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Understanding The Real Estate Mandate Terminology - Properties - Nairaland

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Understanding The Real Estate Mandate Terminology by obidevine(m): 11:38pm On Aug 04, 2017
A lot of real estate agents wrongly claim to be " the mandate ". The right way to use the term is to say " I have the mandate to sell XYZ property "‎





T‎he mandate of sale

The mandate of sale is a contract whereby the customer assigns the real estate agent, (with commission) to search for a buyer for the property he wants to sell:  the real estate agent cannot intervene in a transaction if he does not hold this document which authorizes him to conduct all business activities such as  displays, advertising, visits etc ...

As part of its mandate, the real estate agent must implement all the means at their disposal to carry out its mission and satisfy both the seller and buyer.

The mandate should include several key phrases:

• the names and addresses of the concerned parties,
• the description of the property for sale,
• the amount of the commission due to the realtor,
• the party responsible for the payment of the commission, (buyer or seller)
• the period for which the mandate is granted‎






Understanding the Estate Agent mandate

A mandate is an agreement between a Seller and the Estate Agent(s) regarding the marketing of a property, the agreement duration and obligations for both parties.



There are three common types of mandates:


1).. Sole mandate ‎


A sole mandate is when one Estate Agent has exclusive rights to sell your house within a specific period of time



2).. Multi-listing mandate

A multi-listing mandate is when Agents from different agencies have the right to sell your property. After a sale, the Agent’s commission is split between all listing agencies involved.





3).. Open / dual mandate

An open mandate means that the property is on the books of more than one Estate Agent, and each Agency has the right to sell the property, without being required to share the commission. 



Cc: lalasticlala, Mynd44, obinoscopy, fynestboi ‎

3 Likes 2 Shares

Re: Understanding The Real Estate Mandate Terminology by KendrickAyomide: 7:07am On Aug 05, 2017
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Re: Understanding The Real Estate Mandate Terminology by Nobody: 7:07am On Aug 05, 2017
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Re: Understanding The Real Estate Mandate Terminology by AceRoyal: 7:09am On Aug 05, 2017
Do you need large acres for agricultural or
industrial purposes in Edo or Delta state?

Lands are scattered across various local
government areas in Edo State in various quantity
to suit your industrial or agricultural needs.

Serious and interested persons would meet with
the elders and youths of the community.

*100% security guaranteed.

*No hassles or OMONILE problems.

*Very viable and fertile soil suitable for a wide
variety of crops.

*Amiable and very hospitable communities.

*Easily accessible.

*Availability of good underground water.

*Availability of labor and workforce.

For enquiries and inspection,
please call 07053331484.

Price-#150,000-#600,000/acre depending on
location,proximity and accessibility.
Note-Purchase of over 50acres would attract 5%
discounts.
P.S-
Also available are houses and lands for residential
purpose in Benin city,EDO State.

Also Available:
638 Hectares Of Land For Sale In Delta State.
Location: Along Benin-Asaba Express way(7min
drive from Asaba).
Title: All documents are available and
original copies ( CofO, survey plan, deed of
conveyance).
Price: #1.5M per acre.

1 Like

Re: Understanding The Real Estate Mandate Terminology by etcme(m): 7:12am On Aug 05, 2017
Sole mandate can be so demanding most times
Re: Understanding The Real Estate Mandate Terminology by planetx13: 7:17am On Aug 05, 2017
ok
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 7:19am On Aug 05, 2017
etcme:
Sole mandate can be so demanding most times


Being the sole mandate gives you an edge.

1 Like

Re: Understanding The Real Estate Mandate Terminology by money121(m): 7:24am On Aug 05, 2017
Ok
Re: Understanding The Real Estate Mandate Terminology by Nobody: 7:34am On Aug 05, 2017
interesting..


A beautiful set of duplexes, fully fitted and finished with top quality exterior and interior designs, in mini serviced estate is up for sale.

FACILITIES:
Fitted Modern Kitchen
Industrial central water treatment plant
3car park for each apartment
Modern Brick wall finishing
Marble floor in sitting room and corridors
Italian tiles in other rooms
Quality sanitary wears
CCTV and DSTV Connection ready
Electrical fittings ready
Good paved road with drainage
Dining Area in sitting room
Exclusive compound to yourself
Children play Area
Family lounge
Street light

LOCATION:
Located in a very good spot on serene serviced and secured Estate just 2 minutes drive close to the Circle Shoprite at Osapa London Lekki way before chevron, Lekki.

