How can I buy a Landed property or a House from Landshop?
Landshop has a range of landed properties and housing units displayed for sale on the website.
You can select any of these, decide to inspect the properties, or request for more information from a Landshop consultant and proceed to make your payment once you have decided.
This option is for subscribers wishing to buy the property as a whole unit.
Can I make my payment over a period of time?
Yes, Landshop offers installment payment plans on all the properties, ranging from 3 – 18 months period.
While payments made between 0 – 3 months will attract no charges, any payment plan spread from 4 – 18 months, will attract a premium for the spread payment options.
How can I make payments for my property on Landshop?
You can make your payment either by using your debit (ATM) card, do an online transfer or a direct bank deposit from anywhere around the world.
What happens when I pay and how do I get my property documents?
Upon confirmation of payment, you will be sent an acknowledgement message and official receipt within 24 hours.
You will also be issued a contract of sale & allocation of property document within 5 working days.
When you have completed all your payments for documentation, you will be issued with a survey and deed of assignment for your landed property OR a deed of sub-lease for your house.
What kind of houses can I build on my Land when I buy Land on Landshop?
You can build any house design of your choice on your Land but it must comply with the general estate guidelines for infrastructure development within the respective estates.
What does it mean to Grow House, through the GrowProperty feature on Landshop?
GrowProperty is one of the distinct features of Landshop, which enables you to buy a house in small units called slots. Rather than worry about the stress of paying millions for a house, GrowProperty allows you “grow” the House, by buying it in bits and according to the amounts you can afford at any point in time.
How does it work?
This feature allows you co-own residential properties in slots across Nigeria for a period of time and allowing you earn fixed returns on the property annually.
You also have the opportunity to keep buying additional slots until you own the entire house.
What is a slot of a House?
The slot of a House on Landshop, represents 5% of the total cost of the entire house.
Accordingly, every house available under this feature of GrowProperty, is divided into 20 equal slots and offered for sale to subscribers.
You can start your selected slot payment with a minimum of N50,000 and spread the balance over the space of 12 months.
How safe is my investment?
The title to the entire house you are buying slots from is held in trust on behalf of all subscribers by a Trustee (third party company) that ensures your ownership is secured. You will get yearly Investment reports from the company i.e PAC Trustee Ltd and all proceeds from its sale or rental is administered by the Trust company.
What do I get when payment is made for the slots on Landshop?
You get a receipt of payment within 24hours and a contract of sale within 5 working days and your Investment report will be created and uploaded to your portal within 21 working days.
Are there any extra charges?
No, you are not eligible to make any extra payments after you purchase your slots, but will be required to pay for documentation during the hand-over stage for a deed of sub-lease when you eventually own upto 100% of the apartment.
Do I automatically own the house once i start buying in slots?
Yes, if you have paid out for the whole house.
But if you haven’t and only have a few slots, then you co-own the house with others and receive a fixed return annually on the house or a pay-off amount in the event that the property is bought outright by another party.
Are there limits to the number of slots to grow?
No. You can buy as many slots as you can afford.
How many units do I need to purchase before I can own a home?
As many units as are available on any particular property.
What does it mean to Grow Land, through the GrowProperty feature on Landshop?
GrowProperty is one of the distinct features of Landshop, which enables you to buy land in square meters. Rather than worry about the stress of paying millions for a plot of land, GrowProperty allows you “grow” the Land, by buying it in bits (called square meters) according to the amounts you can afford at any point in time.
What is a square meter of Land?
A square meter is simply an area with the shape of a square that measures 1 meter on each side. It is used for measuring areas of anything from rooms to houses to land and has the sign m².
Usually the size of a plot of Land differs from city to city, but the average plot of land measuring 100ft by 50ft contains about 450 square meters.
Can I visit the Estate to see the properties under GrowProperty before I make payment?
Yes, you can visit any of the sites by scheduling an inspection with us.
Do I automatically own the Land, when I purchase only a few square meters?
Yes, you automatically own the actual size of Land you buy without any conditions attached and your property investment profile is created immediately, while your account is always credited whenever you buy additional square meters of Land.
If I buy a few square meters of Land, what can I build on or do with it?
To build on it, you need to have up to 300 square meters to get a physical allocation. However, if you own between 1-299 square meters, you co-own the Land with other subscribers and are only able to benefit from the value appreciation or derivable income from the Land.
If I purchase a few square meters, would I be given allocation immediately?
Yes. You will be given immediate document allocation and you will get a physical allocation once you accumulate up to 300 square meters in a single location.
If I buy a few square meters of Land today and I want to buy more in the future, will I still get it at the same price?
The prices of units of Land are a function of availability. You can however request a reservation of additional square meters with our book-on-hold feature.
How do I monitor my various portions of land if buy on Landshop?
Once you purchase any portion of land on Landshop, and account is opened for you (Online Portal) and all your property are listed along with their various values as they appreciate.
What guarantees do I have for buying small square meters of Land and co-owning it with other people?
The title to all property is held in trust on behalf of all subscribers by a Trustee (third party company) that ensures your ownership is secured. You will get yearly Investment reports from the company i.e PAC Trustee Ltd.
What other payments do I make apart from land payments?
Apart from the cost of the Land, subscribers are eligible to pay for documentation (deed of assignment + individual surveys) once they are due for a physical allocation.
Also, if the Land is to be provided with infrastructure in the future to increase its value, the cost will be discussed with all the subscribers and a decision will be taken as applicable.
What happens when I decide to re-sell or develop my Land whenever the prices appreciates?
Landshop notifies all subscribers of current value of every Land investment yearly and subscribers would be able to either:
Retain your Land i.e. to allow it to continue appreciating.
Sell it i.e. to Landshop or any one of your choice at the new rate; however you would be required to share the appreciation value in the ratio 70/30 to you and Landshop for administration/handling charges.
Develop it: If you have less than 300 square meters and choose to develop it, Landshop will aggregate all subscribers with similar intent and develop on the Land. Then, the derivable income (rental or sale) from each unit shall be shared to all the subscribers in the proportion of their units as per existing terms and conditions.