Land Now Pay Later Terms and Conditions

These terms and conditions, together with the Buildbay Limited privacy policy and the Buildbay Limited cookie policy, and any other terms provided to you by Buildbay Limited, set out the terms of the Agreement between you and Buildbay Limited under which we will provide the Land Now, Pay Later Services to you. Please read these terms and conditions carefully before you accept and agree to be bound by them. Should you have any concerns or questions regarding these terms and conditions, do contact us by telephone at 0705840077 or by email at This is a legally binding Credit Agreement (the “Agreement) between Buildbay Limited, a company registered under the laws of the Federal Republic of Nigeria (hereinafter referred to as Buildbay, we, us, our).


…………………………………………… (The subscriber) buying a Land from us, as named on the Buildbay website profile filled in at the time of subscription (the Start Date) (hereinafter referred to as, you and your) Both the subscriber and Buildbay are hereinafter referred to as the Parties


Agreement means this Land Now Pay Later Service Terms and Conditions Land means the Slot(s) which the subscriber subscribes to Slot means 250sqm land size


In consideration for the ……… slots of Land, you agree to pay the agreed fees as set out in the customer registration form.


Survey Fee: 250,000 Naira

Preparation of Deed of Assignment; 50,000 Naira

Development Fee: 300,000 Naira

Please note that the development fee is utilized for the provision of infrastructure in the estate.
4.1 Outright Payment Plan

4.1.1 Subscribers who opt for outright payment plan undertake and agree that upon subscription, they shall make full payment for the desired slots within 3 days of subscription.

4.1.2 Where full payment is not made within 3 days, the allocated slot(s) will be revoked and a 15% administration fee will be assessed for the allocation that has already been made.

4.1.3 The management may at its discretion, choose to extend the timeline referred to in 4.1.1 and 4.1.2 above but such extension shall not at any time exceed a maximum timeline of 7 days.

3months – 6 months Payment Plan

4.2.1 Subscribers who opt for the 3 months and 6 months payment plan undertake and agree that upon subscription, they shall make the initial agreed payment as stated in the customers subscription form upon allocation.

4.2.2 After the initial payment, where full payment of the agreed instalments are not made within the time indicated, the allocated slot(s) shall be revoked and a 15% administrative fee will be assessed for the allocation that has already been made.


The Parties agree that this Agreement starts on the Start Date specified above and terminates on the agreed period of time, as stated at the time of subscription. For avoidance of doubt, the maximum term of this Agreement will be no longer than 6 months with no more than 6 repayments during the Term.


6.1. Buildbay remains the exclusive owner of the Land save and until the subscriber completes payment for the slots subscribed for. At the completion of the payment by the subscriber, the ownership in the slot subscribed to, shall be transferred to the subscriber.

6.2. Nothing in 6.1 above shall restrict the subscriber from making use of the Land, so long as such use is in line with the acceptable use as stated in paragraph 7.


Upon consistent payment for the period agreed to by the customer as the terms of payment, the subscriber shall be allowed to;

i. Commence construction on the Land. Subscribers on the outright purchase plan are obligated to commence construction not later than 3 months after payment.

ii. The construction shall be intended for residential purpose ONLY


The failure of the subscriber to pay the balance in line with the agreed payment terms and timeline in the plan shall attract a movement of a customer to the next payment plan and a subsequent increase in the amount required for the next payment term monthly.

Where the subscriber defaults on their three (3) months’ payment plan, such subscriber will be charged a monthly surcharge of N50,000.00 (Fifty Thousand Naira only) on their subsequent three (3) payments on being progressed to the six (6) months payment plan.

Where the subscriber subscribes to the outright payment plan and fails to make payment, such subscriber will not be moved to the three (3) months payment plan and Buildbay shall reserve the right to revoke the allocation to make provision for other intending customers.

Where the subscriber defaults in payment for a period exceeding 6 months, Buildbay is at liberty to terminate Subscribers subscription, revoke the allocation and refund the total amount paid by the subscriber less 30% being administrative fees.


A subscriber who has paid fully for his/her slot(s) can resell. The new buyer will inherit all the assets and liabilities on the slot(s). The seller MUST notify of the change of ownership/ sale within 30 days and pay Buildbay Limited 10% of the current market value for change of ownership.

Notwithstanding the foregoing, the new subscriber shall pay additional cost for Deed of Assignment and Survey to be prepared in his/her name.


