Ready for Occupancy (RFO) are homes or properties that are already built by the owner and require a “spot cash” downpayment. The prevailing market rate is 15% before you can move-in. Other terms for RFO are Ready-to-Movein, Ready for Occupation, and in some cases, For Assume or Reopened.
Spot cash / lumpsome downpayment means that you need to pay a certain percentage of the house before you can move in which usually ranges from 10% to 30%, depending on the arrangement. You can move-in once you have paid the agreed percentage, e.g. 15% usually. The remaining downpayment you can pay through instalment or PDC. The rest, you apply through bank financing and you pay the bank (or PAGIBIG if below P2M), or in some cases, direct to owner. All of these will be stipulated under the Contract to Sell.
Bank interests range from 7 to 8% and the appraisal value varies from 60 to 75%. Banks’ paying terms are up to 15 years. PAGIBIG’s usual interest rates range from 6 to 8%. As of July 2020, it’s 6.375% and maximum payment term is 30 years.
Why lumpsome? Looking at the interest and welfare of the owner, they have already cashed out capital to construct the house. And to give fair justice, they must be compensated by at least a fair amount of return for allowing you to reside right away. A lot of people always ask for “Rent to Own” houses where they don’t want to pay spot down or “lumpsome” initially, and just want to pay “rental-like” amount per month until they own the house. If this is what they mean, then it’s certainly difficult to find and non-equitable on the part of the owner.
Location Villa Angela, Bacolod City FULL DESCRIPTION Ready for Occupancy 2 Storey 4 BR 3 CR Lot Area 191sqm Floor Area 130sqm Price: 6M KEY
Location Villa Angela, Bacolod City FULL DESCRIPTION Ready for Occupancy 2 Storey 4 BR 3 CR Lot Area 180sqm Floor Area 130sqm Price: 5.9m KEY
Location San Lorenzo Homes, Brgy. Tangub, Bacolod City FULL DESCRIPTION Price: 3.9M Lot Area: 100 sq.m. Floor Area: 130 sq.m. Location: San Lorenzo Homes Brgy
Location Royal Meadows Subdivision, Bacolod City FULL DESCRIPTION Price: P3,648,000 Accessibility: A few minutes away from Lopue’s east mall, hi-strip, New Government Center, Savemore East
Location Buena Park, Burgos Ave. DETAILS TCP: P2,195,000 Buena Royale house and lots in Bacolod East are now available. “Buena Royale Move-Insigida” Status: (RFO) READY FOR
Location Manville Subd., Brgy. Pahanocoy, Bacolod City P9,000,000 FULL DESCRIPTION Lot Area 402 sqm Floor Area 225 sqm 5 Bedrooms 5 Bathrooms 1 Powder room
6th Street Lacson, Bacolod City Back of Mc Donald’s 6th street, across Capitol Lagoon Park FULL DESCRIPTION Ready for Occupancy Studio Units in My Van
Location East Homes 2, Fortune Towne FULL DESCRIPTION House is situated near Subd’s Main Gate and Guard House Great access to Savemore Fortune towne Near
Location Fortune Towne, Brgy Estefania, Bacolod City FULL DESCRIPTION READY FOR OCCUPANCY Selling Price 1.5M Near Savemore Fortune Towne Near Metro Bacolod Hospital and Medical
Location Talisay City, Negros Occidental FULL DESCRIPTION PACIFIC SHORES SUBD Lot Area: 650 sqm Floor Area: 800 sqm (more or less) Price: 17M Status: Clean
Location Brgy. Mandalagan, Bacolod City,Near City Mall Mandalagan & Robinsons Mall) “Camella Bacolod goes beyond the basics to offer the best of modern conveniences and
Villa Alexandra 2 FORTUNE TOWNE AREA Ready to Occupy Price 3.6M (as of Sept 2020) Reservation Fee 50k Equity 600k (3mos to pay) Estimated Bank