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Offer To Purchase Property Form

Offer To Purchase Property Form Template for Nigeria

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Key Requirements PROMPT example:

Offer To Purchase Property Form

"I need an Offer to Purchase Property Form for a commercial building in Lagos, Nigeria, with a staged payment plan over 6 months and specific conditions regarding existing tenant agreements that expire in March 2025."

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Document background
The Offer To Purchase Property Form is a crucial document in Nigerian real estate transactions that initiates the formal property acquisition process. It is used when a potential buyer wishes to formalize their interest in purchasing a property and needs to present their offer in a legally compliant manner. The document must align with the Land Use Act of 1978 and various state-specific property laws in Nigeria. It contains comprehensive details about the property, proposed purchase price, payment terms, conditions for the sale, and due diligence requirements. This form serves as the foundation for subsequent negotiations and, when accepted, forms the basis for the final sale agreement. It is particularly important in Nigeria's property market where land tenure systems and property rights are strictly regulated by both federal and state governments.
Suggested Sections

1. Parties: Full legal names and addresses of the buyer (offeror) and seller (property owner)

2. Property Details: Complete description of the property including address, land registry details, and property dimensions as per survey plan

3. Purchase Price: The offered amount, currency, and payment terms including deposit requirements

4. Payment Terms: Detailed breakdown of payment structure, installments, and payment methods

5. Due Diligence Period: Timeframe and conditions for conducting property and title investigations

6. Conditions Precedent: Conditions that must be met before the sale becomes binding

7. Seller's Warranties: Guarantees regarding property ownership, encumbrances, and condition

8. Closing Terms: Timeline and requirements for completing the transaction

9. Default Provisions: Consequences of either party failing to meet obligations

10. Governing Law: Specification of Nigerian law and relevant state jurisdiction

11. Signature Block: Space for parties' signatures, dates, and witness details

Optional Sections

1. Tenant Rights: Required if the property is currently occupied by tenants, outlining their rights and notice requirements

2. Mortgage Contingency: Include when buyer's offer is contingent on obtaining mortgage financing

3. Property Inspection Clause: Detailed terms for property inspection rights when buyer requires specific inspection conditions

4. Furniture and Fixtures: List of movable items included/excluded in the sale when applicable

5. Development Rights: Include for undeveloped land or properties with development potential

6. Special Conditions: Any unique requirements or conditions specific to the transaction

7. Agent Commission: Include when real estate agents are involved in the transaction

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including survey plans and land coordinates

2. Payment Schedule: Detailed breakdown of payment installments and due dates

3. Inventory List: Comprehensive list of fixtures, fittings, and items included in the sale

4. Due Diligence Checklist: List of required documents and verifications to be completed

5. Title Documents: Copies of relevant title documents and certificates

6. Property Photographs: Visual documentation of the property's current condition

7. Land Use Approvals: Copies of relevant zoning and land use permissions

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































Clauses






























Relevant Industries

Real Estate

Legal Services

Banking and Finance

Construction

Property Development

Agriculture (for land purchases)

Industrial

Commercial Property

Residential Property

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Compliance

Risk Management

Finance

Investment

Operations

Due Diligence

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Estate Manager

Facilities Manager

Property Developer

Investment Manager

Real Estate Investment Officer

Compliance Officer

Due Diligence Officer

Property Valuer

Land Administrator

Real Estate Portfolio Manager

Property Acquisition Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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