Buying an apartment is usually the biggest purchase
of one's life, and for most of us it represents a
significant financial outlay. Therefore, once we've
found an apartment we like but before we've signed a
contract, it's very important to check out several
angles.

The surroundings:
We recommend wandering around the neighborhood,
both during the day and at night, and to speak with
the neighbors and the co-op board (va'ad habayit in
Hebrew) to find out if there are any problems with the
building or its residents. Also, are there plans to
renovate the building? What are the municipality's
plans for the immediate surroundings? Are there cell
phone towers or high voltage power lines near the
apartment and/or the building? What public
institutions (schools, preschools, community centers,
playgrounds, libraries, houses of worship, shopping
centers, clinics, etc.) are nearby? Is there convenient
public transportation?
It is especially important to find out if construction is
planned for the immediate vicinity. Contact the local
Planning and Construction Committee, a fixed feature
of every local government, to gather this information.

The apartment:
The physical condition: It is important to check the
apartment's physical condition. We recommend that an
engineer do this to make sure there are no serious
construction flaws.
The state of planning: It is also important to check
that the building and apartment were built with all the
legal permits and there are no building code
violations. This can be ascertained by looking at the
building's file kept at the Local Planning and
Construction Committee. We recommend that an
assessor or engineer do the check. If there are
building code violations, the purchase agreement must
contain a written clause that clarifies the
understanding between the buyer and the seller about
who bears responsibility for redressing these
violations.

The legal standing:
It is important to ascertain that the apartment is registered to the seller in the relevant rolls at the Land Registration Office (commonly referred to as tabu in Israel), the Israel Land Authority, the housing company, and other similar sources. It is also critical to see if the seller's rights to the
apartment are in any way attached or mortgaged, and
if there are any other obligations vis-à-vis the sellers
rights to the apartment (such as liens, tenants' rights,
caution notes, etc.). This check is usually carried out
by the real estate lawyer representing you. Make sure
that, as part of the purchase agreement, the seller
commits to removing all obligations and attachments
related to the rights to the apartment, such that you
take over the property only after its rights are free and
clear of any third-party rights or obligations.

Purchase tax
Anyone purchasing an apartment is obligated to pay a
purchase tax. The difference between the purchase tax
for a buyer who owns only this property and the
purchase tax for a buyer who owns another apartment
is quite significant. Therefore, we recommend you
consult with your real estate lawyer to see what
purchase tax you may have to pay for buying this
apartment.

Mortgage:
If you intend to finance part of the payment for the
apartment with a mortgage loan, we recommend you
ask the mortgage bank you intend to borrow from to
preapprove you before you get to the contract stage.
By all means, compare the terms offered by the
various mortgage banks and choose the bank making
the offer most attractive to your own personal
circumstances. Furthermore, it is quite customary to
negotiate with the banks over the terms they offer,
and doing so can save you a significant amount of
money.
Important points in the purchase agreement:
The seller's declaration: It is important to incorporate
a seller declaration in which s/he declares that the
apartment and its systems are in good repair, that
there are no building code violations associated with
the apartment, and that there are no conflicting rights
and/or registrations associated with the property.
Transfer of ownership and property rights: It is
important that the document state that the apartment
must change hands empty and clear of people and
objects, with all systems fully functional and operating
as they did when the buyer saw them.

Payments:
It is important that the first payment be
held in trust until a caution note in your favor is
entered into the Land Registration Office and only then
handed over to the seller. Similarly, it is important
that the last payment be made only in return for
transferring ownership and property rights and taking
delivery of the keys, with the rights of the seller to the
apartment free and clear of any third-party rights or
obligations. It is important to leave a certain sum of
money in trust to ensure you receive all the approvals
the seller has to provide in order to register the
property rights in your name (the lawyer representing
you can advise you on how large a sum to deposit).
Registering the property rights in your name: It is
important the seller has a deadline by which s/he
must provide all relevant documents for you to
complete the process of registering the property rights
in your name.

Mortgage:
It is important to get the seller's
commitment to sign all relevant documents that the
mortgage bank will demand before granting you a
mortgage loan.

