Land Buying Etiquette In Nigeria

Some land buyers try to outsmart their real estate agent by reneging on the real estate commission they are suppose to pay to the agent after the transaction is completed.

Do not be like them.

Yes, the transaction may have been concluded and you have secured your land purchase. But don't forget to remunerate those estate agents who worked hard to help you get the best deal.

As the Lord Jesus said, "the worker is deserving of his wages".

Therefore pay the real estate agents involved in the transaction the full amount of the estate agent commission.

Another thing to remember is this . . . do not try to save money by writing the purchase agreement yourself or using a quack to do so.

Engage the services of a real estate attorney when drawing up the real estate contract. It will save you a lot of trouble.

One more thing.

Draw up a solid real estate contract or agreement using an attorney even if the seller is your friend, relative, or trusted acquaintance. This is called due diligence.

This is not about whether you trust your friend or relative or not. It's about doing what is right.

Don't let emotions cloud your sense of judgment . . . your sense of right and wrong.

Get the right contract drawn up and properly signed by the parties concerned. It's the right thing to do.

#4 Tips on How to Secure Your Land Investment

The tips below show us how to secure your land after successful purchase in Nigeria especially Lagos where there happened to be many land disputes here and there.

1.      After buying land, one of the first things you can quickly do is to fence it round to signify that possession has been taken. If the land is already fenced round, good for you.

2.      A second must-do is to start processing your documents immediately with the land registry of the Lagos state government. This process officially transfers the title from the previous owner to you, the new owner.

The sad fact is that a lot of land owners do not do this. And this eventually creates ownership title debate in the future that may swing the law courts against you in the event of a dispute with the seller's children or extended family members.

So, my advice is . . . officially transfer ownership to yourself by registering the title change officially with the Lagos state government.

Sure, this will cost you money. But it will secure your land investment.

3.      A third way of buying land and securing it is to build a small gate house or a set-back boys quarters and getting someone to live within the premises of the property.

This is especially useful when you buy an investment property you do not plan to develop for a long period or a good number of years.

The person residing in the property will become your 'eyes and ears', keeping you informed of events around the vicinity of your land purchase area.

Guess what.

You don't need to spend a dime on salary for this person. Simply look for a trustworthy poor fellow who already lives around the neighborhood and offer to allow him stay in the one or two room gate house or BQ free of charge.

You know what?

He will be more than grateful to send you regular updates in exchange for free accommodation.

This is a true win-win situation.

Bottom line.

4.      Use an experienced real estate agent when buying land in Lagos Nigeria. And use the win-win strategies above to secure your land purchase investment.

Contact us if you want to buy land or completed buildings in Lagos Nigeria. You will be glad you did.