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.
Riverwalk Subdivision is one of the upscale areas in Bacolod because it is located in the prime east location with wide roads, security features, and
Location Riverwalk Subd., Bacolod City, Negros Occidental FULL DESCRIPTION A 2-Story House on a 240 sqm Lot Area Located at Riverwalk Subd. It has 4
Location East Homes 5, Mansilingan, Bacolod City FULL DESCRIPTION RFO HOUSE FOR 1.8M ONLY EastHomes 5 Mansilingan 60 sqm lot area 60 sqm floor area
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 Barangay Villamonte, Bacolod City FULL DESCRIPTION Villamonte Area Prime location due to Megaworld Upper East nearby and other key spots 320 sqm Lot area
Location Ayala North, Talisay city, Negros Occidental FULL DESCRIPTION The house is located 3rd lot from the corner with Four(4) adjacent vacant lots. It has
Location Villa Angela Subd., Bacolod City, Negros Occidental FULL DESCRIPTION Floor Area 75 sqm Lot Area 300 sqm 3 Bedroom 2 CR & Bath 5.9M
CASH BUYER ONLY!! Location: East Homes 2 (fortune towne) Brgy. Estefania, Bacolod City 100 sqm lot area 100 sqm floor area • 3 Bedroom •
BRAND NEW TWO-STOREY HOUSE FOR SALE! Location: Riverwalk Subdivision, Bacolod City Riverwalk Subdivision is a gated subdivision with a guarded entry 24/7. It has wide,
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
All pricing and details stated herein are considered tentative and subject for finality upon contact, until finalization during the contract, meet-up or reservation.
All Listings are provided in good faith. If so happens that you are the legitimate owner of such property and would like to request to take down, simply contact us.