Article by Maya Zisser
source: www.mondaq.com/x/568198/real+estate/What+You+Need+To+Know+About+Buying+Your+First+Home

www.naijapropertiesonline.com

Check what it says about the above post

https://www.zuchanannetwork.com/

issokai but pls modify d post to suit Nigeria scenario nd expunge some content away

1. settle Omo onile
and the rest follows

K

Just buy d damn house and live in it, no time

akheen:
1. settle Omo onile

and the rest follows

l agree, Omonile providing lands since 1250 AD

This is one is heavy copy and paste. Abeg that's not Nigerian scenario.

Hmmm

Always visit www.engineerosaz..com to see latest prices of building materials, rough estimates of construction projects, current labour rates of construction workers, loads of other useful construction tips and to connect with a professional contractor.

Before you pay for a car, usually you allow a mechanic inspect its engine and other parts for defects and durability concerns. It is equally important that before you pay for a building especially a multistorey building, you involve a professional Structural Engineer/Builder to help you do a thorough inspection which should cover the following;

1. Test the strength and stability of the building. This is done by carrying out Integrity test on the structural components of the building from foundation to roof level to see if they meets the minimum structural requirement for buildings of that size, load and type.
2. Check the other functional requirements of the building by inspecting each member, one after other.
3. In conjunction with other core building professionals, inspect for consistencies with designs, check functionality of Heating, Ventilating and Air Conditioning (HVAC) System, Electrical services, plumbing systems, durabilty potentials of finishes, fittings, fixtures, etc.



You can contact your contractor of first choice to help with that;
Engr. Osaz' on (+234) 08167394799.

everything na copy and paste, no time to waste time.

Story

Ok

Current Price of Roofing Sheet in Nigeria.. See here >> https://www.nairaland.com/3364135/roofing-sheets-cost-various-types


See Samples of Roofing Tiles.. See here >> https://www.nairaland.com/3357472/collection-sample-stone-coated-roofing

Check Out Picture Of The Wood Work For The Stone Coated Roofing Tile >> https://www.nairaland.com/1806964/check-out-picture-wood-work

The rule of 'Ions' if your money doesn't end in ion, you are not ready

Tooooo Long to Read.

To own a home in Nigeria isn't a big deal provided you have a steady reasonable income.

Look for one decent rural area and buy a piece of land. When you have a land building it will be easier

PropertiesNaija:
Buying an apartment is usually the biggest purchase
of one's life, and for most of us it represents a
significant

Article by Maya Zisser
source: www.mondaq.com/x/568198/real+estate/What+You+Need+To+Know+About+Buying+Your+First+Home

www.naijapropertiesonline.com

.

You pick an Israeli article and can't sift it to the Nigerian scenario. Taken excerpts, develop yours and publish an article worth circulating.

Are we buying house in Israel or Nigeria?

Buy a plots @ 700k in Ibeju Lekki Or mowe 10 mins drive from Redemption Camp. If you buy 6plots you get 1 free. For more details check my profile or signature. Thanks

Booked

MODIFIED..

Buying an apartment is usually the biggest purchase of one's life, and for most of us it represents a significant financial outlay. Therefore, once we've found an apartment we like but before we've signed a contract, it's very important to check out several angles.

The surroundings:
We recommend wandering around the neighborhood, both during the day and at night, and to speak with the neighbors to find out if there are any problems with the building or its residents. There is actually a house on my street in Lagos, whose owner(s) die a year after purchase.Also, are there plans to renovate the building? What are the State and/or local town planning agency's plans for the immediate surroundings? Are there cell phone towers or high voltage power lines near the apartment and/or the building? What public institutions (schools, preschools, community centers, playgrounds, libraries, houses of worship, shopping centers, clinics, etc.) are nearby? Is there convenient public transportation? Like the master plans of Abuja and California municipalities were not designed to favour public transport. It is especially important to find out if construction is planned for the immediate vicinity. Contact the State's Planning and Construction agency or board.

