PROCEDURES TOWARDS AQUIRING THE BEST & RIGHT PROPERTY IN LAGOS NIGERIA
STEPS AND HINTS TO ACQUIRE A GENUINE PROPERTY IN LAGOS
Lots of ugly stories have been told on the course of acquiring properties in the city of Lagos. There are a lot of relative negative speculations constraining prospective and aspiring home owners.
HERE ARE THE VITAL STEPS TO CONSIDER IN ACQUIRING A GENUINE PROPERTY IN LAGOS NIGERIA.
- Know what you want/definiteness of purpose: Napoleon Hill. Identify definiteness of purpose as his first 17 (Seventeen) principles of success and define it as the starting point of all achievement. Often time, most people don’t take cognizant of what they really want before engaging into scouting for properties. Some others on the other hand, depend on lifestyle and personalized ideas of their friends, peers, relatives etc while others follow the trend of environment where they are:
ESSENTIAL PRIOR ASSIGNMENT YOU MUST OUTLINE AND CONSIDER
- BUDGET: Cash budget and income strength; these simply means how much you budgeted to spend to purchase as property without affecting other pressing need.
- MORTGAGE: Property can be successfully purchase via mortgage. Before venturing into mortgage, please consult your financial institution to evaluate financial staus.
- PROXIMITY: Due to traffic situation in most cities which Lagos is not exception and other road constraints, proximity to your working place must be considered in toto.
- NUMBER OF OCCUPANTS: Before purchasing a property, it will be a wise step to critically study and take accurate statistic of possible number of your wards; this will propel you to understand number of rooms and other facilities like car space, green area etc. That will go in pari passu with life style and number of occupants.
(2). ENGAGE AN ESTATE AGENT
Always do a background check on the agent you are engaging to scout for a property. Endeavor to get up to four different properties that satisfy at least 60% or 100% of the No 1: requirement.
(3). ENGAGE A PROPERTY LAWYER, ESTATE SURVEYOR AND AN ACCOUNTANT IF NECCESARY
As soon as you have satisfactorily completed No2: processes; it is mandatory that you should collect from the seller or his representative the following and hand them over to the lawyer and surveyor: Registered copies of deed of assignment /deed of sublease agreement/power of attorney e.t.c (Registered title document of the property, preferably Certificate of Occupancy or Governors Consent etc) Representative or seller should also make handy registered survey plan and approved building plan.
(3A) JOBS EXPECTED FROM A PROPERTY LAWYER INCLUDE BUT NOT LIMITED TO THE FOLLOWING:
- Meeting with the estate developer or the representative
- Preparation of offer acceptance letter on behalf of the buyer
- Clear interpretation of equivocal legal terms in the agreement
- Charting of perfected document to ascertain their actual status of the property, for instance, if it is encumbered, if there is mortgage registered on it, also to determine the right name of ownership e.t.c
- The lawyer should apply for certify true copy of the title document for the buyer.
- Comprehensive ground check, legal advice should also be carried out by a lawyer to avert any possible manipulation.
(3B) ESSENTIAL RESPONSIBILITY OF ESTATE SURVEYOR INCLUDES BUT NOT LIMITED TO THE FOLLOWING:
- Surveyor must read the GPS coordinates to ascertain it accuracy with the survey plan and the location of the property, to avoid flying coordinate form other location.
- Proper lodgement of survey record copy must be ensured by surveyor.
- Registration of new survey plan in the name of the purchaser (new buyer) should be carried out by the estate surveyor.
(3C) ROLE OF THE ACCOUNTANT
Role of accountant should not be underestimated if the buyer considered option of obtaining property through mortgage facility. Accountant will play a vital role to ensure that interest rate of the bank is not by any chance inflicted. It is their responsibility to carry out all documentation and financial advice during the course of securing the property in view for mortgage.
Trust this brilliant intellectual write-up will satisfy your curiosity and pave a smooth way towards acquiring a home for you and your loves ones this season.
Think of a comfortable home! Think of quality finishing!! Think of quality home fittings/ facilities!!! And do well to remember GREENWIDE PROPERTIES. for further enquiry please send us a mail @ greenwidestate@gmail.com also feel free to call our office (08186078801)
