Terms & Conditions
Effective June 15, 2024.
1. General Terms
Buyers
By engaging with PropertySec for property purchase or rental, you agree that:
- All transactions involving properties showcased on PropertySec require payment of commission to PropertySec. No purchase or rental can proceed without remitting the agreed commission to PropertySec.
- Any attempt to bypass PropertySec protocols after showing interest and receiving attention from PropertySec management is strictly prohibited.
- All payments related to property transactions must be conducted through designated PropertySec accounts.
Property Listings
For individuals or entities listing properties on PropertySec (direct owners, lawyers, developers, affiliates, property managers):
- You must upload accurate and up-to-date information about properties that are directly under your control or for which you have legal authorization.
- You agree to provide copies of property ownership documents for verification purposes upon request by PropertySec.
- By submitting a property listing, you grant PropertySec the exclusive right to market and facilitate the sale or rental of your property. Any buyer introduced through PropertySec, directly or indirectly, is considered PropertySec's client.
- PropertySec is entitled to receive commission from property sales or rentals facilitated through its platform, regardless of whether the sale or rental is completed with or without explicit notice to PropertySec.
Loan Services
By applying for a loan through PropertySec, you agree to the following terms:
- PropertySec reserves the right to take possession of your property or possessions if you fail to complete loan repayments within the agreed timeframe. We may lock your apartment two weeks after default and may sell any of your possessions to recover our funds.
- Failure to repay loans on time will incur additional interest charges of 10% for each day or week beyond the due date.
- By applying for a loan, you acknowledge and agree that PropertySec has the right to undertake any necessary actions, with or without your knowledge, to recover outstanding loan amounts.
Rentals
When renting through PropertySec, you acknowledge and agree that:
- All information provided to PropertySec regarding rental properties must be truthful and accurate.
- PropertySec is entitled to receive commission from rental transactions processed through its platform.
- Failure to remit commission to PropertySec may result in the temporary lockdown of your rented apartment until commission payment is settled. PropertySec reserves the right to recover commission dues by seizing any of your possessions.
2. Disclaimer & Limitations
Accuracy of Information: PropertySec strives to ensure the accuracy and reliability of information provided on its platform but does not guarantee the completeness or suitability of any property listings, loan terms, or rental agreements.
Liability: PropertySec shall not be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising from your use of its services, including but not limited to property transactions, loan defaults, or rental disputes.
3. Privacy & Security
Personal Data: PropertySec respects your privacy and handles personal data in accordance with applicable data protection laws. By using our services, you consent to the collection, use, and disclosure of your personal information as outlined in our Privacy Policy.
4. Governing Law
Federal Republic of Nigeria, Abuja Jurisdiction: These terms and conditions shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, Abuja, without regard to its conflict of law provisions.
5. Amendments
Updates: PropertySec reserves the right to update or modify these terms and conditions at any time with or without your consent. Changes will be effective immediately upon posting on our website or notifying you via other means.