HOW TO AVOID BEING SCAMMED WHEN BUYING LANDED PROPERTY..

Buying a landed property is no doubt a lucrative investment venture,but just like any other business,buying a property has its own inherent risks and challenges. Falling prey to scams is one of the challenges and risk that property investors are constantly faced with and this has led to a lot of buyers losing their hard earned monies in the process.
Landed property is a very worthwhile investment to be involved in and this is for the major reason that it always appreciate,does not get spoil or outdated and above all, provides a sound edge against inflation.

Due to the fact that buying of landed properties is a juicy business to invest in,there are some unscrupulous elements that derives joy in selling fake landed properties to unsuspecting members of the public.
It is better to know how to avoid falling victim into the hands of such dubious people in your quest to invest in real estate. The following tips should assist you as a buyer to escape being scammed .

CONDUCT TITLE SEARCH ON THE PROPERTY
It is very important that you do a thorough and proper search on any property that you have the intention of acquiring before making payment for it. If it is a property that has a Certificate of Occupancy (C of O),you should conduct the search at the ministry of lands & Town Planning and survey directorate as this will help you know the true owner of the land and in the long run avoiding a scam. But if the land is located in the rural community,then you will need to conduct a search by meeting with the leaders of that community who knows the families, their lands and boundaries. You can further conduct your search by asking some elderly people in the community the owner(s) of a particular land.

BE CAUTIOUS!
It is always advisable to be extra careful when buying a landed property. Trust your instinct and if anything seems fishy,avoid it. Scammers offering landed property for sale at a ridiculously low prices prey on the greed of some buyers. If a deal sounds too good to be true,it must probably is and should be avoided.

NEVER BE IN A HURRY
The next step that is also important and helpful to take is to pretend that you are not in a hurry or haste to own the property. Once the scammers notice any desperate actions or moves on your part,they get excited and now dive in for the spoil. Avoid showing land speculators how much that you will love to own the piece of land no matter how desperate you are in need of that piece of property.

AVOID PLAYING THE LONE RANGER;ENGAGE PROFESSIONALS
The waters of real estate market could be damned murky at times and you definitely need the help of experts in the industry to guide you through. Real estate professionals, Lawyers etc have invaluable experience in land transaction and their advice can go a long way in helping a buyer not to fall prey to scammers. Employ the services of these professionals to assist you verify all title documents and ensure that your best interests are represented. The cost of employing the services of these professionals should not hinder you from engaging them at the onset of your desire to buy a piece of landed property as this will end up helping you to buy authentic property and save you the headache of running after one fake land speculator for your money or land.Let your acquisition of a property not end up like the proverbial saying: ?Penny wise,pounds foolish?.

AVOID PAYING IN CASH
When paying for a property,avoid paying in cash as they are difficult to track. Make use of bank transfers and post dated cheques instead. This makes the payment easier to track in case the transaction go away.

                                                                                                                   Be wise enough.

HOW TO LEGALIZE YOUR LAND TRANSACTION (The IMPORTANCE OF A GOVERNOR’S CONSENT)

The first person who buys a piece of land that has never been occupied by anyone before and is not under government acquisition, is entitled to get a C of O on that land.
What this means is that, if you buy a piece of land from someone who already has a C of O on that land, you cannot get another C of O.
Similarly, if you buy a piece of land within an estate that already has a C of O, you still cannot get a C of O for your portion of land.

In simple words, there cannot be two Certificates of Occupancy on a piece of land
So, If you can’t get a C of O on your land, then what document can you get?
Answer: A Governor’s Consent.

Why Do You Need a Governor’s Consent?

Section 22 of the Land use act 1978 says:
“It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor, to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained”
What this statement means is that, if someone has been granted a C of O on a piece of land and he decides to sell it off to someone else, that transaction remains illegal in the eyes of the government until the new owner gets a governor’s consent which then makes the transaction legal.
In other words, if you buy a piece of land and do not get a governor’s consent, the government does not know that you own the land yet and if anything happens to you, the person who sold the land can reclaim it because in the eyes of the government, he still has rights to the land.
Even though you have a deed of assignment from the former land owner, it is advisable that you get a governor’s consent so that your mind can fully be at rest.
Owing to the fact that we are in a country where it is difficult to get things that are supposed to be easy, getting a governor’s consent which should take just 30 days may not be a walk in the park.
But then, with the following steps you can obtain a governor’s consent;

STEPS TO OBTAINING A GOVERNOR'S CONSENT ARE:

1. Obtain a Land Form1C and ensure that it is completed and signed by the parties involved in the transaction (buyer and seller).
This will serve as application to process a governor’s consent.
If you bought the land from an omo-onile then it must be signed by the omo-onile family, if you bought from a real estate company, you should send an application to the company.
Note however, that a governor’s consent will easily be processed on a land that either has a gazette or a C of O .
If the piece of land does not have a perfect title; it may be difficult to get a consent and even if you do, it does not perfect the title.

