LAND BUYER CHECKLIST
Buying a land is a thrilling and emotional process. It is good idea to work with an experienced real estate company or agent from the very start and also make research about the land, in order to avoid problems. Come homes properties provides efficient and reliable services.
It’s important to understand this process as they help you make more informed decisions. This article will highlight everything you need to look out for when buying land in Nigeria. We will look at things like:
Budget: Before you even start searching for land to acquire, you must be sure what your budget is. This is directly tied to your decision of how much land you can possibly buy.
Location of land: The cost of a plot of land in Lekki is not the same as what the same space of land sells for in Surulere. The former is more expensive given the peculiar character of the neighbourhoods. Lekki is one of the world’s cutting-edge new cities, and already at an advanced stage of development. Location plays a crucial role in where you can buy land in Nigeria. Acquiring land in some parts of Lagos is so difficult that you might have to resort to buying the and along with the property that already exists on it. The more commercially advanced and urban a neighbourhood is, the more expensive it becomes to buy land at such locations. For instance, you can buy a plot of land in Simawa for N800,000 while the same plot of land in River valley can be listed for 10 million.
Land Owner’s Documents: Before you make payment for any land in any location in Nigeria, you should ask for the following documents:
· The Certificate of Occupancy (C of O)
· The Survey Plan
· The Tax Clearance Certificate
· The Deed of Assignment
Never make payment for land without the provision of these vital documents. Don’t take anything for granted because this is one-way fraudulent individuals exploit unsuspecting land buyers. Many have fallen victim to this scam and several others have found themselves in court contesting ownership of land that they paid for without following due process.
It doesn’t matter if you are buying the land from a friend or a close relative whom you trust. Buying land in Nigeria is a financial transaction and should be treated as such. Always insist on seeing the original copies of the aforementioned documents before buying land in Nigeria. Don’t make yourself an easy target for a scam.
Verification of land ownership and availability: be sure to request for the owner’s copy of the land he/she intends to sell to you, it is particularly important to verify the authenticity all the documents that are provided. Ask for proof of ownership, always Involve verification experts before you pay for any piece of land. Don’t take anything for granted. The process of land investigation is quite complicated and you should leave it to professionals to do this on your behalf.
Inspection of the Land: ensure inspecting the land yourself. Avoid delegating the inspection of the land that you intend to buy to someone else. . Don’t rely on a third party to do this for you no matter how much you trust this person. The only exception to this is when you are going to inspect the land in the company of a real estate expert. A growing number of people have been swindled just because they were too busy to carry out a thorough inspection of the land before making payment. Pictures sent to you by the landowner is good but going for an inspection of the land is much better.
Payment Documentation: Every single part of the deal needs to be documented; from the cost of land to the survey fees. Documentation is vital for referencing and you should ensure the documents are detailed.
Anyone selling a property and is reluctant to show you proof of ownership is as good as trying to sell you a stolen property. Documents like the receipt, land survey, Letter of Allocation, Power of Attorney, and Deed of Assignment must be available. It doesn’t matter how close you are to the person; a document is a document and there is no substitute for it. A land verification expert can do this on your behalf.
Additional Cost: be ready to settle any additional cost like survey plan, legal fee, agency fee, cost of signing documents, cost of securing your document
Taking Possession of Acquired Land: this is the final process. ensure to Erect a perimeter fence around your property. The fence lets other prospective buyers know that the land has been acquired. You can go the extra mile of having a decent amount of gravel/sand on the land or even constructing a well. Remember to visit the site frequently and hire a local guard to help you watch over it pending when you’ll be ready to erect a property on the land.
Land buyer checklist :Buying a land is a thrilling and emotional process. It is good idea to work with an experienced real estate company or agent from the very start and also make research about the land, in order to avoid problems. Come homes properties provides efficient and reliable services. It’s important to understand this process as they help you make more informed decisions. This article will highlight everything you need to look out for when buying land in Nigeria. We will look at things like:
Budget: Before you even start searching for land to acquire, you must be sure what your budget is. This is directly tied to your decision of how much land you can possibly buy.
Location of land: The cost of a plot of land in Lekki is not the same as what the same space of land sells for in Surulere. The former is more expensive given the peculiar character of the neighbourhoods. Lekki is one of the world’s cutting-edge new cities, and already at an advanced stage of development. Location plays a crucial role in where you can buy land in Nigeria. Acquiring land in some parts of Lagos is so difficult that you might have to resort to buying the and along with the property that already exists on it. The more commercially advanced and urban a neighbourhood is, the more expensive it becomes to buy land at such locations. For instance, you can buy a plot of land in Simawa for N800,000 while the same plot of land in River valley can be listed for 10 million.
Land Owner’s Documents: Before you make payment for any land in any location in Nigeria, you should ask for the following documents:
· The Certificate of Occupancy (C of O)
· The Survey Plan
· The Tax Clearance Certificate
· The Deed of Assignment
Never make payment for land without the provision of these vital documents. Don’t take anything for granted because this is one-way fraudulent individuals exploit unsuspecting land buyers. Many have fallen victim to this scam and several others have found themselves in court contesting ownership of land that they paid for without following due process.
It doesn’t matter if you are buying the land from a friend or a close relative whom you trust. Buying land in Nigeria is a financial transaction and should be treated as such. Always insist on seeing the original copies of the aforementioned documents before buying land in Nigeria. Don’t make yourself an easy target for a scam.
Verification of land ownership and availability: be sure to request for the owner’s copy of the land he/she intends to sell to you, it is particularly important to verify the authenticity all the documents that are provided .Ask for proof of ownership, always Involve verification experts before you pay for any piece of land. Don’t take anything for granted. The process of land investigation is quite complicated and you should leave it to professionals to do this on your behalf.
Inspection of the Land: ensure inspecting the land yourself. Avoid delegating the inspection of the land that you intend to buy to someone else. . Don’t rely on a third party to do this for you no matter how much you trust this person. The only exception to this is when you are going to inspect the land in the company of a real estate expert. A growing number of people have been swindled just because they were too busy to carry out a thorough inspection of the land before making payment. Pictures sent to you by the landowner is good but going for an inspection of the land is much better.
Payment Documentation: Every single part of the deal needs to be documented; from the cost of land to the survey fees. Documentation is vital for referencing and you should ensure the documents are detailed.Anyone selling a property and is reluctant to show you proof of ownership is as good as trying to sell you a stolen property. Documents like the receipt, land survey, Letter of Allocation, Power of Attorney, and Deed of Assignment must be available. It doesn’t matter how close you are to the person; a document is a document and there is no substitute for it. A land verification expert can do this on your behalf.
Additional Cost: be ready to settle any additional cost like survey plan, legal fee, agency fee, cost of signing documents, cost of securing your document
Taking Possession of Acquired Land: this is the final process. ensure to Erect a perimeter fence around your property. The fence lets other prospective buyers know that the land has been acquired. You can go the extra mile of having a decent amount of gravel/sand on the land or even constructing a well. Remember to visit the site frequently and hire a local guard to help you watch over it pending when you’ll be ready to erect a property on the land.
