₦airaland Forum

SEGLIZ:
thanks op.

You are welcome

We went to a site in Ikate, Lekki recently and on this land, the developer built three sweet 4-bedroom duplexes with parking space on 40mx20m (800 square meters) of land. So I began to ask myself, why do some clients always insist on buying 1 full plot? When buying land, must you buy one full plot? I don’t think so. What should determine the size of the land you should buy is the purpose of the land and your budget.
In most cases, when investing in land for the first time, you don’t have a lot of money. If you have N10m and the cost of 1 plot in the location you desire is N10m, should you buy it? Is it not better to buy a half plot and use the remaining N5m to take possession of the land by building your foundation, wall fence and getting your necessary land documents e.g. deed, survey, architectural design etc.? Then as soon as you get some extra money, you can start the building. Some people have missed the opportunity of owning land in good areas because of their insistence on buying a full plot.
Last year, I spent too much time searching for land for a client who had a low budget and wanted a full plot in a developed area in Ajah/Sangotedo axis. He wanted to build a bungalow. A half plot would have been okay!
#land #realestate #investing

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Carry your Surveyor along in your land acquisition process.

filcast:
Hello House,
I need guidance on how to get titles for my land for the purpose of using it as collateral to obtain loan from the bank. The land is located in my village.

Your village is in what state sir? You need to get a Certificate of Occupancy or a Governor's Consent. But the first step is to get a Registered Survey Plan. Once you have that, go to the Ministry of Lands in the state and find out the steps for acquiring title. Your Registered Surveyor and Lawyer should be able to advise you.

JaySterling:
I know there is a Lagos Lands registry

Now I wanna find out if there is a federal lands registry ?

Federal Housing Authority (FHA)

zobay:
Hello house,

There is a property in Lagos a friend wants to buy. The owner is dead without a will and left behind 4 children, one of the children is the one selling his piece to my friend.

The piece was given to him by the owner(his parent) word of mouth and confirmed also by the eldest child who the documents of the whole property is with.

Questions: How would they separate the document?
What documents should my friend ask for from the seller?
Do they need to go imo onile that sold it initially?

Thank you

Let them do things the proper way. In this case, the owner is said to have died intestate (without a will). They need a good lawyer who will interview the entire family, understand the whole situation and assist them in securing a Letter of Administration from the Probate Registry. This will enable them share / sell the properties without problems in the future.

Hec1:
Greetings all, please I will really appreciate if someone could explain what it means when a land has as Global C/ O Processing & Registered Survey. I plan to buy a piece of land somewhere in Lagos and the real estate agent told me that this is the title of the property.

It means that the land has no existing title. Carry out Charting on the land to find out it's status. You need to know if the land is under government acquisition or not before you take any step forward.

In most cases, buying a property usually requires a large capital outlay. Real estate is not cheap in Nigeria, especially in Lagos and Abuja. These days, real estate firms give their customers the option of paying a certain percentage of the total cost of the property and spreading the balance over a short period of time by making monthly payments. This works well for people, especially salary earners because they have a consistent monthly income.

Another way of purchasing a property by paying only a percentage of the cost is through a mortgage. According to Wikipedia, a mortgage loan or, simply, mortgage is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. So, for example, if you want to purchase a property worth N25 million, the mortgage bank may ask you to pay N10 million and they will pay the rest and the property is yours. You will repay the mortgage bank the N15 million with interest over a period of time – often 10 to 20 years.

The good thing about a mortgage facility is that you will take possession of the property immediately and the repayment period is usually long.

Repaying a mortgage is better than paying for rent because if you pay rent in a property for 15 years, after the 15 years, the property still belongs to the landlord! But if you are repaying a mortgage with repayment tenure of 15 years, after the 15 years, the property is yours.

The federal government gives mortgage loans via Federal Mortgage Bank of Nigeria (FMBN) and from Lagos State government through Lagos Building Investment Company Plc (LBIC). You can also access mortgage loans from commercial and mortgage banks all over the country.


www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

A lot of times when we receive calls from potential clients, the only question they ask is “How much for Registered Survey in….?”.