2. Ensure you collect a current tax clearance certificate from the seller, and you should have yours as well.
If you do not have this, an assessment will be raised for you immediately.

3. Submit these with the deed of assignment and the survey plan of the property attached to it and pay the required fees.

4. It is advisable you get a professional to guide you through these steps...

  Please if you find value with this, please share with friends & family membes.

Brightel Properties Ltd.

Our contacts numbers are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29

THINKING ABOUT INVESTMENT OPPORTUNITIES GOING ON IN IBEJU-LEKKI!!!

THINKING ABOUT INVESTMENT OPPORTUNITIES GOING ON IN IBEJU-LEKKI!!!
BECAUSE IN THE NEXT TWO YEARS FROM NOW, YOU WOULD WISH YOU HAD A PROPERTY ALONG THE LEKKI FREE TRADE ZONE IN IBEJU LEKKI...

The good News is that this axis is going to be the next DUBAI OF AFRICA.
These Properties in the nearest future would be more expensive than LEKKI PHASE 1 & 2, Victoria Island and Banana Island..

This is the right time for you to position yourself for the Future..

NOTE: Buy when others are buying & also sell when others are selling because if you are wanting to look what the future of this area will look like, you will end up buying from those who bought on a promo price & buy then you don't have the choice not to buy x10 of the price them get the properties or you will end up becoming story teller..

HOW TO GET START & BUILD UP YOUR OWN INVESTMENT IN THE NEW LAGOS...
 
Contact Brightel Properties  Ltd for more details on inspection booking on all of our available properties and promo prices..

+2347034258290 (Whatsapp)
+2348171590399
+2349024952291
+2348157200529..

"THE MOST IMPORTANT DOCUMENT IN A LAND TRANSACTION."

And please don't forget to share this with friends and family members to also have the knowledge about it..

The biggest mistake you’ll ever make in any land transaction would be; paying for the land without receiving any proof of transfer of ownership…

Land transactions unlike what most persons think, do not end when you pay for land and collect a receipt.
At the end of a proper land transaction, there should be a document that shows a transfer of ownership from one party to another.

This document is called a “deed of assignment”.
A deed of assignment is one of the most important documents you must possess at the end of a land transaction.

Without a deed of assignment, it becomes easy to defraud you because you have no proof that the land in question has been transferred to you by the owner.

As a matter of fact, if you invest in land through a real estate company, part of the document you get at the end of the transaction is a “deed of assignment”.

On the other hand, if you buy land from an Omo-onile family, you should get a lawyer to prepare a deed of assignment which you will take to the family and ensure that all parties involved sign the deed.
What exactly is this deed of assignment?

“A deed of Assignment is an agreement between the owner of a Land and a Buyer of that Land indicating that the owner has transferred all his rights, his title, his interest and ownership of that land to a new person (the buyer)”

The deed contains relevant information for a real estate transaction. It states the date of transfer of the land. The deed also gives a specific description of the property that is included in the transfer of ownership.
When the Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction..

Brightel Properties Ltd.
Our contacts numbers are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29
With Us Your Property Is Secured...

DO YOU KNOW THE STATUS OF THE LAND YOU ARE ABOUT TO INVEST IN?

Before you ever think of investing in any lands or property in Nigeria, the most important information you must find out is the status of the land.

It baffles me that people just pay for lands the same way they pay for groceries. Yes, you might be lucky and not fall into the wrong hands but if you don’t know the right thing, it’s only a matter of time before you get burnt..

Let me explain the three major classes of lands in Nigeria and i will point out those that are safe to invest in and the ones you should stay away from completely...
Lands are be divided into 3 part & they are:

• The Free Lands
• The Committed Lands
• The Lands Under global/general acquisition.

THE FREE LANDS: These are Lands that are 100% free for investment and is easy to perfects it title documents.

THE COMMITTED LANDS: These are lands that has be committed/map out to government & it not advisable to invest your money in such lands because if you do, just consider to lose that money.

THE LAND UNDER GLOBAL/GENERAL ACQUISITION: The Land states to be under the acquisition of government is free to invest on but if only the land is not committed or map out to government...

This is an advice from me to you, always do research in any landed properties before making payment because buying of lands is not like buying of groceries...

If you find value on this write up please do share with friends and family members.
WITH BRIGHTEL PROPERTIES,
your investment is secured...

Our Contacts are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29

What is LAND BANKING?

