Financing Option: Spot Cash

This payment method is the easiest and fastest way to purchase a real estate property. As the name implies, it’s paying on the spot.  However, this payment scheme may vary from one developer to another. Paying on the spot or spot cash simply means that the buyer needs to pay the total price (house and lot package, condominium unit price, lot purchase price, etc.) in a given period of time – usually 1 month after the property was reserved.

Also note that a house or property for sale by a private individual seller (as opposed to a developer), is commonly paid in spot cash. On the other hand, there can be longer terms of payment if a real estate property is purchased from a developer (e.g. Kisan Lu, Uraya Land, Santos Land, etc.)

Priscilla Estate House and Lot

For example: A house and lot package at Priscilla Estate – a middle class subdivision in Cabantian, Buhangin, Davao City.

Lot area: 150sq.m
Floor area: 68sq.m
Processing fee/Initial Docs: 7,000
House and Lot Price: 3,190,000

Spot Cash payment: 3,015,498 (discounted)

Note: This is a sample computation only. The prices and computations are subject to change without prior notice. Contact us for updates.

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Advantages:
-          The buyer gets a great/special discounts.
-          Hassle free. There aren’t many requirements.
-          No need to worry about long term payments.
-          Buyers usually get documents in a shorter period of time.

Main disadvantage:
-          Most people can't afford spot cash payments.

Related Articles:
2 Read for Occupancy house and lot at Priscilla Estate! Available!
Paying in Deferred Cash
Financing Options: In-house financing
Financing Options: Pag-ibig financing
Financing Options: Bank financing

Ready to purchase a real estate property in Davao City? Check out this real estate website:
Davao City Real Estate Properties