7 Things To Look Out For When Buying a Land in Lagos
Many Nigerians both at home or in the diaspora buy property in Lagos without looking out for the major things. Buying land in Lagos should never be in a rush and out of compulsion.
Please always take your time whenever you intend to buy land in Lagos. Don’t let anyone fool you. There are 7 things you should look out for when buying land in Lagos. Don’t overlook them at all. It will guide you through.
SEE THIS: 7 THINGS TO LOOK OUT FOR WHEN BUYING A HOME IN LAGOS
ATTENTION: Are you looking for land to buy on Lagos Island from Ajah to Epe Lagos? Please send a message below.
7 Things To Look Out For When Buying a Land in Lagos
- AFFORDABILITY:
Can you afford the land you want to buy? Have seen people who bought land and after a few months they bounce back and ask for a refund. And when you ask for a refund you can’t get 100% of the money back.
So when buying land in Lagos. Calculate your cost when. Thanks to the real estate developer that allows installment payment. Leverage on the installment plan but bear in mind there are additional charges after three months.
- LOCATION:
Your budget will determine the location. Also, the reason for buying the land will also determine the location. You can’t buy a location for commercial when it is dedicated to residential and vice versa.
So consider the location you want. Some locations are for the short and long term. Don’t look to buy and build in a location that is for long-term investment.
- TITLE DOCUMENT:
This is essential to look out for. In real estate, it is not only the C of O title document we have. Most people only know of C of O because it is popular. We have other title documents as well and please find out before buying.
These are the 5 important documents to have after full payment of land in Lagos
- DUE DILIGENCE AND COMPANY TRACK RECORD:
This is also important. To avoid being scammed in real estate please do your diligence and check for the company’s track record. Most people do due diligence but do not check for the company’s track record.
Check if the title document is free from any acquisition and also check previous estate allocation and review they might have in the past.
- ESTATE FEATURES AND FACILITIES:
When you are buying from a developer, please ask or request for estate features and facilities that will be provided. These are the 5 Basic Infrastructures any real estate developer must provide for you.
- ESTATE FAQ:
FAQ in real estate means Frequently Asked Questions. Please read and understand the estate FAQ very well. Don’t be in a haste to sign the FAQ without full understanding. Once you sign that it is.
- 3D VIDEO/BROCHURE:
Not all real estate developer has a 3D video or brochure for their estate. If they have, please request one and go through it. If they didn’t have one, ask for the estate layout and study it well.
Finally, look for a reliable real estate expert who will guide and put you through. Don’t be in haste and please find someone who will assist you when you are not there.
ATTENTION: I and my team have helped over 50 real estate investors this year. We can also help you and assist you in investing in real estate and also help with your documentation. Please send a message to us below to help you.
Those are the major 7 things you should look out for when buying land in Lagos. Those points are very important and do not joke with them at all.
For more details and any inquiries about real estate investment in Lagos, please call or WhatsApp Peter at +234 901 509 4850 or click on the WhatsApp button on your screen.
