The required document varies depending on the type of property you purchased.  The following are required documents from Ayala Land Premier and Alveo Land Corp., when you reserve a property:

Reservation fee of P50,000
Reservation Agreement Form (original and fully accomplished with accurate details)
Original Membership Application Form (duly accomplished and signed by the buyer) for Club Share
Original Neighborhood 4 (N4) Consent Form for Anvaya lots

For Avida Land properties the following are the required documents when you reserve a property:

Reservation fee of P50,000
Reservations Agreement Form (original and fully accomplished with accurate details)
Buyer Information Sheet
Annex to Reservation Agreement
Housing and Land Use Regulatory Board Form (HLURB)
Association Letter
First Life Form
1904 if TIN Number is required
Additional Supplemental Agreement
Bank Financing / Pag-ibig documents
SPA if buyer is unavailable

Signed computation sheet after your reservation, there will be additional documents required by Ayala Land to complete your purchase.  The required documents will also vary depending on the type of property you purchased.  For Ayala Land Premier and Alveo Land Corp., projects the following documents are required:

Down payment check
Credit Approval
Photocopy of valid ID (preferably passport), containing spelling that is same as Final Reservation Agreement and TIN validation
Tax identification number validation (E-TIN or 1904/1903), containing spelling that is same as the Final Reservation Agreement and passport/ID
Signature cards, for Anvaya shares
Request to Accept Payment

For Avida Land properties, the following are required to complete the purchase.

Down payment
Credit Approval
Pay 10% down payment
Minimum of 12 down payment checks

The additional expenses which you have to pay for include taxes, fees, and association dues.

The typical taxes/transaction cost in the sale of real property from the developer to a buyer are the following:

Income/Creditable Withholding Tax

The developer is subject to a 35% income tax payable to the Philippine Bureau of Internal Revenue (BIR) on income derived from the sale of property.  As a general rule, the buyer is required to withhold 5% of the purchase price, zonal value or TD value of the property, whichever is higher, to be credited to the income tax of the developer.  The developer may cause such withholding to be made on behalf of the buyer and remitted to the BIR.

Value-added Tax

Value-added tax at the rate of 12% of purchase price, zonal value or TD value of the property, whichever is higher, is payable on each sale of real property to the BIR.

Documentary Stamp Tax

Documentary stamp tax at the rate of 1.5% of the purchase price, zonal value, or TD value of the property, whichever is higher, is payable on the execution of the DOS to the BIR.

Local Transfer Tax

Local transfer tax is imposed by the local government unit where the property is located generally at the rate of 50% of 1% of the purchase price, zonal value, or TD value of the property, whichever is higher.

Registration fees are payable to the Register of Deeds where the property is located at the rate of P8,796.00 for the first P1.7million plus P90.00 for every P20, 000.00 or fraction thereof in excess of P1.7 million.

The typical association due cost for lot is P25/sqm, for condominiums is P75-90/sqm.

The cost of the property is typically affected by the factors which buyers take into consideration when buying.

A typical lot:

Ayala Land Premier - minimum package price of P4 million
Community Innovations - minimum package price of P1.8 million (VAT exclusive)
Avida - minimum package price of P140,000 (VAT inclusive)

A typical house-and-lot:

Ayala Land Premier - minimum package price of P8 million
Community Innovations - minimum package price of P9 million (VAT exclusive)
Avida - minimum package price of P980,000 (VAT inclusive)

A typical condo:

Ayala Land Premier - minimum package price of P6 million
Community Innovations - minimum package price of P2.4 million (VAT exclusive)
Avida - minimum package price of P980,000 (VAT inclusive)

Payment schemes vary on a per-project basis. Typical payment schemes include cash, near-cash, (with a certain % due for downpayment and the balance payable within 90 days), in-house financing (with a certain % due for downpayment and the balance payable within 1 to 10 years, subject to in-house approval), and bank financing (with a certain % due for downpayment from the buyer and the balance financed by the bank, payable up to a maximum of 25 years, subject to bank approval).

Detailed Payment Schemes:

Ayala Land Premier

1. Cash

Cash 30 or Cash 60 - Full amount, less applicable discount, is paid 30 or 60 days after the reservation date.

2. Bank financing

20-80 scheme - 20% equity is paid 30 days after reservation date, with the balance 80% to be paid through bank financing in 60 days

3. Deferred

30-70 scheme - 30% downpayment is given 30 days after reservation date, and the balance paid within 120 days.

20-80 scheme - 20% downpayment is given 30 days after reservation date, and the balance equally spread over the construction period or a minimum of 2 years at 0% interest.

