Be Updated Until Turnover of Unit
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Always aim to be approved as early as possible and be proactive in following up of your loan; with lots of clients application in one office (in a developer or bank), there are tendencies your documents or application may be misplaced.
For bank financing, it's loan approval before house construction while for Pag-IBIG, it's construction before loan approval. Make sure the property under construction is visited once in a while just to make sure everything is set according to house specification. Usually, our developers subcontracted the construction of properties and some time they are understaffed to oversee the house construction regularly.
During house turnover make sure everything is according to what it's specified to be delivered. Clarify all things especially regarding warranties and it's covered limitation. Be sure to check the water and electrical system, the roofing also because it may be turned over with you at summer season and you'll found some hole or leak during rainy season.
Be aware also of some limitations and prohibition on the projects, like what pet is allowed, scope and limitation for extension of houses, if a sari-sari store is allowed or if generator and water pump is allowed, the monthly dues and others.
For condominium unit, usually fish pets of certain types are allowed, repainting of doors and balcony is not allowed, even door knob of different colors and windows curtain color is limited.
As soon the house is turned over, it's always better to start securing your property and construct your fence before anything else. The management will not be liable for the loss as soon it's turned over to you and the fact that there are many houses in the community, the roving guards can't always check on yours.
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