EDUCATE YOURSELF ABOUT THINGS YOU MUST KNOW BEFORE BUYING A LAND IN NIGERIA
POINTS TO CONSIDER BEFORE YOU BY LAND:
(1)LOCATION- Security, develop/developing residential, commercial ,rural or urban, motor able, will the land appreciate in the next future.
(2)BUDGET-If you are budgeting for a land eg 4million buy a land of 2.5million and use the remaining for other expenses. like Agency, Legal fee, Omonile fee, survey fee etc.
(3)LAND SEACH AND VERIFICATION-"Always do your due diligence"
Do not let cheap land seduce you into problem.
*check if the land is use as a collateral
*Is the land subject to any family dispute?
*Is the land subject to mitigation ie is the land in court?
*Employ a service of a lawyer to run the search of the land
*Go for inspection regularly, disguise as an ordinary person and ask about the land
*Ask questions before buying any land-e.g. seller attitude, behavior, family, violent/troublesome etc.
(4)PAYMENT AND DOCUMENTATION-'Do not pay in cash"
If you doubt the land too much you can go ahead ask a lawyer to draft a specific purchase receipt were the seller will sign.
*Ensure full registration
*Request the original title document ensure that the formal owner does not have copy or the original document
*When you want to buy a land you can ask for the photocopy or document so you make your search at CAC
*Ensure that at the point of payment the original document are hand over to you
*If you start getting excuses from the owner that the document are not here you pay i will give or send it to you later "DO NOT PAY' is a sign of red flag/problem land.
(5)SECURING AND MONITORING-That is why is import to have extra cash after buying the land.
to at least fence and padlock the land.
*If you are not in the country send your relative or Estate management company to keep an eye on the land. visit constantly once every month clear the grass and look around register your presence there.
Fence and write this land is not for sale.
Fence the land in case of any diabolic/juju wont have entrance to the land.
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