Shelter is one of the fundamental need of man. Hence the desire of many to acquire landed properties to meet this fundamental human need. The desire to meet this need however comes with a process which if not followed or properly deployed can frustrate the quest for acquiring landed property especially in a mega city like Lagos.
The following steps should guide you in the acquisition of landed property in Lagos:
Count the cost,have a budget: Acquiring a landed property is not a child's play. Many have rushed into acquiring landed properties without critically counting the cost of purchase . Buying a landed property does not end with the cost of the land. You must consider other costs such as legal and agency fees, cost of survey, cost of obtaining land information, cost of documentation with the Government, developmental fee( when you buy within a privately developed estate ) and probably fencing. All these costs should be included in your budget which will invariably guide your choice of location and size of landed property.
Knowledge of the property market in your preferred location: To get the best value for your money,where you invest you money in acquiring a landed property is crucial. Every location has their peculiarities hence the property value. Equip Yourself with relevant market knowledge viz a viz your investment goal/purpose.
Seek to know who is selling: With different stories of fraudsters selling properties under guise of being an estate agents, son, daughter, husband, wife to the land owners, it is important you seek to know who is selling or authorized to sell. Does such a person have a legal document authorizing him/her to sell? Read in Punch newspaper sometimes in July 2017, of an old woman who won legal battle against the person who bought her landed property sold to him by her only daughter without her consent. Never be in a hurry to buy seek to know who the land/property owner is and be sure of the credibility of the real estate agent.
Conduct a Search: Many unsuspecting investors have fallen victim of " we already have a post dated cheque for the property but if you can make payment before the date then the property will be yours" many have lost money to this scammers in a bid to rush and pay. Conduct a thorough search with the state government to verify the true ownership of a landed property,whether the land is free from government acquisition or not, if it is under litigation or has any other issue. A visit to the Lagos State bureau of lands in Alausa will be of benefit to you.
Making payment: After confirming the authenticity of the property by verifying the true ownership and genuineness of the real estate agents, you can then go ahead and make payment for the landed property to the property owner or representative. Ensure you obtain your evidence of payment (receipts), duly signed contract of sale, deed of assignment,survey plan, originals of all registered titles such as Certificate of Occupancy, Governor's consent e.t.c, building plans (for an existing building) and original of all relevant documents.
Register your newly acquired landed with the Government: The property you purchased becomes legally yours in the eyes of the law when you register your documents with the state government.
Contact Yemisi on +2348055213225, +2348093165249 for more details and site inspection.