TITLE: Governor's Consent

PRICE:
20units of luxury 4 bedroom Semi-detached duplex + BQ = #55m
15units of 5 bedroom fully detached duplex + BQ = #65m
12units of 2 bedroom Super Finished Apartment = #28m
(net)

Call/WhatsApp: 08138718647; 08075256644
info@naijapropertiesonline.com

www.naijapropertiesonline.com

1 Share

Re: Understanding The Real Estate Mandate Terminology by Olulinks(m): 7:41am On Aug 05, 2017
etcme:
Sole mandate can be so demanding most times
Tag a moderate price on the product and it will sell fast, since you ain't sharing percentage with other agents, unlike the multi-listing mandate.
Re: Understanding The Real Estate Mandate Terminology by ZombieTAMER: 7:42am On Aug 05, 2017
Have two bedroom flats for rent at igbo efon lekki.... Duplexes for sale also.... Hit me up immediately
Re: Understanding The Real Estate Mandate Terminology by money121(m): 7:46am On Aug 05, 2017
Quotation for Shingles Design (Black with white patches)

Security House

Roofing 37sqm*3,100=114,700



ridges caps 18m*1700=30,600
Nails 1pkt(5kg)*8,000=8,000
Sealant 1sets *5,000=5,000
Installation 37*200=7,400
Transportation=6,000

Grand Total=171,700

Site Location: Ikorodu Lagos

For your next Roofing Project.. Call/WhatsApp 08085310359

Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 9:18am On Aug 05, 2017
Real Estate Assets for sale in various locations  ( 14 different locations) : 

All closeable with ease.


1)....Land for sale:

Location - Plot D517,   Royal Gardens Estate, Ajah, Lagos 

Land size - #811sqm

Price : #60m (negotiable)

Title - Deed Of Sub-Lease, Global C of O. 


2).....Land for #sale  measuring #670sqm within a fully developed area 

Location -   ORAL‎ ESTATE immediately after Chevron roundabout directly opposite Eleganza *before Ikota Villa estate* beside  Oando filling station

@ Lekki - Epe Expressway.

Title: Governor's Consent .

. Price -   #N48M‎ ( negotiable)


3).... Land for sale 

Land size - #609sqm 

Location -  Ikota Villa estate , beside Lekki County Estate and Mega Chicken Restaurant, Lekki-Ajah Expressway, Lagos.

Title - Registered Deed of Assignment.

Price -  #35m ( negotiable) 



4)... Dry Land ( no sand-filling needed, piling has already been done )

Land size  - #1125sqm 

Location - Blk 42,  Abijo GRA , Lekki-Epe Expressway, Lagos

Title - C of O, Letter of Confirmation

Price - N16.5m. (slightly negotiable)



5)... Land for sale:

Location - Blk A zone. Olomu Crescent ,   Royal Gardens Estate, Ajah, Lagos 

Land size - #750sqm ( corner-piece)

Price : #70m (negotiable)

Title - Deed Of Sub-Lease, Global C of O., Governor's Consent



6).... Land for sale 

Fenced and gated land size - #1300sqm ( 2 plots)

Title - Gazette,   Registered Deed of Assignment and Survey 

Location - Olumide Madariola Drive,
 
Seaside Estate, Badore Road, Ajah. 

Price - #25m ( negotiable) ,  1 ( one) plot can be sold at #12m



7)... ‎Land for sale!!!

Location -   Block 45, plot 1107 Abijo GRA .

Land size - #1637sqm

Fenced, with a state of the art security house and gate.

Title: C of O

Price - #23m (negotiable) 



cool.. Fenced Land for sale

Location - " Lekki right ", off Lekki - Ajah Expressway, off new market road ,off T.F  Kuboye road,  Oniru.

Land size -  #1127sqm

‎Title -  Lagos State C of O. 

Price - 160m  (negotiable) 



9)...Land for sale 

Land size - #1100Sqm 

Location - Plot 2A, Temple road, Ikoyi, Lagos. 

Title - Federal C of O ( Lagos State Regularization / Ratification has been done) 

Price - #375m  ( slightly negotiable )



10)... For sale

Land size - #3200 sqm (5 plots)  with a 5 bedroom detached house and 2 separate 3 bedroom bungalows (can be brought down or renovated)

Location -   Cameron road, Ikoyi

Title -  Federal C of O

Price -  1.250 billion naira only. (Slightly negotiable )



11).... ‎House for sale : 

7 Bedroom Corner-Piece Duplex for SALE

‎Superbly finished and Furnished  7 bedroom duplex with 4 room BQ (built in 2010)

Features - Borehole, Water treatment plant, Ample parking space, all rooms ensuite with quality and modern toilet fittings. 

Property comes with a 60kva generator.