4. Installment

10-20-70 scheme - 10% downpayment is given 30 days after reservation date, 20% is equally spread over the construction period with applicable interest, and a lump-sum/balloon payment of 70% is paid on the last month.

10-10-80 scheme - 10% downpayment is given 30 days after reservation date, 10% is equally spread over a number of months (0% if within 10 months, but with an applicable interest if within 22 months), and a lump-sum/balloon payment of 80% is paid on the last month.

Alveo Land Corp.

1. Cash

Cash 30 or Cash 60 or Cash 90 - Full amount, less applicable discount, is paid 30 or 60 or 90 days after reservation date.

2. Bank financing

20-80 scheme - 20% equity is paid 30 days after reservation date, with the balance 80% to be paid through bank financing in 60 days

3. Deferred

A 30%, 20% or 10% downpayment can be made 30 days after reservation date, with the balance spread over 3-5 years

4. Installment

10-20-70 scheme - 10% downpayment is given 30 days after reservation date, 20% is equally spread over the remaining construction period with applicable interest rate, and a lump-sum/ balloon payment of 70% is paid on the last month, which may be coursed thru bank financing.

10-10-80 - 10% is paid 30 days after reservation date, 10% is equally spread over the remaining construction period of the development with applicable interest rate.  The lump-sum/ balloon payment (80%) is paid on the last month which may be coursed thru bank financing.

Avida Land

1. Spot cash

Full amount, less applicable discount, is paid within 30 days from reservation date.

2. Bank financing

20% dowpayment may be paid on the spot or spread over 12 months, with the balance paid over a period of time depending on the bank's terms with applicable bank rate.

3. Pag-Ibig Financing

Applicable for lot and house-and-lot only. Downpayment may be paid on the spot or in installment, with the balance spread over a maximum term of 240 months at 12% interest (rates subject to change, please reconfirm with your sales agent).

4.  A 20% downpayment may be made on the spot with an applicable discount rate, with the balance paid over 23 months at 0% interest, or up to 120 months with and applicable interest rate.

5.  A 20% downpayment may be stretched over 12 months for a lot and house-and-lot, and over 8 months for condominium units. The balance can be paid over 60 or 120 months with 18% interest rate (rates subject to change, please reconfirm with your sales agent).

For cash or near cash schemes (i.e. a portion of selling price is paid on the first 30 days and the remaining balance on the next 60 days), the following are the factors you should consider:

1.  How much money you have saved (which will help you pay the entire price within the 30-day/60-day period)

2.  Amount of discount offered by Ayala Land as compared to your foregone investment earnings.

For in-house financing, you need to consider:

1.  How much money you have saved (which will help you pay for downpayment and closing costs)

2.  How much net cash flow you have on a monthly or periodic basis (which will help you pay for monthly or periodic installment payments)

3.  Interest cost attached to the payment scheme (if any)

4.  Ease of transacting directly with Ayala Land as compared to a bank (i.e. less documentation requirements)

5.  The advantage of not paying up a large one-time amount

For bank financing, the factors to consider are similar to in-house financing, except for lower interest rates, stricter bank requirements, and the benefit of having the Title transferred to your name sooner if you use a different property as your collateral.  If you choose to use the property you purchased as your collateral, the Title will be transferred to your name, however, it will be kept by the bank until you complete your mortgage payments.

A Property Specialist will be able to give you an idea of the price of the property you're thinking of purchasing, how much downpayment is needed, and how much the monthly amortizations and/or the lumpsum payments are, if applicable.

The amount of financing a bank will extend varies with each bank and is affected by both the property's appraised value (as determined by the bank) and the capacity of the buyer to pay (as evaluated by the bank). Typical bank financing is normally up to 80% of the selling price (VAT included) but BPI Family Bank, a sister company of Ayala Land, has recently launched a program allowing buyers of Ayala Land Premier and Alveo Land Corp. properties to borrow up to 90%.

Downpayment varies for each type of project. Typical amount of downpayment ranges from 10% to 30% of the package price. Most downpayments are due upfront.  In some cases especially for Avida, it may be spread over a number of months.

Typical closing costs include taxes, registration fees, insurance, etc.  Please contact your Seller for the applicable closing costs particular to the property you are interested to purchase.

For in-house financing, financing is extended by the company who is selling the property.  Under this scheme, there is no transfer of ownership to the buyer until the property is fully paid.

If you are interested in securing in-house financing, gather information about your savings and monthly cash profile.

