DMCI basic requirements??

[joshua69]

Hi All,

Anyone who experienced same deal in DMCI?

I reserved a unit in DMCI, and their requirements is:

20% of total contract price = 32 months PDC (post dated cheques)
80% = PDC din, pero they said that this is actually not considered in house financing, they even require a lump sum amount (80%) na PDC din.

Is this ok?, what if i want it to be finance under a different bank or PAGIBIG. Is this really the norm/basic requirements of every real estate developer, what is your setup with other developer?

Pls provide input, before i sign the contract.

Thanks a lot!

[BeerhandBop]

idk. but youre giving them money for something you're not even sure they can deliver to you come 3 year's time.

you're better off buying an older home and have it remodeled.

[annem]

idk. but youre giving them money for something you're not even sure they can deliver to you come 3 year's time.

you're better off buying an older home and have it remodeled.

While other people think owning a pre-sold condo unit is too risky, it is not. It comes with understanding and strategies. The following are its advantages:

1. Price is at its lowest. This is so true because you’re not buying a tangible unit yet. Developers initially offer it at the lowest price so they can use your money to finance the construction. Several price increases happen as the project approaches completion and therefore giving a big yield on your investment.

2. Easier Payment Terms. The down payment which is usually 20% of the total contract price is spread over the number of months prior to completion or RFO date without additional interest. So for example, a unit worth PHP1.8 million that will be completed in 36 months (3 years) and has a 20% down payment of PHP360,000.00 would result to a monthly equal payment of PHP10,000 for 3 years.

3. Unit Location. Generally, there is ample inventory of units in the first 6-9 months after the project launch. The advantage of this is that you can choose a unit according to your preferences.

I hope these enlighten you as it did to me. I am also about to invest in an old condominium but my good friend suggested that I should buy a pre- sold condo instead. And after having understanding about the matter, I eventually bought a unit at Rhapsody Residences, located along the East Service Road, near Sucat Interchange, Muntinlupa.

[marygracedatuin]

idk. but youre giving them money for something you're not even sure they can deliver to you come 3 year's time.

you're better off buying an older home and have it remodeled.

Pre-sold condos are advantageous. View their advantages here: http://www.pinoyexchange.com/forums/...1#post63211930

[marygracedatuin]

idk. but youre giving them money for something you're not even sure they can deliver to you come 3 year's time.

you're better off buying an older home and have it remodeled.

You will definitely think that pre-sold condo is risky if you do not trust the developer. For me, DMCI Homes will always deliver your pre-sold condo on or ahead of time. DMCI has proven its name in the real estate development.

[pakwan]

Problema kahit tumaas ng husto property sa pinas, may bibili ba sayo? pahirapan makapgbenta sa pinas. kahit ofw nahihirapan bumili, i haven't mention un mga kalakaran sa papeles.

think about investing ur money, unless bibili ka ng titirhan mo.

[Jcube]

another thing is, sobrang taas nung CLOSING FEES. Bakit ganoon sa DMCI? For a 1br unit, aabot ng almost 300k ang closing fees. Unlike sa ayala (avida), nasa less than 150k lang ang closing fees dito.