FREQUENTLY ASKED QUESTIONS

• Who is the developer of Ocean View Villas?
  Imperial Homes Corp., a well-established family corporation headed by Ms. Emma M. Imperial, is developing Ocean View Villas. IHC has been in the business for 20 years building affordable houses like its contract with Ayala Group of Companies to provide affordable homes for its many employees. Currently the company has branched out into leisure development and Ocean View Villas is one of the high priorities family-oriented leisure projects while the company continues to get more raves from buyers of its first leisure project in San Pablo City, The Lakeside farm and Fishing Resort Village. Ocean Villa is located in Buragwis, Legazpi City, Albay, and a mere 5minutes from the commercial center of the City. The buyers will automatically become member of the resort amenities which will have its own boardwalk along the scenic Puro Beach of Albay Gulf amidst the natural scenic views of the sea, Mayon Volcano, luscious mountains which the architect planners will incorporate in the area. This is conceived to cater to successful Bicolanos in Manila and Filipino Overseas Workers as a retirement Mecca or a home to come back to. Buyers will be offered by IHC sister company the Management of the Villas for rent to tourist of the city. This will be the first project that will be tied up with the Asia Leisure Escapes Inc of IHC. Check out website www.asialeisureescapes.com for more info.
  
  
• Who are the team behind the Ocean View Villas?
  The powerhouse behind the Neo-Asian Concept is headed by Architect Marcos De Guzman Jr., the Master planner, and Ernest Santiago, a well known international Filipino Designer who is known for his ingenuity for Filipino-Malay-Asian inspired interiors and design concepts. Architect Dante Sayzon will do the landscape and the amenities of the project.
  
  
• What are the available vacation models for Ocean View Villas?
  The models of the Villas will be studio, two bedrooms and three bedroom condo Villas. The floor areas are between the ranges of 55-100 square meter floor areas.
  
  
• Is Ocean View Villas a vacation or residential place?
  Ocean View Villas is classified as residential project. Therefore it can be used as residential or a second home. The concept is designed for overseas Filipinos who would like to have a piece of investment in the City. The unit can generate rental income from the management of the resort company of IHC, Asia Leisure Escapes Inc. The panoramic view of the Majestic Mayon and the deep blue sea of Albay gulf will captivate the hearts of many Bicolanos who miss home. The condo villas will come with FREE IMA Bath (Indoor or Outdoor Jacuzzi).
  
  
• What is the available financing for the Condominium Villas?
  For the In-House Financing:
  
  
  • 30% down payment payable in 6 months with 0 interest. Balance of 5 years at 10% interest or for 10 years at 12% interest.
    
    
  • 30% down payment payable in 12 months with 10 % interest. Balance of 5 years at 10% interest or balance of 10years at 12% interest.
    
    
  • No Down payment with terms of 5 years at 10% interest or balance of 10 years at 12% interest.
    
    
  The house will be turned over to buyer upon 30% payment of the contract price while the free IMA Bath (Indoor or Outdoor Jacuzzi) will be turned over after the 30 % have been paid and 6 months amortization.
  
  The above financing terms are Dollar/Sterling/Euro/Singapore$ In-House contract. A Peso contract in house financing is available for qualified buyers at an interest rate of 19% for 5 years and 21% interest for 10 years. The Peso contract can also be coursed through local bank financing to get lower interest rate. It is required that after 90 days from date of reservation, a letter of Approval from any local bank be issued in favor of IHC. Upon submission of the letter of approval from bank and completion of 30% down payment and the balance of 70% paid by the bank, the unit and the free IMA Bath (Indoor or Outdoor Jacuzzi) will be turned over to buyer.
  
  
• What is the No Down payment scheme package as advertised abroad?
  This is a special new package for international buyers payable either 5 or 10 years based on Dollar/Sterling/Euro/SingaporeDollar /Hongkong Dollar Denominated sales Contract. The FREE IMA BATH (Outdoor/Indoor Jacuzzi) will be turned over after the equivalent of the 30% down payment is paid for the house and lot including the equivalent of 6 months of amortization. There is no foreign exchange conversion benefit when one chooses the NO DOWNPAYMENT scheme.
  
  
• What is the difference a Dollar/Sterling/Euro/Sing$ Denominated and Peso Denominated Contract?
  A Foreign Currency denominated contract is paid in US$ or Sterling or Euro/Sing$ and carry a lower interest rate than a Peso contract. The company (IHC) carries the financing of the contract and will require an authority to have an automatic payment arrangement with a foreign bank for the buyer's monthly payments. A Dollar /Sterling/Euro/Sing $ denominated contract is paid in dollar, Pound Sterling, or Euro and Sing Dollar and carry a 10% interest for 5 years and 12% interest for 10 years.
  