Typical factors affecting evaluation and approval of a request for in-house financing include the following:

1.  Proof of monthly or periodic net cash inflow.

2.  Size and quality of assets and investments currently owned

3.  Credit track record (as verified with other bank dealings and the presence of any court cases)

4.  Purchase of and good payment track record of other Ayala Land properties, etc.,

5.  Tenure with the employer or number of years in business, in case of a professional or an entrepreneur.

An application for in-house financing is typically evaluated within a period of two weeks to one month, assuming that the necessary supporting documents are complete.

For bank or external financing, financing is extended by a bank or financial institution such as Pag-Ibig or NHMFC (National Home Mortgage and Finance Corp.). Under this scheme, ownership of the property is transferred to the buyer. The buyer in turn mortgages the property to the bank. This is typically covered by a Deed of Mortgage. If you are interested in securing bank financing,

1.  Gather information about your savings and monthly cash profile.

2.  Secure a list of the documents required for bank financing.

3.  Contact the bank representative or mortgage officer for clarification on the factors which will affect their evaluation of your in-house financing application.

4.  Also gather information on applicable interest rate, term, and processing timetable.

5.  Await feedback from the bank mortgage officer for any additional documents they may request or for a formal advice of approval for in-house financing.

6.  Immediately advise your Seller once you have been informed by the bank of the approval of your financing application. Typically, loan proceeds will be released by the bank directly to Ayala Land as the Seller.  In exchange, Ayala Land will release the proof of ownership (e.g. Transfer Certificate of Title) directly to the bank, upon your endorsement.

BPI Family Bank, Banco de Oro, Chinabank, EquitablePCI Savings, Metrobank, and Philippine National Bank offer financing for Ayala Land properties. For Avida, BPI Family Bank, PS Bank, and EquitablePCI Bank are preferred.  A bank directory shall be provided to buyers upon request.

Typical factors affecting evaluation and approval of a request for bank financing include the following:

1.  Proof of monthly or periodic net cash inflow.

2.  Size and quality of assets and investments currently owned

3.  Credit track record (as verified with other bank dealings and the presence of any court cases)

4.  Purchase of and good payment track record of other Ayala Land properties, etc.,

5.  Tenure with the employer or number of years in business, in case of a professional or an entrepreneur.

An application for bank financing is typically evaluated within a period of two weeks to one month, assuming that the necessary supporting documents are complete.

Contact your Seller and ask for a computation sheet for the specific property you have chosen. When you have checked that the purchase is within your budget, Ask your Seller to see if the property is still available.

If it is available, tell the Seller to hold the property for you. Putting the property on hold means that it will be taken out of the property listing and withdrawn from the market.  This will allow you to prepare the requirements for reservation and purchase.

A computation sheet is a guide to computing the cost of a purchase. A typical computation sheet will indicate the property's list price, any discount if applicable, the resulting net selling price, plus Value-Added Tax, and other charges. A breakdown of the other charges is given, and your chosen payment scheme is indicated as your payment amounts would depend on this.

A property can be put on hold so it will not be sold to another buyer while you are still preparing your reservation payment.  Usually, a property can be put on hold only for 24 hours, during which the reservation fee must be received by the Seller.  A property is considered reserved after the reservation fee and preliminary documents have been received by the Seller.  Balance payment and other documents usually need to be submitted within 30 days after the reservation fee is paid, otherwise, the property you wish to purchase can be opened up to other buyers.

You can put a Request to Hold on your selected property by contacting your Seller by phone, fax, email, or SMS.

To un-hold your selected property, you likewise need to get in touch with your Seller by the same means as your Request to Hold.  But be sure to get in touch with your Seller right away.  Sellers are allowed to hold only up to 4:00 PM the next day for local buyers, and for overseas buyers, up to 4:00 PM of the 4th calendar day after the making the initial Request to Hold.

To reserve your selected property, follow these steps:

Contact your Seller and tell him to reserve it for you.

Pay the Reservation Fee/Deposit.

Reservation fee is P 50,000. From the menu of remittance options below, choose the one most convenient for you:

Cash

Direct deposit to the appropriate BPI account

We regret that payment by post-dated checks is not accepted at this time.

Bank-to-bank wire transfer (with proof of wire transfer)

Payment through remittance centers

Online credit card payment (click here)

The proof of remittance/deposit should be faxed to Ayala Land along with or to follow the Reservation Agreement Form. Be sure to coordinate with your Seller for the completion of documentary requirements needed for reservation.  The documents and Installment Application Form (for bank-financed purchases) must be submitted on or before Day 7 from the day you sent in your Reservation Agreement Form.

As confirmation that Ayala Land has received your Reservation Fee, you will receive an Official Receipt (OR) for Reservation and a Welcome Letter.

