Document background
The For Sale By Owner House Contract is essential for private property transactions in Nigeria where sellers choose to market and sell their properties without engaging a real estate agent. This document is designed to protect both parties' interests while ensuring compliance with Nigerian property law, particularly the Land Use Act of 1978 and relevant state property regulations. It's commonly used by property owners who want to maintain direct control over the sale process while ensuring legal protection. The contract includes crucial elements such as property description, price, payment terms, warranties, and transfer procedures, all tailored to meet Nigerian legal requirements. This document is particularly relevant in an environment where direct property sales are becoming increasingly common, and parties seek to reduce transaction costs while maintaining legal compliance.
