Q: What exactly is Fractional Ownership?
Fractional ownership is a unique concept of owning premium resort property at an affordable price.  A fractional ownership gives you the exclusive right to your vacation home at your specific property during a particular time of each year for the length of time you own it. This is not a timeshare but a real equitable ownership.

Q: What and Where is The Palisade™?
The Palisade Pioneer is a premium fractional vacation property to be located in Lekki Phase I on Lagos Island in Nigeria.

Q: Why would I invest my money right now even though I can not see the building?
It is generally accepted that the best time to invest is on the ground floor of any building. This opportunity is on the ground floor (preconstruction) and available for you. (1)

Q: Can I buy two or more condo time periods?
Yes, anyone is allowed to buy as many time periods as they deem fit for their needs.

Q: Nigerians like to own there own properties. How does Nigus overcome that?
Each condominium is privately owned by the buyer(s). An owner can purchase all 12 months of the year, therefore, giving them the exclusive rights to the condominium all year round.

Q: I have relatives in Nigeria that I stay with when I travel to Nigeria. Why should I be interested in this?
Vacation home ownership is not for everyone who travels to Nigeria. Some people like to stay with their relatives, however, Nigus is committed to individuals and families, who would like to have a private yet affordable place of their own. In addition, this is a great investment opportunity with good potential on the return of your investment.

Q: How can I be confident that if I invest my money in Nigeria, the government won’t come and destroy my investment?
The real estate industry in Nigeria has grown consistently over the years without the interference of the government just like the stock market.  It is a safe bet that this will continue into the foreseeable future without the interference of the government. (1)

Q: I would like my family to benefit from this, what features and amenities do you have in place to accommodate a whole family?
Nigus is highly committed to individuals as well as to families and we have a whole lot of beneficial amenities to meet the needs of each type of our home owners. Additional features for families include spacious living and play areas, nannies, and onsite daycare room, Easy access to parks, High-end malls, cinema, restaurants, and beaches.

Q. When I buy a unit, will I stay at the same condo each time I visit or do I get a similar condo?
You own your specific condominium and will stay at the same condominium purchased. If you decide to stay longer you will need to rent an available condominium where you may stay for the additional time requested.

Q: How can I be sure that The Palisade™ will be properly maintained and will retain its value?
The Nigus management team is committed to the high maintenance of The Palisade™, and in order to retain the value of the property, Nigus has retained the consulting services of the actual architects and builders who have full details about the building and its upkeep.

Q. Do I have to pay the sale price yearly? Example, if I purchase the Pantone for $17,000. Do I have to pay another 17,000 next year?
No, you only pay a one time sale price. The following years will only require that you pay your monthly maintenance fees. This will be through the life of your ownership.

Q. How will Nigus ensure performance and accountability for this investment in Nigeria?
In agreement with a Local Nigerian financial institution, Nigus’ funds will be dispersed and audited appropriately from the development of the property to its completion. External auditors will be hired to do a yearly audit of our properties and finances.

Q: Can I rent out my unit?
Yes, you can. You can rent out the time you have purchased.

Q: Who is the builder and what are their standards?
The builder is “SAS Consultants”, one of the foremost builders in Nigeria today. SAS has been building luxury homes and offices for over a decade. More importantly, SAS has built several luxury properties on Lagos Island, specializing on development along Leki express road.

Q: Who will manage the property?
Nigus Properties Nigeria will manage the property.

Q: Is it a gated and secure community?
Yes, every Nigus Property development will be gated and secured.

Q: Who is the security service being used?
Nigus intends to hire one of the top security firms in Nigeria. In addition, Nigus will hire and staff security personnel on The Palisade™ property.

Q: What amenities will the facility have?
We have a comprehensive list of amenities and our list continues to grow.  Please see our ever growing amenities list on our website.

Q: Are the following amenities available - Maid services, cleaning service, Cable, Broadband, swimming pool, AC and heater, Gas Cooker, Microwave?
Yes, all these amenities will be available to you except for a heater system, which will not be necessary due to the climate of the Island.

Q: Are the homes fully furnished?
Yes, all homes will be tastefully and lavishly furnished for premium comfort and living.

Q: Is there a Chef and Concierge Pick up from the airport?
There will be Catering and Concierge service pick-ups; however, they are on demand services provided by Nigus.

Q: Can I have a driver and personal car around the city?
Yes, for your convenience Nigus makes available car and driver (car hire) service for all home owners as part of our on demand services.

