married)
      5. Original copy TIN Verified (BIR FORM 1904)
      6. Photocopy of Latest Proof of Billing Address
      7. Authenticated Latest Contract of Employment translated in English if applicable
      8. Three (3) Months Remittance/ Proof Remittances
      9. Three (3) Months Payslip/ Three Months Payroll Bank Statement translated in English if applicable
      10. Consularized or Apostille Special Power of Attorney (SPA)/ Notarized SPA with Photocopy of Passport with Entry and Exit Stamp
      11. Copy of Latest Passport with three (3) specimen signature

You also have the option to settle your down payment thru the following:

      1. Buyers with Checking Account – Post Dated Checks (PDC’s)
      2. Buyers without Checking Account – Cash or Bank Transfer for the 1st to 4th down payment only succeeding payments should be thru PDC’s

All documentary requirements and payments must be completed within thirty (30) days from the date of reservation. Otherwise, your reservation will be forfeited and cancelled.

RELEASE OF CONTRACT TO SELL (CTS)

    1. Notarized Contract to Sell (CTS) – Thirty (30) days from the date of closing the sale with complete documents.
    1. RCBC Savings
    2. PNB Savings
    3. UCPB Savings
    4. China Bank Savings
    5. Sterling Bank of Asis
    6. Asia United Bank
    7. Maybank
    8. Robinsons Bank
    9. Landbank

In order to promptly monitor your payments, MyCitiHomes have various payment options for you to choose from

CHECK PAYMENTS

The most secure and preferred payment is through issuance of post dated checks

      1. Guideline on Proper Check Issuance
        1. Use black ballpen only
        2. Left justify when writing on spaces
        3. End the amount with “only”
        4. Write legibly
        5. No Erasure No Alteration
        6. Make sure to sign the check with the authorized signatories
        7. Do not staple, crumple or fold the checks
        8. Do not forget to fund your check before the due date
    1. Important Tips on Handling Checking Account
        1. Fund your checking account thru ONLINE FUND TRANSFER at least 5 banking days before the check due date. For your convenience and safety, we encourage you to Enroll in Mobile banking applications or download GCASH Application to Transfer Fund to your checking account online.
        2. Be aware of bank penalties
          • Penalty for a Returned or Bounced Check
            PHP 2,000 for every PHP 40,000
          • Additional Penalty for a Returned Check.
            PHP 200 for each day that passes until you fund your check.
        1. Keep in mind laws against bouncing checks
          • Imprisonment or fine for issuing a returned or bounced check, if your payee sues you under the Anti-Bouncing Checks Law (BP 22 or Batas Pambansa Bilang 22) and you are found guilty.
          • Law on Estafa or Swindling (Presidential Decree No. 818, an amendment to Article 315 of the Revised Penal Code)
        1. Know the meanings of these acronyms: DAIF and DAUD
          • DAIF = Drawn Against Insufficient Funds means your account balance is not enough to pay your check payee.
          • DAUD = Drawn Against Uncleared Deposits means your account balance is enough, but part or all of the amount is not yet available due to not-yet-cleared funds.
        1. Do not Fall below your Average Daily Balance (ADB)
          • Monthly Average Daily Balance (MADB) requirement, usually Php 5,000 or Php 10,000 pesos. Falling below your maintaining balance will be charged Php 300-500 per month. This is automatically deducted to your balance.
        1. Handle your checking account carefully
          • Three (3) bounced check will result to Automatic Closure of your account.
          • This will affect your credit worthiness if you will apply for a bank loan
          • Monitor your checking account
          • Monitor the Monthly Due Dates of your issued Post Dated Checks. Ensure sufficient funding before it falls due.
    1. How to fund your local checking account without going out of your home
          1. ONLINE BANKING APPLICATION
            • Access your Mobile Banking Application
              • BDO Personal Banking,
              • BPI Mobile
              • UnionBank Online
              • Landbank Mobile
            • Select Send Money and enter the details of your checking account to be funded
              • Send to Same Bank:
                    • Account Number
                    • Amount
              • Send to Another Local Bank:
                    • Bank
                    • Account Number
                    • Amount
              • Transfer Verified
                    • Keep a copy of the online transfer confirmation receipt for recording purposes.
          1. Access your Gcash Mobile Application
            • Access your GCash Mobile App and enter your 4-Digit Security Pin to access Gcash Dashboard
            • Select Send Money and enter the details of your checking account to be funded
              • Send to Bank:
                    • Account Name
                    • Account Number
                    • Amount
                    • Send Receipt to
              • Transfer Verified
                    • Save a copy of the online transfer receipt from your Gcash Application and email address.

