Giddaa’s licensed advisers answer 2 questions about payment plans & rent-to-own in Nigeria from Nigerian and diaspora buyers. Each answer names the adviser, the sources and the review date.
2 answers · Written and reviewed by Giddaa’s advisory team · Last reviewed
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Usually not. Rent-to-own is easier to start because it needs little or no deposit, but the total paid over the term is often higher than a mortgage on the same home. Compare the full amount you will have paid at the end of each option.
It depends on the contract. Most developers allow a short grace period, then charge a late fee, and repeated defaults can lead to the unit being reallocated with part of your payments refunded. Read the default clause before you sign and keep proof of every payment.
The three Payment Plans & Rent-to-Own answers readers have found most helpful.
Usually not. Rent-to-own is easier to start because it needs little or no deposit, but the total paid over the term is often higher than a mortgage on the same home. Compare the full amount you will have paid at the end of each option.
It depends on the contract. Most developers allow a short grace period, then charge a late fee, and repeated defaults can lead to the unit being reallocated with part of your payments refunded. Read the default clause before you sign and keep proof of every payment.
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