Land is very valuable everywhere, and it is a good asset and investment to buy. However, most people in their quest to own land fall into the hands of scammers and fraudsters. In this post, we’ll be checking out the idea of how to buy genuine, valuable, and profitable land in Nigeria.
How to Buy Genuine, Valuable, and Profitable Land in Nigeria
There are ways to know which lands on sale are genuine and profitable. Once, you are informed of an available or profitable land, you should take the actions presented below:
1. You should ensure the real estate agent, or land agent, the land owner, are very trustworthy. You can easily know this by digging deep into their past deals.
2. It’s not news that most lands are overvalued and priced. Therefore, you should go to land and location with a real estate evaluator and a lawyer. They are the ones who would guide you well on the real worth of the land.
3. A land doesn’t have to be in a rich area or urban area to be profitable or valuable. In fact, some lands in the rural areas are more valuable than the ones in urban areas.
4. You should also go to the site with a real estate evaluator to know how valuable that land is. However, a land located close to a busy road or along a busy road, in a secure area, less than 10 kilometers to an urban area, can be adjudged to be valuable.
Once there are high chances of urbanization in the area, a market establishment, or can be used as a filling station, factory, or for other businesses, then it’s a good and valuable location.
So, you should know what to check out for all these. Sometimes getting a larger land in a rural area along the road and a busy place could be more profitable.
5. You should also ensure to verify the authenticity of the land traditionally. You should ask about the original owners of the land traditionally. You can go on your own independent fact-finding mission with the locals living close to the land.
You verify if the land is genuine, and whether it is for sale. You also verify if it is not in dispute–this one is very important.
6. Depending on what you want to build there, before buying the land, you can take along a surveyor and land examiner to examine the land. They would be the one to analyze the land and tell you if it’s suitable for the type of thing you want I build.
7. When you must have verified all these, and there is no issue with the land, you set about measuring the land. After confirming the measurement, you pay. Ensure a cash and purchase receipt duly written and signed is given to you.
7. Your lawyer should prepare the deeds of assignment. The seller should read well and sign. The deeds of assignment should be three copies–one for you, one for your lawyer, and one for the seller.
8. You should ask the seller to hand over the certificate of occupancy to you, or you set about acquiring it if he doesn’t have. It is important because it will indicate to the government that the land belongs to you.
9. The surveyor after surveying, and putting beacons/boundary markings on the land, he should submit to you the surveying report of the land. It should have your lawyer’s seal as well.
10. You are advised to construct a fence around you land and put a gate. This is important in case of places where there are cases of land grabbing.
After all of these, your land is secure and you can use it or resell it anytime. Why people are advised to buy along a busy road in a rural area close to market or near to a town is that the land will appreciate fast. You would find out that the land you bought has made over 100% gain in 4 years. Only few assets can do this.
What are the Necessary Documents to Acquire or Have after Land Purchase?
1. Deeds of Assignment
2. Certificate of Occupancy
3. Surveying Reports or Document
4. Purchase Cash Receipt
This post has examined how to buy genuine, valuable, and profitable land in Nigeria. You should ensure you follow all these steps to get the right result. By this way, you shouldn’t be afraid when you buy land.