Getting duped on the account of buying land in Lagos can be a terrible experience nobody would ever like to have. Many individuals have fallen victim to buying lands that are outrightly not genuine. To them, buying genuine land in Lagos becomes almost a scary adventure because of the previous dark experience they’ve had.
But, here is the thing: buying genuine land isn’t always a quick fix, especially in a place well sought-after like Lagos state. Because of the daily migration of the population into Lagos, the high demand for land for housing purposes has been on the rise. And because of the rush, many have been scammed. But you can prevent yourself from falling victim. Here is how to buy genuine land in Lagos.
1. Carefully Check Owner’s Documents.
You don’t flip past this stage in a haste. More specifically, if you spot a land you intend to buy, you should demand from the land seller the key documents pertaining to the land. This can be as follows, but not limited to Certificate of Occupancy (C of O), Power of Attorney (if you are not buying directly from the owner), Tax Clearance Certificate, Survey Plan, Deed of Assignment.
These documents must be possibly original copies that can be confirmed to ascertain the authenticity of the land. This would definitely keep your feet ahead to discover how genuine the land is, and open your eyes to details concerning the land, reducing the chances of being swindled with fake land. If you spot any inconsistencies at this stage, that may become a red flag indicating that the land may not be genuine. You can stall it from there. Be more careful.
2. Make A Physical Inspection.
Do not think all is well just because you just saw the papers. It does not end there. Apart from checking the documents for verity, the next huge step to take is to pay a visit to the proposed land you intend to buy for physical inspection – or you delegate a trusted confidante. To a large extent, this helps you confirm the realness of the land. And also enables you to uncover other qualities of the land that were not mentioned in the papers: from affirming the actual size and condition of the land, whether it is something similar to what is in the documents.
Additionally, you get to realize the actual location of the land by putting in perspective its surroundings: If it’s near to the filling station, on a power-line course, or having an oil and gas line beneath it. Not all buildings are permitted on land with a power line, or a course of pipeline underneath. And you may not want such a drawback on your land. Knowledge of these is not necessarily seen in the paper. But a physical visit will reveal the complete genuineness of the land to you. So you now decide whether or not to continue.
3. Conduct A Further Search.
When you see the land that meets your desired details, the following stage is to lead an inquiry at the relevant land registry. This further search is important to determine if the land seller is the legal owner of the land and to further ascertain if the land title presented is genuine. It will also reveal if the property is in conflict and whether it is subject to any form of government acquisition, or not.
That’ll keep you away from further stress. Tragically, there have been events where land has been sold to purchasers while the land is actually related to the government, but unaware to the buyer. To ask further questions reveals the genuineness of the land, and saves you from any trace of having problems.
4. Get An Experienced Lawyer.
If you want to make this work easy for you, it’s advised you have a proficient property legal advisor prior to starting your buying journey. The reason is that your lawyer is the person who, through his experience in property acquisition or related matters, confirms the genuineness of any document backing the land you intend to buy. And guides you to ensure you do not run into legal issues before, during, and after buying the land. With an experienced lawyer as your adviser, you stay miles away from problems.
5. Take Your Time.
Most mistakes that happen when buying lands may be traced to being in an unnecessary hurry. Never be in a haste. Scrutinizing the land documents, physical inspections, confirming the documents, and the realness of the land may take you some time, maybe days to weeks. Take your time. Better to spend more time in the process to ensure buying genuine land, than to get in a hurry, and jump into a pool of buying land that is not genuine.
Setting out to buy land in Lagos is one of the biggest investments you can venture into. And the return on investment (ROI) is always high, but you need to follow the right track, to buy genuine land, so you don’t get your capital burnt. Hiring the services of a certified real estate agent would shorten the risk curve and help you make the best investment ever, getting genuine land in Lagos, with less stress. Newera Homes is here to help you. Contact us today to get started.