FAQs

What is Reservation Fee? – Reservation Fee is payment made by the client to gain exclusive rights to buy a property in Versailles Alabang, under certain conditions and at an agreed price. It is deductible to the Downpayment and will hold the unit under the client’s name for 15 days or until the first downpayment is made.

How do I pay the Reservation Fee? Client may pay the Reservation Fee thru CASH, CHEQUE or DIRECT BANK DEPOSIT to the developer’s account.

Is Reservation Fee refundable? – No. Reservation Fee is strictly non-refundable and non-transferrable in case of cancellation.

How much is the Reservation Fee? – Please refer to the Reservation Fee table below:

• House & Lot Package – Php 100,000
• Lot Only Package – Php 100,000

What are the grounds for Cancellation of Reservation? Grounds for cancellation of Reservation Fee are (1) Non-payment of Monthly Downpayment and (2) Non-compliance with personal and documentary requirements within the given deadline of submission.

What is Dowpayment? – Downpayment is a fixed amount from the Total Contract Price (TCP) that needs to be paid by the client if financed thru Bank or In-house Financing. Downpayment can be paid on monthly installment at zero interest rate.

How do I pay the Downpayment if thru installment? – Monthly Downpayment shall be paid strictly thru Post Dated Cheques (PDCs) in favor of Stateland Properties.

When will my monthly downpayment start? – Monthly Downpayment shall start 15 DAYS from the Reservation Date. PDCs must be submitted to Versailles Alabang sales office prior to start of downpayment.

I am an OFW/Immigrant, how can I pay my Monthly Downpayment? – For OFW/Overseas-based clients, client is required to assign a family member who is based in the Philippines as their legal representative or Attorney-in-fact (AIF). AIF can issue the post dated cheques required for the monthly downpayment in behalf of the client abroad.

Is Downpayment refundable in case of cancellation? – No. All downpayment paid to your property in Versailles Alabang is non-refundable in case of cancellation of Contract to Sell.

PAYMENT OPTIONS
HOUSE & LOT and LOT ONLY

• Spot Cash – Upon Full Payment of Total Contract Price (TCP)
• Deferred Cash (No Down, No Interest) – Upon 50% Payment of the TCP
• Bank Financing – Upon 30% Payment of the TCP and Complete Documents
• In-house Financing – Upon 30% Payment of the TCP and Complete Documents

How long is duration of the house construction in Versailles Alabang? House construction duration is estimated at 12-15 months.

• Spot Cash – Upon house construction completion
• Deferred Cash (No Down, No Interest) – Upon 70% Payment of the TCP for Non-RFO and 50% Payment of TCP for RFO units.
• Bank Financing – Upon Loan Release / Take-out
• In-house Financing – Upon Full Payment of Downpayment and 3 months amortization + issuance of 12 post dated cheques covering the first year amortization

What is Net Disposable Income (NDI)? – NDI is the maximum amount that can be amortized by the client. Monthly Amortization amount must be equal or lesser than the NDI or Salary Requirement amount.

How do I determine my NDI? – NDI can be determined by this basic formula: NDI = Gross Monthly Income x 0.30 (Credit Ratio may vary depending on employment)

What are the monthly income that I can declare?  – Client (and spouse if married) may declare the following monthly income provided it has supporting document:

• Basic Income
• Allowances
• 13th Month Pay (divided by 12 mos.)
• Commission (6 months average pay-out, 30% of the average only)

Is the Legal Miscellaneous Fee (LMF) included in the Selling Price? – No. Legal Miscellaneous Fee is excluded in the Total Contract Price. LMF amounts to 4.5% of the Selling Price and is due at the end of the downpayment.

Is the VAT included in the Selling Price? – Yes. VAT at 12% is already included in the Total Contract Price.

Are there other charges excluded from the Total Contract Price? – Yes depending on the financing. If client’s financing option is Bank Financing, the bank charges are excluded from the Total Contract Price.

What is the purpose of Bank Charges? Bank charges is the amount paid to the bank in processing the loan. It is excluded from the Total Contract Price and it’s payable directly to the bank upon loan signing. Bank charges is estimated at 3% based on the loanable amount.

Is there move-in fee in Versailles Alabang? – Yes, amount will be discussed during move-in briefing.

What is the comprises the move-in fee? – Electricity and water connection/installation