HAVE A CONTRACT OF SALE WHEN PAYING FOR LAND/HOUSE IN INSTALMENTS

HAVE A CONTRACT OF SALE WHEN PAYING FOR LAND/HOUSE IN INSTALMENTS

One way to lose land/building you are paying for is to rely on an oral pay small-small agreement.

This morning, a client called Apex Chambers, feeling really bad. He was about to lose the 10 plots of land he was paying for in instalments in Anambra.

Four months ago, he and his friend verbally agreed that he would pay for the land bit by bit and complete the final instalment by 31st December 2025.

He paid the first and second instalments. Everything seemed fine, until today.

The seller suddenly received a higher offer (5 million naira more) and instantly switched. He told his friend, “If you cannot pay the balance by tomorrow evening, I will refund you and sell to someone else.”

Just like that. No loyalty.

He is now running from pillar to post. He is not even expecting money until two weeks from now.

This is exactly why every instalmental land/house purchase arrangement must be backed by a written Contract of Sale of Land.

A proper Contract of Sale protects you from a seller waking up one day, changing his mind, cancelling your oral agreement amor jumping at a higher offer.

It binds the seller legally, fixes timelines and prevents betrayal.

The law is that every transaction concerning land must be in writing.

Before paying the first instalment, get an experienced Property Lawyer to prepare a comprehensive Contract of Sale of Land.

It will save you from stories that touch the kidney.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com