Frequently Asked Questions
What are the requirements to reserve a property for an individual?
1. Fill up Reservation Application (form to be given by your Account Manager)
2. Fill up Individual Buyer Information Sheet (BIS) - (for all buyers, spouse included, if married)
3. Payment of Reservation Fee (either thru through cash, check, remittance or auto-debit) Note: If payment is made thru through check, check should be made payable only to Moldex Realty Inc.. If payment is made thru through cash, this should be made given directly at the Moldex Realty, Inc.'s cashier to Moldex Realty, Inc. cashier.
4. Submission of valid government-issued ID with picture and signature (for all buyers, spouse included, if married)
5. Submission of Tax Identification Number (TIN) ID (for all buyers, spouse included, if married)
6. Proof of Billing Address (should be the same address as indicated in the BIS)
7. Marriage Contract or Birth Certificate.
What are the requirements to reserve for a corporate account?
1. Fill up and sign Reservation Application by the duly authorized signatory/ies signatories of the corporation.
2. Fill up Corporate Buyer Information Sheet (BIS)
3. Submission of the following corporate documents:
- o Secretary's Certificate/Board Resolution adopted by the members of the Board of Directors of the company allowing the company to purchase a property with MRI and designating the authorized signatories for and on behalf of the company (original copy).
- o Articles of Incorporation and By-Laws (certified true copy).
- o SEC Registration (certified true copy)
- o Valid government-issued ID with picture and signature of the members of the Board of Directors, Corporate Secretary and authorized representatives/designated signatories.
- o Tax Identification Number (TIN) ID of both the company and its authorized representatives/designated signatories.
4. Proof of Billing Address (should be the same address as indicated in the BIS).
Are foreigners allowed to purchase a property? What are the requirements?
Foreign nationals are allowed to purchase condominium units provided that at least 60% of the Project is owned by Filipinos and foreign nationals ownership shall not exceed 40%. Foreign nationals are prohibited from acquiring and owning land in the Philippines.
If my husband / wife is a foreigner, are we allowed to purchase a property? What are the requirements?
If one of the spouses is a foreign national, the following rules shall apply:
1. Purchase of Condominium Unit
Both spouses can acquire condominium units
2. Purchase of House and Lot/Townhouse Unit
Only the Filipino spouse can acquire the house and lot or townhouse unit, but the Filipino spouse must indicate in all the documents related to this transaction the name of the foreign spouse.
What are the payment terms?
There are various terms available that will fit in to your budget, CASH, Deferred, Installment through In-house financing, Bank financing or Pag-ibig fund.
What is a Reservation Agreement?
A Reservation Agreement (RA) is a document executed by the buyer, declaring his intent to purchase a specific Unit/House and Lot, together with his payment of the Reservation Fee, and subject to the approval by MRI.
What is a Contract to Sell?
A Contract to Sell (CTS) is a contract governing a purchase of a specific Unit/House and lot Lot whereby the terms and conditions of the sale, such as but not limited to the payment terms and transfer of ownership, are stated.
Can I authorize a representative to sign the Contract To Sell on my behalf? What are the requirements?
Yes. Should the buyer wish to authorize a representative to sign the Contract to Sell on his/her behalf, the authorized representative should present and submit an original copy of a duly notarized (or consularized, if executed outside the Philippines) Special Power of Attorney (SPA), together with the buyer/s’ valid government-issued ID as well as his/her own for validation.
If I want to apply for a loan, what should I do?
The buyer/s can inquire only from MRI's accredited banks for their detailed loan application process for any MRI project. These accredited banks take on the purchase price of your unit as its appraised value.
- 1. The buyer/s should only obtain financing for any portion of the purchase price from any financial institution that is accredited with MRI.
- 2. The buyer/s undertakes to submit to MRI the LOG on or before six (6) months prior to the due date of the amount to be covered by the financing.
- 3. In case the buyer/s fails to submit the LOG on the said date, MRI shall have the option to:
- o Collect from the buyer/s all amounts due under such payment schedule and terms as my may be required by MRI
- o Cancel the contract and forfeit all payments made
What is an LOG (Letter of Guarantee)?
A Letter of Guarantee (LOG) is a written guarantee from the bank that the buyer/s has complied with the bank requirements for the release of loan to cover payment for any portion of the purchase price.
Based on the house models offered in the website, are existing lot owners and buyers qualified to avail of house construction services of Moldex Realty?
Fully paid and amortizing lot buyers under in-house financing are automatically qualified to avail of the house construction program of Moldex Realty. Fully paid buyers are required to surrender the original owner's duplicate copy of Title. For Lot buyers amortizing under in-house financing , a new contract shall be executed for a House and Lot package.
For lot buyers amortizing under in-house financing who desire to avail of the house construction through external financing, a new contract shall be issued and executed for a House and Lot purchase in which construction of the house shall commence upon the receipt of the Letter of Guarantee (LOG) from the financing institution concern.
If I avail of the house construction services, when will you begin the house construction?
If all documents required had been submitted, normally house construction starts one month after the completion of the full down payment.
Prior to the actual house construction, the following activities had to be implemented:
- - Planning & Engineering Group – work on the plans, specifications and bill of materials
- - Project Documentation Group – secure building permit and survey layout
- - Construction Group – requisition of materials and awarding construction project to accredited contractor
- - Purchasing Department – procurement of materials
How long do I expect the house construction be completed?
We expect the house to be ready within six to eight months.
Will Moldex Realty accept my proposal for some changes in the design of my house?
Changes are acceptable provided the meet the following conditions:
- - The account is under in-house financing
- - The proposed changes will not alter the facade of the unit
- - The timetable of the purchasing the materials will not be affected
- - There will be no alteration on the structural plans.
- - Proposed revision is requested prior to the finalization of the buyer's documentation.
- - Any add-on costs on the revision of design, including the other fees shall be shoulder by the client.
- - Proposed revision shall conform with the subdivision deed of restrictions
- - Client is willing to wait for the revised plan on the specifications and bill of materials
- - Changes in fixtures of the unit shall be requested before construction period and shall be shoulder by the client for any add-on cost.
When can I move in to my house?
Upon completion of the construction, you shall be notified to ocular inspection. If you are satisfied and find the unit acceptable, you shall sign The Certificate of Acceptance to formally accept the unit. You shall be issued the Authority to Transfer upon payment of move-in fees and other necessary charges.
For other details that had not been covered, please give us a call or send us email message through Contact us tab. Or Simply click on the live help button at the right top pane.