What is the difference between a reservation payment and a down payment?

A reservation payment is valued between P25,000 and P100,000. Upon receipt, it is used to secure your preferred unit against other buyers.

A down payment is a percentage of your unit’s total contract price. It is the first in a series of amortization payments used to pay for your unit in full.

A turnover balance is the final payment. Assuming all prior payments have been submitted, this balance is paid upon delivery of your unit.