10.1. Buildbay shall be at liberty to revoke an allocation or terminate the subscription of the purchaser, if the subscriber fails to meet the purchase requirement or adhere to the terms and conditions stated therein.

10.2. In the event of the revocation of allocation or termination of subscription as stated above, we shall refund you within 90 days of the revocation or termination to enable us to process the payment of the refund,

10.3. Revocation or termination arising as a result of your failure to meet the payment obligation shall attract an administrative fee of 30% of the total money deposited as at that time

10.4. In the event of a refund at the request of the Subscriber, there shall be a refund of the total money deposited less 30% administration charges and such refund shall be subject to the availability of an off taker.

10.5. Such a refund shall be processed and made payable after a period of 120 (one hundred and twenty) days from the date of request of such refund by you.


Allocation of slots will be made in advance, within 7 days of expression of interest in the slot and first instalment payment for the said slot.


A subscriber may only commence construction, provided that;

i. Such subscribers have made payment consistently for a period of outright/3/6 months.

ii. The developmental levy has been paid.


Buildbay represents that, to the best of its knowledge and belief;

i. It is the sole and beneficial owner of the Land herein allocated

ii. Title is good and free from any encumbrance

iii. It has not and will not enter into any other option or contract of sale or execute any deed, easement or right-of-way affecting the Land or otherwise convey or encumber the sale while this Agreement is in effect.

iv. There is no litigation or proceeding of any type pending or to our knowledge threatened against or relating to the Land

iv. There is no litigation or proceeding of any type pending or to our knowledge threatened against or relating to the Land

13.1. You undertake, represent and warrant that

i. You have the financial means available to meet the payments required under this agreement

ii. You understand and agree to the terms of this Agreement.


An amendment or variation of any term of this Agreement must be in writing and notice of such change must be communicated via mail or physical delivery at the authorised address for service.


With the exception of any payment obligations, neither Party shall be liable for failing to perform its obligations hereunder, were such a party can prove that failure to perform its obligations was caused by war, riots, embargoes, strike, accidents, acts of God or any other event beyond its reasonable control.


a. Negotiation
If any dispute, difference or controversy arises out of or in relation or connection to this Agreement or any dispute relating to the termination of the agreement, the parties shall attempt to resolve and settle such amicably by negotiations between themselves.

b. Mediation
If the Dispute cannot be resolved by negotiation as aforesaid within thirty (30) days, the Parties shall endeavour to settle the dispute by mediation conducted by a sole mediator mutually agreed by them and in default of such appointment, the mediator shall be appointed by the Lagos State MultiDoor Courthouse, Igbosere, Lagos from the Panel of Neutrals of the Lagos State Multidoor Courthouse. Both parties shall bear the costs of the mediation in equal shares.

c. Court
Where mediation fails, parties shall have recourse to the Court of competent jurisdiction for proper interpretation and resolution of disputes.


By accepting the disclaimer on the website and submitting the customers subscription form, you acknowledge that you have read, understood and agree to be bound by these Terms.

Flexi-Real Estate Terms And Conditions

  1. Site inspection is on schedule and we decide using a set calendar; meanwhile customers are allowed for site inspection on request but this attracts a charge of 10000 Naira.
  2. Documentation is free and the land documents are released to the customer after the 24th month of consistent payment.
  3. Allocation is done within 2years of consistent payment from the date of purchase.
  4. Defaulters are allowed a grace period within the speculated 6th-12th month.
  5. Customers that default on the payment for a period of 3 months, would on the fourth month of wanting to get on the plan, pay at the new cost of the land.
  6. Land locations of choice cannot be changed, so we advise a concrete knowledge of the location before making a choice.
  7. Should there be a case where the customer cannot continue payment as agreed, probably as a result of death or any other unforeseen conditions, we welcome the next of kin to take up the payment plan. This is to lay emphasis on the note that there is no REFUND.
  8. Customer are only entitled to health insurance if and only if they complete their monthly payments without defaulting. Note: Health insurance only covers the registered customer.
  9. All payments should be made directly to the company’s account (see details below) and payment receipt sent to the agents or associates for confirmation and to treat TopUp.
  10. Note, Buildbay would not be responsible for any funds sent into any other account other than the company’s account.
  11. By submitting your card details, you authorise our system to auto-debit your bank account for the payment of the estate location you have chosen and at the frequency you have chosen.
  12. The land is not transferable until after 2years and completion of payment, except in the case of permanent disability or death.
  13. All dispute and grievance shall be settled and resolved through ADR (Alternative Dispute Resolution)