FREQUENTLY ASKED QUESTIONS
1. WHERE IS OUR ESTATE?
Our Estates are located in Ibeju-Lekki Local Government area of Lagos State and Owerri in Imo State.
2. WHY INVESTING IN OUR ESTATE?
Brit Property Nigeria Ltd is designed to provide a comfortable environment for all clients in all aspects of residential, commercial purposes etc. Our aim is to be at the forefront of Estate business and provide innovative solutions in our services.
3. WHAT IS THE SIZES OF THE PLOTS AVAILABLE AT OUR ESTATE?
550 sqm minimum.
4. WHAT OTHER PAYMENTS DO I HAVE TO MAKE IN ADDITION TO THE PAYMENT MADE ON THE LAND?
a. Survey - ₦ 250,000 per plot
b. Legal documentation - ₦ 120,000 per plot
c. Developmental fee - (No fees attached yet until after allocation).
5. WHAT IS THE INFRASTRUCTURE/DEVELOPMENTAL FEE USED FOR?
For the provision of facilities in the Estate such as: paved roads, Electricity, Drainage, Street lights and Documentation.
6. WHAT DO I GET AFTER INITIAL PAYMENT? A starter’s kit which includes:
a. A letter of acknowledgement of subscription
b. Receipts of payment
7. WHEN WILL MY PLOTS BE ALLOCATED TO ME?
Paper allocation on subscription and physical allocation up to 12 months after full payment.
8. WHAT DO I GET AFTER COMPLETION OF PAYMENT FOR THE LAND?
Letter of Allocation, Estate Restrictive Covenant/Sales Contract, Deed of Assignment, Survey.
9. CAN I PAY A DEPOSIT AND PAY THE BALANCE ANYTIME WITHIN THE DURATION OF TENURE?
Yes, but payments must be made on a monthly basis without default within the agreed number of months.
10. WHAT HAPPENS IF I DO NOT MEET UP WITH MY PAYMENT WITHIN A YEAR?
If you are unable to meet up with spread payment within a year, a grace of 3 months will be given after which 1% of the principal rate will be charged monthly until you meet up with the payment.
11. IS THERE ANY RESTRICTION AS TO ANY TYPE OF BUILDING I CAN BUILD?
Yes, you are limited to build residential houses within the designated residential area. Commercial building can only be built in designated area. Other restrictions are as limited in the Estate Restrictive Covenant. Clients are allowed to build whatever structure they deem fit.
12. CAN I START CONSTRUCTION OR BUILDING ON THE LAND NOW?
Yes, you can after physical allocation, at the process, fence will be done in the 2nd year and at the 3rd year respectively, while the infrastructures will commence.
13. IS THERE ANY TIME LIMIT TO COMMENCE WORK ON MY LAND AFTER ALLOCATION?
Assignees are advised to take possession and develop their plot within a year of physical allocation.
14. WHAT HAPPENS IF I DO NOT PAY MY DEVELOPMENT FEES?
Such a customer will not be allowed to mobilize to site.
15. CAN I RE-SELL MY PLOT/PROPERTY?
Yes, a subscriber/buyer who have paid up on his/her land can re-sell, thereby 10% charge of the land consideration which shall be paid to the company by the buyer.
16. WHAT ARE THE CRITERIA SHOULD I DISCONTINUE WITH MY PAYMENT? IS THERE A REFUND?
Basically, you can apply but 40% of the amount paid will be deducted as the administrative fee and others.
You are required to give the company ninety (90) days’ notice to process your refund and additional sixty (60) days should the process not be completed after ninety (90) days. At this process, the refund shall be paid according to the payment plan structure used for the subscription.