It is understandable that, considering the cost of survey in Lagos and Ogun, most of them want to know how much a Registered Survey will cost but the truth is it is not the most important question. The important question they should ask is “Surveyor, how do I get a registered survey for my land?” And the reason is that NOT all lands can be registered. If your land falls under an unregularizable/unratifiable government acquisition or within a government committed area, it cannot be registered.

Ideally, you are supposed to check the status of your land before purchase. This will let you know if you can do a registered survey or not and you would also know if you can get a genuine land title from the government. With this information, you can decide if you should purchase the land or not.
Don’t ask about the cost of a registered survey first; ask about the status of your land.

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Lands for sale with good title. Call / WhatsApp 08091779311

S/N PROPERTY LOCATION TITLE COST(N)
1 6 acres of land Kobape, Abeokuta FREEHOLD 700k/acre
2 Plots of land Arepo, Ogun C of O 11m
3 Plots of land Alagbado C of O 6m/plot
4 Plots of Land Off Atican Beach Rd, Okun Ajah Gazette 10m/plot
5 Plots of Land Close to Lakowe Golf Course Global C of O 7m/plot
6 Plots of Land CMD Road, behind Novare Mall Sangotedo Global C of O 15m/plot
7 Plots of Land Abijo, Ibeju-Lekki Global C of O 15m/plot
8 Plots of Land Bogije, Ibeju-Lekki Governor’s Consent 11m/plot
9 Plots of Land Otolu, Ibeju-Lekki Excision 4m/plot
10 Plots of Land Ogidan, Sangotedo Gazette 18m/plot
11 Plots of Land Opp. Abraham Adesanya, Ajah Excision 18m/plot
12 Plots of Land Eleko, Ibeju-Lekki Governor’s Consent 12m/plot
13 Plots of Land Siriwon, Ibeju-Lekki Gazette 5m/plot


www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Get professional advice today!

Buying land in Lagos can be tricky. It is very important to involve someone very knowledgeable. Consult your registered land surveyor and your lawyer before buying land. They are the two most important professionals you will need at the beginning.

The surveyor will check if your land is situated in a location that confirms with physical planning rules (e.g. not too close to high tension) and he will also ensure you don’t buy a land that is under government acquisition or committed by the government for a future purpose. And the lawyer will help you investigate the root of ownership and title of the land. Please note that they are two different professionals. Don’t ask a lawyer to do surveyor’s job and don’t ask a surveyor to do the job of a lawyer. This is very important.

Asking for their professional advice is always far cheaper than making a mistake. Is it wise to have a budget of N5m for land and not be willing to pay a surveyor and lawyer few thousands to help greatly minimize your chances of making a bad investment decision?

Use wisdom.


www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Invest wisely

Anyone know any investment better than real estate?

One of the great benefits of real estate investment is its long-lasting nature.

Last month, I was driving past the neighbourhood where I grew up and I noticed something; a majority of the buildings that I used to see growing up (most of them were built before I was born) were still there! These buildings are rental properties. Most of them have 4 flats. Some have 6 and a few of them have 8. So something struck me. It dawned on me that the owners of these buildings have been collecting rent for more than 35 years! There are very few investments that yield this kind of return.

All the owners’ had to do was to buy or build at least one house. One decision that has paid dividends for many years. Pause for a moment and let this sink in.

If you want to invest in real estate, the time is now.

Real estate will pay you for many years

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

This year we have had 2 clients who needed a signed Deed of Gift but didn’t have one.

The father of our first client was a politician. He had a big parcel of land somewhere in Alimosho but he died unexpectedly and didn’t leave any land document with his lawyer or any of his children. The good thing is that the children are not fighting each other for the land. They are all based abroad and want to sell it. The problem is there’s no document showing how they got possession of the land. Their dad did not bequeath the land to anyone.

