The legal structure governing how Propzora securely holds and releases funds in every real estate transaction.
Buyer Accepts & Funds
Funds locked in escrow
Verification
Propzora or self-verification
Deal Progresses
Parties complete the deal
Buyer Confirms
Release approval
Funds Released
Per the recorded escrow terms
Effective Date: 27 September 2026
This Escrow Agreement (“Agreement”) governs the use of Propzora’s escrow-support service for eligible real estate transactions.
By creating, accepting, funding, or participating in a Propzora escrow transaction, each participating user agrees to be bound by this Agreement, together with the Propzora Terms of Service, Privacy Policy, Cookie Policy, and Refund & Cancellation Policy.
Propzora provides technology and transaction-support infrastructure designed to facilitate the secure handling and release of funds in eligible real estate transactions.
A Propzora escrow transaction may involve:
An agent may participate on behalf of the buyer or seller.
The identity and role of each participant will be recorded within the relevant escrow transaction.
Propzora escrow currently protects real estate transactions only.
Eligible transactions may include transactions involving:
Propzora may reject or restrict an escrow transaction where the proposed transaction is outside the platform’s permitted scope or presents legal, regulatory, security, fraud, or other material concerns.
An escrow transaction may be initiated by the buyer, seller, or an agent participating in the transaction.
The person initiating the transaction may invite the other relevant participants.
Creating or initiating an escrow transaction does not by itself lock the buyer’s funds.
The buyer must review the relevant escrow details and accept the transaction before the buyer’s funds are locked into escrow.
The escrow details may include:
Where a transaction is initiated from a Propzora property listing, relevant listing information may be carried into the escrow transaction.
Where an agent creates a listing for property owned by another person, the actual owner or seller must be identified and added as the seller before the listing may proceed as an eligible transaction.
An agent does not become the property owner merely by creating or managing a listing.
Users must not knowingly provide false ownership, property, identity, or transaction information.
After the buyer accepts the escrow transaction, the buyer may fund the transaction through the payment methods made available by Propzora.
The buyer’s funds remain subject to the terms of this Agreement until released, refunded, or otherwise resolved in accordance with the transaction and applicable policies.
The amount required to fund an escrow transaction may include:
Propzora’s applicable escrow fee is calculated according to the transaction amount and the pricing applicable when the escrow transaction is created.
The applicable fee will be displayed to the user before the transaction is confirmed and funded.
Current applicable escrow fee tiers are:
The applicable fee may be updated by Propzora for future transactions. The fee applicable to an already-created escrow transaction will be based on the pricing displayed and accepted for that transaction unless otherwise required by law or agreed with the affected parties.
An agent may participate on either the buyer’s side or the seller’s side.
Where the agent represents the seller, the agreed agent commission may be deducted from the seller’s proceeds before the remaining amount is released to the seller.
Where the agent represents the buyer, the agreed agent commission is funded by the buyer separately from the seller’s property transaction amount and Propzora’s applicable fee.
The seller’s agreed property amount is therefore not reduced by a buyer-side agent’s commission.
Agent commissions must be clearly agreed and recorded within the escrow transaction.
Each escrow transaction may have a private Deal Room for participating parties.
The Deal Room allows the buyer, seller, and participating agent to communicate about the transaction.
The Deal Room currently supports text-based communication only.
Users should not assume that a message, comment, or statement in the Deal Room automatically changes the formal terms of the escrow transaction unless Propzora records or approves the change where such approval is required.
Deal Room communications may be retained as part of the transaction record and may be reviewed when investigating disputes, cancellations, fraud, or other transaction issues.
A buyer may request Propzora’s property or document verification service where available.
Where Propzora performs verification, the process may include:
Depending on the location of the property, Propzora may work with relevant land registries, government authorities, field agents, or other appropriate verification resources.
Verification is a due diligence service and does not constitute an absolute guarantee that a property is free from every existing, future, undisclosed, fraudulent, competing, or legally enforceable claim.
Users remain responsible for providing accurate information and reviewing transaction documentation.
The buyer is responsible for:
The seller is responsible for:
An agent participating in an escrow transaction must provide accurate information and act consistently with the role disclosed in the transaction.
An agent may provide comments, evidence, clarification, or other relevant information regarding a cancellation or dispute.
An agent does not have the authority to approve or reject a buyer’s cancellation request solely because the agent is participating in the transaction.
Each escrow transaction may have a deadline displayed in the escrow details.
The deadline represents the expected timeframe for progressing the transaction.
When the deadline passes, the escrow status may change to OVERDUE.
An overdue status does not automatically:
Funds may remain locked while the parties continue completing or resolving the transaction.
A buyer, seller, or participating agent may raise a dispute when necessary.
Funds may be released when the conditions for release have been satisfied.
Where the buyer confirms that the transaction should proceed to completion, the applicable transaction funds may be released in accordance with the recorded escrow terms.
Where an agent is entitled to commission, the applicable commission may be paid according to the agreed transaction structure.
Propzora may delay release where there is a genuine security concern, suspected fraud, unresolved dispute, conflicting instructions, legal restriction, verification issue, or other material reason requiring review.
The buyer is the party who may initiate an escrow cancellation request.
Submitting a cancellation request does not automatically cancel the escrow or release the funds.
The seller may accept the cancellation request or disagree with it.
