FAQS

ON THE SUBDIVISION PROJECT

• 1. Where is the Palmas Verdes project located?
  • The Palmas Verdes project is situated in Pangasinan, a province in Northern Luzon. Specifically, Palmas Verdes is located in Km. 386, Bonuan Binloc, Dagupan City. It is just a 15- minute drive to the city proper and a short distance walk to the Bonuan Beach.
• 2. What kind of properties is Palmas Verdes offering?
  • Palmas Verdes is offering house and lot developments and lot only developments with future house components. This subdivision project has 84 lots with individual titles.
• 3. Is the property approved for subdivision and are the lots individually titled and ready to be transferred to buyers once the house is finished?
  • Yes, Palmas Verdes has all the government permits to develop the subdivision and the HLURB License to Sell the subdivided lots. The title will be transferred to the buyer after full payment of the property and submission of all necessary documents.
• 4. On what stage of development is the project now?
  • The streets with complete drainage system are now laid out. The electrical system and electric posts are now in place. The entrance gate, sales office and some buyers’ houses have been constructed and construction of more houses is in full swing. The clubhouse, swimming pools and basketball/tennis court are now complete.
• 5. Are your houses ready for occupancy? When can we move in?
  • The houses are not ready for occupancy (NRFO). Construction of the house starts upon the your completion of the 30% down payment of the TCP, approval from bank if you will avail bank financing, and has signed all the necessary documents.
• Is the property secure enough?
  • Yes, the subdivision is very secure. It is protected by a continuous perimeter fence and a 24-hour guard-duty at the gates.
• Who operates the power and water system? Will they supply the needs of the subdivision at 100% occupancy?
  • Palmas Verdes will have its own Property Management Team who will handle the subdivision after it has been turned over to the Home Owners Association (HOA). The water and power systems are fully provisioned to function at 100% occupancy
• 8. How will the homeowner association be managed? Is it by the developer or the homeowners?
  • Homeowner associations are usually organized by the developer initially but eventually, the management is transferred to the homeowners’ association who elect their own board. After all they are the ones who own the subdivision. But the developer will not transfer this responsibility to the association until such time that there are enough buyers to sustain and maintain the subdivision properly. The developer ensures a strong commitment to the satisfactory maintenance of Palmas Verdes; otherwise it will adversely reflect on them.
• 9. Why should I prefer Palmas Verdes to other subdivision projects?
  • The developer, Arcinue Development Corporation, presents a solid track record in property development at the Sual Power Plant owned by an American Company with high-quality international building standards. The houses at Palmas Verdes are beautifully and functionally designed by B.B Soriano + Associates, an architectural and engineering firm that is known for its excellent work here and overseas. By using the monolithic technology in the construction of the houses, the walls will be made up of solid 3000 psi concrete (“buhos”) with steel bar reinforcement as compared to the traditional construction method using hollow blocks. Also, the project site is located in a flood-free area and in a good neighborhood. (Pls. see brochure for more features and amenities.)

ON THE HOUSE UNIT

• 10. How many house models does Palmas Verdes offer?
  • The Palmas Verdes project has 8 house models with varied floor designs that will surely cater to the discriminating taste of the buyers. There are several designs that will suit the needs of a buyer based abroad and have senior loved ones here to take care of. Floor area ranges from 127 square meters to 238 square meters.
• 11. How long can you finish constructing a house if I buy one now?
  • House construction timetable is more or less 6 months, depending on the size of the house and on weather conditions.
• 12. Do your plans allow for future expansion of the house?
  • There are certain models that will allow this and especially so if your lot will allow it, your house can accommodate more car space, an extra room or a bigger kitchen; but this will be subject to the approval by the Construction Committee of Arcinue Development Corp. which will provide you a list of allowable options for upgrading.
• 13. What are the finishing materials used in the house?
  • The house is turned over to you “finished”, meaning it is complete with floor tiles, paint, bathroom fixtures, lighting fixtures, built-in kitchen cabinets, etc. Please ask for a copy of the complete list of this. Furniture and appliances are NOT included.
• 14. What appliances are included in the kitchen area? (All new homes in the USA include stove, microwave, trash disposer underneath sink)
  • All of the above are not part of the saleable units but the developer makes it a point that appliances would be on an optional basis depending upon the brand and the features of the appliances. The developer can purchase and install all options that the buyer will choose from the list of upgrades with corresponding additional cost to the buyer. This is the usual practice here since different buyers have different preferences.