OVER THE COUNTER

    • Go to your nearest/preferred bank
    • Fill cash / check transaction slip
      1. Company name
      2. Subscriber’s name
      3. Subscriber’s account number (Project Code)
      4. Institution Code:
          • CBDI: 1120
          • KAIA: 1127
      • Name of Principal Buyer
      • Property Details
            • Subdivision
            • Phase
            • Block
            • Lot
      • Take a clear photo or scan your Deposit Slip and send it at payments@mycitihomes.com.ph. Payments will be validated upon receipt of the deposit slip/transaction slip

ON-LINE PAYMENT

    1. You can choose from two (2) banks under Bills Payment both for mobile of website
        1. Metrobank
        2. Banco De Oro
    2. Choose your Biller Name
        1. CITIHOMES BUILDER AND DEVELOPMENT INC.
        2. KAIA HOMES INC.
    3. Make sure to enter the correct details
        1. Reference Number / Account Code
        2. Subscribers Name
    1. Send a copy of the payment confirmation at payments@mycitihomes.com.ph. Payments will be validated within 24 hours upon receipt of the deposit slip/transaction slip

Your clearance for House Acceptance will automatically be processed and released by the Accounts Management Group to the Move-in services 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
    4. Updated payment status (current)
    5. House construction clearance
    6. Complete PDCs

Upon completion you will be receiving an invitation for Move-in Orientation. From the date of Move-In Orientation you will need to pay the following;

    1. HOA Membership Fee
    2. Real Property Tax

Failure to attend the Move-in Orientation or pay the required move-in fees within sixty (60) days upon notice will automatically mean that you have fully accepted the unit in good condition. Any warranties or promo shall be forfeited.

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 and other related expenses in connection with the sale.

Miscellaneous expenses are already included in your schedule of payment.

Miscellaneous expense is estimated at 3.75 % 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.

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

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. 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
        • Notarized / Consularized Special Power of Attorney (SPA)
        • Two (2) Government Valid IDs of the Authorized Representative
        • Photocopy of one (1) Government 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 15 working days
        • If check payment, the title will be released 15 working days upon clearing of check

You may request for adjustments or revisions to their account due to unforeseen circumstances from time to time.

This type of amendments requires not approval you just need to submit the following documents

    1. Change in Marital Status
      • Letter of Request
      • Proof of Marriage
      • Signed Reservation and Purchase Agreement Form
      • Photocopy of one (1) valid Government- Issued ID
    1. Change of Billing Address
      • Letter of Request
      • Proof of Billing Address (must be the latest billing statement)
    1. Change of Contact Information
      1. Letter of Request or Email address to the Accounts Management Group.

The following are the requirements and procedures to process your request for Change of Name or Transfer of Ownership

    1. Original Request Letter
    2. Executed Transfer of Rights Contract between signed by the original Principal Buyer and co-Buyers with conformity of the New Buyer
    3. Signed new Reservation Agreement of the New Buyer
    4. Photocopy of one (1) valid Government-Issued ID of the New Buyer
    5. 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)
    6. Updated Statement of Account (SOA)
    7. Administration Fee of PhP 5,000.00 + Php. 10,000.00 shall be collected upon approval
    8. Clearance from Property Management Office (PMO) if original buyer has already occupied the unit
    9. 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.

The new buyer shall be interviewed, shall be subject to Net Disposable Income (NDI) investigation, must submit completely filled-up and signed REPAF together with documents in accordance with the “Buyers’ Undertaking to Submit Documents” checklist as if the account is a new sale.

Once all requirements have been submitted to the Accounts Management Group, will assess the documents for processing of the Notice of Approval (NOA) for Pag-IBIG financing and Letter of Guarantee (LOG) for bank financing.

    1. A new CTS shall be executed with the new buyer for the outstanding principal
    2. No interview is needed for the new buyer if the account is fully paid
    3. Once approved, the account’s ledger, paid interest and principal shall all be transferred under the name of the new buyer.