Where the seller accepts the cancellation, the transaction may proceed to refund in accordance with the applicable refund process.
Where the seller disagrees, the matter may proceed to dispute or review.
An agent may provide comments or evidence but cannot independently approve or reject the cancellation.
Where the buyer no longer wishes to proceed and the transaction has not materially progressed, Propzora may review the available transaction information and, where appropriate, process a refund.
Propzora may consider factors including:
A cancellation decision will depend on the circumstances of the particular transaction.
A buyer, seller, or participating agent may raise a dispute.
A dispute may concern matters including:
When a dispute is raised, the relevant funds may remain locked while Propzora reviews the matter.
Propzora may review available evidence, which may include:
Participants may be requested to provide additional information where necessary.
Depending on the facts and evidence available, a dispute may result in:
The applicable outcome will depend on the circumstances and evidence available to Propzora.
An agent’s commission may be considered separately according to the agent’s agreed role and the circumstances of the dispute.
Propzora may maintain records relating to escrow transactions, including:
Such records may be retained in accordance with Propzora’s Privacy Policy and applicable legal requirements.
Users may independently contact other users or property participants they discover through Propzora.
However, where a transaction is completed outside Propzora’s escrow system, the transaction is not protected by Propzora’s escrow process.
No Propzora escrow means no Propzora escrow protection.
Propzora cannot apply its escrow release, cancellation, refund, or dispute procedures to a transaction that was not placed into Propzora escrow.
This does not exclude any rights or remedies that may exist under applicable law.
Propzora may suspend, restrict, delay, or review an escrow transaction where there are reasonable concerns regarding:
Where appropriate, Propzora may request additional information or documentation before allowing a transaction to continue.
Propzora may use third-party payment providers and financial infrastructure providers to process payments, funding, transfers, or withdrawals.
The payment provider may apply its own technical requirements, processing procedures, and terms.
Propzora is not responsible for delays caused solely by a third-party payment provider, bank, network, or other external payment infrastructure, except to the extent required by applicable law.
Where funds become eligible for withdrawal, the user may request withdrawal to an eligible bank account supported by Propzora.
The bank account name must satisfy Propzora’s applicable account verification and name-matching requirements.
Propzora may request additional verification before processing a withdrawal.
A ₦2,000 withdrawal fee may apply to withdrawals of funds that have not passed through an eligible escrow transaction.
Where funds are withdrawn as proceeds from an eligible completed escrow transaction, the separate ₦2,000 withdrawal fee does not apply.
Withdrawal processing may take time due to verification, payment processing, banking systems, security checks, weekends, public holidays, or other operational circumstances.
Where a refund is approved under this Agreement or the Refund & Cancellation Policy, Propzora will process the refund using the applicable payment or wallet process.
Where an escrow transaction is cancelled and a refund is due, the applicable escrow fee associated with that cancelled transaction is refundable in accordance with Propzora’s refund process.
Refund processing time may depend on the payment provider, banking system, transaction method, and other operational factors.
Propzora facilitates the escrow-support process but does not guarantee that a buyer and seller will successfully complete their underlying real estate transaction.
Propzora does not itself become the owner, seller, buyer, landlord, tenant, developer, or legal representative of property solely because an escrow transaction is created through the platform.
Creating or funding an escrow transaction does not itself transfer legal title or ownership of property.
Property ownership and title transfer remain subject to the applicable transaction documents, laws, registration requirements, and relevant authorities.
Each participant represents that:
Propzora may suspend or terminate an escrow transaction where necessary because of:
Where funds are affected, Propzora will handle them in accordance with the applicable transaction records, policies, and law.
Propzora’s escrow service is designed to facilitate the controlled handling and release of transaction funds.
It does not replace:
Users should obtain professional advice where the circumstances require it.
Material changes to an escrow transaction should be recorded through the Propzora platform.
A participant should not rely solely on an informal external agreement to assume that Propzora’s escrow instructions have changed.
Propzora may require confirmation from the relevant parties before implementing a material change.
Participants agree that electronic records, transaction confirmations, platform notifications, Deal Room communications, payment records, and other digital records generated through Propzora may be used to administer and evidence the escrow transaction, subject to applicable law.
This Agreement forms part of Propzora’s overall contractual framework.
Where relevant, it should be read together with:
If there is a conflict concerning a specific escrow transaction, the provisions specifically governing the escrow transaction will apply to that escrow matter to the extent permitted by applicable law.
Nothing in this Agreement is intended to remove or restrict any consumer right, statutory protection, or legal remedy that cannot lawfully be excluded or restricted.
This Agreement is governed by the laws applicable in the Federal Republic of Nigeria, subject to any mandatory legal rights or protections applicable to the parties.
Questions, complaints, cancellation matters, and escrow concerns may be submitted through the support channels made available by Propzora.
Email: support@propzora.ng
Phone: +234 705 652 8753
Website: propzora.ng
Propzora may request transaction details, supporting information, or evidence when reviewing an escrow complaint or dispute.
By creating, accepting, funding, or participating in a Propzora escrow transaction, the user confirms that they have had the opportunity to review this Escrow Agreement and agree to its applicable terms.
Where a buyer is required to accept an escrow transaction before funding, that acceptance constitutes confirmation that the buyer has reviewed the displayed transaction details and applicable escrow terms.
Last Updated: 27 September 2026
Last updated: September 27, 2026 — Propzora Legal Team
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