We went to the bank last Friday to sign the loan. The lady assisting us (her name was Ming) advised what the loan amount was and the details corresponding to the loan.
She also advised that while they will take the developer's computation as is (meaning no appraisal needed and the appraisal fee is waived), they will round off the figure to the nearest thousand. So if there was say, Php 928 in small change, we would need to pay that amount directly to the developer.
Okay, no problem.
Later than night, I decided to double check the loanable amount as I was planning to pay the difference the next day. Lo and behold, the amount we signed for was different from the official computation given by Avida. It was Php 24,000 more.
The thing is, the miscellaneous fees were based on the loan amount. So basically, we overpaid.
This discovery then resulted in a late night phone call to our sales agent. His explanation? The bank probably took the first computation they gave. This was used to pre-qualify us for the loan as we wanted to know whether we would be approved before we gave the reservation fee.
The agent was right. Good thing I kept the earlier computations (they were attached to the official one). He promised to fix this on Monday so we'll see tomorrow.
Well, this teaches me yet again that if I want something done right, I had better check things myself. Assuming that everything is in order will result in wasted time.