  A Peso denominated contract is paid in Pesos and carries a 19% interest for 5 years and 21% interest for 10 years.
  
  Once contract is signed, buyer cannot change from another foreign currency to a peso contract or vice versa. This protects IHC from any fluctuations of the currencies and other inflationary factors.
  
  
• How can one take advantage of the higher exchange rate for foreign currency in purchasing our homes?
  There are 3 ways when a buyer can take advantage of higher foreign exchange rate:
  
  
  • Buyer Pays Cash. If a buyer buys cash, the foreign exchange current rate is used and the buyer immediately gets the cash discount of 7% if paid within 15 days and a foreign exchange conversion savings or discount * based on the balance in Dollar/Sterling/Euro/Sing$ or any other foreign currency contract price. The international buyers are advised to borrow from their local banks to get the discounts.
    
    
  • Buyers Pays Cash on Balance after paying the 30% Down Payment:
    The buyer pays cash the balance of the Contract Price. The balance will have a foreign exchange conversion savings or discount * based on the dollar, Sterling, Euro, Sing $ if paid in full. The chance to avail of the discount disappears when the balance falls below 70%. There is no discount when the NO DOWNPAYMENT option is chosen.
    
    
  • Buyers applies with Pag-IBIG Fund or any other local funding institution: The buyers can apply through Pag-IBIG Fund or any local institution to take out the balance of the 70% which will also have a foreign exchange conversion savings or discount * on the balance in Dollar/Sterling/Euro/Sing$ or any other foreign currency if paid in full.
    
  
  * The foreign exchange conversion savings or discount will be computed based on the current foreign exchange rate computation at the time when the balance of not less than 70% of the total contract price is paid in cash or taken out by Pag-IBIG Fund.
  
  
• Is there a schedule for prospective buyers to see Ocean View Villas?
  There are ocular visits we call tripping schedules. These are made 7 days in advance to provide enough time for the arrangements of vehicle and guide. For overseas clients, you may arrange the actual site inspection with our representative in your country and they will contact your relative for the tripping schedule.
  
  
• Is Ocean View Villas accessible to the main road? Hospital? Malls? How about
  Telephone lines? How far is it from the market, supermarket, and church?
  
  All public modes of transportation are available along the Buragwis Road. The site may be reached within 5 minutes from the City center.
  
  Among the commercial areas which are within 5 minutes is the Pacific Mall, LCC Commercial Center and the Public Market and all the branches of major banks in the Philippines are just in the center of the City. Legazpi City being one of Bicol's major tourist destinations has a lot of tourist spots to offer that are just within one or two hours away. One of the famous spots is Donsol for its whale sharks diving, Cagsawa Ruins, Mayon Volcano, Tiwi Hot springs and the black and white sand beaches along Albay and Sorsogon. A nine-hole golf course is also available 15 away from the project. Institutional areas include the Bicol University, Aquinas University, St Agnes School and other major technical schools.
  
  
• Are there any other restrictions in Ocean View Villas?
  A Deed of Restrictions bound buyers in the interest of sanitation, security, aesthetics and the general welfare of the community
  
  
• What are the type of development do you have in Ocean View Villas when it comes to roads, water, electricity, other amenities and security?
  The clubhouse and recreational facilities which will include basketball and tennis courts will be part of the project's amenities. There will be a lot of Art Décor Focal points designed by Ernest Santiago in each of the open space and a lusciously lined up forest trees will surround the perimeter of the recreational area.
  
  Cemented main road will be 12 meters in width and the inner roads are between 8-10 meters width. Interconnected water and electrical supply will be available to the houses inside the village.
  
  
• Does the property have a title? If so when do we get the title?
  The properties have titles and may have a mixed development where some villas will have Transfer Certificate of Titles and other Condominium Certificate of Title. This will be transferred to the buyer's name once the lot is fully paid. Transfer to the buyers name will be within 4-6 months giving including the time allowance we provide due to the backlog in the processing of the titles.
  
  
• Is VAT (value added tax) included in the pricing?
  Yes, it is already included.
  
  
• Is there any discount if down payment is paid in cash?
  Yes, buyer can get as much as 7% discount from the actual down payment if it is paid within 30 days from reservation.
  
  
• Is there a discount if the Total Contract Price is paid in cash?
  For Cash Payment on Total Contract Price:
  Payment within 15 days----- 7% discount
  Payment within 30 days----- 5% discount