To avoid stories that touches the heart when making your next land purchase, we’ve deem it fit to call your attentions to the following 10 basic guidelines most land buyers often ignore and as a result they fall victims of dubious land deals.
As it is every family dreams to own a house so also it is the dreams of every evil doers to get preys that will fall victims of their shady land deals.
Therefore, follow me as I take you by the hand to show you why you need to shine your eyes when dealing in landed properties.
1. Your Real estate investment is as strong as your real estate link i.e a consultant/agent. It is advisable never to deal in real estate without a trusted link.
2. Before paying for that land make proper investigation. Investigate if the land you’re paying for is not under dispute between the families that owns the land or under government interest.
3. If there is anything not clear to you during negotiation please ask questions. In real estate deals you don’t know what you don’t know.
4. Never pay directly to a real estate consultant/agent rather pay directly to the land owners or to the real estate company involved. Please call the deal off if you’re not allowed to do this.
5. Involve the service of a good lawyer. Lawyers spot loopholes quicker when it comes to land deals.
6. Don’t be in a rush to close a deal. Always take your time to be sure you’re dealing with the right people.
7. Go on site inspection before buying a land and watch out for inscriptions so as to be sure you’re not paying for someone else property.
8. When making payments, make sure you documents the whole process. Take pictures with the people involve, writes down your agreements, do video recordings and collect receipts.
9. After payment of the land, survey your land immediately and start processing all necessary papers.
10. Be a wise investor. Before buying a land, be on the lookout for government policies and economic indicators because they contribute to capital appreciations of landed properties. Invest in properties/land at locations closed to fringe of development and wait for capital appreciation for good ROI.
In your real estate investment journey, you’ll need these guidelines in other to make the right decision when making a land purchase.
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If You're a Man Above 25 Years this Article is For You