About Reservation of House in Lancaster New City - House For Sale Cavite Philippines

About Reservation of House in Lancaster New City Cavite

Discover easy steps and procedure on how to reserve a house in Lancaster New City Cavite. Here, we will answer frequently asked questions about reserving a house in Lancaster New City Cavite.

What are the steps and procedure in reserving a house?

  • Fill up completely and sign a Buyer’s Information Sheet and Reservation Agreement form. A representative may sign in Buyer’s behalf.
  • Submit them to Profriends’ Reservation Officer for verification.
  • Onced approved, pay the reservation fee to the Cashier.
  • Receive, bring home and read all loan documents given by the Reservation Officer.
  • Be sure you read and understood the terms and condition in the Contract to Sell.
  • Congratulations! The house is reserve in your name for 30 days.

What is a Reservation Fee?

  • The Reservation Fee closes the sale on a first-come, first-served basis.
  • Reservation payment will hold the house for you.
  • No payment, No reservation.
  • It forms part of the down payment (DP).
  • It is non-refundable in case the account is cancelled.

How much is the Reservation Fee?

Alice, Manor – Php 7,500.00
Catherine, Diana, Thea, Anica – Php 10,000.00
Sophie, Margaret, Gabrielle, Alexandra – Php 20,000.00
Chessa, Briana, Candice, Adelle, Mabelle – Php20,000.00

Are there discount on Reservation Fee?

Yes, when there is a Promo. Please take note:
  • Reservation discount is not transferrable.
  • Once you decide to transfer to another unit, you will pay full amount of reservation fee.

When does the reservation payment expire?

Your reservation payment is valid for 30 -45 days.

Can you transfer the reservation payment?

  • Yes, subject to approval
  • Transfer is only allowed within 120 days from reservation date.
  • Transfer is allowed to nearest relatives only.
  • Transfer is allowed to another project provided same developer.
  • When there is new price increase, it may apply during transfer.
  • A transfer fee of Php 3,000.00 is charged upon release of approval.

How can you reserve a unit?

You must fill up a form – Buyer’s Information Sheet (BIS) and a Reservation Agreement (RA) then pay the reservation fee at any Profriends’ offices – Main, Imus & Site Offices.

What is Reservation Agreement (RA)?

The Reservation Agreement (RA) is a 7-page form that identifies the property you will purchase and its specifications. For example: Project, Block and Lot No., Lot Area , House Type, Floor Area and Schedule of Payment
Also stated in the Reservation Agreement that reservation payment is not refundable.

What are the grounds for cancellation of the Reservation Agreement?

  • Failure to appear in person for loan counseling.
  • Failure to pay the first DP, in which case the Reservation fee (RF) is forfeited.
  • To avoid forfeiture, you must submit/email a Promisory Letter stating the date of payment.
  • Failure to remit any three (3) consecutive monthly installments or amortizations;
  • Failure to submit within the prescribed period any of the documents that may be required by Pro friends or the financing institution;
  • Willful misrepresentation or falsification of any document submitted;
  • Voluntary withdrawal from the Reservation Agreement (RA) for any reason whatsoever.

Can you pay the downpayment immediately during reservation?


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Topic: Reservation

See also: House For Sale

Know more about:
Buying Procedure
Move-in Process