Property Details:
8W36+G5P, 1082, 13th Avenue, Sergio Osmeña Jr Blvd, Cebu City, 6000 Cebu, Philippines
Financial Breakdown:
- Total Contract Price (TCP): ₱18,244,964.00 (This is the original selling price of the unit.)
- Push Discount (11.00%): ₱2,006,946.04 (This is a discount being offered, reducing the price.)
- Net TCP: ₱16,238,017.96 (This is the price after the discount is applied. This is the amount your client will finance.)
Payment Schedule:
-
Downpayment (10% of Net TCP): ₱1,623,801.80 (This is the initial payment required.)
-
Reservation Fee (RF): ₱80,000.00 (This is deducted from the downpayment. It’s the fee to hold the unit.)
-
Net of Downpayment: ₱1,543,801.80 (This is the remaining amount due for the downpayment after subtracting the reservation fee.)
-
Monthly Amortization (10% of Net TCP): ₱1,623,801.80 (This portion of the payment is spread out over time.)
- # of months: 30
- Monthly Equity (at 0% Interest): ₱54,126.73 (This is the monthly payment amount.)
-
Balance (80.00%): ₱12,990,414.37 (This is the final amount due after the downpayment and monthly payments.)
Important Considerations:
- Validity: The computation is only valid until a certain date (which is missing on the sheet). Check with the developer for the current validity.
- Additional Fees: The TCP does not include transfer fees, miscellaneous fees, turnover fees, etc. These are the buyer’s responsibility.
- Transfer Taxes & Misc Fees (Approx. 6% of TCP): ₱974,281.08 (This is an estimate of these additional fees. The actual amount may vary.)
In summary, here’s what your client needs to know:
”This document outlines the payment schedule for Unit 18N in Tower GRC3. The price after the discount is ₱16,238,017.96. You’ll need to pay a reservation fee of ₱80,000 to secure the unit. The downpayment is 10% of the Net TCP. The remaining balance can be paid in 30 months with a monthly payment of ₱54,126.73. Keep in mind that there are additional fees, such as transfer taxes, estimated at ₱974,281.08. This computation is valid for a limited time, so please confirm the details with the developer.”
