The Reservation Fee Explained: What You're Actually Paying For

The reservation fee is the first money you pay when buying any Philippine condo. It's small relative to the total contract price but it locks several things at once — and it's worth understanding before you sign.

What it locks

- **The unit number.** Once paid, that specific unit (floor, line, view) is yours to negotiate. Other buyers can't reserve it. - **The price.** The unit's price as listed when you reserve is locked, even if Alveo raises prices the following month. - **The promo terms.** If you reserved during a promo (extended DP terms, discount on amenity fees, free upgrades), those terms attach to your unit.

What it covers

- The reservation fee is **credited toward your down payment**, not on top of it. So if your DP is ₱1,200,000 and your reservation was ₱30,000, you owe ₱1,170,000 over your DP installment schedule. - It is NOT a separate "fee" you lose — assuming you complete the purchase, every peso of it counts toward the total.

Refundability — read carefully

- Most developers (Alveo included) treat the reservation fee as **non-refundable** if the buyer cancels. - It IS refundable if the developer cancels (rare but happens with rezoning, master-plan changes, project shelving). - Some buyer-side scenarios are gray — if your loan application gets denied at turnover, the developer may refund the reservation fee minus admin charges. This is negotiated case-by-case.

Before you pay reservation

1. Confirm the unit number, floor, and price in writing. 2. Confirm the DP installment schedule. 3. Confirm the promo (DP terms, discounts) you're locking. 4. Confirm the expected turnover date. 5. Know your loanable amount with Pag-IBIG and/or your bank — if you can't qualify for the bank-loan phase, the project will fall through.

Message me through the contact form before you reserve. A 15-minute conversation often saves a buyer from reserving the wrong unit.