ON PRICES, FINANCING SCHEME AND MODES OF PAYMENT

• 15. How much do your houses cost?
  • Palmas Verdes house and lot units range from P4 million to P8 million with floor areas ranging from 127 square meters to 238 square meters, respectively.
• 16. How do I make a reservation?/a>
  • Once you have chosen your lot and model house, you can make a reservation by paying the Reservation Fee of P50,000 and submitting the accomplished Reservation Application form along with a photocopy of your two valid IDs. Reservation is on a first-come-first-serve basis.
• 17. Up to how long will you honor my reservation? What happens when my reservation is cancelled?
  • The reservation is good for 30 days from the date of reservation. Generally after cancellation, reservation deposits are non-refundable.
• 18. What’s next after I make the reservation?
  • You pay the 30% down payment -- in spot cash or deferred cash.
• 19. I’ve completed the 30% down payment. What’s next?
  • We execute the Deed of Sale and transfer the Title of the lot to your name. You will also pay for the transfer tax, documentary stamps and fees (Register of Deeds). We will pay for the expanded withholding tax or capital gains tax and fees (notary, certification, etc.)
• 20. How do I pay for the balance?
  • The financing schemes available are deferred cash, in-house financing and bank financing.
• 21. When do you start constructing the house?
  • Upon completion of 30% down payment and approval of loan application, if you will avail bank financing.
• 22. Where can payments be made?
  • All payments are accepted only at the Palmas Verdes Sales Office, Km 386, Brgy. Bonuan Binloc, Dagupan City. Payments can be made either in cash or in check. If you are abroad, you can send payment via bank-to-bank wire transfer directly to our account or thru a representative.
• 23. Can I purchase a property even if I’m abroad?
  • Absolutely. You have the option to issue a Special Power of Attorney to any individual whom you’ve authorized to transact with us in your behalf. Arcinue Development Corporation can make arrangements to send through a courier any of the sales documents that you need to evaluate and sign. However, you will be responsible to send us back the signed documents for processing.
• 24. What documents are needed to purchase a house and lot or lot only?
  • There are several documents required in purchasing a Palmas Verdes property:
  • For Individual Buyers:
    1. Reservation Agreement
    2. Quotation Sheet
    3. Client’s Information Sheet 4. Photocopy of two valid IDs
    
    For Title Transfer:
    1. Photocopy of Birth Certificate
    2. Photocopy of Marriage Contract
    3. If dual citizen, Certificate of Oath of Allegiance from Philippine Embassy
    4. Photocopy of two valid IDs
    5. Tax Identification No. (BIR Philippines)
    6. Cedula or Community Tax Certificate
    
    For Financing (in addition to the requirements listed above):
    7. Certificate of Employment & Compensation or other proof of employment 8. Statement of Income
    9. If retired, United States Uniform Services ID
    10. Court clearance from Regional Trial Court (RTC) Dagupan City
    11. Barangay Clearance
    12. 2 pcs. 1X1 inch ID picture
    13. Special Power of Attorney – if buyer cannot be personally present For Corporate Buyers:
    1. Reservation Agreement
    2. Quotation Sheet
    3. Client’s Information Sheet
    4. SEC Registration
    5. Articles of Incorporation and By-laws
    6. Board Resolution
    7. Secretary’s Certificate
    8. Photocopy of Income Tax Return for the last 3 years
    9. Photocopy of Residence Certificate of Signatory
    10. 2 pcs. 1” x 1” ID picture of signatory
• What are the documents that Palmas Verdes will provide me?
  • 1. Upon reservation, you will be given a copy of the Reservation Agreement and signed quotation sheet.
    2. Upon making full down payment, a Deed of Sale and Deed of Restrictions will be signed, with the notarized copy given to you after one week.
    3. The Property Titles and Tax Declaration are processed and delivered to you within 90 days from the time the Deed of Absolute Sale was notarized.
    
    Disclaimer: The Developer reserves the right to make further adjustments and/or changes on the above to make conditions more appropriate for both parties. (February 1, 2010)