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How To Stay On The Safe Side During Real Estate Transaction - Properties - Nairaland

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How To Stay On The Safe Side During Real Estate Transaction by Lagosfinder(m): 3:10pm On Aug 03, 2020
Today we'll discuss briefly on some tips, on how to stay safe during a real estate transaction, which is aimed at making you an informed buyer.
1. Have A Budget
One mistake many intending property buyer keep making is not having a budget before they set out to buy a land or a house.

2. Demand For The Document
Buying lands, without knowing the document the seller possesss is like attempting to buy a car from an auto dealer or independent seller without asking him to show you his car papers or even driving license.

3. Conduct Research To Verify The Land
Ownership and availability, it is not enough to request for the documents, it is particularly important to verify the authenticity of all the documents that are provided to the appropriate agencies.

4. Ask Questions Before Buying Land In Any Location
After you have verify the documents, please feel free to ask as many questions as you want. For instance, it's important to know why the owner of the land has chosen to sell the land. Ask if there's any dispute, etc.

5. Always Involve Professionals
In land matters before you buy a land, a Lawyer, Surveyor, Architect and a Real Estate Consultant are the 4 most important people you must get in touch with before you buy a land/house.

6. Endeavor To Visit The Site In Person
Regardless of how busy your schedule is, you have to find a way to create enough time to carry out a through inspection of the land before you buy.

7. Documents And Payment
Take the pain to document every single part of the transactions involved in buying land. Every single part of the deal needs to be documented.

8. Take Possession Of Your Property
Please take possession of your land immediately you buy or within a reasonable time after you buy the land, so as to ward of land speculators or fraudsters prowling around to steal.

CONCLUSION
Do your due diligence! Be detailed before you put your money down. Don't be in haste to pay; refused to be rushed or pressured.

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