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Weekly Real Estate Article

Topic: Do not buy Real Estate Until you know these 4 Most Essential Documents! (No 3 is the most crucial)

When it comes to property acquisition, documentation is the most essential thing.

Countless people have fell victim to buying properties without genuine documents.

Of recent, I got a request from someone who intends to sell his property. Upon my request as to document he has on the property, I found out that he only has family receipt, no deed of assignment, no survey,no contract of sale. I got bewildered and didn't know what to say.

No doubt, this is a typical occurrence of issues that leads to land dispute among land owners, because it's highly possible to see someone who will claim such land even with false documents, but the person who bought legitimately and failed to get the necessary documents afterwards will lose in the long run.

On this particularly, I had to inform the owner of such land that I won’t market it, in as much I can't buy it myself.

Documents that are important when buying any property include the following:

(1.) Receipt: There should be a receipt of purchase between the buyer and seller.

(2.) Survey: A piece of survey showing the coordinates of the land should be made available.

(3.) Deed of Assignment: This is a legal documentation that transfer ownership from the seller to the buyer.

(4.) Contract of sale: This is a document that states some basic terms and conditions between the two parties.

These four(4) are the most essential documents you must get when you are buying your next property

Make sure you have all of these to avoid stories that touch in the nearest future.

For property acquisitions in Lagos, Ogun and Abuja;
Kindly call me here: 0810 087 2979

AbdulLateef Shoyinka
Founder, Moonlat Consult