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10 Rules Of Investing And Buying Land In Nigeria - Properties - Nairaland

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10 Rules Of Investing And Buying Land In Nigeria by next2u: 4:32am On Sep 24, 2015
10 RULES OF INVESTING IN LAND IN NIGERIA

Many Nigeria in different part of the world ,home and abroad want to invest in landed property in Nigeria but owing to the various land matter that is arising ranging from government acquisition land, multiple sales of a particular land to various people ,omonile disturbance which are the few that tend to discourage Nigerian and foreigners to invest in land in NIGERIA
Here are the 10 rules of how to invest in the landed property in Nigeria

1) HAVE SPECIFIC BUDGET
investing in land require specific budget which must be set in place in respective the amount you have in your bank account. you have to research the fee attach to the land you intend to invest in.
NOTE: When you buy from an A REGISTER REAL ESTATE FIRM, you are sure that you are buying from the right source .there are three basic title a land must posses for you to be secure. RECEIPT, DEED OF ASSISGNMENT, A SURVEY PLAN.
OTHER TITLE THAT WILL COME LATER :GOVERNMENT CONSENT,LETTER OF ALLOCATION,POWER OF ATTONEY,C OF O,DEED OF TRANSFER

2) BEFORE INVESTING IN LAND KNOW THE TITLE AND INVESTIGATE THE TITLE

TITLE are the various document that is attached with land which shows ownership of the land and this help you to know that the land belong to and free from government acquisition area. After you get the title you are meant to do verification on those title with the help of an register real estate firm or solicitor but I recommend a register real estate agent
there are three basic title a land must posses for you to be secure when you want to invest on land. RECEIPT, DEED OF ASSISGNMENT, A SURVEY PLAN.

ADVANTAGES OF KNOWING THE TITLE ON A LAND.
help you not to invest in government land.
It help you not to invest in land of fraudulent people
It help you to invest in the rightful land to prevent future problem
It service as an evidence incase of future challenges on the land
It help you to know the next step of action in getting the relevant document which make your land recognize and the title belong to you
No one can easily steal or transfer your land when there is title on a land with your name.
NOTE: Construction of road and building beside or close to your land it add value to your land. Also some land may not have any title on it ,it does not mean it is not genuine instead the owner have not taken any step to make sure he/she get the necessary title of the property done. all you need is to verify that the land is real and the rightful owner

Incase of PROPERTY INHERITED ,you must verify the rightful beneficiary and the consent of the family head must be seek. for verification, I advice you seek the assistance of an Estate firm or a solicitor.

3),YOU MUST DO YOUR VERIFICATION ON THE LAND BEFOR INVESTING
Verification can be done in many ways depending who you are buying from and what type of title is on the land. in the case where there is TITLE on the land, the title can be use as a means of verification.

If the land do not have any title on it, then as side the owner who want to sell, you must see other family member to confirm he/she is the owner, If possible the baale or oba of that location of the land and ask question from the residents on the street where the land is located and involve a estate surveyor and valuer, solicitor when you want to invest in such land.
NOTE:TITLE can be done on land without any title. never just buy and invest in a friend, family friend, neighbor or colleague land without investigation, verification, making research on the land with an estate firm or a solicitor

visit my blog for more rules richard360property..com.ng

Tel: Mr. Richard 08024995989
Email: richard360property@gmail.com
Face book: 360 EMN PROPERTY
Website:360degreeemn.com

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