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^some developers collect Turnover Dues separately from balance of condo unit's TCP. Century properties call them GMTOE which is included in the Reservation Agreement or Contract to Sell at 6% but fonts are too smal like they are trying to hide something. With DMCI it's around 9-10%. Others like Robinsons Land its also 6% but their TCP is already inclusive of this. For Smdc it is also inclusive.

It really depends on what your contract to sell says or even in the reservation form it should have that. Ask your agent or the developer accounting dept or CS.
 

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I have paid 100% cdownpayment one month after reservation and on the 4th monthly installment of the remaining balance of total contract price (remaining 48mos til turnover date). Still no CTS to date and still no floor plan for the 3br unit with balcony for Avida Turf 2 BGC provided. I always follow up but they said some delay, still not available etc. Is this normal? :(

Also just want to ask how much is real estate tax in BGC? Will only pay this after unit is turnover right?
 

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Hi Guys!

I bought a unit at AMAIA Skies Shaw. We had reservation last month Jan 11,2018. Already paid the downpayment Jan 29, 2018. Signed bank loan last week Feb 1, 2018. The bank already send the documents to Amaia and it is signed and is scheduled to be back to the bank this week. If the loan will be release this month, the bank said I will paying the MA next month. Is the procedure correct? Btw I don't have any documents with me. Just some provisionary reciept for the DP and Reservation. What documents should I get? I just signed tons of paper for the bank also
 

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I have paid 100% cdownpayment one month after reservation and on the 4th monthly installment of the remaining balance of total contract price (remaining 48mos til turnover date). Still no CTS to date and still no floor plan for the 3br unit with balcony for Avida Turf 2 BGC provided. I always follow up but they said some delay, still not available etc. Is this normal? :(

Also just want to ask how much is real estate tax in BGC? Will only pay this after unit is turnover right?
^^ Depending on the developer, CTS would take at least six months to a year, sometimes 5 years. I recently sold a condo and the process from Payment/Deed of Sale to BIR Capital Gains to LGU Tax Clearance to Registry of Deeds transfer to buyer's name to LGU Tax Declaration under the buyer's name, all being followed up, took a whopping 5 months, all without "lagay". Of course there are a bazillion "holidays" due to storms, public transport strikes, LGU holidays, religious holidays, etc. hence why it really takes so long even if dilligently followed up.

As for real estate taxes, you have to pay that every year to the city of Taguig.
 
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So loan proceeds will be released today. My Agent said they will process the CTS and Deeds of Absolute Sale then turnover schedule. How long does it take to process the documents?
 

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Lumpsum due date extended to June 2018. So further delays ulit.


Well at least they are extending the payment for the lump sum. Unlike in one of our Avida condo, they still require us to pay the lump sum even our unit was not yet ready for turnover.
 

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Content of letter received:

Greetings from Federal Land!

We write to you with regard to your purchased property at CENTRAL PARK WEST.

Thank you very much for your trust and confidence as we continue to work towards achieving the highest quality and safety standards for all of our properties.

Much to our regret, please allow us to explain that our independent contractors are continuing to experience delays in the completion of the project as a result of rapid and simultaneous developments in the real estate and construction industry. With this, shortages in the availability of skilled manpower are being experienced by most of the contractors. We are closely working with the contractors to expedite the completion of the project and your units.

As such, we would like to ask for your understanding as we make progress on the turnover of the units. We stay committed to you to deliver a product worthy of our quality and safety standards. Please anticipate the start of unit turnovers to clients by the second half of 2018. At this point, you may now prepare to pay for the outstanding balance for your purchased property and/or start your bank loan application in preparation for the turnover (Please disregard this if you are fully paid already including taxes and fees).

Rest assured that you will be officially notified in writing, as soon as your unit is ready for turnover. Should you have further inquiries, please do not hesitate to get in touch with us through the contact details below.

Thank you for your patience.
 

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I was at their office at the time I received the email regarding delayed turn over once again. It's surreal bec I was complaining about not receiving notice about further delays and I received it when I was there. It was like they sent the email this morning to shut me up.
 

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No guys, original turnover date was June 2016. My payment schedule and turnover balance initially indicated a June 2016 turnover. This project has been delayed for so long i no longer want to make any rant so it wont ruin my day. lol.
 

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Any legal people in the house? Are developers not legally-liable to the delays?

What's the point of having a deadline in the License to Sell if the HLURB will not penalize developers for significant delays such as this?

I'm assuming Megaworld is also delayed as they are always delayed? It's funny how despite these delays the condos are still selling like hotcakes in BGC. It doesn't affect the developer reputation or marketability at all.
 

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I talked to them yesterday and HLURB does give penalties. Federal Land says that they paid the penalties imposed by the HLURB for the delays, but I would assume that these penalties are pennies for Federal Land.

What is infuriating for me is that their current notice is very non-committal. They could deliver by July 1 or December 31 2018.
 

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In fairness to Federal Land, before the Central Park Veritown projects, they've had a reputation of delivering their projects early.

Any legal people in the house? Are developers not legally-liable to the delays?

What's the point of having a deadline in the License to Sell if the HLURB will not penalize developers for significant delays such as this?

I'm assuming Megaworld is also delayed as they are always delayed? It's funny how despite these delays the condos are still selling like hotcakes in BGC. It doesn't affect the developer reputation or marketability at all.
 

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No guys, original turnover date was June 2016. My payment schedule and turnover balance initially indicated a June 2016 turnover. This project has been delayed for so long i no longer want to make any rant so it wont ruin my day. lol.

Hi commoner, I think we're on the same boat, we bought early that's why we were told mid2016.

I at attempting to set up a meeting to talk to their VP (customer service) to get some legit answers rather than canned answers from their customer service personnel. If anyone wants to come, drop me a private message. Strength in numbers?
 
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