Balai Condominiums (Ilocos Norte), Philippines

 

The Balai Condominiums is a 3-tower upscale condominium complex located within a virgin development which is known as “The Valdez Center” in Brgy. 1 San Nicolas, Ilocos Norte. The Valdez Center Property is a 34 hectare mixed-use, master-planned development which is home to the first ever mall in Ilocos which is the Robinsons Mall Ilocos. We also have the 365 Plaza, a strip mall at the forefront of the property and our stand-alone tenant, the Mcdonalds San Nicolas. Within this property will also rise several commercial strips, activity centers, a central transport terminal and several business blocks. Currently, we are on the finishing stages of Tower 1 Balai Condominiums or Andalucia Tower with a target completion and turn over is on going.

Andalucia Towers has 1, 2, 3 Bedroom Flats and 2, 3, 4 Bedroom Loft Units with fround lofts having pocket gardens. All units have full-baths, spacious living room areas in granite tiles, kitchen with nooks and granite countertops and overhead cabinets and balcony.

The Balai Condominiums also offers housekeeping services and free parking space exclusive for Balai Condominiums owners. A rental management scheme will be facilitated by the Property Admin for the unit owners who will be interested in having their units rented or leased.

Lastly, we assure of the units delivered are fully-finished.

SAMPLE COMPUTATION
TOWER 1
Unit Type: 1 Bedrm
Floor: DeLuxe
Unit No: 309
Area: 49.48 (sqm) / 532.60 (sq.ft)
TCP inclusive of VAT: PHP 3,203,830.00
FOREX rate: USD 1.00 = Php43.00

Cash Today					PHP	USD
Total Contract Price					3,203,830.00	74,507.67
Spot Cash Discount			8%		256,306.40	5,960.61
Net Total Contract Price					2,947,523.60	68,547.06	Day 1
Cash in 45 Days					PHP	USD
Total Contract Price					3,203,830.00	74,507.67
Spot Cash Discount			6%		192,229.80	4,470.46
Net Total Contract Price					3,011,600.20	70,037.21
Less Reservation Fee – Payable day 1 Valid for 30days						0.00	Day 1
Full Payment – 16 to 45 days PDC					3,011,600.20	70,037.21	Day 45
Defferred Cash					PHP	USD
Total Contract Price					3,203,830.00	74,507.67
Discount			3%		96,114.90	2,235.23
Net Total Contract Price					3,107,715.10	72,272.44
Less Reservation Fee – Payable day 1 Valid for 30days					0.00	0.00	Day 1
Net Contract Price					3,107,715.10	72,272.44
Monthly Payments for 12 mos (0% int., w/ PDC)					Php258,976.26	$6,022.70	Day 15 and every month thereafter until month 12
Lite & Easy					PHP	USD	2 Years	5 years	10 years	15 years
Total Contract Price					3,203,830.00	74,507.67
Discount			0%		–	0.00
Net Total Contract Price					3,203,830.00	74,507.67
REQUIRED Downpayment			20%		640,766.00	14,901.53
Less Reservation Fee					0.00	0.00
Net Downpayment					640,766.00	14,901.53
Total Amount for financing			80%		2,563,064.00	59,606.14
Interest rate p.a								11%	12%	13%
Bank Financing Monthly Amortization								Php55,727.21	Php36,772.51	Php32,428.96
								$1,295.98	$855.17	$754.16
Interest rate p.a							12%	15%
In house Financing Monthly Amortization							Php120,652.32	Php60,975.11
							$2,805.87	$1,418.03

Above excludes the following Move-in charges a. Registration Fees are payable to the Register of Deeds of Ilocos Norte b. Documentary Stamp Taxes are payable to the Register of Deeds of Ilocos Norte c. Transfer Fees are payable to the Register of Deeds of Ilocos Norte d. Meter Deposits payable to Local Utility Company       Water Meter and Connection Fees : Php1,500.00 one time payment       Electric Meter Deposit Fees : Php5,000.00 e. Administrative & processing fees payable to Utility Company directly f. Fire Insurance g. Reservation Fee: NON REFUNDABLE

 

BANK REQUIREMENT:

1. PERSONAL DATA REQUIREMENTS

a. Loan Application

b. picture 2×2 of application & spouse

c. marriage contract if annuled entry No and court decision

d. biodata of spouses and co-borrowers/customer information sheet

e. residence certificate of applicant and spouse/ co borrowers

may be waived if Philippine passport or any government issued ID is submitted

f. tin card/tin no.

g. bank book/latest bank statements (6 months)

h. open account with BPI or BPI-Family Savings Bank) can be done through                        bpiexpressonline.com

i. passport copy (all pages)

j. 2 valid id’s of applicant, spouse/ co borrower

k. certificate of employment

l. 3 months pay slips(recent) if OFW proof of remitances

 

2. SPECIAL POWER OF ATTY. (SHOULD BE AUTHENTICATED BY PHILIPPINES EMBASSY IF EXECUTED OUTSIDE THE PHILIPPINES)

3. BUSINESS REGISTRATION

4. FEDERAL INCOME TAX FORMS 1040(US ITR) AND THE APPLICABLE ATTACHMENT

5. RECEIVED BY THE INTERNAL REVENUE SERVICES (IRS)

a. schedule C (form 1040, profit or loss from business)

b. schedule C-EZ (form 1040) net profit form business

c. schedule K-1 (form 1065) partner’s share of income, credits and deductions

d. schedule SE (form 1040) self employment tax

e. form 1065 for US partnership return of income

f. form 1065 for US partnership return of income

g. form 1120 for US corporation tax return

 

 

Payment Scheme as of June 26, 2014