Welcome to the second part of the 14 Pro tips for buying land in Nigeria. We have covered 6 already in the previous blog post. If you missed it, click here to read it now.
Here is the continuation of the posts. Enjoy!
7. Get a Builder to Counsel You Before Choosing a Site
It’s wise to get a builder before you pick a site. Your developer might think about how a home can be intended to utilize the space, situated to exploit perspectives and light, and more strategic things like where to put the carport. Furthermore, proficient builders and developers can call attention to common issues, for example, expensive land prep challenges, that you probably shouldn’t take on.
8. Get Comprehensive Title Deeds Coverage
One of the main ways to purchase land is to guarantee that you are insured with a thorough title protection inclusion. There are various degrees of inclusion and certifications that you should have for land title protection strategy. For one, it is genuinely essential and checks for liens and exactness on the property record; though to get the records may seem a bit expensive, it will save you from issues such as property line debates. Purchasing land is a huge venture, so it simply appears to be legit to pick the better inclusion for your security.
9. Be Patient to Become a Land Investor
Suppose you anticipate purchasing land as a venture, i.e, for investment purposes. In that case, it’s ideal for observing an excellent arrangement and purchasing land that is less expensive than it ought to be, so you can either hold it for long-term appreciation or sell it for easy gain. By and large, a significant chunk of time must pass to sell land, so you must show restraint before you can acquire from it. Becoming a land investor takes time, strategy, and patience—the best land investors, have a large chunk of money for other uses and a great deal of persistence.
10. Get Favorable Agreement by Working with a Real estate Professional
Cost/Price is just one of numerous significant things in a real estate buying arrangement. We see that there are other higher priorities than the price tag all the time. Make a point to work with a capable land agency or land lawyer to draft the arrangement and follow the latest laws. Contact us at Piedras Properties to assist you in buying lands without issues.
11. Be Prepared to Put essentially 30% Down Payment on Servicing the Land
Getting loans to buy land can be tricky, as you can’t determine how soon a land or property will appreciate. Nonetheless, you should be ready to put in extra cash to carry out specific actions on your land, like perimeter fencing and other documentation. So an extra source of cash outside of the purchasing fee of the land is advised for a buyer to have.
12. Be careful of Flood Plains, Mudslides, and Land Erosions
It would help if you considered the layout of the land and any potential hazards that could exist in the future. Check if your land is in the floodplain because having a low-elevation property can become tricky when it rains and storms. If you are in a flood-prone region, make sure you can secure flood insurance. Is your land on a slope? If so, when adverse weather approaches and brings the rain, you could experience mudslides or land erosion depending on your soil composition. As a land buyer, you should assess the land for all seasons and all scenarios.
13. Actually, take a look at the Zoning of the Land Before Buying
Sometimes when lands are being sold, there are situations when the seller does not have the complete documents that cover the full land. Making sure you get all the necessary documents is paramount. Documents that cover the land both in the zones/areas where it is located and also all necessary government documents. You do not want a situation where the land you purchase is said to belong to someone else. To forestall this issue, consistently guarantee you look at the drafting of the land before getting it.
14. Work with a Real Estate Agent Who Specializes in Land Purchases
Purchasing land is like purchasing a fixed construction, and however, it has its disparities. Ensure the realtor you’re working with has to experience trading land just as arranging land bargains. Things they can assist you with are things like drafting and honest assessment.
Bottom Line
Purchasing land resembles gaining your piece of earth. Many individuals like to purchase land than purchasing a physical property since they need to modify their own home or work as per their taste. Utilize the above master ways and tips to buy land so that you settle with ease and avoid some problems and traps.
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