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EARLY OCCUPANCY PROGRAM

 

Why rent if you can own a unit? Grab this chance to live in a unit while paying your monthly payment. It is like renting a unit that will be your own.

 

PROCEDURE

 

  • Prior to reservation, client must submit the filled-up Early Occupancy Application Form together with the complete set of requirements.

 

  • Once client passes the credit investigation (CI), he will receive an official letter informing him of this.

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  • Client must select a unit and a payment term qualified for the Early Occupancy Program.

 

  • Client must submit within 30 days from the receipt of the letter the complete standard SMDC Requirements for booking, including said official letter from SMDC stating that he passed the conducted CI.

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  • Upon clearance of client’s Reservation Fee and Spot Downpayment and submission of his signed Contract to Sell, his unit will be tagged as eligible for move in. SMDC Turnover Group will send a Notice of Acceptance to client regarding scheduling of his and unit acceptance.

 

  • Client may move in to his unit upon completion of the standard SMDC Requirements for unit acceptance and signing of a Deed of Undertaking with SMDC.

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EOP Requirements

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PROMO EOP TERMS

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  • 5% TO MOVE IN

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  • 15% OVER 22 MONTHS 

 

  • 80% THRU BANK FINANCING 

REQUIREMENTS

 

FOR HOLDING A UNIT

 

  • Signed Reservation Agreement

  • For Early Occupancy, RA must reflect a unit qualified for the Program (in terms of availability and unit price)

  • Signed Schedule of Payment

  • For Early Occupancy, SOP must reflect a term qualified for the Program

  • Buyer’s Information Sheet

  • BIR Form 1904 for Spot 20% an above

  • Reservation Fee

  • Complete PDCs / AKCA Requirements

 

 

 

FOR CREDIT INVESTIGATION

 

FOR LOCAL CLIENTS:

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  • Proof of Billing (electricity bill, water bill, phone bill)

  • Photocopy of 2 valid ID’s

  • Latest ITR

  • Optional: Latest Bank Statement or Certification of Deposit (indicating 6 months Average Daily Balance)

 

In addition:

 

Employed

  • Certificate of Employment

  • Latest 2 successive payslip

 

Self-Employed

  • DTI Registration/Sec Papers-Articles of Incorporation

  • Latest 2 year comparative Financial Statement

 

FOR CLIENTS ABROAD:

  • Proof of Billing (electricity bill, water bill, phone bill)

  • Photocopy of Passport and working visa

 

In Addition:

 

Employed or retired

  • Certificate of Employment or Letter from Employer supporting employment (OFW)

  • Latest 2 successive Payslip if applicable

  • Latest ITR if applicable

  • Optional: Latest Bank Statement or Certificate of Deposit

  • Retirement Funding Documents

  • Proof of Remittance

 

Self-employed

  • Business Registration Overseas

  • Latest 2 year comparative Financial Statements

  • Latest Tax Declaration Overseas

  • Latest Bank Statement or Certificate of Deposit (indicating 6 months Average Daily Balance)

 

 

FOR UNIT ACCEPTANCE:

  • Signed Contract to Sell (required for unit to be tagged as eligible)

  • Payment of Working Capital

  • Signed Acceptance Form

  • Attendance of the Turnover Orientation

  • Signed Deed of Undertaking (for Early Occupancy Program)

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