Document background
The Wholesale Real Estate Contract is a specialized agreement used in Nigerian property transactions where an intermediary (wholesaler) contracts to purchase property rights with the intention of assigning these rights to an end buyer for a profit. This document is essential when investors seek to facilitate property transactions without taking final possession of the property. The agreement must comply with Nigerian legal requirements, including the Land Use Act, state property laws, and registration requirements. It typically includes detailed provisions for property description, purchase price, assignment rights, due diligence periods, and closing conditions. The contract serves as a crucial tool for real estate investors, particularly in markets where direct seller-to-end-buyer transactions may be challenging to arrange. The document's structure accommodates the unique aspects of Nigerian property law while facilitating efficient property assignments.
