Subscription Form

Where is the estate located? Ibadan Expressway, Ibadan, Oyo.

Who are the owners/developers? Gtext Land Limited.

What type of title? Certificate of Occupancy in view.

Any encumbrances? The land is free from government acquisition and adverse claims.

What is the price? 15,625.00 USD (25,000,000).

What is the size of a plot? 400sqm.

The standard payment plan is for 3 Months in installments. We require a minimum of 30% of the total agreed amount on the first installment, 25% on the second installment (1st month), 25% on the third installment (2nd Month), and 20% on the final installment (3rd Month). For any extra month needed, a charge of 5% would be added to the total amount. This should be well explained in your contract of sales.

No further payments are required except those necessary for the perfection of title, the cost of which may vary based on the statutory fees imposed by the relevant government authority. In addition, the Purchaser shall pay developmental fees of $8,333.33 (12,500,000) which can be conveniently spread over a period of 12 to 36 months, representing charges for estate improvements and other developmental obligations during land banking period. The Purchaser may also pay infrastructure fees or service charges that will be determined at the time of construction on the purchased plot(s).

Expected infrastructure: Drainage systems, electrification /street lighting, water supply, waste management system, security cameras, paved roads, perimeter fencing.

What do I get after initial payment? Receipt for the payments made.

Is the road accessible? Yes, the road to the estate is accessible.

When will plots be allocated? Your plots will be allocated to you as soon as payment for the plot of land has been made in full. Upon purchase of land, a temporary allocation will be assigned and sent to you. You thereby have 3 months to complete payment for the land after which your allocation will be made permanent.

Corner piece? The size of the corner piece varies; however, the amount will be prorated using the amount per square meter at the point of purchase.

Can construction start immediately? Construction can commence once payment for the land has been completed and the survey, title deeds, and building approval have been obtained.

Commercial plots? Yes.

Building restrictions? All building designs must be submitted to Gtext Land, approved by Gtext Homes in the first instance, and then by the Lagos State Government before building work can commence.

Survey for multiple plots? Yes, you can have more than one survey however it attracts additional costs.

Can I pay an agent? No. All payments should be made to the Gtext Lands account at its designated banks. Cheque(s) should be issued in favour of Gtext Land. We shall not accept responsibility for any liability that may arise as a result of deviation from the above instruction.

The Company shall not make any refunds for the lands purchased. All land purchases completed and confirmed by Gtext Land Limited are final and non-refundable. Once a purchase has been concluded and the land allocated to the purchaser, payments made shall not be refunded merely because the purchaser changes their mind, decides not to proceed with the property, or is no longer interested in the purchase. Purchasers are therefore advised to conduct all necessary inspections to ensure that they are satisfied with the property and its terms before completing payment.

Subscribers who are up to date on their land payment, documentation levy, and development levy can resell their plots. Approval must be sought and granted by Gtext Land management. Additionally, the re-seller is required to provide the buyer's details to the company to ensure our database is updated accordingly.

1. If the Client is no longer interested in maintaining ownership, the Client shall have two options: actively seek a buyer for the property or request the Company to repurchase the property. If the Client chooses buyback, the repurchase price shall be reduced by 35% of the initial purchase sum (the amount agreed upon at the time the property was initially purchased).
2. If the Client chooses the buyback option, the Company will make payment in staggered installments. Payments shall commence 120 days after the signing of the Deed of Assignment; amounts and timeframe for each installment shall be mutually agreed upon in a separate agreement.
3. The Company reserves the right, at its sole discretion, whether to proceed with the buyback at any given point, based on market conditions, financial considerations, or any other relevant factors.

Independent resale: Clients retain the right to independently resell their property at their discretion. GTEXT LAND must be formally notified to prepare and execute requisite transfer documentation. Associated administrative and documentation costs shall be borne by either the original owner or incoming buyer, as mutually agreed.

Full payment option: If the new buyer remits full payment directly to the selling client, GTEXT LAND must still be informed to facilitate legal transfer. Transfer and documentation fees are to be settled by either party, as agreed.

Payment split option (optional): Where the new buyer elects partial payment, with the balance to be completed by the original owner, the transaction remains between both parties. Formal notification must be provided to GTEXT LAND to process ownership transfer; fees are determined by mutual agreement.

Release clause: Once agreed payment and terms are fulfilled, GTEXT LAND will transfer ownership rights from the initial purchaser to the new buyer. Both parties agree to collaborate for a smooth transfer. This form serves as a general template, and additional clauses or modifications may be required for a specific resale agreement. It is advisable to consult a legal professional for a comprehensive and customized agreement.

Default clause: The company reserves the right to revoke the subscription where the client defaults on the payment plan for three months, and the property will be deemed forfeited.

Revocation clause: The client agrees that the company reserves the right to revoke the plot(s) if there is a default in installment payment or any of the above-mentioned fees. All cost incurred as a result of such revocation shall be borne by the defaulting party.

Reallocation clause: The Company reserves the right to reallocate the Client to another estate if issues arise with the subscribed plots, including changes in availability or zoning. If the Client fails to meet the agreed payment schedule before all plots are sold, the Company may reallocate the Client to another estate with available plots, subject to that estate's terms and pricing.

Ratification of title: Each client is solely responsible for ratification and procurement of their individual Governors Consent under applicable laws. The Company shall not be liable for delays, costs, or obligations associated with processing; clients must ensure compliance and bear attendant costs.