Here’s a breakdown of the payment terms for your Unit 18N, which is a 2-bedroom unit:
8W36+G5P, 1082, 13th Avenue, Sergio Osmeña Jr Blvd, Cebu City, 6000 Cebu, Philippines
1. Property Details:
- Tower: 3
- Unit: 18N
- Type: 2 Bedroom
2. Payment Summary:
- Total Contract Price (TCP): ₱18,244,964.00 (This is the original price of the unit)
- Push Discount (11.00%): ₱2,006,946.04
- Net TCP: ₱16,238,017.96 (This is the final price after the discount)
3. Payment Breakdown:
- Downpayment (10% of Net TCP): ₱1,623,801.80
- Less: Reservation Fee (RF): ₱80,000.00 (This is paid upfront to secure the unit)
- Net of Downpayment: ₱1,543,801.80 (This is the remaining amount of the down payment after deducting the reservation fee.)
- Monthly Amortization (10% of Net TCP): ₱1,623,801.80
- Payable in 30 monthly installments of ₱54,126.73 (at 0% interest)
- Balance (80%): ₱12,990,414.37 (This is the remaining balance after the down payment and monthly amortizations)
4. Additional Costs:
- Transfer Taxes & Misc Fees (Approx. 6% of TCP): ₱974,281.08 (These cover the costs associated with transferring the property title to you.)
Important Notes:
- The computation is applicable until a specific date (which is not provided in the document).
- The Total Contract Price does not include fees relevant to the sale such as transfer fees, miscellaneous fees, turnover fees, etc., which are exclusively for the buyer’s account.
In simpler terms:
The price of the property is PHP 18,244,964.00. However, you will be given a push discount of PHP 2,006,946.04, so the final price will be PHP 16,238,017.96. To reserve the unit under your name, you have to pay PHP 80,000. The downpayment is 10% of the Net TCP. The remaining balance can be paid in 30 months. The transfer tax and other miscellaneous fees is around PHP 974,281.08.