The mother of our second client had about 2 plots somewhere in Eputu, Ibeju-Lekki. She had a deed of gift which bequeathed the land to her daughter (our client) but the deed was never signed. Our client lives abroad and is contemplating selling the land but the unsigned deed of gift is an issue.

Now, what is a deed of gift? According to Wikipedia, a deed of gift is a SIGNED legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such as a gift of materials – from one person or institution to another.

In order words, a deed of gift helps you to transfer your property to anyone.

Our two clients won’t have any issues taking full possession of their land if a properly prepared deed of gift was done by their parents.

If you have any property you want to bequeath to your loved ones in the event of your demise, get a properly signed deed of gift prepared by your lawyer now. Life is unpredictable.

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Choose wisely. Always use professionals

cenaman:
Is that why Trans-amadi mosque was demolished?

This is the reason a lot of properties facing the road are demolished.

Right of Way and Setback knowledge are important to avoid building illegal structures (structures that don’t conform with urban planning rules) .

According to the Ministry of Physical Planning website, a setback is the distance to be observed between the building line and property boundary, water bodies, right of ways of infrastructure facilities and utilities.

Below are the setbacks for the different right of ways.

i. Federal High way – 90m right of way 45 m from the centre to the property line.

ii. State High way-60 m Right of way 30 m from the centre to the property line.

iii. Local Road (State) -24m, 18m,15m,12m (12m, 9m, 7.5m, 6m right of ways respectively from the centre to the property line as applicable)

iv. Building line of property and the outer edge of NNPC oil pipeline – 15m

Required Setback from Different Water Bodies

Ocean / sea – 150m

Lagoon – 50m

River – 15m

Seasonal – 15m

Gorges (New and Built-up areas) – 10m

Distance to Rail Line

Railway line – 21m

Unmanned railway crossing – 60m.

Required Setback from Different Power Lines

132KV Powerline – 15m

330KV Powerline – 25m

11/33KV – 5.5m

It is your duty to ensure that you leave the proper setback for your property. Ask your surveyor to leave the correct setback when measuring and marking out your land. It may lead to your land not being the size you paid for but you will rest assured your property is out of the governments right of way and safe from future demolition.

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

A Professional Land Surveyor renders a highly technical service in compliance with applicable laws, regulations, codes and court decisions set forth by the Surveyors Council of Nigeria (SURCON).

Because of the special skills and complexities involved in surveying land, the government of Nigeria via its various agencies limits the practice to only those surveyors duly registered by the Surveyors Council of Nigeria (SURCON).

In order to protect the public from inferior land surveying, there are Minimum Standards for all types of Land Surveys. These standards describe recommended procedures for a survey and the minimum information to be provided to the client.

In choosing a Land Surveyor please follow these TIPS!

Consider the qualifications of a Professional Land Surveyor. He is supposed to display his Registration Certificate in his office, please look out for it. Ensure that the Surveyor will be capable of meeting the requirements of the proposed survey.

In selecting a professional Land Surveyor check to make sure that on the plans he submits to you are his name, SURCON registration number, address, current date, live signature and seal. There is no reasonable reason that can be given for there to be any change.

Insist on doing business in his office. This way you know where to find him should you need him again in future. When in doubt or not satisfied contact the Surveyors Council of Nigeria or Nigerian Institution of Surveyors.

Remember, the survey plan of your property is one of the most important documents you will need regarding your property. It shows and confirms your ownership over the land. Make sure that it is made to the highest standards.

Remember It Pays To Use A Professional & Qualified Land Surveyor. It’s in your best interest.

To verify a Surveyor is registered, send an email to Surveyors Council of Nigeria at surconmails@yahoo.com or to Nigerian Institution of Surveyors at info@nisngr.com

Land Banking is one of the secrets of the wealthy

If you are doing Land Banking, please do it with wisdom. Land Banking is not just about buying a big parcel of land, waiting for some years for the value to appreciate and selling it.

