Frequently Asked Questions
Why do I have to pay for Association Dues? The Association Dues are an assessment of the community’s regular operational expenses based on the operating budget and projected expenditures for the year.
When will Association Dues start? Payment of association dues automatically starts from the day your unit has been accepted or deemed accepted.
What is the scope of Closing Fees? Closing fees cover documentary stamp tax, transfer fees, registration fees, notarial and documentation fees and other administrative and handling fees in order to transfer title to buyer’s name.
What is the minimum downpayment? It depends on the project. For DMCI Homes earlier projects, minimum downpayment is 10% to 20% of contract price. While minimum downpayment for newer projects is 20% to 30% of contract price.
Are pets allowed? It depends on the project. Most of our condo communities allow two small, domesticated pets per unit.
REAL ESTATE PROPERTY TAX (RPT)
What is Real Estate Property Tax (RPT)? Real Estate Property Tax is a tax applied to local real estate based on the fair market value of the property. It is paid to the local government where the property is situated.
Real Estate Property Tax (RPT) on unit is paid by the unit owner based on its floor area and the developer advances payment of RPT in behalf of its clients and buyers. DMCI Homes (DMCI Project Developers, Inc.) shall release the title to the buyer once the RPT along with the other requirements are settled. From then on, the buyer shall pay the RPT on unit directly to the land tax division of the local government.
Payment of RPT on your unit starts from the day your unit has been accepted or deemed accepted.
Since I have already bought my unit, can I add improvements to it? You may design your unit based on your preference and style. However, since your unit is connected with other units, major alterations must be approved by DMCI Homes (e.g. walls, ceilings, toilet and bath) as these may affect other units. Moreover, conduct inside your unit and the community is bounded by House Rules set by DMCI Homes through PMO, to protect the lives and properties of the entire community.
Does DMCI Homes provide warranty to my unit? Yes. Your unit is backed by two (2) years warranty on workmanship from the day your unit has been accepted or deemed accepted. Please take note that certain warranties may be voided by alterations.