₦airaland Forum

[i]No Realtor Is Qualified To Sell Any Property To You If They Can’t Answer These 7 Questions[/I]

Before purchasing land through any realtor, it’s important that you ask brilliant questions.

The more intelligent questions you are able to ask, the harder it becomes for anyone to sell fake properties to you.

This is because like a pack of cards, they will stagger and fall once they know that you are knowledgeable about the real estate market.

To ensure you make no real estate investment mistakes you will live to regret, here are the top 7 questions you should ask before purchasing any land anywhere in Nigeria:


1 — How reliable is the realtor and real estate company?

Last week, I told you that an unreliable realtor is the worst person to patronize because all they care about is their sales commission.

If the realtor is not reliable, chances are, they will sell a land in dispute to you just to get their commission. Investigate the realtor and the real estate company.

If you are lucky to work with a good realtor, he or she will save you the stress of investigating the company because they must have done that.

2 — What’s the land title?

The title of the land is what determines how authentic the property is. Properties with C of O or Governor’s Consent are generally more expensive and trusted.

Just because a property has only deed of assignment and registered survey plan as its title (not really a title) doesn’t mean that the land is not genuine. With these two documents, you are a few steps to getting your C of O.


3 — What’s the actual size of a plot?

Different states and regions use different land sizes and measurements as their standard land size.

I’ve bought land with measurements like 464sqm, 500sqm and even 600sqm.

The land size will help you to know how much of a good deal the land is. It can also help you know if it will fit into what you desire to do with the piece of land.


4 — What is the exact location of the land?

Knowing where the land is located is important. Ask for the name of the community, the nearby landmarks and everything in between.

You can run a background check on the community to know if it’s a place you would like to build your wealth in. Otherwise, you can sell off the land and not develop it.


5 — Are there hidden fees I need to know?

Ask questions o.

A few months back, I bought a native land somewhere (name withheld). Nobody told me that there are other fees to pay until I was done making payment. When it was time to take possession, that was when I started hearing about other charges almost more than half of what I paid.

Funnily enough, most real estate companies are never upfront about other charges. The only extra charge you should prepare for is called the development fee.

The development fee is charged based on the current value of building materials. Most developers don’t charge for it immediately.

6 — How close is the land to the main road?

The closer the land is to the road, the faster it will appreciate. If you are lucky to find one, jump on it immediately. A typical example is the land of 3.9M in Karshi (opposite Ruby Estate) Abuja I spoke to you about. That’s one of the best deals you can find online.

If for any reason the land is not close to the main road, the real estate company must be willing to pave a pathway to make it easily accessible.

7 — What is the land use plan (land zoning) of this estate?

Governors and the FCT Minister will continue to demolish houses, schools and recreational centers built in locations outside their zoning plans.

Before you purchase any land, ask what the land use plan of the estate or region is.

It’s a risk to build a residential house in an estate designated for agricultural use. If the land is designated for industrial use, resist the temptation to build your residential house there. Failure to listen, then be ready to lose your investment.


Whether you want to get a property in Imo State, Rivers State or Delta State
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COMRADES, nice one from the op

Realtors can lie eh. Don't believe any of them totally o.

A "5 minutes from the airport" land is yet to be developed after 10 years.

Continue..pls don't steal pls don't steal pls don't steal.. it's what my spirit is telling someone dis morning.u are preparing to do dat plan ..pls don't do it

Noted

All of them are bunch of thieves

Very educative. I appreciate.

Na big advice be this ooo

AlphaLandLord:
[i]No Realtor Is Qualified To Sell Any Property To You If They Can’t Answer These 7 Questions[/I]

how about going to the ministry of land and urban planning to know the land use plan for the estate or landed property you want to buy

Ndi Developers hope say una dey hear

Omoapena:
All of them are bunch of thieves

It's just business... Which one is thief again?

Unless there's some other funny practice we're unaware of?

Food now not house
Survival

I'm still at number 1. I'm wondering, when you ask the realtor number 1 question, what do you expect the realtor's answer to be?

Good points!

Make una no go buy scam or buy land in a swampy area!

Noted

Hidden fees is very important,imagine buying a government land for it's security but the government is asking you to be paying certain amount every 5 years ? .

correctguy101:
It's just business... Which one is thief again?

Unless there's some other funny practice we're unaware of?

They are thieves, they won't give you every information you need and they won't let you involve your personal lawyer for verifications.

Infact, they will lure you to buy and pay on installment or outrightly only to find out they aren't fully in possession of the land, it is now safer to even approach genuine omo onile for land than buying from this real estate people. Except if you have money to buy a house from them, but you see land, it's not advisable.

Na only God dey save person for the Nigeria of today. If e never happen to you, you go think say you smart until it's too late...

If you are in Abuja, buy land from my plug and have peace

Land is buy and build.. 10 years later still inside bush

Ayobeck:
Continue..pls don't steal pls don't steal pls don't steal.. it's what my spirit is telling someone dis morning.u are preparing to do dat plan ..pls don't do it

What if ur vision came late nko?

Get bar first but for now I don't want to be tempt.

Your number 7 point isn't sacrosanct

Even if you go to lands and housing, they will tell you bullshi5

Later the following year the governor will tell you it's water way or circular road etc

Any sagamu area agent here?

NUMBER 8: No litigation on it....very important.

6ixT8:
What if ur vision came late nko?

It doesn't vision NVR always come late.God see all heart.