Buying Land Lagos Nigeria - Free Tips For Buying Land In Lagos. Secure Your Investment!
Buying land Lagos Nigeria - The process of buying available land for sale in Lagos Nigeria is pretty simple. I will cover all of the steps involved in this land purchase guide.
Well, the first thing to do when considering buying land is to locate the land you wish to buy.But, how do you know that a particular land is available for sale?
You can find land for sale using offline and online means.
4. Verify that the land is free from government acquisition
5. Verify that the person selling is really the owner
6. Evaluate the distance of the land you wish to buy from oil pipeline route, where applicable
7. Evaluate the distance of the land from power line route, where applicable
8. Evaluate the distance of the land from the major highway, where applicable
9. Evaluate the distance of the land from the moat or natural gorge, where applicable
Government regulations specify distances for items 6-9 above. However, some land sellers will tell you it doesn't matter whether the land does not meet the distance requirement from pipelines, highways, power lines, and moats.
Don't believe what they say.
When you purchase land that contravenes the land act, sooner or later, the government will take action against you.
Land Buying Etiquette
Some land buyers try to outsmart their real estate agent by reneging on the real estate commission they are suppose to pay to the agent after the transaction is completed.
Do not be like them.
Yes, the transaction may have been concluded and you have secured your land purchase. But don't forget to remunerate those estate agents who worked hard to help you get the best deal.
As the Lord Jesus said, "the worker is deserving of his wages".
Therefore pay the real estate agents involved in the transaction the full amount of the estate agent commission.
Another thing to remember is this . . . do not try to save money by writing the purchase agreement yourself or using a quack to do so.
One more thing.
Draw up a solid real estate contract or agreement using an attorney even if the seller is your friend, relative, or trusted acquaintance. This is called due diligence.
This is not about whether you trust your friend or relative or not. It's about doing what is right.
Don't let emotions cloud your sense of judgment . . . your sense of right and wrong.
Get the right contract drawn up and properly signed by the parties concerned. It's the right thing to do.
How To Secure Your Land Investment
After buying land, one of the first things you can quickly do is to fence it round to signify that possession has been taken. If the land is already fenced round, good for you.
A second must-do is to start processing your documents immediately with the land registry of the Lagos state government. This process officially transfers the title from the previous owner to you, the new owner.
The sad fact is that a lot of land owners do not do this. And this eventually creates ownership title debate in the future that may swing the law courts against you in the event of a dispute with the seller's children or extended family members.
So, my advice is . . . officially transfer ownership to yourself by registering the title change officially with the Lagos state government.
Sure, this will cost you money. But it will secure your land investment.
A third way of buying land and securing it is to build a small gate house or a set-back boys quarters and getting someone to live within the premises of the property.
This is especially useful when you buy an investment property you do not plan to develop for a long period or a good number of years.
The person residing in the property will become you 'eye and ears', keeping you informed of events around the vicinity of your land purchase area.
You don't need to spend a dime on salary for this person. Simply look for a trustworthy poor fellow who already lives around the neighbourhood and offer to allow him stay in the one or two room gate house or BQ free of charge.
You know what?
He will be more than grateful to send you regular updates in exchange for free accommodation.
This is a true win-win situation.
Use an experienced real estate agent when buying land in Lagos Nigeria. And use the win-win strategies above to secure your land purchase investment.
Contact us if you want to buy land or completed buildings in Lagos Nigeria. You will be glad you did.