Owning Your House and Financing
Most people in the market for a new home spend almost all their time searching for the right building site and house plan. TDC offers the best advantages in location and facilities. The sites are fully serviced with tarred roads, drainage systems, lightening and power supply, and water supply.
Home Ownership Scheme & Financing:
- Applicants are expected to pre-finance the project which normally takes six (6) to eight (8) months to complete.
- A minimum deposit of 50% of the current selling price of the house chosen is required before a house is earmarked. Thereafter applicants shall continue to pay the remainder of the provisional price by instalments until the project is completed.
- The final price will be determined on completion and beneficiaries will be expected to pay the difference, if any, within one (1) calendar month.
- Applicants unable to pay the final selling price will within the stipulated period will start paying interest on the outstanding balance. Deposits paid will be refunded without interest.
- Once full payment of the final selling price is made, applicants would be advised to pick up their keys by a certain date. Failure to do so will incur the levying of security charges to protect the house.
- Applicants who arrange with contractors on the job to carry out extensions, or alterations, with or without the prior approval of the Corporation are hereby cautioned that the Corporation reserves the right to re-offer the premises to another applicant upon non-payment of the final selling price.
- The Corporation offers a warranty period of six months from the date of completion. Within this period the Corporation will undertake free of charge, repairs on any defects brought to its attention. Owners of all houses are therefore advised not to undertake any alterations until the expiry of the warranty period, or do so at their own risk.
- Applicants who have not already completed an Application Form will be required to do so.