Real Estate Guide Newsletter Lagos Nigeria. June 2012 Edition, Issue 33:
Home Loan Alternative

lagos nigeria real estate guide newsletter the nigeria property magazine


1. Home Loan Alternative

2. A Partnership That Works

3. Property For Sale

1. Home Loan Alternative

A home loan (or mortgage loan) makes it easier to buy a house because it allows you to pay for the property you like over a period of several years.

As a result of this millions of people in Nigeria (and worldwide) have been able to buy property that their salary level would not normally afford.

Unfortunately, many banks in Nigeria are no longer offering home loans (at least for now) after the economic meltdown and the revelation that several banks in Nigeria were not as profitable as they claimed.

Worse still, several banks actually lost substantial amount of money eventually leading to many innocent employees losing their bank jobs.

Bottom line.

If you approach your bank right now for a home loan or mortgage loan, your bank may disappoint you.

In fact, my account officer specifically told me that the bank is not offering mortgage loans at this time.

Are you in this kind of situation?

Do you wish to buy property and need a property loan but your bank is unwilling to give you a loan?

The good news is this . . . There is an alternative to home loans.

What alternative?

The option to pay for any property for sale in installments.

Characteristics of Mortgage Loans

To understand how payment for property in installment works, let's take a moment to review the characteristics of property loans.

A bank will offer you loan subject to certain conditions:

1. You pay interest on the loan (about 17-22% of the loan)

2. You contribute as much as 20-30% of the value of the loan (this is called your equity contribution)

3. You pay all fees (including legal fees, agency fee, valuer's fee etc) associated with the property purchase and registration at the government land bureau

4. The property ownership becomes joint ownership between you and the bank

5. You cannot sell the property without the knowledge of the bank

6. If you default on your loan repayment, the bank may confiscate the property and sell it off (foreclosure) to recover the balance on the loan

Bottom line.

A home loan is not free. The bank is helping you buy property BUT at a cost.

The Alternative To Home Loans

I have good news for you.

We are pioneering a simple alternative to home loans from commercial banks.

What is this alternative?

We want people in Nigeria to be able to buy any property anywhere in Lagos Nigeria (and, indeed, anywhere in Nigeria) and pay in installment.


What does it mean to pay in installment?

Paying in installment means you pay a part of the selling price and then spread the balance over a period of time.

Characteristics of Paying In Installment

When you pay for a property in installment . . .

1. You pay a part of the property sale price at the point of purchase and pay the balance over a period of time (usually 2-4 years).

2. You pay about 17-20% higher (just as you pay interest on a mortgage loan)

3. You pay legal fees and management fee to your lawyer and the property managers respectively, just as with home loans from commercial banks

4. You will not receive the original of the title documents nor can you change the title to your name until you complete payment

5. You cannot resell the property until you have completed payment

6. The transaction is protected by a well documented agreement between the seller and the buyer

7. The purchase agreement (which also states the payment in installment clause) is drawn up by a competent lawyer

8. If you default on your monthly payment, the terms of the agreement will be executed

Bottom line.

When you buy a property and pay in installment, it's like taking a home loan from the seller.

Guess what.

It's easier to take a mortgage loan from a seller (who is anxious to sell) than from your bank with terms and conditions that are ALMOST meant to strangle the customer.

The question is . . .

Do you wish to buy a property right now? Do you want a simpler alternative to home loans from commercial banks?

If yes, take advantage of our new "Pay In Installment" Option.

Buy The Following Properties And Pay In Installment

1. A nursery and primary school for sale near Agbado crossing (near New Oko Oba area) of Lagos Nigeria.

Purchase Price: 16 million Naira

Installmental Payment Price: 20 million Naira (Pay 12 million immediately and spread the balance of 8 million over 36 months)

Estimated Revenue of the school @ 200 pupils capacity: 3 million Naira per annum

The school is available for immediate take over.

Call us on 07086459367, 08033290430 or 08057912607 to buy this school.

2. A plot of land for sale at Palms Garden Estate In Mowe Ofada Axis of Ogun state (close to Nestle Nigeria Plc)

Purchase Price: 1.7 million Naira

Installmental Purchase Price: 2 million Naira (Pay 500,000 Naira immediately and spread the balance of 1.5 million over 24 months)

Call us on 07086459367, 08033290430 or 08057912607 to buy this land.

A Note To Property Owners

Do you have a property you wish to sell?

You may sell it faster if you give potential buyers the option to pay in installment.

So, the question is, "do you want to sell your property super fast?"

Then simply list your property for sale on this site for free and give people the option to pay in installment.

How do you list your property with installmental payment option on this site?

Click HERE to see the property submission form.

Fill the form and we will post the information and announce it to people in our network so you can sell the property fast.

2. A Partnership That Works

One proven way to make money (and with minimal investment) is to partner with established companies with a record of success.

One such international company with a record of success recently launched its operations in Nigeria.

If you missed the opportunity to partner with MTN for huge profit, don't miss this unique opportunity to partner with this multinational company with headquarters in the USA and offices in Lagos Nigeria and other key cities in Nigeria.

Guess what.

The Erimama Wealth Network has partnered with this international company to make it easier for you to earn thousands of dollars per month through the home business opportunity this U.S. based company provides.

Click HERE to signup for a FREE account and get all the details.

3. Property For Sale

The following propertes are for sale.

1. A plot of land for sale at Isheri North GRA with C of O

Price: 6 million Naira

2. Uncompleted 6 bedroom duplex for sale (on 2 plots of land) off Olaniyi street New Oko Oba area of Lagos Nigeria

Price: 24 million Naira

Call us on 07086459367, 08033290430 or 08057912607

Click HERE to see more properties for sale.


FREE Home Business Web Site

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Best Regards,

Samson Itoje,


07086459367, 08057912607, 08033290430

Back To Home Page From Real Estate Guide Newsletter June 2012 Edition Issue 34

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