Frequently Asked Questions

GENERAL QUESTIONS


Developer is a member of the Real Estate Development Association of Nigeria (R.E.D.A.N).

1. Fill application and submit with N25,000 non-refundable application fee.
2. N1,000.000.00 commitment fee payable within 7 clear days from receipt of offer letter
3. Property is allocated on payment of commitment fee
4. 30% deposit payable within 21 clear days of payment of commitment fee
5. Registration fee and commitment fee are deducted from the 30% deposit

1. Transaction is a private sales agreement t0 subject to Stamp Duty
2. Transaction is a private sales arrangement with a transaction benefit from 5 - 10 year repayment plan to be paid on monthly installments.
3. A Deed of Sublease will be issued to the purchaser upon full payment of all dues at the end of the payment plan.
4. Default:

A. The purchaser will be given three months to rectify the situation from date of default notice
B. After the three months grace, the seller will have the right to terminate the contract
C. On termination of the contract:

(a) Al annual payments made will be regarded as cost of occupation and forfeited for that purpose
(b)Purchaser shall be entitle to a refund of 50% of the deposit paid, if the default happens within the first 5 years of the agreement

The purchaser is responsible for payment of:
(i) Agency fees (5%)
(ii) Payment plan arrangement fee - 5% of outstanding amount.
(ii) Stamp duty fees (to be assessed and to be included with Year 1 payment)
(iv) Legal and documentation fees (Excluding Governors Consent, survey plan and statutory charges).
(v) Ground Rent
(vi) Service Charge
(vii) Life cover and building insurance.

REPAYMENT ADVISER

Home Price (?)
Years
30% Down Payment
Monthly Payment
Put the home price to calculate the monthly payment. Down payment and Administration Fee is automatically calculated on reducing balance basis.

Contact Us

  • Gioni Homes, Lekki, lagos
  • +23470 827 436 71
  • info@gioniproperties.com

Get started today for a free home evaluation!

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