FAQ

Ans:     – Electricity – Drainage – Well laid out network of roads – Central Estate Security and co-ordination

Ans: The housing units are strictly for residential purposes only.

Ans: We have relationships with Mortgage banks to which subscribers can be referred.

Ans: Yes, after completion of payment for the housing unit (subject to terms and conditions).

Ans: You get the keys to your housing unit and your copies of the Deed of Sublease.

Ans:  Pick up or download an application form Start making your Initial down payment For clients who qualify for loan, your mortgage processing starts after completion of your down payment and your monthly repayment starts immediately Self financing clients continue to make payment as per their choice.

Ans: Congratulatory letter (immediately after completion of payment), Handover Invitation letter (after completion of construction) and Purchase Agreement.

Ans: No, Realty Point Limited is the sole developer of Prime Estate housing units.

Ans: Initial down payment and balance to be paid through mortgage for qualified subscribers. – One off payment with applicable discount of 2.5%. – Initial down payment and the balance in equal monthly installments over 24 or 60months

Ans: Price review will be discussed when it becomes obviously necessary and the path to take will be mutually determined.

Ans: Yes, Realty Point Ltd has an arm that manages properties for a fee.

Ans: Owners will be notified in writing upon completion of the project. However, note that possession and occupation of the bungalow shall be deemed to have commenced from the date fixed for Handover and all risks and benefits in respect of the property shall be passed to the purchaser.

Ans:  Apart from on Rent-To-Own where refund is not an option, refund will be paid less 15% administrative charges of total amount subject to re-sale of property. This hinges on the premise that funds realized from this project are ploughed into the development of the project as the project is patterned after joint ventures.

Ans: You can amend internally, but for external amendments, approval must be sought from the estate management firm and relevant government quarters. However, Gate house, Generator house and Perimeter fence are allowed in the following dimensions: The Gate House must be ensuite and not more than 12m2 inclusive of any space for cooking if necessary. –  The generator house should not be more than 4.5ft and 7-10sqm in space. –  Low fence (American fence type) block work height of not more than 1m to the ground. –  BQ structure may be approved for the 3 Bedroom fully detached structure according to RPL’s proto type design and specifications.

Ans: BUNGALOW SPECIFICATIONS TYPE A: Building Exterior Complete roof installation, UPVC windows, Front & Back security doors, Texcote/Emulsion paint on external rendered wall, Balcony hand railing Building Interior Plastered cement walls, PVC ceiling board, Plastered partition walls, Conduit, wiring and fittings, Water closets in Toilets, Kitchen Zinc , Drainage pipes & fittings, Internal doors (panel/flush) TYPE B: Walls –  External and Internal walls are rendered and painted in Emulsion paint except kitchen, Toilets and Bathrooms. –  Kitchen walls are finished with glazed ceramic tiles up to a height of 2.10m (i.e Floor to door level) –  Visitors’ toilets are finished with glazed ceramic tiles up to a height of 1.50m –  Toilets (with bathrooms) are finished with glazed ceramic tiles to a height of 3.00m (i.e Floor to roof level) Floors –  Sitting, Dinning and Terraces are fully vitrified ceramic floor tiles. –  Toilets and bathrooms are Ceramic floor tiles. –  All rooms are PVC floor tiles. Ceiling –  All ceiling areas are finished with PVC Ceiling stripes. Doors –  Internal doors are quality imported timber panel doors. –  External doors are quality imported iron doors (Buono brand or approved equal) Windows  –  All windows are coated Aluminum casement windows with burglary bars. Fittings & Fixtures  –  Includes Handrails, wardrobes, kitchen cabinets with granite work top. –  All rooms are en-suite

Ans: It is anticipated that the developer will complete the building between 3 to 6 months after payment of the last installment and all other applicable fees. For Rent-To-Own Option, Realty Point Limited will get the property ready for Purchaser’s occupation or rental under the management of Realty Point Limited within 3-6months after the payment of the initial down payment and the first installment of the 60months installments.

Ans:   We recognize that buyers may need to sell their purchase for varying reasons. However, due to the administrative and legal issues required in the proper transfer of these purchases, we would only honour transfers once full payment has been made. Both buyers have to complete our Housing Unit Transfer Form after which title documents and a Purchase Agreement will be issued to the new owner (buyer). A non refundable fee of N100,000 (One Hundred Thousand Naira only) per unit is payable before the necessary transfer documentations can be made. The transfer fee is subject to review.

Ans:  Approximately within 3 – 6 months after we receive full payment for your unit.

Ans:  You have to make these payments before your housing unit is handed over to you.

Ans: Yes, Legal fees – N100,000 (subject to review) and VAT – 5% of the purchase price payable on demand (Kindly note that these fees are non-refundable).

Ans:  i) Survey fee: N150,000.00/plot (Individuals) or N214,500 / plot (Commercial/corporate body) ii) Legal Documentation fee: N100,000 per plot iii) Development Levy:  N972,000 per plot (1,500 per sqm) iv) Electricity Connection Fee: N50,000 v) Plot Maintenance Fee: N2,000 monthly Thereafter, Estate Services & maintenance Fee becomes payable per annum 12months after allocation Plot Maintenance Fee: This applies only to a subscriber that is not coming forward to fulfill the requirements for allocation after paying for the plot(s).  It becomes due and starts to accrue 12months after the completion of payment for plot (i.e the 13th month) till the client steps forward and fulfills all the necessary conditions for allocation.  When necessary payments for allocation are to be made, arrears of Plot Maintenance Fees will have to be paid first. a. Kindly note that the fees stated above (i–v) are subject to review and to be paid per plot b. Where review of any fee takes place before a subscriber completes such payment, the reviewed amount is what becomes payable by the subscriber.

Ans: Increase in price will not affect existing subscribers in any way except if/when they want to subscriber for additional plot(s).

Q9. What infrastructure will the developer noAns: Electric poles and strings, piped water system, drainage, and road network.t provide with the purchase price?

Q8. WhAns: Perimeter fencing, earth road, transformer and connection to the national grid, boreholes randomly sited to assist during construction.at types of infrastructure will the developer provide?

Ans: Before we commenced these projects, our thorough investigation reviewed that the landed properties are free from every known government acquisition and no adverse claimant.

Ans: Green parks, Police/Security Post. These are to be maintained by RPL on behalf of the residents.

Ans: Approximately 648 square meters or 60ft x 120ft or 18meters x 36 meters for Residential and Commercial plots are as indicated in the approved layout. When allocated, account between RPL and the subscriber will be reconciled as to the actual size of the allocated plot(s). Where allocated plot is less than 648sqm, RPL will credit client’s account with the differential at the rate of purchase and vice versa.