The reservation is good for 30 days from the date of reservation. Generally after cancellation, reservation deposits are non-refundable, except for special cases with mitigating circumstances.

Yes, you can cancel your reservation within 30 days from the date of reservation. You will not get a refund on your reservation fee.

A sale is booked after the reservation period, and upon the fulfillment of the requirements, such as payment in full or for installment purchases, the downpayment, credit approval for deferred/installment payments, and completion of documentary requirements.  After booking, a unit change or transfer may still be done upon submission to Ayala Land-Sales Administration of a written change request.  A service fee may be charged for the change (Please check with your Seller).

Yes, within the reservation period, you may change the unit as long as the change is to another unit within the same project, or within the Ayala Land Residential Business Group.  Take note that the reservation period for the new unit continues from that of the reservation period of the previous unit. You do not start from Day 1 with a new reservation period.

Yes, you may change the owner name, free of charge, within the reservation period.  The reservation period under the new owner name will continue from starting date of the reservation period under the previous owner name.  It will not start a new reservation period.  The same goes for change of TIN.

A change in name is allowed subject to the new buyer submitting additional documents, in addition to those required for reservation:

1.  Letter of request for change from the original buyer

2.  Original invoice from previous reservation made

3.  New Reservation Agreement under the new name

Where the parties to the change in name are unrelated or have no established relationship, the reservation fee under the original reservation will be forfeited, and a new reservation deposit will have to be paid by the new buyer.

After the sale has been booked, a change in name/TIN may still be made, also subject to submission of the original invoice issued, a written request for change and a new Reservation Agreement.  A service fee will be charged for the change.

Yes, you may transfer the reservation to your child of legal age, and to your spouse, provided that they comply with the citizenship requirements for the ownership of property in the Philippines.  Your child or spouse must submit the Reservation Agreement form and Installment Payment Application (if applicable) under their names, their TIN, and Community Tax Certificate or passport, if based overseas. Still, the paying parent of a child of legal age must sign a Joint and Solidary Undertaking to bind himself to the payment obligations pertaining to the purchased property.

If your child is a minor, you will first have to obtain court approval then post a bond, pursuant to Article 225 of the Philippines' Family Code.

Yes, the reservation may be transferred to an individual name or to a corporation, and vice-versa, as individuals and corporations have legal capacity to enter into a contract of sale.  However, single proprietorships do not.

A corporation will have to submit documentary requirements attendant to purchase by corporate buyers, such as the SEC Certificate of Registration, Board Resolution authorizing the purchase, and photocopy of the Taxpayer's Record Update for condominium purchases, the Corporate Secretary's Certificate regarding nationality of stockholders is needed.  For lots, a requirement is the Corporate Secretary's Certificate certifying that at least 60% of the outstanding capital stock is owned by Filipinos.

Assuming you have fulfilled all the requirements for reservation, having paid the Reservation Fee, sent the Reservation Agreement, and submitted all the documentary requirements for reservation (please see checklist of Documents for Reservation), your next step is to pay for the property.

You may pay in full, or partially with a downpayment, the balance in monthly amortizations, or according to whatever payment scheme you have chosen. The full total contract price or the downpayment must be paid within 30 days after the date of reservation, or the reservation will be cancelled and the Reservation Fee will not be refunded.

Be sure to review the different payment and financing plans/schemes available to you for the type of the property you chose, and discuss these with your Seller. Submit the documents required for booking your purchase.

Please see the list of requirements, based on whether you are buying a lot, a house-and-lot or a condominium.

You will have to sign the Contract to Sell (CTS) which will be sent to you after you have paid for the purchase.  You will then return the signed CTS to Ayala Land

If you will register the sale under the name of another person or corporation, then you must sign, have notarized, and submit to Ayala Land 3 original copies of the Special Power of Attorney (SPA). The SPA and CTS will have to be authenticated at the Philippine Consulate nearest you, as that is a requirement for the Philippine courts to recognize the validity of signed documents originating from overseas.

If you have any questions, don't hesitate to call up our 24/7 Customer Service Hotline:

For Visitors Outside the Philippines

You may call our Toll Free Hotline at 1-877-atAYALA (282 9252) US Customers only.

If you are located Outside the US, you may call us at YOUR INTERNATIONAL GATEWAY NUMBER - 8000-atAYALA (282 9252)

Click here to view the chart of the appropriate international gateway number of your country.

For Philippine based customers you may call us at:

For Ayala Land Premier: (+632)848 5000 for Metro Manila, and 1-800-10-848 5000 for Outside Metro Manila

For Community Innovations:  (+632)848 5100 for Metro Manila and 1-800-10-848 5100 for Outside Metro Manila