TERMS AND CONDITIONS
This document represent the terms and condition that all our customers Crestfield Real Estate Management Limited Customers and their successor in title agree to be bound with when they subscribe to any of our products. Please note, that we do not enforce our right does not mean that we have given up the right. The terms and conditions has been made in good faith to help future administration of the estate and to preserve the right of all stakeholders in the company’s estate.
This term and condition supersedes any information you may have been given by any of our staff, agent or marketing representative. We do not accept responsibility for any customer’s misunderstanding of our marketing concept or misinformation of any sort. Please ensure you clarify your doubts before subscription. Every subscriber to any of the company’s products agree to be bound by the following Terms and Conditions
Definition of Terms
CREM means Crestfield Real Estate Management Limited
Customer or Client means a person who has agreed to buy a property or an asset from Crestfield Real Estate Management or SSA Realties Limited by making a first payment (commitment) or have completed payment for the property.
A Plot of Land means any size of land measuring between 300square meters to 1000 square meters. The size of any plot bought would be specified on the subscription acknowledgement letter.
Site means any place where CREM or SSA Realties asset is located.
C of O means Certificate of Occupancy
R of O means: Right of Occupancy
US or OURS mean Crestfield Real Estate Management Limited
YOU or YOUR means client or customer
- In the case where a client subscribed for more than One (1) plot and such client is unable to complete payment for all the plots within the stipulated time, the company reserves the right after due notice to the client(s) to consolidate/ merge together the plots of land subscribed by such client to the number of plot(s) commensurate with the total amount already paid by such client.
- All customers are expected to keep all receipts and document issued by us in case there is need to prove ownership and in case of disputed payments.
- The client shall be responsible for all costs, expenses incurred in maintaining a plot that has been allocated to a client but not yet taken possession of. Upon taking possession, the client shall pay all accumulated costs and expenses in this category before taking possession of the plot(s).
- In the case when a client fails to pay up his/her subscription within the stipulated period, the company reserves the right to increase the amount payable for the plot(s) by such client to the current amount the land is being sold for.
- All forms of transfer of ownership attract charges at the relevant rate obtainable at the time of transfer.
- In the case where a client is unable to continue with the subscription, and the client has not paid up to 50% of the cost payable on the land/product, such client will get a refund of total money paid; less (i) 25% administrative expenses (ii) Prorated VAT and commission paid to the client’s marketer (if any). Payment shall be made in installments as paid by the client after (6) months notice have been given in writing by the client. (See REFUND POLICY on our website www.crestestate.com)
- Any client who has paid up to 50% of the cost of land shall not be eligible for withdrawal and refund of deposit made. Such client can only complete payment for the land and receive allocation for the plot(s).
- Upon completion of payment for the land, the client shall pay (i) Survey fee at government rate at the time of survey production (ii) Legal documentation fee. All the rates are available at our offices.
- Changes in Survey fee that are not paid as in full at the time of government review of the rates would be borne by the customer
- Production of Survey shall be done the company’s appointed surveyor, the client does not have the right to appoint a surveyor to produce his/her survey.
- Production of survey and issuance of Deed of Sublease shall be done after a client has taken full physical possession of his/her plot(s).
- Payment of development levy is compulsory for all client, charges for development levy is fixed at N400,000.00 for The Nest Organic City (ii) N200,000.00 for The Pines (iii) N200,000.00 for Stallion Ranch.
- Payment of development levy for BAY PAY and First Home will be charged at 25% of the existing cost of land within the estate.
- Payment of annual service charge is compulsory for all client
- CREM reserve the right to review the price of the product subscribed by any client if the client fails to make payment in the manner agreed or defaulted in his or her payments.
- After the payment of the initial deposit a client is expected by the provisions of his contract to pay the balance on monthly basis as required, non- payment monthly as at when due will be treated as a fundamental breach of the contract which can result to termination or revocation of the contract.
- In the case of houses, the price of any house shall be exclusive of the cost of Survey and documentation where the buyer does not own land already. It also excludes the cost of Building Plan Approval and Value Added Tax.
- It is the responsibility of all clients of CREM to pay the government Value Added Tax and Tenement Rates on their property
- Where design review by client leads to increase in floor area of the building or any change in specified finishing material, the extra cost will be borne by the client