Tuesday, February 14, 2012

Read This Before You Buy That Land


For would be land owners in Nigeria especially Lagos, owning a property can be risky especially if you don’t go through the proper channels. I have heard many sad tales of how “Omo niles” snatched from unsuspecting land owners. The following are steps to take before buying a landed property or house:

knowledge: Get adequate information about lands and property investment. It is advisable you check with experienced buyers or read all you can about them. Newspaper property sections, magazines, books, etc based on property acquisition should not be far from you. 

§        BUDGET: Realestate investment is a lifetime event, if you must know. So before you buy that land or house, you must plan and work it into your budget what type of house;  2,3,4 bedroom bungalow you want. Bearing in mind that they all have different costs. 

§       AGENT/DEVELOPER: In Nigeria it is safer for you to procure the services of credible Land Agent/Developer so you don’t fall victim to scammers and fraudsters. Go to the state Ministry of land and Housing to get registered agents and developers. 
     
      BUY FROM AN ESTATE DEVELOPER/AGENT: : Buy lands in estates. You may ask why. It is less risky. You won’t have to deal with the Omo niles because the Estate agent will deal with whatever issue will arise from the land/estate, not you. Check out Estates at your leisure. DO NOT be in a hurry or be pressurized to buy by any marketer. Once you’ve made up your mind about an estate developer, walk into their office and ask questions