Buying Process and Payment Terms

The process to purchase one of our fine luxury houses or Apartments is as easy as 1-2-3.

1. Complete our New Home Purchase Application
This application provides us with your basic personal information as well as employment and contact information. The information you provide is kept confidential and is used to assess your basic eligibility to purchase one of our homes. The Purchase Application can be completed online, or you may print out the application from our website, and mail it to us. Please note: This Purchase Application is not your credit application. If you require mortgage financing, the lending bank will require additional information from you in order to make an approval of your home loan. For a detailed list of the type of information your bank, or our preferred lenders, will usually require to assess and approve a mortgage, please click HERE.

2. Speak to our sales agent and request an Offer Letter
Once your Purchase Application is received by us, it will be reviewed and you will usually be contacted within 2 days by one of our sales agents to determine your specific requirements and answer any questions you have about purchasing one of our homes. If you desire, the agent can schedule an appointment with you or your representative to tour our model homes and construction site. If you are seriously interested in purchasing one of our homes after you speak with our sales agent, the agent will then prepare an Offer Letter for you. The Offer Letter will contain the exact pricing and terms for the specific model or Condo style and lot you have requested. Offer letters are usually valid for 14 days to. If you wish to apply for a loan to finance the purchase of your home, Royal Palm Estates does not provide financing for our homes, however, we will also assist you with the necessary paperwork that your bank may require, or put you in contact with one of our preferred lenders.

3. Review and sign your Offer Letter then return it within 14 days with the required deposit
Once you receive your Offer Letter you and your attorney should thoroughly review the information. You will need to sign the agreement and return it to us with the necessary deposit. You may make payments in US Dollars, or in Cedis at the equivalent selling exchange rate established by the National Investment Bank of Ghana in effect the day you make payment. Upon payment of your deposit, your plot or condo unit will be officially reserved for you. Completion times for each house ranges from 10 to 15 months depending on the model, optional features you select, and payment method. Apartment units usually require 24 to 30 months to complete. We will schedule periodic inspection visits to your new home so you can personally examine the progress while it is being built. When the home nears completion, settlement and a final inspection will be scheduled with you (and your lender if you are using a mortgage to pay for the home). Once settlement occurs and final payment is received, your purchase is complete and you will take possession and start enjoying your new home!


Payment Terms - Royal Palm Estates Houses
There are three ways to pay for your New House in Royal Palm Estates
  1. Cash Progress Payment (also referred to as Self Financing)
    1. Purchaser pays 10% deposit of base price of the house plus cost of all options before allocation and commencement of the construction period.
    2. Purchaser shall pay 20% when Foundation is completed.
    3. Purchaser shall pay 25% when First Floor Lintel Level Is Completed.
    4. Purchaser shall pay 25% when Roof is completed.
    5. Purchaser shall pay 10% when Interior Plastering is completed.
    6. Purchaser shall pay 10% when home is completed. The purchaser shall take possession and occupation upon final payment of the house.

  2. Mortgage Loan
    1. Royal Estates Group will issue an offer letter
    2. Applicant will pay the required 40% deposit and obtain a mortgage application from your mortgage institution or one of our preferred lenders- Royal Estates will assist in the process but Royal Estates Group does Not provide financing.
    3. After processing and/or approval and completion of construction, the mortgage institution will make the required payment of the balance owed on applicants behalf and grant you occupation and possession after the required mortgage documents have been executed.

  3. EZ Pay Extended Construction Financing
    1. Purchaser pays $10,000 or $ 15,000 deposit (depending on model) before allocation and commencement of the construction period.
    2. Purchaser chooses all options and pays for them within 90 days.
    3. Purchaser makes first monthly payment 90 days after deposit .
    4. Plot selection is guaranteed and Construction begins..
    5. Purchaser makes 35 more equal monthly payments including interest.
    6. The purchaser shall take possession and occupation upon final payment of the house.



Payment Terms - Royal Palm Terraces Apartments
There are two ways to pay for your Apartment in Royal Palm Terraces
  1. Cash Progress Payment (also referred to as Self Financing)
    1. Purchaser pays 40% deposit of base price of the Apartment and options before allocation and commencement of the construction period.
    2. Purchaser shall pay 20% when Roofing commences.
    3. Purchaser shall pay 15% when Tiling commences.
    4. Purchaser shall pay 15% when Painting commences.
    5. Purchaser shall pay 10% when Apartment is completed. The purchaser shall take possession and occupation upon final payment of the condo.

  2. Mortgage Loan
    1. Royal Estates Group will issue an offer letter
    2. Applicant will pay the required 40% deposit and obtain a mortgage application from your mortgage institution or one of our preferred lenders- Royal Estates will assist in the process but Royal Estates Group does Not provide financing.
    3. After processing and/or approval and completion of construction, the mortgage institution will make the required payment of the balance owed on applicants behalf and grant you occupation and possession after the required mortgage documents have been executed.




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