The following are the requirements and procedures to process your request to add a Joint Buyer or Co-Owner:

    1. Original Request Letter addressed to the Accounts Management Group and signed by the Principal Buyer with conformity of the Joint Buyer or Co- Owner
    2. Signed Reservation Agreement of the Joint Buyer or Co-Owner
    3. Photocopy of one (1) valid Government-Issued ID of the Joint Buyer or Co-Owner
    4. 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)
    5. Updated Statement of Account (SOA) from Credit and Collection Group
    6. Proof of TIN of Additional Buyer
    7. Only the Principal Buyer can request for additional ownership.
    8. Only one billing address should be declared, even for Co-Buyers with different billing addresses.

There are no limits or restrictions to the affinity or co-sanguinity of the two borrowers for Inhouse financing;

The following are the requirements and procedures to process your request to omit a joint buyer or co-owner:

    1. Original request Letter addressed to Accounts Management Group and signed by the Principal Buyer, with conformity of the Joint Buyer or Co-Owner to be omitted.
    2. Updated Statement of Account (SOA) from Credit and Collection Group.
    3. Additional requirement if omitting a minor client
      1. Released waiver and quit claim
    4. Additional requirements if omission is due to death:
      1. Notarize extra-judicial settlement
      2. Publication of extra-judicial settlement
      3. Death certificate
      4. Estate tax (if applicable)

Once all requirements have been submitted to your Accounts Officer 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 for preparation of Sales Amendment 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.

The following are the requirements and procedures to process your request to Change your Personal Information and/or Contact Details:

    1. Change of Marital Status
      1. Original Request Letter addressed to the Customer Care Department
      2. Proof of Marriage
      3. Signed Reservation Agreement
      4. Photocopy of one (1) valid Government-Issued ID
    1. Change of Billing Address
      1. Signed Client Details Changes Form or a Request Letter addressed to the Documents and Inventory Control Department
      2. Proof of Billing Address (must be the latest billing statement)
    1. Change of Contact Information
      1. Signed Client Details Changes Form or a Request Letter/Email addressed to the Customer Care or Documents and Inventory Control Department

Transfer of location is only allowed within the same subdivision and is subject for Management approval. Your account must be in current payment status and not in default.

The following are the requirements and procedures to process your Request to Transfer

    1. Accounts within 30 days from the Reservation Date
      1. Inform your Sales Agent your intent to transfer
      2. Your sales agent will inform our Sales Operations Officer to check the availability of the location based on the current inventory.
      3. Upon confirmation you are advised to counter sign the following documents under the new location
        1. Real Estate Purchase Agreement Form (REPAF)
        2. Provisional Receipt (PR) given during reservation
    1. Accounts under downpayment (DP) stage
      1. Request letter addressed to the Account Management Group.
      2. Request is subject to Management approval. Your Account Officer will confirm availability of the unit in the system
      3. If the transfer has been approved you have to pay Php. 5,000.00 for the admin fee and Transfer Fee if the property value is lower than the destination property
      4. Transfer fee may be waived if the destination property is of higher value that the original property
      5. A new computation sheet will be given based on the new price less credited payments.
      6. 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.
      7. You will be asked to submit required documents for CTS preparation. All documents must be submitted within 30 days, otherwise, the payment may be refunded or forfeited.
      8. Sign new REPAF, CTS/DOAS etc

Transfer of Unit is not allowed when a unit has already been turned-over or has been fully paid. Any applicable promos from the original location will automatically be forfeited upon transfer.

    1. Shifting of Financing from Inhouse to HDMF or Bank and Vice Versa
      1. Request letter addressed to the Account Management Group.
      2. Submit all requirements
    2. Shifting of Financing from Deferred to Inhouse
  1.  

To get a copy of your Statement of Account (SOA) you may request your Accounts Officer via email or formal letter. Only the Principal buyer or his/her Authorized Representative is allowed to request and /or received the SOA.

The following requirements should be presented upon claiming your SOA

    1. For Principal Buyers
      1. Government Valid ID
    2. For Authorized Representative
      1. Government Valid ID of the authorized representative
      2. Authorization Letter signed by the Principal Buyer
      3. Photocopy of the Principal Buyer’s Government Valid ID

Depending on your request the SOA can also be sent via verified email of the Principal Buyer.

All payments, whether cash, dated checks, or PDC’s shall be issued Official Receipts (O.R.). Once payments have been verified you can now schedule your preferred pick up date.