Q: Who pays the bills?
Nigus pays all the bills. Owners are only responsible for the purchase of your property and your annual maintenance fees.

Q: What are the costs for the different properties?
The Palisade condominiums come in two bedrooms, two bedrooms with a loft, three bedrooms and a three bedroom with a loft. The prices start around $17,000.  We have also created a very convenient payment plan for our buyers. A Purchaser may now own a Condominium at The Palisade™ starting around $265 / $295 / $422 per month for 15/10 / 5 years depending on the purchaser's credit score. (5)

Q: Is there a referral bonus?
Currently, there is a referral bonus of $250.00 for fully paid vacation homes when you refer someone to Nigus Properties. (2)

Q: Are the condos connected or separate from the others?
The condominiums are individual units that share common walls; please refer to our floor plans on our website for more details.

Q: Do you have different payment options?
Yes.  They are certified funds, credit cards, and Nigus financing.

Q. I would need more time to think about this, how much more time may I have to make up my mind?
Nigus currently has only 130 Deeds to sell. Some of these deeds are currently being offered at the special introductory price(s).  After the sale of preconstruction deeds, the prices of the condominiums are subject to increase. Therefore the best time to buy is now.

Q. Can anyone around the world purchase a vacation home from Nigus?
Currently, Nigus is only serving clients in the United States, Canada and England. The prospective owner must have a physical address in these countries. We intend to continue extending our services beyond these countries in the very near future.

Q. I understand that there is a background check process. Could you please explain the process to us?
Yes, there is a background check process in place for every purchaser(s). The background process involves criminal background checks in the United States and Abroad. At Nigus, we believe that this will help reduce risk to our home owners and properties. At Nigus properties, we intend to do all we can to mitigate the risk of money laundering and fraud.

Q. Do the executives own their own vacation condominium?
Yes, each Nigus Executive owns a vacation condominium at The Palisade Pioneer.  We believe, this will allow our executives to experience the same level of services we provide to all our home owners and consequently guide us in improving the overall management of the property.

Q: We trust you, how do we trust your employees in Nigeria, that they will not cause us harm, endanger our lives or steal from us?
Nigus intends to hire only the best and most competent team members who will likewise go through security clearance.

Q: Will our families be safe?
We intend to do every thing within our power to keep every home owner and their families’ safe, including our own families. Nigus will hire one of the best security consulting agencies in Nigeria today.

Q: Will you have armed security guards escorting home owners from the airport to their homes?
We intend to consult and follow the advice of our private security firm on what is the appropriate method to get our home owners home safe and sound.

Q: Will your Au-pairs and Maids be bonded and insured?
No, however, based on our strict hiring policies we intend to only hire the best individuals to work for us.

Q: Will we not be a target for robbery?
We pray not. Our hope and prayer is that none of us will be targets for robbers. Therefore, we will work with our security consulting company which will be one of the best private security firms in Nigeria today. This firm will advice and work with us on all security related issues. We will also send out advisories to our home owners to update them on how to prevent being robbery targets.

Q: At other timeshare properties in the United States, we can swap and go anywhere we want in their chain. Does Nigus have such partnerships?
No, Nigus does not currently have these partnerships. However, we intend to develop new properties and partnerships in the future. You will be able to swap and rent your timeshare giving you the owner the flexibility to use your timeshare anywhere.

Q: Why are you not partnering with a large time share company to leverage their infrastructure?
This Nigerian timeshare concept and business model is unique within itself. Since most major timeshares are based on a per week selling term, it would be difficult at the present time to find a major company who will be willing to deal on our four week term timeshare concept at the price we are offering. We do, however, have plans in the future to partner, where ever possible with a number of large vacation ownership companies

Q: Are maid services include in the purchase price?
No, maid service is not included in the price. However, maid service is available on demand to all home owners.

Q: Are house cleaners included in the price?
Yes, as part of your purchase, Nigus provides for your homes to be cleaned once a week. Owners can request more frequent cleaning will be available on demand to all home owners.

Q: Do you have partnership with any vacation ownership management companies such as II (Interval International) and RCI (Resort Condominium Industries) and if not, any future plans to do this.
We currently do not have partnerships with any large vacation ownership management company. We do, however, have plans in the future to partner with a number of large vacation ownership companies.

Q: In addition are these properties in Nigeria deeded and are the weeks flexible or fixed.
Yes, these are special deeded properties. The weeks are fixed. However, like most vacation properties, you will be able to swap time with other owners, which gives you as a home owner the flexibility you require. Unlike most timeshared vacation home, your time can be rented as an additional income to the owner.

