Benefits of Buying and Holding property in Lagos

Lagos is emerging as a great avenue for property investment. There is a wide variety of residential and commercial property for sale in Nigeria and land for sale in Nigeria available through realtors in the country.

Buying and holding properties is a great way to invest in real estate for beginners as well as experienced investors. As the property in Lagos is high in demand, more and more people are looking to reap benefits from it. When you buy property in Lagos for investment, you need to keep a long-term investing strategy in mind. Buying and holding real estate property is ideal for:

• Investor interested in building wealth through a portfolio of rental properties
• Landlords willing to get hands on income with their rental property
• Investor willing to invest in apartment buildings, rent them out and get regular cash flow
• Many owner occupants also buy duplex or triplex, so they can live in same unit and get rental income therefrom

Tips to buy property in Lagos

One should hire a reliable lawyer having years of experience in the real estate industry. There are many fraudulent activities involved in the real estate market. Real estate is a huge investment and sometimes, it may cost you a fortune. Hence, it is wise to seek professional guidance from a lawyer while looking for land for sale in Lagos for investment.

Real estate is a huge investment, however it provide best of the return than all other investments. In order to invest in real estate industry, one should get as much as information from all resources such as internet, brokers, consultants, local dealers, and books.

Securing funds to avail real estate property or lands for sale in Nigeria is an essential aspect of the investment. You must start securing fund even before exploring the properties. It is not so difficult to find good investment avenues. However, it is advised to invest as per your budget. It is important to keep yourself updated with the latest developments in the fields. One should meet real estate agents and industry leaders to make right decisions.

Thus, it is advised to get as much information as you can and seek help from professional property consultants and reliable lawyers having years of experience in industry to make profitable investment in the real estate market in Lagos.

Tips and Considerations for Buying Residential Property in Lagos

Lagos is one of the most attractive destinations for investing your money in property. Especially, in the last few decades, there has been upsurge in the number of people investing in residential and commercial property in Lagos.

There is huge variety of investment properties available in the Lagos, so you need to decide the type of property you need for investment. You can investment in a property to be used as home stay or you can invest in commercial services.

It is good to look for a Professional Real Estate Consultant in Lagos to find investment worthy properties. Not all properties are able to reap same benefits. They make the whole buying process, a whole lot easy and hassle free for the buyers.  Most of the people nowadays prefer to hire property consultants for sale and purchase of property.

Besides, Property Consultants in Lagos also provides guidance for legal formalities involved in the process. It is always good to seek advice from a professional lawyer before investing in the property. It is important to know you are buying property from the owner of the property. In many cases, fraudulent individual try to sell other’s property, so you need to be diligent while buying property as it is a huge investment. One must carefully read all the documents and get it inspected and evaluated by a qualified and reputed lawyer.

One must always get the property papers checked through renowned and reputed lawyer. If there are any issues or doubts in title of the property, one must avoid buying it. A lawyer helps you in checking the documents to find if the property is free from any issues or not. One must physically visit the land to inspect it and must no rely on other’s opinions. Once you are satisfied with the property, you should negotiate on the prices. Property consultants in Lagos also helps you in negotiating for the best prices on the property.

Many people prefer to hire independence valuation services to know the fair market value of the property. It may help you in negotiating on the pieces. When the offer is accepted by the seller, the next step to complete the documentation and legal procedures for obtaining the title of the property. The main documents involved in the property buying process are the contract of sale, the receipt, and the Deed of Assignment. Once all the documentation is complete, the buyer becomes the owner of the property. It is necessary to get all the documents with requisite government authority to get the Governor’s consent of the transaction, so as to get the title of the property. It is advised to look for Professional Real Estate Consultants in Lagos for buying residential and commercial property in Lagos at the bet prices.

Tips and Considerations for Buying Residential Property in Lagos

Buying a land or building their own home is a dream of every Nigerian. However, it is very exciting yet daunting task. Property Real Consultants in Lagos can help you in finding the right property to match your needs and budget. Here are some tips for buying property in Lagos:

• Buying a property is a big decision and requires huge financial commitment in the long term. It is important to decide on a budget and location that suits your purpose and needs.
• Next step is to hire a competent lawyer as well as a Professional Real Estate Consultant in Lagos to seek right advice as well as assistance in all the formalities related to buying properties in Lagos.
• A Professional Real Estate Consultant in Lagos is the best person to guide you in choosing the right property that matches your criteria. They create a shortlist of properties, so you can make a better choice out of it.
• When you find the property you are interested to buy, it is important to assure that the person you are dealing with is the owners of the property. There are many cases where fraudulent individuals try to sell that property that they do now own. It is always good to seek advice from a reputed lawyer as they know the right questions to ask and examine the appropriate documentation to ensure that the property is free from any issues.
• When lawyer confirms that land is free from any issues, one should visit the land physically to inspect it. You can also get a site visitation with a registered surveyor who will look at the survey plans and advise on the property as well.
• When the buyer is satisfied with the property, sellers negotiate on the prices to get property at the best prices. It is a good idea to get an independent valuation of the property to know if the selling prices represent fair market value of the property. Property Consultants in Lagos help you in getting the best deal in the property.
• Once the offer is accepted by the seller, the next stage is drafting and completing all documentation. The three main documents included in the process are – the contract of sale, the receipt, and the Deed of Assignment. Once all the documentation and legal procedures are complete, the buyer becomes the owner of the property and can take possession
• Once the buyer becomes owner and has taken the physical possession of the property, they need to file all the necessary documents with the appropriate government authority to get the Governor’s consent of the transaction. Once Governor’s consent is obtained a Certificate of Occupancy is issued, and the transaction is complete and the buyer becomes authorised owner of the property.

Benefits & Tips for Buying Investment Property in Nigeria

As the real estate market in Nigeria has flourished tremendously in the recent years, more and more people are looking to buy property in Nigeria for residential as well as commercial purposes. Real estate is one of the most lucrative industries for investors as it assures higher returns than all other avenues.

Real estate market is real money spinner. There is a diverse investment opportunity in land for sale in Nigeria, both commercial and residential real estate, so there is something for every discerning buyer willing to buy property in Nigeria. Unlike other investment avenues, where rate of return is controlled by third parties, real estate investments are controlled by the investor themselves. You may not control changes in the market, but you still have control over other aspects.

Real estate companies play a vital role in buying and selling properties. They provide adequate assistance to property buyers looking for investing in land for sale in Lagos. They provide assistance to both individuals and corporate organisations willing to buy property. When you are buying property in Nigeria, following considerations may help you in going through purchase process:

• When you buy property in Lagos or in any other part of Nigeria, it is very important to verify the title of the property, so as to assure there is no fraudulent or encumbrance on the property. You can do it on your own by verifying it through Lands Bureau or you can seek help from professionals for the verification of Title.
• When you are searching land for sale in Lagos, it is important to consider your needs and the sources of finance to acquire it. You need consider aspects of location, home type and finance and lot more.
• When you find the property of your interest, it is essential to request the owner for the copy of the subsisting title or registration details of the property for a title search at the Lagos State Lands Bureau.
• It is also important to consider the development permit while buying property in Lagos. While evaluating the development permit, one should consider factors such asland use zoning, height restrictions the allowable number of units, car parking requirements etc.
• Once you have examined the documents, one should assure that their payment goes through bank clearing. Once you sign the deed of assignment, the assignee should commence process for getting title of the property at the Lagos State Lands Bureau.