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TURN OVER PROCESS

TURN OVER 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’d 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 Documentation

 

 

 

Completion date:

 

1. Thirty (30) days for single condominium unit
2. Forty-five (45) days for tandem condominium units
3. Approximately Nine (9) months for unit construction

4. Punchlisting/inspection by the client will be scheduled after the completion date
5. Rectification of punchlisted items will be done immediately but completion date may vary depending on the nature of the punchlisted

items
6. Client is responsible in settling all required fees & deposits prior to unit turnover
7. Homeowner Orientation of community house rules, policies & regulations is done during handover of unit
8. Handover kit and welcome gift is given to client upon acceptance of unit
9. Upgrade/improvements for his unit will be allowed only after the acceptance of unit
10. Note that certain warranties may be voided by any unit material alteration
Requirements prior to issuance of CLEARANCE

 

1. Payment of the minimum downpayment required
2. Issuance of required post dated checks for the balance of Total Contract Price
3. Submission of duly signed CONTRACT TO SELL / DEED OF ABSOLUTE SALE & other     pertinent documents
4. Letter of Guarantee (LOG) & Drawdown/Loan Take-out (for external bank financing only)
Required Fees & Deposits

 

1. MERALCO Service Deposit for permanent power connection
2. Real Property Tax (RPT) – client’s share
3. Cash Bond for temporary power (if permanent power service is not yet available)
4. Condominium Corporation fees & dues

 

Requirements for Permanent Power Connection

 

1. Proof of ownership (CTS/DOAS or CCT)
2. Duly accomplished MERALCO application form
3. Two (2) valid IDs
4. Duly signed MERALCO waiver
5. Authorization letter (if accomplished thru representative)
Condominium Corporation Fees & Dues

 

1. One time Joining/Membership fee
2. Monthly Association dues
3. Construction bond (for unit with owner’s upgrade)
4. Insurance premium
5. RPT of common areas

6. Other Condominium Corporation assessments

 

Buyer Acceptance

 

If the buyer fails to inspect and accept the unit within thirty (30) days from the date of notice that the unit is ready for turnover, it shall be deemed that the buyer has automatically accepted the unit.

 

Acceptance by a Representative

 

– If the registered buyer is not available on the scheduled turnover of unit, his/her duly  authorized representative can accept the unit

in his/her behalf. The representative must be designated as a duly notarized Special Power of Attorney (SPA).
– The unit turnover cannot be delayed on account of SPA’s availablity schedule

 

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