The success of land banking depends a lot on what you do during the “waiting period”. During this period, you need to monitor your land. Asking someone living in the area to monitor it for you is not enough. Some of these people connive with land grabbers. So, you have to ensure you or someone you trust visits it often. It’s your investment. It’s your money. Don’t be like the man that left his 2 hectares land in Ijoko (Ogun state) for over 10 years and couldn’t find it when he needed some money and wanted to sell it. The area where his land was located had changed drastically and most of the landmarks were gone. Sometimes it is unbelievable the amount of change that can happen in a developing area in 5-10 years.

Another good reason why you have to visit your land often is because of encroachers, land grabbers and trespassers. By law, if your land is occupied by a trespasser for more than 12 years and you don’t sue, the trespasser can take LEGAL possession of your land.


www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

When acquiring a property, it is always important to know if the property has a Certificate of Occupancy (C of O) or some other title. But it is more important to know if the C of O is defective.
it is not uncommon for errors to be made during land title preparation.
One thing you must do before acquiring a property with Certificate of Occupancy (C of O) is to check the survey plan.
The most common error on a survey plan is wrong coordinates. This error usually results from typos or wrong GPS parameters. And it goes undetected because it is often impossible to know if the coordinate of a location is wrong by visual inspection. The implication of wrong coordinates on a survey plan is that the survey plan describes a property in another geographic location not the intended location. For example the property is in Surulere but when the survey is plotted/charted, the property falls in Agege.
Errors in a C of O (or other land titles) can be corrected with a Deed of Rectifaction. However, before you decide to acquire a property with defective title, it is important to know the requirements for rectification so you can decide if it’s a process you want to go through.

REQUIREMENTS FOR RECTIFICATION OF TITLE
Application letter addressed to the Permanent Secretary, Lands Bureau.
2Nos. Deed of Rectification
2 Nos. Sunprint Survey plan for survey rectification
Newspaper publication (half page) in a widely circulated
Means of identification (National ID, Driving License, Voter’s Card or data page of valid International passport
Sworn affidavit with photograph attached
Receipts evidencing payment of rectification charges:
1.5% aggregate broken down into;
Rectification Fee @ 0.75% of assessed value,
Stamp duty @ 0.375% of assessed value and
Registration @ 0.375% of assessed value



www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

The land is FREE from government acquisition

FOR SALE
2 ACRES OF LAND AT ALAGBADO, OFF AIT ROAD. GOOD FOR FACTORY OR SCHOOL. HAS SOME EXISTING STRUCTURES.
N90M ASKING.

Rubicon67:
What is your rate?

Depends on the deliverables and the size of the area to be covered

If you dream of having a street in Lagos state named after you, this is for you.
Street naming is handled by local government offices in the state.
Below are the requirements

1)Photocopy of Land Receipt
2)Photocopy of Certificate of Occupancy
3)Photocopy of Survey Plan
4)Original Letter from Baale in Council/Land Owners/Letter of Allocation
5)Photocopy of current tax clearance
6)2 Passport Photographs
7)Application Letter to the Executive Chairman

Twitter @drewe20, @oticsurveys
instagram @oticsurveys


There are fees to be paid. They are:
1)Application Form
2)Inspection Fees
3)Approval fees
4)Street Naming Committee Fees
5)Street Plate
6)Annual Renewal

The fees are not the same for all local governments. For example in Eti-Osa LGA, the Street Plate alone is N100,000.

How can we help you?

Drone surveys are good for capturing aerial views of properties and construction sites. The difference between a Drone Survey and Drone Photography is that in a Drone Survey, the dimensions of all the features on the photographs are to scale and correct. This means you can measure the length, area and volumes of features in the photographs. They are not just photographs.

www.oticsurveys.com/blog

Follow us
Twitter @oticsurveys
Instagram @oticsurveys

Always verify before purchase

So it is your responsibility to weigh your options and decide