Land size - #1596sqm ( 2 and half plots)‎: Location - Atlantic View Estate, Alfa Beach Road, Off Lekki-Ajah Expressway, Lagos 

Sale Price - #160m (negotiable) 

‎Title: Governor's Consent



12)... Direct brief

Bungalow For sale

3 bedroom bungalow ( bungalow can be renovated  or totally demolished  )

Land size - #487sqm ( corner-piece)

Location -  Marshyhill Estate , A-kins Bus - stop, Ado Road, Ajah. 

Title - Registered Deed of Assignment and Registered Survey 

Price - #16m (negotiable) 



‎13)..‎ For sale : Residential Dry Land ( Partly fenced)

Location - Atlantic Nominees Estate, Ajiwe , Lekki-Ajah Expressway, by General paints, Alasia, before Lagos Business School  after  Abraham Adesanya Estate, Ajah.

The property is just between Abraham Adesanya Estate And Lagos Business School.

Land size - #1429.104sqm ( 2 plots)

Title - Global Certificate of Occupancy and Deed Of assignment 

Price - N27m ( slightly negotiable)



14)... Dealing with the agent with the mandate to sell : For sale :

Waterfront property

‎Land size - 1800sqm ( waterfront land )

Title -  Federal C of O

Existing structure description - 4 bedroom detached house with 2 room bq and 3 room guesthouse, and an existing drive way 

Location -  Off Awolowo Road, South West Ikoyi. 

Price - N500m (net)



‎Contact details ‎: Facebook - @loocentservices‎

Email -  loocentservices1@gmail.com.‎

Phone : (08066696890) : (09095116161)

1 Like

Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 9:23am On Aug 05, 2017
PropertiesNaija:
interesting..


A beautiful set of duplexes, fully fitted and finished with top quality exterior and interior designs, in mini serviced estate is up for sale.

FACILITIES:
Fitted Modern Kitchen
Industrial central water treatment plant
3car park for each apartment
Modern Brick wall finishing
Marble floor in sitting room and corridors
Italian tiles in other rooms
Quality sanitary wears
CCTV and DSTV Connection ready
Electrical fittings ready
Good paved road with drainage
Dining Area in sitting room
Exclusive compound to yourself
Children play Area
Family lounge
Street light

LOCATION:
Located in a very good spot on serene serviced and secured Estate just 2 minutes drive close to the Circle Shoprite at Osapa London Lekki way before chevron, Lekki.

TITLE: Governor's Consent

PRICE:
20units of luxury 4 bedroom Semi-detached duplex + BQ = #55m
15units of 5 bedroom fully detached duplex + BQ = #65m
12units of 2 bedroom Super Finished Apartment = #28m
(net)

Call/WhatsApp: 08138718647; 08075256644
info@naijapropertiesonline.com

www.naijapropertiesonline.com

This looks like Southlake homes by CDV in Ologolo , Lekki
Re: Understanding The Real Estate Mandate Terminology by Nobody: 10:10am On Aug 05, 2017
I am into real estate. We sell lands in Lagos, Warri, Owerri and OTA.
Re: Understanding The Real Estate Mandate Terminology by VALOBOY(m): 10:38am On Aug 05, 2017
Interesting
Re: Understanding The Real Estate Mandate Terminology by hibee4uall(m): 10:41am On Aug 05, 2017
Nice info...


Good people of nairaland, pls help a brother to pay his law school fees.No amount is small,you can kindly contact him on 08184941410 for more enquiries and verification, include meeting him personally . THANKS & GOD BLESS YOU


A big thanks to you people that feel concerned. May God continue to bless you and elevate you in all your endeavors.
Re: Understanding The Real Estate Mandate Terminology by logadims: 10:48am On Aug 05, 2017
nice
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 1:50pm On Aug 05, 2017
Let's keep the thread going people.
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 1:57pm On Aug 05, 2017
Definition of Deed Of Assignment

Deed of assignment is the transactional document drawn up by a real estate attorney between the current title holder for a particular property and the new buyer.

The deed of assignment document essentially says that the previous owner has transferred his title on the said property to the new owner for financial benefit (or at a price), which the new owner has paid in full and therefore all his interests (and that of his heirs and assigns) in the aforementioned property ceases from the date the contract was signed.

For example, if a property has a certificate of occupancy from the Lagos state government, it means that the government recognizes the person whose name appears on the title document as the bona fide owner of the said property.

When the title holder sells the property to Mr. XYZ, the real estate attorney prepares a deed of assignment that specifically states the seller has transferred his title to Mr XYZ.

The deed of assignment is usually signed on the date the buyer pays for the property and it is one of the documents required by the state government when the new owner goes to the government to perfect his title.

