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A Contract to Sell is a binding agreement where a seller promises to transfer ownership of property to a buyer at a future date, typically after specific conditions are met. Under Nigerian law, this differs from a direct sale because the actual transfer of ownership happens later, even though both parties agree to the terms upfront.

These contracts play a vital role in Nigerian real estate and business transactions, especially when buyers need time to arrange financing or sellers must clear existing encumbrances. The agreement creates mutual obligations - the seller must maintain the property and complete the sale once conditions are met, while the buyer commits to the purchase and usually makes a deposit to show good faith.

A Contract to Sell becomes essential when you need to secure a property deal but can't complete the transaction immediately. This commonly happens in Nigerian real estate when buyers need time to arrange bank financing, or sellers must first clear existing liens or complete property documentation.

Use this agreement when selling property in installments, managing pre-construction sales of buildings, or structuring commercial property deals with delayed completion dates. It protects both parties by legally binding them to the future sale while giving time to fulfill necessary conditions. For developers and large-scale property investors in Nigeria, it's particularly valuable for managing cash flow and securing buyer commitments early.

• Business Sale Agreement: Specialized version for selling entire businesses, including assets, goodwill, and operations
• Used Car Sale Contract: Tailored for vehicle transactions with specific provisions for mileage, condition, and registration transfer
• Bill Of Sale Contract: Simplified format for straightforward personal property sales with immediate transfer
• Mobile Home Sale Contract: Addresses unique aspects of mobile home transfers, including land rights and utilities
• Sale And Leaseback Agreement: Combines sale with immediate lease-back to seller, common in commercial property deals

• Property Owners/Sellers: Individuals or companies looking to sell real estate, businesses, or significant assets while maintaining control until specific conditions are met
• Buyers: Parties who need time to arrange financing or meet other requirements before completing the purchase
• Real Estate Developers: Use Contracts to Sell for pre-selling properties under construction or development projects
• Legal Practitioners: Draft and review agreements to ensure compliance with Nigerian property laws and protect client interests
• Financial Institutions: Often involved as lenders or stakeholders when financing arrangements are part of the agreement conditions
• Property Agents: Facilitate transactions and often initiate the Contract to Sell process between parties

• Property Details: Gather complete property description, location, dimensions, and any existing encumbrances
• Party Information: Collect full legal names, addresses, and identification details of all buyers and sellers
• Payment Terms: Document the total price, deposit amount, payment schedule, and mode of payment
• Conditions: List all requirements that must be met before final transfer, including documentation and approvals
• Timeline: Set clear dates for deposit, conditions fulfillment, and final transfer of ownership
• Documentation: Obtain property titles, tax clearance certificates, and necessary permits
• Verification: Use our platform to generate a legally-sound document that includes all mandatory elements under Nigerian law

• Party Details: Full legal names, addresses, and identification of buyer and seller with signing capacity
• Property Description: Precise details of the property, including boundaries, improvements, and registration details
• Purchase Price: Total amount, payment terms, deposit requirements, and installment schedule if applicable
• Conditions Precedent: Specific requirements that must be met before final transfer of ownership
• Transfer Timeline: Clear deadlines for completion of conditions and final property transfer
• Default Provisions: Consequences and remedies if either party fails to meet obligations
• Governing Law: Explicit statement that Nigerian law governs the agreement
• Execution Details: Signature blocks, witness requirements, and proper attestation format

A Contract to Sell is often confused with a Real Estate Sale Contract, but they serve distinct purposes in Nigerian property transactions. While both deal with property transfers, their timing and legal effects differ significantly.

• Transfer of Ownership: A Contract to Sell creates a future obligation to transfer ownership once conditions are met, while a Real Estate Sale Contract transfers ownership immediately upon signing
• Payment Structure: Contracts to Sell typically involve installment payments or delayed full payment, whereas Real Estate Sale Contracts usually require complete payment at closing
• Risk Transfer: In a Contract to Sell, the seller retains property risk until final transfer, but in a Real Estate Sale Contract, risk passes to the buyer upon execution
• Legal Remedies: Contract to Sell breaches typically result in contract termination, while Real Estate Sale Contract breaches can lead to specific performance claims