AURORA TOWER CONDOMINIUM, (Overlooking the Beautiful China Sea)

Buyer’s Guide 

Reservation Requirements

FOR LOCAL BUYERS

Upon reservation, you will be asked to fill up a Reservation Agreement Form. Along with this, a reservation fee of P50,000 for the unit must be made.

The reservation is nonrefundable and is valid for 30 days only. To complete your reservation, the following documents must be submitted within 7 days from the date of reservation:

1. Signed Reservation Agreement Form, Client Registration Form, and Final Computation Sheet (forms and computation template will be provided by us). 2. Photocopy of 2 valid government-issued IDs. 3. Tax Identification Number (TIN) and Income Tax Return (ITR). 4. Proof of Billing. 5. Notarized Special Power of Attorney and 2 valid government-issued IDs of SPA holder, if applicable.

After submission of the required documents, you will be asked to sign a Contract to Sell/Deed of Absolute Sale. To avoid the cancellation of your reservation, please make sure to submit all the above documents including the signed Contract to Sell/Deed of Absolute Sale plus postdated checks within 30 days from the date of reservation. Payments and Financing

There are three available payment terms for purchasing your DMCI Home: 1. Cash. 2. In-house financing, with a maximum term of 15 years. 3. External financing: * Bank. * Pag-IBIG (Home Development Mutual Fund).

Based on the terms of payment agreed upon on your reservation agreement or your Contract to Sell, you’ll be required to begin paying your downpayment 30 days after the reservation date.

Turnover Process

The turnover process is the most important to a new homeowner because this is when the property finally changes hands.  Because we know how important this is to you, we would like to share some guidelines to make the transition smooth and satisfactory for both parties.

Turnover Process

• Completion of unit will commence upon issuance of Authority-To-Turnover (CLEARANCE) by AuroraLands, Inc.
• Completion date:
  • Thirty (30) days for single condominium unit.
• Punchlisting/inspection by the client will be scheduled after the completion date.
• Rectification of punchlisted items will be done immediately but completion date may vary depending on the nature of the punchlisted item/s.
• Client is responsible in settling all required fees & deposits prior to unit turnover.
• Homeowner Orientation of community house rules, policies & regulations is done during handover of unit.
• Upgrade/improvements will be allowed only after the acceptance of unit.
• Note that certain warranties may be voided by any unit material alteration.

Required Fees & Deposits

• MERALCO Service Deposit for permanent power connection.
• Real Property Tax (RPT) – client’s share.
• Condominium Corporation fees & dues.

Condominium Corporation Fees & Dues

• One time Joining/Membership fee.
• Monthly Association dues.
• Construction bond (for unit with owner’s upgrade).
• Insurance premium.
• RPT of common areas.
• Other Condominium Corporation assessment.

FAQ:

1. When can I move in?

You can move in within 30 days after you have fully accomplished the following:  Complete Requirements, Signed Contract to Sell (for buyers under financing) or Deed of Absolute Sale (for Cash Buyers), the minimum required downpayment to move in (for buyers under financing), and the release of clearance from AuroraLands, Inc..   If your unit is already ready for punch listing, a Turnover Group Assistant will call you for your unit’s punch listing schedule.  Please coordinate with the Turnover Group Assistant for your turnover schedule.

Provided all the move-in requirements and move-in conditions are met, you can already move in to your unit.  The preliminary inspection of the unit shall be conducted with you based on the specified turnover conditions set by AuroraLands, Inc.  Arrangements on the installation of the water, electrical, cable and telephone units will also be conducted at this point.  Your Condominium Corporation officer shall be more than willing to assist you on these matters.

If you plan to move in upon acceptance of the unit, please inform our Turnover Group Assistant so that the necessary arrangements can be made to facilitate your move-in.

In case the buyer fails to inspect the unit within thirty days from the date of notice, it shall be deemed that the buyer has automatically accepted the unit.

Confident of the quality of AuroraLands construction, All our projects come with a warranty against construction defects and workmanship within one year from the date of acceptance/turnover by the homeowner.  Warranty concerns shall be forwarded to the Property Management Office.  However, please take note that the normal wear & tear or misuse by homeowners or tenants is not covered by this warranty.

2. Are there fees after I move-in?

Yes, you should provide the payment for your own Meralco Meter deposit (the Meralco Meter will be under your name), the Monthly Association Dues, and other miscellaneous fees from the Property Management.

3. When do I start paying Association Dues? Once the unit has been turned over, you will be obliged to settle the association dues, whether the unit is occupied or not.  For example, if a unit had been turned over in July, but you did not move in until August, you are still obliged to settle the Association Dues for July.