The apartment:
The physical condition: It is important to check the apartment's physical condition. We recommend that an engineer do this to make sure there are no serious construction flaws. The state of planning: It is also important to check that the building and apartment were built with all the legal permits and there are no building code violations. This can be ascertained by looking at the building's file kept at the Local Planning and
Construction Board. For residents of Lagos, a visit to the Lands ministry would suffice. We recommend that an assessor or engineer do the check. If there are building code violations, the purchase agreement must contain a written clause that clarifies the understanding between the buyer and the seller about who bears responsibility for redressing theseviolations.

The legal standing:
It is important to ascertain that the apartment is registered to the seller in the relevant
rolls at the Land Registration Office and other similar sources. It is also critical to see if the seller's rights to the apartment are in any way attached or mortgaged, and if there are any other obligations vis-à-vis the sellers rights to the apartment (such as liens, tenants' rights, caution notes, etc.). This check is usually carried out by the real estate lawyer representing you. Make sure that, as part of the purchase agreement, the seller
commits to removing all obligations and attachments related to the rights to the apartment, such that you take over the property only after its rights are free and clear of any third-party rights or obligations.

Purchase tax:
Anyone purchasing an apartment is obligated to pay a purchase tax. The difference between the purchase tax for a buyer who owns only this property and the purchase tax for a buyer who owns another apartment is quite significant. In Nigeria, the VAT is 5% of the purchase price.

Mortgage:
If you intend to finance part of the payment for the apartment with a mortgage loan, we recommend you ask the mortgage bank you intend to borrow from to preapprove you before you get to the contract stage. By all means, compare the terms offered by the various mortgage banks and choose the bank making the offer most attractive to your own personal circumstances. Furthermore, it is quite customary to negotiate with the banks over the terms they offer, and doing so can save you a significant amount of money.

Important points in the purchase agreement:
The seller's declaration:
It is important to incorporate a seller declaration in which s/he declares that the apartment and its systems are in good repair, that there are no building code violations associated with the apartment, and that there are no conflicting rights and/or registrations associated with the property.

Transfer of ownership and property rights:
It is important that the document state that the apartment must change hands empty and clear of people and objects, with all systems fully functional and operating as they did when the buyer saw them.

Payments:
It is important that the first payment be held in trust until a caution note in your favor is
entered into the Land Registration Office and only then handed over to the seller. Similarly, it is important that the last payment be made only in return for transferring ownership and property rights and taking delivery of the keys, with the rights of the seller to the apartment free and clear of any third-party rights or obligations. It is important to leave a certain sum of money in trust to ensure you receive all the approvals the seller has to provide in order to register the property rights in your name (the lawyer representing you can advise you on how large a sum to deposit).

Registering the property rights in your name:
It is important the seller has a deadline by which s/he must provide all relevant documents for you to complete the process of registering the property rights in your name.

Mortgage:
It is important to get the seller's commitment to sign all relevant documents that the mortgage bank will demand before granting you a mortgage loan.

Edited it.. Thanks.

You can still check out a previous post on houses sold below the market value (distress sales)

www.nairaland.com/3652894/luxury-duplexes-sold-cheaply-lagos

fkj950ax:



What level of laziness is this.

You pick an Israeli article and can't sift it to the Nigerian scenario. Taken excerpts, develop yours and publish an article worth circulating.

With this, I doubt I'd use or recommend naja properties online for any property deal.

Haba.

Modified it. thanks.

angelTI:
Are we buying house in Israel or Nigeria?

Modified.. Thanks

henryhemon:
This is one is heavy copy and paste. Abeg that's not Nigerian scenario.

Modified.. thanks

PropertiesNaija:
Buying an apartment is usually the biggest purchase
of one's life, and for most of us it represents a
significant financial outlay. Therefore, once we've
found an apartment we like but before we've signed a
contract, it's very important to check out several
angles.