Q: Is Nigus anywhere else?
Nigus Properties is a vacation home property developer and management company currently based in Houston, Texas in the United States with satellite office in Lagos, Nigeria.

Q: Is The Palisade™ a brand new property or it’s been around for a while?
The Palisade is a brand new fractional ownership vacation property set to open April 2010.

Q: When does Nigus envisage the building to be completed?
Nigus envisages the completion of The Palisade Pioneer™ by March 2010. (4)

Q: When will payment be due, prior to 2010?
Payments are due upon purchase. However, there are several financing options available to our home owners.

Q: Is the time share transferable even though I know it is rentable?
Yes, your time share is transferable. Nigus Properties requires a background check on all transfers.

Q: Do you have Staff?
Yes, we currently have 5 executives who run the day to day business of the company. Also included in our staff are our marketing and web team members and an executive administrator.

Q: Why are you only dealing with Nigerians in USA?  (B) If I have renters in
Nigeria, would they need a USA address?
We have extended our market beyond residence of the United States. We now have the ability to sell to Canadian and England residents.
(B): No, renters currently do not have to have a US address.

Q: Are you planning to offer visits for Nigerians in the United States who have never been to Lekki Phase 1?
No, Nigus properties does not intend to organize flying visits for Nigerians in the United States or else where to visit Lekki Phase 1. These are very popular areas.

Q: Right now, are you looking for buyers or sellers?
We are looking for buyers and sellers.

Q: Do you have a model built with 360 viewing?
No not yet, we are looking at having a 360 view and a model built in the near future.

Q: Why should I pay maintenance fees when I can stay at a hotel for the same price?
Nigus is building a 5 star residence. Therefore, we have chosen to be competitive in maintenance, quality, lifestyle and service. This is why we require maintenance fees.

Q: Owner's Value Proposition

* Opt-in Optional Services

Q:  What do you have for critics that say access to Lekki Phase I, is not great right now and Ikoyi is better
Unfortunately, we can not satisfy all critics. However, our goal is to review all areas based on a set of goals. One of our main goals is security and return on investment. We selected Lekki Phase I, because it best fits our set goals for now and the future.

Q: Do you know about the 1004 flat deal?
Yes we do. However, this doesn’t have anything to do with our business model and plan.

Q: How many weeks can I buy?
You can purchase as many weeks/months as you deem fit for your needs. We are currently offering blocks of 4-week periods.

Q: Can I buy one whole year or can I buy the condominium?
Yes, this will require the purchase of 12 months of deeds.

Q: When I buy, am I buying for Life and can I transfer ownership to my children and so on.
Yes, you only make a purchase payment once and you can transfer ownership to your children. (3)

Q: How do I have flexibility when I buy a particular month and want to go to Nigeria in a different time?
Yes, owners buy a particular month. However, like most timeshared vacation properties, you will be able to swap time with other owners. Owners can also rent time from other home owners, which will give you as a home owner the flexibility you request.

Q: How many weeks do I have as an owner?
As an introductory offer, Nigus is selling in four weeks (28 Days) bulks to each new owner at the current preconstruction prices.

Q: Is this fractional ownership where I own a "portion" of a specific unit or is it true time share where I just reserve a block of time?
Since this is the first property Nigus is developing in Nigeria, the time is currently sold for specific unit and time. However, we have incorporated the ability to swap time and rent time from fellow owners. This gives you, as an owner, the flexibility you need similar to reserving a block of time.

Q: What type of legal title will buyer have?
The buyer will be receiving a special title deed from Nigus for The Palisade. A special deed title is the usual contract that a timeshared vacation home owner is given by the developer. A deed is a document sealed as an instrument of bond, contract, or conveyance, especially relating to property

Q: Question: I understand that the land has not being purchased yet. Can the Land be purchased first before I invest my money?
In November 2007, Nigus acquired a piece of property in Lekki Phase I valued at NGN 90,000,000.00 (Naira) and construction is about to start
 

Notes:
1. As with any investment and/or purchase, all risk is assumed by the buyer: Nigus is not guarantying that anyone will make a profit from the sale of your timeshare.
2. Nigus reserves the right to change/discontinue bonus structures.
3. Life equals life of Nigus Properties land lease per Nigeria’s land laws at a particular property. Owners are buying time and not the property
4. Subject to complete sale of preconstruction homes. Nigus is not responsible for acts of God that might cause delays in the project.
5. Financing is subject to credit score, interest rates, etc...

Last Update: 3/09/2009