    1. Set an Appointment through our website
    2. Select a Branch
      1. Imus Branch Office
      2. Makati Head office
    3. For Principal Buyers – bring two (2) Valid Government ID
    4. For SPA or Representative kindly bring the following
      1. Authorization Letter
      2. Photocopy of Valid Government ID of the Principal buyer
      3. Two (2) Valid Government ID of Representative

To Request for Hold Deposit or Payment of your check, you must submit a written request to hold the deposit of his check at a minimum of seven (7) working days before check’s payment date.

    1. The buyer’s letter must specify the date of the check’s re-deposit
    2. The time limit to hold deposit of any check is Fifteen (15) days
    3. Only one (1) check may be requested for hold deposit at a time
    4. Subsequent months’ checks shall be deposited according to schedule
    5. Hold Deposit Penalty – this is currently set at three percent (3%) of the check’s amount, wherein a fraction of a month is considered one month.
    6. Check-holding fee is five hundred Pesos (Php 500.00) per check

In cases of insufficient funds, stopped payment or closed accounts you can always request for your check to be pulled out or replaced. You can directly coordinate with your Account Officer and send a written request to pull-out his check(s) at a minimum of Seven (7) working days before the date of next check

    1. Check pull-out fee is five hundred Pesos (Php 500.00) per check
    2. No pullout fee is required given the following
      1. advance-principal or full payment, or if it is due to bank failure / closure
      2. refinancing from Inhouse to external financing, but the checks’ pullout shall be allowed only after loan takeout
      3. for external financing fees’ PDCs, provided that the buyer has already paid the outstanding fees’ amount

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 lump sum / 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.

You may be charged for late down payment or monthly amortization with three (3%) percent per month multiplied by the total outstanding amount for that month

The following are the types of Loan Restructuring and the conditions to qualify:

    1. Shifting of Financing from Inhouse to HDMF or Bank and Vice Versa
      1. This type of amendment is called re-financing
      2. For shifting from Inhouse to external (Bank / HDMF), the buyer shall be required to continue his Inhouse MA payments while the application for his external financing loan is ongoing until loan takeout.
      3. For shifting from external financing to Inhouse, the buyer shall be required to submit PDCs in accordance with Policy # 6 on Inhouse Financing collections.
      4. A Sales Amendment Form shall be accomplished by the Account Officer and endorsed to the department head for approval.
      5. An admin / shifting fee of Five Thousand Pesos (Php 5,000.00) shall be levied on the buyer if the shift is from External to In-house Financing
      6. No shifting fee is needed from In-house to external financing
      7. For external to Inhouse financing, any promos that were granted or availed shall be deemed forfeited. Discount promos shall not be carried over, and you will be required to pay the lacking amount.
    1. Shifting of Financing from Deferred to Inhouse
      1. You will be re-qualified under Inhouse financing parameters, for both ability to pay and documents’ requirements. Schedules 1 and 2 of the Contract to Sell shall be amended and incorporated into the buyer’s folder.
      2. C&C shall compute the MA amount based on the outstanding loan principal or 80% standard Inhouse loan value (whichever is lower) and the effective interest rate based on the requested Inhouse term
      3. The remaining equity, of Twenty percent (20%) of the TCP, must be settled such that the total DP term does not exceed Twelve (12) months from the reservation date.
      4. The maximum term extension is the maximum years for Inhouse financing from the account’s reservation date
      5. You will be required to submit a full set of PDCs for MA, MRI, FI, RPT, etc. for the next two (2) years upon completion of full DP or upon approval of the request, if he has paid for more than the Twenty Percent (20%) DP.
      6. An admin / shifting fee of Five Thousand Pesos (Php 5,000.00) shall be levied on the buyer for this shift in financing, except if this request is made within Thirty (30) days from the reservation date.
      7. You will be allowed to apply for move-in only upon payment of Twenty Percent (20%) of the TCP
    1. Restructuring of MA Schedule – Shortening of MA term
      1. No admin / restructuring fees are applicable in this case
      2. Restructuring sessions to shorten the MA term are allowed at any time.
      3. The account officer shall be responsible to apply the correct interest rate against the requested term
      4. C&C shall execute an Amendment to the Contract to Sell (CTS) and attach an exhibit of the revised amortization table
    1. Restructuring of MA Schedule – Extension of MA term
      1. This shall be allowed only once (1x) during the MA stage
      2. A restructuring / admin fee shall be levied to the buyer at a rate of five thousand Pesos (Php 5,000.00)
      3. Under no circumstance may the restructured MA term be allowed to exceed Inhouse Financing’s maximum allowable term.
      4. You must not be more than sixty-five (65) years old at the end of the restructured MA term.
      5. The account officer shall be responsible to coordinate with Corporate Loans Department to verify the MA amount under the CTS loan.
      6. The account officer shall be responsible to apply the correct interest rate against the requested term
      7. All outstanding penalties and interest shall recapitalize and add to the outstanding principal balance. The buyer shall be required to pay one (1) month’s MA upfront as an act of good faith, based on the restructured MA amount, as well as submit two (2) years worth of MA, MRI, FI, and RPT PDCs.
      8. C&C shall execute a Compromise Agreement with the buyer, granting the Company the extrajudicial right to evict the buyer upon default of any of the amended terms, if there is no existing collections lawsuit against the buyer.
      9. Likewise, an Amendment to the Contract to Sell (CTS) shall also be executed, with an exhibit of the revised amortization table
    1. Revivals / Reinstatements – Refer to the Four (4) C&C programs / offers related to reviving cancelled Inhouse Accounts. These are:
      1. Amnesty Program*
      2. Installment Consolidation Undertaking (ICU)*
      3. Citihomes Program for Revival (CPR)*
      4. RE-Acquires Property (REAP)*

