Welcome letters are prepared once the reservation payment is received and cleared as well as complete documents are submitted. Unit owner should be able to get a copy of this from the Customer Care Group within 30 days from reservation date.
The release of Contract to Buy and Sell (CTBS) varies depending on the developer of the purchased project and is released within six (6) months from date of reservation.
Official Receipts are available 30 days after the issuance of payment. Megaworld, Global-Estate Resorts, Inc., Suntrust Properties, Inc., and Empire East Land Holdings, Inc. send out the official receipts quarterly on batch basis through client’s mailing address written on the Buyer’s Information Sheet (BIS).
There are several reasons why a Welcome Letter will not be received on time:
The unit will be re-opened due to non-submission of closing documents.
Our partner remittance:
Yes. Proof of remittance/deposit will serve as our reference to recognize your payment.
Yes but this subject to approval of Management. Client must submit a request letter to CCG at least 14 days before the check’s due date. The letter should contain the name of the client, project and unit purchased, date of the check, amount, check number and bank name.
**Hold check deposit may be subject to holding fee.
Blocking is only facilitated once RF and other documentary requirements have been submitted. Since all units are being offered by all regions at the same time, units are on First Come, First Serve Basis.
For MEG, EELHI and GERI, units with RF but no documents may be accommodated for temporary blocking but for SPI, it is strictly implemented that all documents must be submitted before a unit is blocked.
Yes, discounts are extended to clients who wish to pay the whole TCP in cash within 30 days from date of reservation. Discount rates vary per developer and project.
Remittance will be credited to developer’s account within 24 hours from date of remittance (if remitted via PNB and I-Remit Inc.). The concerned developer shall issue an Official Receipt (OR) as proof of payment for the purchased property based on the date the payment was credited to the developer’s account.
US dollar check clearing period will take 30-45 days maximum. The exchange rate of the day it clears will be the applicable conversion rate.
The client should send a Request for Re-structure letter to CCG indicating the old payment schedule and the proposed new payment schedule. Once the CCG receives the letter, they will process it but it is subject to Suntrust’s approval.
Payment through POST DATED CHECKS (PDC) – Peso and US Dollar Currency only
|Megaworld Corporation||Megaworld Corporation|
|Suntrust Properties, Inc.||Suntrust Properties, Inc.|
|Empire East Land Holdings, Inc.||Empire East Land Holdings, Inc.|
|Global Estate Resorts, Inc.||Global Estate Resorts, Inc.|
|Bayshore Residential Resorts & Kingsford||Manila Bayshore Property Holdings, Inc.|
|Twin Lakes||Twin Lakes Corporation|
Payment through CASH VIA REMITTANCE CENTERS OR CORRESPONDENT BANKS:
In order to promptly and properly monitor your remittances, Megaworld has partnered with PNB, UnionBank and I-Remit, Inc. in facilitating remittances.
Client can go to the nearest bank tie up / correspondent bank / remittance center or partners
Fill out the forms to process remittance. Please make sure to indicate the following information:
Monthly Amortization Payments Retail:
|Global-Estate Resorts, Inc. and Empire East Land Holdings, Inc.||Rose Ann Gironemail@example.com|
|Suntrust Properties, Inc.||Maricris de la Cruzfirstname.lastname@example.org|
|Global-Estate Resorts, Inc.||Nikko Tolentinoemail@example.com|
|Empire East Land Holdings, Inc. and Suntrust Properties, Inc.||Feliza Cabotajefirstname.lastname@example.org|
Remittance will be credited to the developer’s account within 24 hours from date of remittance (if remitted via PNB, UnionBank and I-Remit, Inc.). The concerned developer shall issue Official Receipt (OR) as proof of payment for the purchased property.
If the client missed his/her payment deadline, Empire East will send the following notices directly to the client:
Once the client receives the notice, he/she should settle his/her balance and the corresponding penalties (stated in the notice) within the period given by Empire East. If the client missed three months of payment, the unit will be already subject for forfeiture.
For retail clients, the unit will be forfeited if:
For re-sell clients, the unit will be forfeited if:
The client should submit a Back Out letter stating the reason for back-out and his/her appeal for refund. Once CCG receives the letter, CCG will send a Back Out form to be accomplished by buyer. CCG will process this and update the client on the status of his/her request.
Once the client was approved for a refund, it will be only 50% of the total payment made minus the commissions, penalties, interests and incentives. Refund will take 2-3 months to process provided that all payments made are reflected in the system and the client’s documents are already submitted to Suntrust Properties, Inc.
|SPI||Suntrust Properties, Inc.|
|GERI||Global-Estate Resorts, Inc.|
|EELHI||Empire East Land Holdings, Inc.|
|SIG||Sales Information Group|
|SAG||Sales Admin Group|
|SSG||Sales Services Group|
|CCG||Customer Care Group|
|RROP||Request for Reservation and Offer to Purchase|
|CTBS||Contract to Buy and Sell|
|BIS||Buyer’s Information Sheet|
|TCP||Total Contract Price|
|VP||Vice President for Sales|
|BOI||Board of Investment|
|ITH||Income Tax Holiday|
|PEZA||Philippine Economic Zone Authority|
|NRIETB||Nonresident individual engaged in trade or business|