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Nairaland Forum / Nairaland / General / Properties / Basic Information You Should Have Before Buying A Land (18304 Views)
The Basics Of Land Contract Of Sales you need to know before Buying a Land / 8 Factors To Consider Before Buying Land To Build Your Home / Things You Should Know Before Buying That Casement Windows (2) (3) (4)
Basic Information You Should Have Before Buying A Land by NixandaCEO(m): 6:07am On Sep 22, 2016 |
Shelter is a basic neccessity of life and most individuals. want to own their private homes, which has made omo-oniles and land speculators to trick them at the expense of their hard earned money. Land is measured in Hectares,Acres,Metres and Feet in Nigeria. These measurements differs. A standard plot can be described as a marked out piece of land used for building and framing. The size of a plot differs, we have 100 x50feet, 100 x 100ft and 120 x 60feet. An Hectare is a metric unit which prospective buyers and even estate developers tends to get and its measurements is 100m x 100m(328ft x 328 ft) An acre is a unit of measurement for land sellers which gives 4,046sqm or 43,560sqft. There are many hidden secrets when purchasing a land, i will talk about them. They are as listed below: 1.The Land Location The land location has a long way to play in helping you to plan. It will also help the buyer to have a cost in mind and this will also determine the minimum size or lot needed for the building. The choice of location will determine what is important to the buyer depending on his status. A land buyer will want to get the best value for his money and also the best return on investment. You also have to consider the potential growth in investment in that area. Developed lands are properties that have basic amenities like roads and buildings close to them while underdeveloped lands are properties that do not have these amenities. Note that the cost of developing an underdeveloped property is higher than the cost of the former. Your priorities and budget determines your land type. Choose your land location wisely. 2.Make Proper Research Land purchase in a hurry must be avoided. Land visits and investigation must be done before investing your hard earned money. The following quesions will help you. a. Who is the owner of the land? b. Who is selling the land? c. Whose name appears in the documents? Is the current or previous owner? d. What are the current liabilities on the land? To avoid losing your hard earned money get a professional and buy only when you are fully satisfied with the documentation and other things. Make sure you conduct a "search" on the land. "Search" is a process where you verify from the state government if the land in question is within government acquired land or not or whether there are any pending litigation or other issues on the property. 3. Make Payment and Get the Right Documents Pay the amount of the land to the landowner and collect the a. Puchase Receipt b. The Contract of Sales c. The building plan if available d. Originals of other relevant documents in possesion of the previous owner. 4. Get your Certificate of Occupancy(c of o) Land is cheaper in rural areas compared to urban areas and appreciates overtime. Whenever you buy land from the original landowners you can later apply for a c of o from the state government to make it official and later get a Governor's consent for it which is the best. 5. Get a Land within Your Budget After carrying out all the necessary investigations propespective land buyers should have adequate money to pay cash for the land, because loans are not easy to get and may multiply the things in the process of land purchase. Even if the land owner will take installmental payment the land will be more expensive and may consume time and energy, why not save reasonable amount and get your own land. 6. Costs of Building When the type of land to be purchased has been known, and all necessary investigations done, next you have to consider the cost of developing it because the ability to determine the amount needed to develop the land will determine if you will invest in it or not. It is advisable to buy a piece of land that you can develop rather than investing in one which you may find difficult to build on. Always consult a BUILDER in this case. Happy land purchase. 27 Likes 10 Shares
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Re: Basic Information You Should Have Before Buying A Land by Batlan01: 6:46am On Sep 22, 2016 |
ok
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Re: Basic Information You Should Have Before Buying A Land by sommyblaze(m): 6:46am On Sep 22, 2016 |
kk |
Re: Basic Information You Should Have Before Buying A Land by Proffdada: 6:46am On Sep 22, 2016 |
