09/02/2023
🏠FAQs for property (Land)first time buyers
Everyone wants to invest in real estate or buy real estate, but do you know what questions seasoned investors and prospective buyers like yourself should be asking?
So that you may take the appropriate action and make your real estate investment journey easier, I'm here to help.
Before investing your money in the place, you should consider the following queries.
Location: The location of the property you are purchasing can make or break your investment journey because the viability of the area will have an impact on your long-term return.
Any issues on the Land? You should be aware of any encumbrances on the property, such as government acquisition or omo-onile wahala. You see, these two groups of people have the power to quickly cause you to lose your hard-earned money. You need a professional's guidance to avoid this, which is why.
What other neighborhoods, schools, or establishments are within a 3–10 km radius of the property you're considering purchasing? The collection of properties, organizations, or businesses in your area will ultimately determine the growth and return on your investment.
Can I sell my land again? Yes, but you'll need the terms and procedures of the business you're buying from to complete transaction and ownership transfer.
*Do the buildings I can erect on the land I purchased have any restrictions?* Yes! Furthermore, this is related to the designs that your developer has created, such as a bungalow, duplex, terrace, or apartment building.
Do I have to pay my deposit and spread payment right away? Yes! There are many of them available without a formal purchase, so acquiring land doesn't necessarily mean giving up your daily food. There are alternatives of 3months, 6months, and 12months, which in some cases would provide you the advantage of buying at a lower price.
What do I receive in exchange for the land?
invoice or payment receipt
a purchase agreement
survey plan copy
Assignment Deed
Allocation letter (after payment completion)
*NB: Plot allocation: After payment is complete, each customer will receive a physical allocation of plots in batches.*
Thank you for your time, hope you got value?
Omolara Ayinde