The surroundings:
We recommend wandering around the neighborhood,
both during the day and at night, and to speak with
the neighbors and the co-op board (va'ad habayit in
Hebrew) to find out if there are any problems with the
building or its residents. Also, are there plans to
renovate the building? What are the municipality's
plans for the immediate surroundings? Are there cell
phone towers or high voltage power lines near the
apartment and/or the building? What public
institutions (schools, preschools, community centers,
playgrounds, libraries, houses of worship, shopping
centers, clinics, etc.) are nearby? Is there convenient
public transportation?
It is especially important to find out if construction is
planned for the immediate vicinity. Contact the local
Planning and Construction Committee, a fixed feature
of every local government, to gather this information.

The apartment:
The physical condition: It is important to check the
apartment's physical condition. We recommend that an
engineer do this to make sure there are no serious
construction flaws.
The state of planning: It is also important to check
that the building and apartment were built with all the
legal permits and there are no building code
violations. This can be ascertained by looking at the
building's file kept at the Local Planning and
Construction Committee. We recommend that an
assessor or engineer do the check. If there are
building code violations, the purchase agreement must
contain a written clause that clarifies the
understanding between the buyer and the seller about
who bears responsibility for redressing these
violations.

The legal standing:
It is important to ascertain that the apartment is registered to the seller in the relevant rolls at the Land Registration Office (commonly referred to as tabu in Israel), the Israel Land Authority, the housing company, and other similar sources. It is also critical to see if the seller's rights to the
apartment are in any way attached or mortgaged, and
if there are any other obligations vis-à-vis the sellers
rights to the apartment (such as liens, tenants' rights,
caution notes, etc.). This check is usually carried out
by the real estate lawyer representing you. Make sure
that, as part of the purchase agreement, the seller
commits to removing all obligations and attachments
related to the rights to the apartment, such that you
take over the property only after its rights are free and
clear of any third-party rights or obligations.

Purchase tax
Anyone purchasing an apartment is obligated to pay a
purchase tax. The difference between the purchase tax
for a buyer who owns only this property and the
purchase tax for a buyer who owns another apartment
is quite significant. Therefore, we recommend you
consult with your real estate lawyer to see what
purchase tax you may have to pay for buying this
apartment.

Mortgage:
If you intend to finance part of the payment for the
apartment with a mortgage loan, we recommend you
ask the mortgage bank you intend to borrow from to
preapprove you before you get to the contract stage.
By all means, compare the terms offered by the
various mortgage banks and choose the bank making
the offer most attractive to your own personal
circumstances. Furthermore, it is quite customary to
negotiate with the banks over the terms they offer,
and doing so can save you a significant amount of
money.
Important points in the purchase agreement:
The seller's declaration: It is important to incorporate
a seller declaration in which s/he declares that the
apartment and its systems are in good repair, that
there are no building code violations associated with
the apartment, and that there are no conflicting rights
and/or registrations associated with the property.
Transfer of ownership and property rights: It is
important that the document state that the apartment
must change hands empty and clear of people and
objects, with all systems fully functional and operating
as they did when the buyer saw them.

Payments:
It is important that the first payment be
held in trust until a caution note in your favor is
entered into the Land Registration Office and only then
handed over to the seller. Similarly, it is important
that the last payment be made only in return for
transferring ownership and property rights and taking
delivery of the keys, with the rights of the seller to the
apartment free and clear of any third-party rights or
obligations. It is important to leave a certain sum of
money in trust to ensure you receive all the approvals
the seller has to provide in order to register the
property rights in your name (the lawyer representing
you can advise you on how large a sum to deposit).
Registering the property rights in your name: It is
important the seller has a deadline by which s/he
must provide all relevant documents for you to
complete the process of registering the property rights
in your name.

Mortgage:
It is important to get the seller's
commitment to sign all relevant documents that the
mortgage bank will demand before granting you a
mortgage loan.

Article by Maya Zisser
source: www.mondaq.com/x/568198/real+estate/What+You+Need+To+Know+About+Buying+Your+First+Home

www.naijapropertiesonline.com

U aren't talking about Nigeria, re u? Becos this doesn't apply in Nigeria.

ok

Thanks for your reviews.. it is highly appreciated..