Document background
The House Offer Contract is a crucial document in Nigerian real estate transactions, serving as the formal initiation of a property purchase process. It is used when a prospective buyer wishes to submit a legally-formatted offer to purchase residential property, incorporating all necessary elements required under Nigerian law, particularly the Land Use Act of 1978 and relevant state legislation. The document typically includes detailed property descriptions, purchase price, payment terms, conditions precedent, and due diligence requirements. It provides protection for both buyer and seller by clearly documenting the proposed terms of the transaction, while ensuring compliance with local property transfer regulations. This type of contract is essential in both urban and rural property transactions across Nigeria's states and territories.
