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Frequently Asked Questions
Get detailed answers to the most common questions that first-time and seasoned homebuyers often have. From understanding the step-by-step homebuying process. This section is designed to guide you through every stage with clarity and confidence.
1. What is the difference between a Ready-For-Occupancy (RFO) unit and a pre-selling unit?
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RFO Unit stands for Ready for Occupancy. This means the house is fully constructed and available for immediate move-in once payment and documentation are completed. RFO units are ideal for buyers who need a home quickly or prefer to see the actual unit before purchasing.
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Preselling Unit refers to a house that is still under construction or in the planning stage at the time of purchase. Buyers of preselling units often enjoy lower introductory prices, longer payment terms, and more unit choices, but must wait for the property to be completed before moving in.
2. What is an LOI (Letter of Intent), and why do I need to sign it instead of a Reservation Form?
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A Letter of Intent (LOI) is a non-binding document that expresses your serious interest to purchase a property.
We require clients to sign an LOI instead of a Reservation Form in specific cases—usually when:
a. The unit is still under internal processing or approval.
b. Final pricing, availability, or documents are not yet ready for full reservation.
c. The project is under pre-development stage.
Signing an LOI allows us to prioritize your intent and keep you informed once the unit becomes available for formal reservation. It is a preliminary step, and once everything is finalized, you will be asked to sign the official Reservation Agreement.
3. What is the KYC (Know Your Customer) Verification Form for?
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The KYC Verification Form is part of the reservation process and is required by the bank as part of their due diligence for housing loans. It serves as proof that the
Seller personally conducted a presentation or interview with the Buyer, either in person or via an online meeting.
This form must be signed by both the Seller and the Buyer and helps the bank verify that:
a. The Buyer fully understands the property details and payment terms.
b. The reservation and purchase were made with proper disclosure and informed consent.
c. The transaction was not done anonymously or through unauthorized third parties.
​Completing the KYC Verification Form protects both the buyer and the seller and helps ensure a smooth loan application process.
4. What is NDI (Net Disposable Income), and how do you determine if a buyer qualifies for a housing loan?
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NDI (Net Disposable Income) refers to the amount of income a person has left after all fixed expenses, such as existing loans or financial obligations, are deducted. Banks use NDI to evaluate whether a buyer can comfortably afford the monthly amortization of their housing loan.
To qualify, we use a simple formula:
Monthly Amortization (existing loans + new loan) × 3.5 = Required Gross Monthly Income
This multiplier ensures that the buyer’s loan payment will not exceed a safe portion of their income.
Example:
For a 20-year loan with a monthly amortization of ₱12,000, the required monthly income would be: ₱12,000 × 3.5 = ₱42,000
This means the buyer should earn at least ₱42,000/month (before taxes) to qualify (Existing net of loans).
Note: Additionally, banks will review any existing loans you may have (such as car, personal loans or other loans) and factor those into your NDI calculation. If your obligations are too high, it may affect your approval or loanable amount. Bank approval is upon bank discretion and not Taylormade.
5. What is a Special Power of Attorney (SPA)? What is a Consularized SPA?
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A Special Power of Attorney (SPA) is a legal document that authorizes another person (called your Attorney-In-Fact) to act on your behalf for specific transactionssuch as signing documents, receiving notices, or representing you in the purchase or turnover of a property.
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This is especially useful if you are unavailable or living abroad during critical stages of the transaction.
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A Consularized Developer’s or Apostile SPA is an SPA that is executed abroad and authenticated by the Philippine Embassy or Consulate in the country where the buyer resides. It serves as the official confirmation that the SPA is valid and recognized under Philippine law.
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Locally executed SPA should be notarized by a notary public and submit 5 original to the developer.The transaction was not done anonymously or through unauthorized third parties.
6. Who is the Attorney-in-Fact (AIF)?
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The Attorney-in-Fact (AIF) is the person authorized through a Special Power of Attorney (SPA) to act on behalf of the buyer. This person can sign documents, receive notices, or represent the buyer in specific transactions related to the purchase of the property.
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The AIF must act within the scope defined in the SPA and is usually appointed when the buyer is unable to be physically present, such as when they are working or living abroad.
7. Is Interim Financing the same as In-House Financing?
No. Interim Financing and In-House Financing are not the same.
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Interim financing is a short-term bridge financing used only when a client is waiting for the release of their already approved bank loan. It is offered strictly as a temporary arrangement and requires prior loan approval.
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In-house financing, on the other hand, is a payment option for the remaining balance, to be paid in installments under agreed terms.
8. Why does Taylormade require Post-Dated Checks (PDCs) for Interim Financing?
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We request Post-Dated Checks (PDCs) for Interim Financing as a standard part of our payment security process. These are collected as guarantee checks and will only be used if there is a delay in the release of your bank takeout loan.
Here’s how it works:
a. While you wait for your bank loan proceeds, interim PDC’s are required to keep the project on schedule.
b. To ensure continuity and avoid disruptions, we ask for PDCs covering these interim payments. Once your bank releases the loan proceeds (takeout), we will refund any principal amount (FROM MONTHLY AMORTIZATION AMOUNT) payments you have made from the total and return all unused checks to you.
c. The clients will notified in case there is a need for Interim financing on their account.
d. Subject to approval of Taylormade.