Re: Basic Information You Should Have Before Buying A Land by nony43(m): 6:47am On Sep 22, 2016 |
Nice piece, Op you forgot to mention that we have to settle the omo ni le's or Ndi nwe Ala 2 Likes |
Re: Basic Information You Should Have Before Buying A Land by BE811APP: 6:48am On Sep 22, 2016 |
Nice Information.. I once did all you mentioned.. Everything seemed good at the local govt,State govt et al.. After paying.. I didnt know there was a leaders tussle among the chiefs The aggrieved man that wasnt giving the king.. causes problems with his little thugs even after the present king defeated him in High and supreme courts...lol No. 2 should be done thoroughly not just with the authorities but with the locals and peasant around!!! 2 Likes |
Re: Basic Information You Should Have Before Buying A Land by uchman80(m): 6:48am On Sep 22, 2016 |
On-point, good and timely information, especially in this recession. |
Re: Basic Information You Should Have Before Buying A Land by Nobody: 6:49am On Sep 22, 2016 |
Nice info, especially number 5. . . also don't gall victim to those schemes that make everything seem so rosy, such as the ones that ask you to pay 11,000 per month for 3 years, etc. Most of them are out to get your money because they'll make the payment and other conditions impossible for you at some point, making you eventually have to forfeit the land 4 Likes |
Re: Basic Information You Should Have Before Buying A Land by olaBanks(m): 6:51am On Sep 22, 2016 |
To add to that, consider the future of the area theland is situate. Today's remote area may tiurn out to be tommorow's estate. Lekki and Ajah are instatnces in that regard. 2 Likes |
Re: Basic Information You Should Have Before Buying A Land by acunon: 6:54am On Sep 22, 2016 |
Nice write up |
Re: Basic Information You Should Have Before Buying A Land by Phiniter(m): 6:56am On Sep 22, 2016 |
Interesting |
Re: Basic Information You Should Have Before Buying A Land by Darhema(m): 7:05am On Sep 22, 2016 |
Great |
Re: Basic Information You Should Have Before Buying A Land by GODSBEAUTY(f): 7:05am On Sep 22, 2016 |
genesisproperty: @farming .... 1 Like 1 Share
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Re: Basic Information You Should Have Before Buying A Land by Jamez122: 7:10am On Sep 22, 2016 |
Nice Info pls invite your lawyer before buying any land |
Re: Basic Information You Should Have Before Buying A Land by Sirrexninefour(m): 7:14am On Sep 22, 2016 |
Good! Very Educative indeed! Thanks for the info @Op! |
Re: Basic Information You Should Have Before Buying A Land by gist4kidsblog: 7:21am On Sep 22, 2016 |
Nice info.. For those that already acquired land and built house but yet to roof it.. Kindly call/WhatsApp 08085-310-359 for your original Alum. And stone coated Roofing sheet
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Re: Basic Information You Should Have Before Buying A Land by miqos02(m): 7:27am On Sep 22, 2016 |
good |
Re: Basic Information You Should Have Before Buying A Land by timilehing(m): 7:36am On Sep 22, 2016 |
Ok |
Re: Basic Information You Should Have Before Buying A Land by maggilove(f): 7:42am On Sep 22, 2016 |
GODSBEAUTY:awesome God im speechless. 1 Like |
Re: Basic Information You Should Have Before Buying A Land by AreaFada2: 7:46am On Sep 22, 2016 |
genesisproperty: Noted |
Re: Basic Information You Should Have Before Buying A Land by 3KINGZ18: 7:50am On Sep 22, 2016 |
nony43:lol, those guys sef ehn |
Re: Basic Information You Should Have Before Buying A Land by dhebz2pon(m): 7:58am On Sep 22, 2016 |
Not all real estate companies are like that bro,av worked for 3 to 4 real estate companies and their lands are genuine before establishing mine. For any monthly payments,your 1st payment attracts some documents such as deed of contract,receipt etc which one can use to sue any company that mess up. AnonyNymous: |
Re: Basic Information You Should Have Before Buying A Land by ikukuhero: 7:59am On Sep 22, 2016 |
Re: Basic Information You Should Have Before Buying A Land by klexycole(m): 8:14am On Sep 22, 2016 |
Great and insightful piece. Gonna keep this for future reference. God bless the OP 1 Like |
Re: Basic Information You Should Have Before Buying A Land by sirade(m): 8:17am On Sep 22, 2016 |
ikukuhero:na ubinu ukpabi and sango yam be dat nau lol |
Re: Basic Information You Should Have Before Buying A Land by suledes(m): 8:17am On Sep 22, 2016 |
Gud info bro |
Re: Basic Information You Should Have Before Buying A Land by Princelegacylemoha(m): 8:38am On Sep 22, 2016 |
This is a very good information , BEWARE OF LAND FRAUDSTERS, they are EVERYWHERE ! ! Embrace REAL ESTATE it pays !!
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