Q. What are the sources of water and eletricity?
A. Panay Electric Company (PECO) for electricity and Metro Iloilo Water District (MIWD) for the water source.

Q. Who provides the Garbage Area? Where should it be located?
A. Garbage Area to be provided by the unit owner, location subject to unit owner’s discretion. Association may arrange garbage collection.

Q. Can I check the unit before I own it?
A. Prior to turnover, clients are given a walkthrough in the unit for them to check for cracks and minor fixings. If they don’t like anything in the unit, they can request for minor changes.

Q. Who will take care of the expenses if partitions were requested?
A. During construction, the client can request for partitions. After turnover or on punch listing, the client will shoulder the expenses.

Q. Can the layout be modified?
A. Yes. Minor modifications only.

Q. Is there a warranty for the building?
A. Yes. One (1) year building warranty.

Q. Will the building be powered by generators during power failures?
A. Yes but not the whole building, limited only to some public areas.

Q. Can dues be paid in US Dollars?
A. Yes, but PHP is preferred.

Q. Will there be a grace period in case of late payments?
A. Yes. 7 days and late payments beyond the grace period will be penalized.

Q. What if client died in the middle of the payment period?
A. Transfer shall be settled through juridical measures.

Q. What if nobody from the members of the family would want to claim and continue the payment?
A. All previous payments are bound for forfeiture.

Q. What is the expected value appreciation of units?
A. Value is expected to rise twice or thrice a year. Safe Zone: 5% increase, once or twice a year.

Q. What will happen to condo units after 50 years? Will it be destroyed?
A. If the building’s condition is still okay after 50 years, then there is no reason to condemn the building.

Q. What units can be combined?
A. Units beside each other on the same floor level; you cannot combine rooms in different floor levels.

Q. If client combines two units and decides to remove the kitchen, what will happen to the materials?
A. Clients can request endorsement of materials when requesting for combination.

Q. What type of materials will be installed?
A. Subject to standards of time. E.g. If the standards of 2005 is cathode ray TV but the building is finished 2009 where the standard TV is flat screen, then flat screen is provided instead of cathode ray.

Q. Can clients request for a specific materials to be used?
A. No.

Q. Can condo units be used as an office?
A. Yes but only on the 3rd floor.

Q. Will there be additional payments after the net price has been paid such as for the processing of documents?
A. Yes but only upon turnover. (Documentary Stamp, Realty Taxes)

Q. What will happen if the condo is destroyed by a natural disaster?
A. It is the client’s discretion if he or she wishes to insure the unit.

Q. How much is the monthly association due? Coverage?
A. Depends on the association.

Q. Can schools be opened at Iloilo Business Park?
A. No advice yet, but it is possible.

Q. Can a client buy a lot in IBP have it leased after full payment?
A. Possible

Q. Can unit be named under an organization or institution?
A. Yes. Same processes, same payment terms etc. It can be named under a corporation as well.

Q. Will there be additional payments after the net price has been paid such as for the processing of documents?
A. Yes. Clients will be given statement of accounts after the turnover.

Q. What if the owner finds things such as paint color, cracks on walls, etc. and doesn’t like it?
A. Clients are entitled for PUNCH LISTING prior to unit acceptance for possible minor changes.

More Questions? Ask it here…

Your Name (required)

Your Email (required)

Contact Number (optional)

Your Message