This process provides both parties with assurance and ensures that your home construction or turnover is not delayed due to temporary financing gaps.
9. What is a Co-Borrower in a bank home loan?
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A co-borrower is another person who applies for the home loan with you and shares equal responsibility for repaying it. The bank will assess both your incomes, credit histories, and financial capacities when deciding the loan amount.
10. Who can be my Co-Borrower?
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Usually, banks allow immediate family members such as a spouse, parent, child, or sibling to be a co-borrower. Some banks may allow other relatives, but friends or unrelated individuals are typically not permitted.
11. Why add a Co-Borrower?
Adding a co-borrower can:
a. Increase your loan eligibility (combined incomes are considered).
b. Strengthen your loan application if your own credit profile is not strong enough.
c. Share repayment responsibility.
12. Is a Co-Borrower also a Co-Owner?
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Not necessarily. Being a co-borrower means sharing loan responsibility. Being a co-owner means having legal ownership of the property. A person can be both, but banks often require that all co-borrowers are also co-owners.
13. What are the risks of being a Co-Borrower?
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Both borrowers are equally responsible for repayment. If one fails to pay, the other is still liable for the full loan amount. Missed payments can affect both credit scores.
What is CMAP: In Philippine real estate, if a buyer is listed in the Credit Management Association of the Philippines (CMAP), it’s often a red flag for banks and developers.
Why it matters:
a. CMAP is essentially a negative credit listing shared among banks, financing institutions, and developers.
b. A record there usually means the person has a history of loan defaults, unpaid credit cards, or bounced checks.
c. When banks pull up the CMAP report during a housing loan application, being listed can lead to outright rejection or require the buyer to settle the issue first before reconsideration.
14. What are theTypical bank process?
a. Buyer applies for a loan with a bank.
b. Bank runs a CMAP check.
c. If the name appears in CMAP, the bank will either:
- Decline the application immediately
- Put it on hold until the buyer provides proof of settlement/clearance.
15. What is Punchlisting?
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Punchlisting is the process where the buyer conducts an inspection of their unit prior to official turnover. During this inspection, the client can identify any minor repairs, touch-ups, or adjustments that need to be addressed before move-in.
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A Property Management Officer and a Site Engineer will accompany the client during the punchlisting to take note of the observations and ensure that any issues raised are resolved promptly.
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This step ensures that your home is delivered in good condition and meets the quality standards expected by both the buyer and the developer.
16. Why do I need to submit Post-Dated Checks (PDCs) for the Maintenance Fee (HOA fees)?
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We require Post-Dated Checks (PDCs) for the Maintenance Fee before your unit is turned over to ensure continuous upkeep of the community and its shared services.
The Maintenance Fee typically covers:
a. 24/7 security
b. Garbage collection
c. Maintenance of common areas (roads, sidewalks, parks, etc.)
d. CCTV and other operational costs
Submitting PDCs in advance helps ensure that these essential services are sustained without interruption. It also allows for smooth coordination with the Homeowners Association (HOA) once it is fully established. Rest assured, these checks are strictly for maintenance-related dues and will be scheduled according to your HOA fee schedule.
Note: Maintenance fees will vary depending per project.
17. Is the unit internet ready?
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For projects with center metering layout, the internet cable tubes are already provided per unit, allowing easy installation by the buyer’s chosen internet service provider.
18. Why do I need to submit 6 Post-Dated Checks (PDCs) for utilities before moving in?
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The 6 Post-Dated Checks (PDCs) for utilities are guarantee checks required prior to your move-in. These are collected as a safeguard in case the homeowner fails to settle their monthly utility bills (such as electricity and water) during the interim period.
Here’s how it works:
a. Upon unit turnover, your utilities will be connected using temporary submeters managed by the developer.
b. While your permanent utility connections are being processed (which is done per block), monthly utility consumption will be billed based on these submeters.
c. The PDCs are not immediately encashed and will only be used if monthly utility bills remain unpaid.
This ensures continued utility services for your home while we work on the permanent line applications with the providers.
19. Can I make any alterations to the facade of the house I bought?
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No, exterior modifications to the facade are strictly not permitted. This policy is in place to maintain a uniform and attractive appearance throughout the community, which helps preserve the overall aesthetics and positively impacts property values for all homeowners.
Note: We encourage homeowners to express their personal style through interior design while keeping the exterior consistent with the community’s architectural standards.
20. What is the warranty period of the house I purchased?
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The house comes with a 6-month warranty, starting from your official turn over date. During this period, we will cover repairs for any construction-related issues covered under the warranty terms.
Note: Any interior, alterations, renovations, or modifications made to the house within the warranty period will automatically void the warranty. To preserve your coverage, we recommend holding off on any changes until the 6-month period has ended.
21. Is the project pet-friendly?
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Yes, homeowners are allowed to keep small, domesticated pets only within their unit.
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