How to Reserve a
Crown Asia Property

All buyers

• Two (2) valid government-issued IDs — photocopy both sides
• TIN number (or BIR Form 1902 if applying for a TIN)
• Proof of billing for current address (utility bill, credit card statement)
• Accomplished buyer information form — provided by the developer
• Signed Reservation Agreement — provided by the developer
• Reservation fee — check, manager's check, or bank transfer

If married (add these)

• PSA-issued marriage certificate
• Spouse's two valid government-issued IDs
• Spouse's TIN number
• Spouse's signature on the Reservation Agreement

If OFW (add these)

• Special Power of Attorney (SPA) — notarized and apostilled or consulate-authenticated
• Attorney-in-fact's two valid IDs
• OEC (Overseas Employment Certificate) or employment contract
• Proof of remittance income or employment

For a full OFW purchase guide including SPA requirements, see the OFW Property Guide.

What if I want to cancel after reserving?

The reservation fee is non-refundable. If you cancel before the Contract to Sell is issued, you lose the reservation fee. If you cancel after CTS signing, the cancellation is governed by the terms in your CTS — which typically involves forfeiture of equity payments already made beyond a minimum retention amount. Read your CTS cancellation clause carefully before signing.

Can I transfer my reservation to another person?

Assignment or substitution of buyer is possible but requires developer approval and involves documentation and processing fees. It is not guaranteed — Crown Asia evaluates each request. If you anticipate needing to transfer, discuss this with your broker before reserving. Do not assume it is automatic.

What if I miss a monthly equity payment?

Most Crown Asia preselling contracts include a grace period of 30 days before late charges apply. After that, interest penalties are charged on the overdue amount. Extended non-payment — typically 3 consecutive months — can trigger a demand letter and ultimately a contract rescission. If you are facing cash flow issues, contact your broker immediately — some developers accommodate restructuring before escalation.

When does my bank loan application open?

For preselling projects, bank loan applications typically open 3–6 months before the target turnover date. The bank appraises the near-complete unit and processes the loan against the remaining balance. Start preparing your bank documents — payslips, employment records, bank statements — well in advance. For RFO properties, the loan application starts immediately.

What is the Contract to Sell and why does it matter?

The Contract to Sell (CTS) is your legal protection as a buyer. It records the full terms of your purchase, including the developer's obligation to deliver the unit and your obligation to complete payment. Under the Maceda Law (Republic Act 6552), buyers of real estate on installment have specific rights — including the right to a refund of a portion of equity paid if you cancel after two years of payments. Your CTS must be in your possession. If you do not receive it within 60 days of reservation, follow up with your broker.