KNOW HOW TO VERIFY IF THE LAND YOU WANT TO BUY IS GENUINE OR NOT
This write-up highlights what you must look out for during your land verification especially in Nigerian cities like Ibeju Lekki Lagos And all Over the NATION It deals specifically with land transactions between a reputable real estate company/agents and individuals or group of individuals.
There are quite a lot of things to look out for and a number of verification you need to do when you want to acquire a home or land property especially in a very competitive terrain like Lagos, and other reputable places in Nigeria
These documents are the most important aspect of your real estate transactions and there really no land verification you will be doing without verifying the authenticity of the documents used for the transaction which can range from
1. Receipts of transaction
2. Survey plan
3. Deed of assignment
4. Contract of sale layout plan,
5. Power of attorney to certificate of occupancy and so on
In real estate, doing diligence investigation the validity and authenticity of the property must be revolve out before the cash payment, to avoid crying blue murder! when the deed is done. These days victims of fake lands and fake papers have become more than the land in question because they failed to do their due diligence as regards land verification.
Having said that, there are some guidelines to follow judiciously that would help you with your verification. Here are a few things you should always do when considering to buy any landed property in Nigeria:
1) Know the company: Visit the real estate company’s office you are dealing with or visit their website for their Terms & Conditions (also known as FAQ). This will give you useful insights into their activities and fore-knowledge on the site you are interested in.
2) Schedule Inspection: There is need to see the site in question physically and not base your knowledge of the site on hearsay. Invariably you should book an appointment and visit the site.
3) Know the land’s Coordinates: It is also essential you go to the site with a plan in hand; it is not an adventure or sight-seeing except you don’t have genuine plans of acquiring the property. Hence, when visiting the site, please go with a Land Surveyor who will use a GPS to pick the coordinates of the site and cross check with relevant State Authorities as to the claims of the developer.
4) Cross check the coordinates: Ask for a copy of the survey plan and let the Surveyor help you cross check it with the coordinates he must have picked when you visited the site together.
5) Verify the land’s title documents: Ask for the Excision file number (since they said it has been opened and verify the position of the Excision processing from relevant State authorities.
6) Try to get the going prices of similar landed properties in the area and compare to make an inquiry contact
SANNEX RIO HOME & INVESTMENT LTD
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