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Buying a House or Land Property in Lagos State, Nigeria

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Buying a House or Land Property in Lagos State, Nigeria
clipart-house-House-Clip-Art-87There are a numbers of things to look out for when buying a land or building in Nigeria. The following easy steps are vital and will serve as instruction while you make that investment in Nigeria property.
Understand the nature of the property
Investors want to get the top worth for their money. And this often translates to the top return on their investment. With this in mind, you want to evaluate the possible growth in investment in a particular place before you throw your difficult earned finance at it. Growth range is between 5% – 35%. Why get less when you can get more and more? Selection your investment place wisely.
Research who is selling
Always bear in mind the following question: “Who is selling the property? Who is the owner of the property? Is it the owner, the owner son, wife, daughter or someone else? Is it the present owner or the previous owner? Who is name appears in the property documents?
Verify the real owner
Before you buy a property or completed building, must be sure to perform what is called a “search” on the property. This is the procedure of verifying from the state administration if the land or property in question is within administration acquired properties or not and whether there are other problems on the property or any pending litigation. The bureau of lands of Lagos state in Nigeria is liable for all land related issues in Lagos state. It also has office in Alausa Ikeja, Lagos, Nigeria.
Make payment and collate the perfect documentation
Pay the property amount to the asset owner, the collect
a) Purchase receipt
b) The sales contract
c) The building plan
d) Possession of the previous owner documents
File the document for the fresh purchase with state administration
It is vital to perform this step because it lawfully makes you the fresh owner in the eyes of the government. If the land or house already has a Certificate of occupancy, you have got governors consent for it which is amazing. If it does not, then you begin processing your Certificate of occupancy as soon as easy.
Appoint an Estate Agent to support and manage the property
You protect your investment when you perform this especially if you live outside Lagos. Folks who have invested huge time in Lagos real estate have found that it has been one of the biggest decisions they made in their lifetime.
Personal involvement
While your Realtor is liable for finding the best place and closing every deal, it is vital that you are as involved with search as much as easy. Endeavour to visit the place at various times of day so you get a feel of the location and explore the region as much as easy. The seemingly quiet residential place on the morning or weekend might be a beehive of activities by Sunday or midday morning. It is also no private that is most advisable to home-hunt in the rainy season so you understand if there are many leaks in the roof and if the place is prone to flooding.

About Julius

Julius is a writer and an author who wish to share some valuable information with visitors and others with interest in Nigeria.

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