BUY LAND REPUBLIC – TERMS AND CONDITIONS OF LAND PURCHASE
Company Name: Buy Land Republic (hereinafter referred to as “the Company”)
Registered Office: [Insert Company Address
1. Introduction
These Terms and Conditions (“Terms”) govern all land purchases, installment plans, and related transactions with Buy Land Republic. By making payment (full or partial), the client (“Buyer”) acknowledges that they have read, understood, and agreed to be bound by these Terms.
2. Nature of Transaction
- Buy Land Republic facilitates the sale of verified land properties across designated locations.
- All transactions are governed by property documentation, location verification, and payment confirmation.
- The Buyer must ensure due diligence before making payment, as all deposits signify a binding commitment to purchase.
3. Payment Terms
- Payment can be made outright or through an installment plan as offered by the Company.
- All payments are non-refundable, except where the Company is unable to deliver the agreed property.
- Buyers who fail to complete payment within the stipulated time automatically forfeit their rights to the land, and any amount paid shall be treated as liquidated damages to cover administrative, legal, and opportunity costs.
- A buyer may only request a transfer to another plot or project subject to management approval and availability, with applicable administrative fees.
4. Withdrawal or Cancellation
- The Buyer cannot withdraw or request a refund once a payment has been made, except in proven cases of Company default.
- Requests for cancellation due to personal reasons, change of mind, or financial difficulty will not attract refunds.
- Buyers are advised to fully consider their financial capability before committing to a payment plan.
5. Default and Termination
- Failure to meet up with three consecutive installment payments (or the specified grace period) will lead to automatic termination of the transaction.
- Upon termination, the land shall be resold, and the Buyer loses all prior payments and claims.
- Reinstatement (if permitted) will attract a reinstatement fee and must be done within 30 days.
6. Documentation and Allocation
- Land allocation will be made only after full payment (including documentation and survey fees).
- Processing time for allocation shall not exceed [X] working days from payment confirmation.
- The Buyer must sign all contractual and allocation documents before taking possession.
7. Resale and Transfer
- Buyers must obtain written approval from the Company before reselling, transferring, or assigning rights to another party.
- Unauthorized transfer or resale automatically invalidates the transaction.
8. Property Use
- All lands sold are strictly for the purpose stated (residential, commercial, or agricultural).
- Any change in land use requires approval from the Company and relevant authorities.
9. Dispute Resolution
- All disputes shall first be resolved amicably through mediation between both parties.
- Where unresolved, the matter shall be referred to arbitration in accordance with the Arbitration and Conciliation Act of Nigeria.
- The decision of the arbitrator shall be final and binding.
10. Limitation of Liability
- The Company shall not be liable for any indirect, consequential, or incidental damages arising from the Buyer’s failure to comply with these Terms.
- The Company’s liability is strictly limited to the value of the property purchased, in cases of proven Company default.
11. Governing Law
This agreement shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.
12. Acknowledgement
By making payment, signing documents, or engaging in any form of transaction with Buy Land Republic, the Buyer confirms that they have read, understood, and accepted these Terms and Conditions in full.