TIPS FOR BUYING LAND IN NIGERIA PARTICULARLY IN LAGOS.

The process of buying available land for sale in Lagos Nigeria is pretty simple, but it can be challenging a times.

I will attempt to cover all of the steps involved in this land purchase guide.

Note that buying land is the first concern.

After you successfully purchase a piece of land, you will likely begin to worry about how to secure your investment.

This land purchase guide also cover the common sense steps you can follow to secure your investment.

So, what is the process of purchasing land in Lagos Nigeria?

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.

Offline sources include:

• Browsing property magazines that list properties for sale in mainland and island areas of Lagos Nigeria
• Browsing daily newspaper magazines. These sometimes feature land and buildings for sale
• Talking to friends and family about your desire to buy a plot of land
• Contacting a real estate agent near where you live to help you find land available for sale

Online sources of buying land include:

1. Searching the major search engines like Google, Yahoo, or Bing to find properties available for sale
2. Browsing through land for sale directories on established Lagos Nigeria real estate websites like this one to find land for sale that meets your criteria
3. Conducting a land search using a real estate search tool that combs the entire Nigeria real estate website to narrow down to the land for sale that meets your search criteria

Things To Consider During Land Purchase

When buying land, please take the following into consideration.

1. Determine the size of land required for the building project
2. Determine in advance the number of floors you want in the building project
3. Buy land in an area where high rise buildings are allowed, if you wish to build a high rise building.
4. Verify that the land is free from government acquisition
5. Ensure that the person selling is really the owner
6. Check the distance of the land you wish to buy from the distance of the land from power line route, where applicable
7. Evaluate the distance of the land from the major highway, where applicable
8. 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.

My advice?

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.

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.

Engage the services of a real estate attorney when drawing up the real estate contract.

It will save you a lot of trouble.

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.

Guess what.

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.

Bottom line.

Use an experienced real estate consultant like BELKALID CONSULTS when buying land in Lagos Nigeria. This will safe you precious time and money.

And use the win-win strategies above to secure your land purchase investment.

Take advantage of our free real estate advisory & consultancy by calling our hotline +2348184964460 or send an email to belkalid@gmail.com