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Simple For Sale By Owner Contract
"I need a Simple For Sale By Owner Contract for my 3-bedroom residential property in Lagos, Nigeria, with completion planned for March 2025, including provisions for a 20% initial deposit and the property to be delivered vacant."
1. Parties: Identification and details of the Seller and Buyer, including full legal names, addresses, and contact information
2. Background: Brief context of the transaction and confirmation of Seller's right to sell the property
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed description of the property including address, boundaries, and registration details
5. Purchase Price: Agreed purchase price and payment terms, including deposit requirements
6. Payment Terms: Schedule of payments, method of payment, and consequences of default
7. Title and Documentation: Confirmation of title status and required documentation for transfer
8. Closing Date: Specified date for completion of the transaction
9. Seller's Representations: Seller's warranties regarding property ownership, encumbrances, and condition
10. Buyer's Representations: Buyer's acknowledgments and confirmations regarding property inspection and purchase capacity
11. Closing Costs: Allocation of responsibility for various closing costs and fees
12. Risk and Insurance: Transfer of risk and insurance responsibilities
13. Default Provisions: Consequences and remedies in case of default by either party
14. Governing Law: Specification of Nigerian law as governing law and jurisdiction
15. Execution: Signature blocks and execution requirements
1. Tenant Rights: Required if the property is currently tenanted, addressing existing lease agreements
2. Financing Contingency: Include if the purchase is contingent on buyer obtaining financing
3. Property Inspection: Detailed terms for property inspection if not completed prior to contract
4. Fixtures and Fittings: Specific list of items included/excluded in the sale
5. Environmental Matters: Required for properties with potential environmental concerns
6. Planning Permissions: Necessary for properties requiring specific planning or zoning compliance
7. Third Party Rights: Address any existing rights of way, easements, or third-party interests
8. Post-Closing Occupancy: Include if seller requires temporary occupancy after closing
1. Schedule A - Property Details: Detailed property description, including land survey and boundaries
2. Schedule B - Included Items: Comprehensive list of fixtures, fittings, and other items included in the sale
3. Schedule C - Excluded Items: List of items specifically excluded from the sale
4. Schedule D - Title Documents: List of all relevant title documents and certificates
5. Schedule E - Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Appendix 1 - Property Photos: Recent photographs of the property for identification
7. Appendix 2 - Land Survey Plan: Current survey plan of the property
8. Appendix 3 - Required Permits: Copies of relevant permits and certificates
Authors
Real Estate
Residential Property
Commercial Property
Construction
Property Development
Banking and Finance
Legal Services
Property Investment
Urban Development
Legal
Real Estate
Property Management
Compliance
Document Administration
Property Acquisitions
Asset Management
Contract Management
Business Development
Investment
Property Owner
Real Estate Investor
Property Developer
Legal Counsel
Property Manager
Compliance Officer
Real Estate Administrator
Title Officer
Contract Administrator
Property Acquisition Manager
Real Estate Director
Legal Administrator
Business Owner
Property Investment Analyst
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