*NOTE : Subject to change without prior notice

If the client fails to pay the monthly amortization of the unit 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.

Account 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.

To request cancellation of purchased unit or back-out from your purchase, a notarized cancellation letter must be submitted to your Accounts Officer 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.

For Non-Installation of Finishes and Partitions requests, you may submit a Written Request to the Sales Operations Assistant upon reservation for Non-RFO Units only. The request will be then endorsed to the Move-in Services Department

Note: Requests for Non-Installation of Finishes and Partitions must be made at least ten (60) days before the date specified by Construction Division.

Upon successful completion of the Move-In requirements, you may now accept and occupy your property. Turn-over of unit will commence 1-2 weeks after payment. To give way for the processing of the following pre-signed documents during Move-in Orientation:

    1. Authority to Move in
    2. Statement of Warranties
    3. Deed of Restrictions

This document will be included to the Move-In Kit to be given by the Site Management together with the keys of your property on the actual house acceptance.

    1. Once cleared and endorsed by C&C/AMG, Buyer proceeds to Prop. Admin to apply for Move In. Buyer fills out complete set of Move-In documents. Move In Asst. orients Buyer on Pre-and Post-Move in processes. Then, Buyer pays the required move-in fees.
    1. After approval of application (after 1 week), Move-In Asst. informs Buyer to claim Approved ATMI and schedules the “Move-In Experience” – a joint inspection / unit acceptance session with Site Management.
    1. In case of findings on the unit during the date of “Move-In Experience”. Move In Services shall schedule a final inspection and turnover of keys at site with the assistance of Site MGMT. Buyer then signs the Certificate of House Inspection and Acceptance (CHIA).
    2. Buyer registers with the Homeowner’s Association and pays:
      1. Membership Fee
      2. Association Dues
      3. Water Connection Fee – Please bring your copy of the ATMI and Water Connection Clearance during application and seminar/orientation with the Water District

Likewise, the Company shall be deemed to have performed all its obligations contained in the Contract to Sell, Deed of Absolute Sale, and other pertinent documents, laws, and regulations concerning the property.

For Cash Buyers of Non-RFO units, request for move-in will start only after house construction completion clearance.

    1. Buyer shall fill-out an Application for Construction House/Extension/Fencing (ACHEF) form, and submit the following requirements for approval by CITIHOMES’s Planning & Design and Engineering Departments:
        1. Five (5) sets of building plans and Bill of Materials (signed and sealed by licensed Civil Engineer or Architect).
        2. Structural computation of design (for major structural modification).
        3. List of hires Workers and authorized representative w/ 1×1 ID pictures.
        4. Homeowner’s Association Clearance (if applicable).
    1. Buyer pays the following applicable ACHEF fees as follows.
        1. Construction bond – Refundable
        2. Admin and processing fee – Non Refundable
    2. While the ACHEF is being processed, buyer secures building and/ or fencing permits from the office of the Building Official. This may also be done prior to application with CITIHOMES for the ACHEF.
    3. After approval of ACHEF (+1 week), Buyer claims a copy of approved ACHEF and presents this to Site Management for orientation of subdivision rules and regulations regarding home improvements.
    4. Once the improvements are complete, Buyer shall accomplish a Request for Inspection and Construction Bond Refund Form and submit the original approved ACHEF & Official Receipt for Contruction Bond deposit. If the Homeowner’s Association has been established, their clearance shall be required. Once done, the request form shall then be sent to CITIHOMES Head Office for processing of the refund