Note that the deed of assignment document is not the only document indicating transfer of owner.

The following documents are usually involved when you purchase a property.

1. The purchase receipt

2. The contract of sale and

3. The deed of assignment

The seller signs all three documents above when you complete he transaction. Thereafter he hands over the following documents to the buyer:

1. The house plan

2. The title documents (c of o or registered conveyance document)

3. The purchase receipt he received from the original owners who sold to him

4. The survey plan

. . . and any other applicable document.
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 9:44pm On Aug 06, 2017
Definition of Deed of sublease

A deed of sublease could refer to a document by which a tenant or lessee sublets a part or all of leased premises to another person. The right of a tenant or lessee to sublet largely depends upon the terms of the original lease. If the lease is silent regarding the rights of the lessee or tenant to sublease, it is generally accepted that the tenant or lessee may sublease. However, if the terms of the original lease state that the premises may not be sublet then it cannot be.
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 3:04pm On Aug 07, 2017
One of the largest land owning families in Lagos, The Ojomu Chieftaincy Family, has formally informed the general public that any development or other levies, charged by the so called omo-oniles, is not sanctioned by it. “We further give notice that the Ojomu Chieftaincy Family has not instructed or authorised any of its members or agents to collect foundation, decking, roofing or any other form of developmental levy from any member of the public that brought land from the Ojomu Chieftaincy Family or any of its successors-in-title.”
The family has advised any purchaser of land within any of its domains to contact Olisabim Group of Companies, Land Administrators Office, Ikota Bridge, Lagos Epe Expressway, Lekki, to assist inverification of their titles, if required.

Land owned by the Ojomu Chieftaincy Family:
1. Ajiran Village
2. Agungi Araromi Village
3. Igbo Efon Village
4. Olugborogan Village
5. Idado Village
6. Okun Alfa/Okun Ibeju Village
7. Ikota Village
8. Lafiaji Oju-Egun
9. Ikota Village Estate
10. Okun Lafiaji Village
11. Osapa Village
12. Aiyetoro (West) Village
13. Onigbongbo Village
14. Sapata Village
15. Baruwa Village
16. Iberekodo Onife Village
17. Poroku Village
18. Aiyedere Village
Re: Understanding The Real Estate Mandate Terminology by kevindd: 1:35pm On Aug 10, 2017
Thank you for the article here a lot! It is a really helpful thread here. I can also share the article from https://www.glamourapartments.com/services-for-sellers/ It covers some subjects on real estate and may come in handy for beginners. There are also some other cool and interesting articles there which you may like
Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 1:55pm On Aug 10, 2017
For sale : Residential Dry Land ( Partly fenced)

Location - Atlantic Nominees Estate, Ajiwe , Lekki-Ajah Expressway, by General paints, Alasia, before Lagos Business School  after  Abraham Adesanya Estate, Ajah.

The property is just between Abraham Adesanya Estate And Lagos Business School.

Land size - #1429.104sqm ( 2 plots)

Title - Registered Survey, Global Certificate of Occupancy and Deed Of assignment 

Price - N27m ( slightly negotiable)

For Inspection, Contact :

Facebook - @loocentservices

Email -  loocentservices1@gmail.com. 

Phone : 08066696890, 09095116161

Re: Understanding The Real Estate Mandate Terminology by obidevine(m): 11:54am On Aug 26, 2017
Corner-piece Residential Land for sale : 

Location - Plot D517,   Royal Gardens Estate, Ajah, Lagos ( just beside the new Ajah bridge )

Land size - #811sqm ( Corner-Piece, no sand-filling needed)

Price : #65m (negotiable)

Title - Deed Of Sub-Lease, Global C of O.

Contact details below : 

‎Facebook - @loocentservices

Email -  loocentservices1@gmail.com. 

Phone : 08066696890, 09095116161
Re: Understanding The Real Estate Mandate Terminology by RyanCarron: 10:10am On Dec 14, 2021
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Basically, if you have a property and need to sell it… we’d like to make you a fair cash offer and close on it when you’re ready to sell.

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Re: Understanding The Real Estate Mandate Terminology by Xenisha: 4:21pm On May 16, 2022
Need your help
Re: Understanding The Real Estate Mandate Terminology by Xenisha: 1:54pm On Aug 26, 2022
I have found properties with porto portugal real estate here https://mlsworldwide.com/sale-portugal-porto-district-porto for a good price and yes when financing I had to put a down payment. But, after closing, I was able to refinance and put money in my pocket. Now, you must count all the closing cost for both mortgages, so you will not put as much cash in your pocket as it seems, but you certainly will have the property for no money down, and probably some to pocket.

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