FREQUENTLY ASKED QUESTIONS
Q1. WHERE IS THE ESTATE LOCATED?
PUMPKIN ESTATE is located at IDU, Abuja
Q2. WHO ARE THE OWNERS/DEVELOPERS OF THE ESTATE?
Pumpkin Property
Q3. WHAT TYPE OF TITLE DO YOU HAVE ON THE LAND?
C of O and FCDA Recertification
Q4. ARE THERE ANY ENCUMBRANCES ON THE LAND?
The land is free from government acquisition and adverse claims
Q5. IS THERE A PAYMENT PLAN?
The standard payment plan is for 3 months in installments. We require a minimum of 30% of the total
agreed amount on the first installment, 25% on the second installment (1st month), 25% on the third
installment (2nd month) and 20% on the final installment (3rd month). For any extra month needed, a
charge of 5% would be added to the total amount.
Q6. WHAT IS THE SIZE OF A PLOT?
400sqm
Q7. WHAT OTHER PAYMENTS DO I MAKE APART FROM THE PAYMENT OF THE LAND?
Development fee: N1,200,000, Survey fee: N300,000, infrastructure fee are to be determined at the point of
putting infrastructure on site. (N.B: The price are only valid for a period for a period of three (3) months and
are subject to an upward review based on prevailing cost of construction)
Q8. WHEN DO I MAKE THE OTHER PAYMENT?
The fees for Development should be paid not later than twelve (12) months from the time the land was
purchased (N.B: Where this is not paid within 12 months, we have the right to revoke your plot). The
infrastructure fee is determined at the time of development of the property
Q9. WHAT ARE THE INFASTRUCTURE EXPECTED TO BE PUT IN PLACE?
Drainage systems, electricity/streetlighting, water supply, waste management system, paved roads, perimeter fencing
Q10. WHAT DO I GET AFTER THE INITIAL PAYMENT FOR THE LAND
Receipt for the payment made
Q11. IS THE ROAD TO THE ESTATE ACCESSIBLE?
Yes, the road to the estate is accessible
Q12. WHEN WILL MY PLOT(S) BE ALLOCATED TO ME?
Once payment for the plot of land has been made in full. Upon the purchase of land, a temporary allocation
would be given and sent to you. You there by have 12 months to pay for the development levy. After which your allocation would be made permanent
Q13. HOW MUCH IS A CORNER PIECE AND WHAT IS THE SIZE?
The size of a corner piece varies; however, the amount will be prorated using the amount per square meter
at the point of purchase
Q14. CAN I START CONSTRUCTION OF THE BUILDING IMMEDIATELY?
Construction can commence after payment is completed for land, survey and title deeds and building
approval has been obtained
Q15. ARE THERE COMMERCIAL PLOTS FOR SALE?
Yes
Q16. ARE THERE ANY RESTRICTIONS REGARDING THE TYPE OF BUILDING I CAN CONSTRUCT IN THE
ESTATE
All building designs must be submitted to and approved by Pumpkin Property, in the first instance, and then by the Federal Capital Development Authority (FCDA), FCT before building work can start.
Q17. CAN I HAVE A SURVEY FOR MORE THAN ONE (1) PLOT?
Yes, however payment for each survey (per plot) will be made in accordance with the number of plots
purchased
Q18. CAN I PAY TO YOUR REALTORS?
No. All payments should be made into Pumpkin Property account assigned to that estate. Cheque (s) should be issued in favor of Pumpkin Property. We shall not be held accountable for any liability that may arise as a result of default from the above instruction.
Q19. WHAT HAPPENS IF I CANNOT CONTINUE WITH THE PAYMENT? CAN I GET A REFUND?
You can make reference to our policies below
Q20. CAN I RESELL MY PLOT/PROPERTY?
Yes, a client who paid upon land and development and infrastructure levy can resell their plot. However,
approval must be sought and granted by Pumpkin Property management. We would require the re-seller to provide the company with details of the buyers so as to update our database.
Q21. IS THERE DEFAULT POLICY?
a. The company reserves the right to revoke the application where the client defaults on the payment plan for three months, and the property will be deemed forfeited.
b. In the event that there is a default in payment of purchase consideration or statutory fees within the
agreed time frame, it shall amount to the fundamental breach of this agreement and the vendor (Pumpkin
Property) will not be held liable if subscribed land (s) in PUMPKIN ESTATE have been sold-out; Where there is default in payment and estate is not sold-out, purchaser has the option to move payments into other
existing estates (still selling) of the vendor by properly notifying the vendor (Pumpkin Property) of such
move, and filling all necessary forms.
c. Yes, in the event of revocation or termination, the vendor (Pumpkin Property) shall not be liable to make
any refund to the existing purchaser until the vendor has received his funds corresponding in value to the
amount to be refunded from the third-party purchaser of the property. For avoidance of doubt, PUMPKIN
PROPERTY shall not be obliged to process the acquisition.
REFUND POLICY
Pumpkin Property does not allow or process refunds for purchase fees or other related charges.
Buyback Option
Whereas, the Client has purchased a property from the Company, and circumstances may arise where in
the Client is no longer interested in maintaining ownership of said property; Whereas, the Company is open to providing a buyback option to the Client, subject to the terms and conditions outlined herein, in
consideration of the mutual promises and covenants contained herein, the parties agree as follows:
BUYBACK OPTION:
1.1 If the Client is no longer Interested in maintaining ownership of the property, the Clients shall have two
options:
(a) Actively seek a buyer for the property (b) request the company to purchase the property from the client.
1.2 If the client chooses to have the company repurchase the property, the client acknowledges that the repurchase price shall be 30% reduced from the initial purchase sum. The initial purchase sum is defined as the amount agreed upon at the time of the original purchase of the property.
2. Payment Terms:
2.1 If the clients opt for the buyback option, the payment for the property shall be made by the company of the client. The payment shall be disbursed to the client in the form of staggered installments.
2.2 The installment payments shall commence 90 days after the signing of this Deed of Assignment, and the
specific amounts and time frame for each installment shall be mutually agreed upon in a separate agreement between the company and the client.
3. Discretionary Company Buyback:
3.1 The company reserves the right to decide, at its sole discretion, whether to proceed with the buyback of the property at any given point. The company may discontinue with the buy back option based on its
assessment market conditions, financial considerations, or any factors it deems relevant.
RESELL CLAUSE:
1. Sell Option:
Previous buyer may independently sell the property. Upon securing a buyer, they must obtain a release
form, enabling them to proceed with their sale, even if the full payment for the land or house has not been
completed.
2. Full Payment Option:
The new buyer of the property will make the full payment for the property directly to, Pumpkin Property, as the seller.
3. Payment Split Option: (Please Note That This Is Optional)
This is applicable where the new buyer will make a partial payment for the property, while the remaining
amount will be completed by the initial owner to Pumpkin Property, as seller.
RELEASE CLAUSE:
Upon successful completion of the agreed payment and agreement terms, Pumpkin Property will release
and transfer the ownership rights of the property from the initial purchaser to the new buyer. Both parties
agree to cooperate in the seamless transfer of property rights.
Please note that this form is provided as general template, and additional clauses or modifications may be required as per the specific requirements of the reselling agreement. It is advisable to consult a legal
professional for a comprehensive and customized agreement.