However from the date of acceptance the developer can only be held accountable for the maintenance and security up to fifteen (15) days with the exception of those items covered the Statement of Warranties’. Beyond the said prescription date the company assumes that the house and lot unit is accepted in good condition. This includes obligations to repair damage or replace losses caused by normal wear and tear, vandalism, theft, fortuitous events and/or acts of God.

Except those items covered in the Acknowledgment of Statement of Warranties, maintenance and repair of the housing unit(s) shall be the responsibility of the Buyer after two (2) from the date of unit acceptance, reckoned from the date on the Certificate of Housing Inspection & Acceptance (CHIA).

Included in Warranties

    1. Temite Control – Thirty (30) days from our acceptance (not necessarily physical occupancy) of unit, reckoned from the date of our signature on the CHIA;
    2. Waterline Leaks – Thirty (30) days from our acceptance (not necessarily physical occupancy) of unit,reckoned from the date of out signature on the CHIA;
    3. Firewall Leaks – One (1) year from acceptance (not necessarily physical occupancy) of unit, reckoned from the date of our signature on the CHIA;
    4. Clogged Sewer / Drainage pipes – Thirty (30) days from our acceptance (not necessarily physical occupancy) of unit, reckoned from the date of our signature on the CHIA;
    5. Toilet & Bathroom WaterProofing – Thirty (30) days from our acceptance (not necessarily physical occupancy) of unit, reckoned from the date of our signature on the CHIA;
    6. Locksets Performance – seven (7) days from our acceptance (not necessarily physical occupancy) of units, reckoned from the date of our signature on the CHIA;
    7. Plumbing / Electrical Fixtures (faucets, toilets, shower heads, switches, outlets, receptacles, breakers, p-traps, floor drains, etc.) – Seven (7) days from our acceptance (not necessarily physical occupancy) of units, reckoned from the date of our signature on the CHIA;
    8. Roof Leaks – One (1) year from acceptance (not necessarily physical occupancy) of unit, reckoned from the date of our signature on the CHIA;
    9. Painting – One (1) year warranty against bubbling / peeling of paint only; i.e. fading, water marks, chalking, hairline cracks, or other damages to painted surfaces are not covered.

Not Included in Warranties

    1. Termite Control – If house extensions or improvements were conducted which involve soil excavation on the property;
    2. Waterline Leaks – If there has been alteration on the layout of pipes or replace plumbing fixtures;
    3. Clogged Sewer / Drainage pipes – If alterations were done to the layout of pipes, or misuse the plumbing fixtures (e.g. flushing items into the toilet not intended for flushing, food in the kitchen sink’s drainage line, etc.);
    4. Firewall Leaks – if alterations were made on the roofing layout / roof materials, such that the firewall’s roof capping is damaged or removed, and its top surface is exposed to the element;
    5. Toilet & Bathroom Waterproofing – If there was a replacement / change / crack the tiles due to misuse; if we replace the water closet, lavatory, or other plumbing fixtures;
    6. Locksets Performance – If there are replacement or mis-use on the installed items;
    7. Plumbing / Electrical Fixtures – If there are replacement or mis-use on the installed items;
    8. Roof Leaks – If there were replacements, alterations, or modifications on the existing roofing and/or its accessories; if we install antennas, telecom equipment, or any action that punches holes into or create cracks in the roofing materials.
    9. Painting – If we cause damage to painted surfaces, re-paint, or apply different colors of paint onto painted surfaces.

MyCitiHomes 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 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 expenses including, but not limited to, the following:

    1. Operational expenses
    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 Subdivision 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 its residents.

Payment of Association Dues will automatically start from the day your unit has been accepted or deemed accepted. Corresponding penalties and interests will be imposed on late payments.

Real Estate Property Tax (RPT) 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. MyCitiHomes 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 house and lot directly to the local government.

Basis for computation of real estate property tax:

BASIC TAX = ASSESSED VALUE x MUNICIPAL RATE ON RPT


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