I just felt this should add to our knowledge and equip our Real Estate understanding.
The name "Land Banking" implies almost exactly what it is. Rather than putting cash into a savings account (where it will earn a maximum of 1% interest every year) or the stock market (which has become increasingly unpredictable in recent years), some entrepreneurs have taken an alternative approach by acquiring LAND and in doing so, they have chosen to park their cash in a tangible, fixed asset – one that cannot be broken, stolen or destroyed.

Vacant land gets ignored by most new investors because let's be honest – it just doesn't sound that exciting. Unfortunately, this causes most people to overlook a lot of the advantages that land has over traditional real estate investments (e.g. – houses, apartment buildings, commercial properties, etc.). Unlike most residential and commercial buildings, land costs virtually nothing to own… no utility payments, no tenant problems, no termite infestations, no leaky faucets, no broken toilets, no mortgage payments. A building could even gut fire and if without insurance, it's a total loss for the owner. A vacant land would be impossible for destruction or loss, but rather appreciates on value month after month.

Think about it… you can buy a piece of vacant land today, walk away from it for 10 years and when you come back, nothing will have changed. Can you think of a safer investment?

And think about the economics of land… this is a resource with a supply that is always going down (after all, they aren't making any more of it) and a demand that is constantly on the rise. Given the value proposition that comes with owning land, I often find myself scratching my head and wondering “Why aren't more investors involved in Lands Banking??”

Please if you find value on this share with friends and family members....

@Brightel Properties Ltd...

We Promise to give out the best..

Our Contacts are:
+234-7034-2582-90 (Whatsapp)
+234-8171-5903-99
+234-9024-9522-91
+234-8157-2005-29

HOW TO VERIFY IF A LAND IS GENUINE IN NIGERIA...

Prevention they say is better than cure. You should verify a land before purchase and not buy a fraudulent land and spend hundreds of thousands to save your investment. When buying a new home or landed property in Nigeria it is essential you get your facts right and be well-informed on the nitty-gritty involved before you cash on the investment. This write-up highlights what you must look out for during your land verification especially in Nigerian cities like Lekki, Ajah, Ikoyi, Ibeju-Lekki, Port Harcourt, Abuja etc. It deals specifically with land transactions between a reputable real estate company/agents and individuals or group of individuals.

There are quite a lot of things to look out for and a number of verification you need to do when you want to acquire a home or land property especially in a very competitive terrain like Lagos, Port Harcourt and Abuja.

Land and property are one of the greatest investments of Man and Real estate is one of the most potent means of fraudulence. With the high rate of real estate scam and the hassles of potential land transaction hazards popularly called Land Grabbers, it is advisable to do land transactions through a reputable and reliable real estate company and you must have a good land surveyor/estate agent/lawyer who would help you help you do a proper land verification so as to ensure a problem-free transaction.

These documents are the most important aspect of your real estate transactions and there really no land verification you will be doing without verifying the authenticity of the documents used for the transaction which can range from receipts of transaction, survey plan, deed of assignment, contract of sale, layout plan, power of attorney to certificate of occupancy And if there happens to be a flaw, it could spell doom to that land transaction. You might as well be losing your hard earned money even before the real land transaction begins because you did not run a land verification.

In real estate , doing due diligence (investigation), probing the validity and authenticity of property is a must before you roll out the cash, so you don’t go crying blue murder! when the deed is done. These days victims of fake lands and fake papers have become more than the land in question because they failed to do their due diligence as regards land verification.

Real estate scam artist usually throw a bait in form of a mouth-watering offers and then watch their unsuspecting victims fall for it. There is no follow-up or due process involved from the supposed victim before investing in the land or property in question.

Having said that, there are some guidelines to follow judiciously that would help you with your verification. Here are a few things you should always do when considering to buy any landed property in Nigeria:

1) Know the company: Visit the real estate company’s office you are dealing with or visit their website for their Terms & Conditions (also known as FAQ). This will give you useful insights into their activities and fore-knowledge on the site you are interested in.

2) Schedule Inspection: There is need to see the site in question physically and not base your knowledge of the site on hearsay. Invariably you should book an appointment and visit the site.

3) Get the land’s Coordinates: It is also essential you go to the site with a plan in hand; it is not an adventure or sight-seeing except you don’t have genuine plans of acquiring the property. Hence, when visiting the site, please go with a Land Surveyor who will use a GPS to pick the coordinates of the site and cross check with relevant State Authorities as to the claims of the developer.

4) Cross check the coordinates: Ask for a copy of the survey plan and let the Surveyor help you cross check it with the coordinates he must have picked when you visited the site together.

5) Verify the land’s title documents: Ask for the Excision file number (since they said it has been opened and verify the position of the Excision processing from relevant State authorities.

6) Try to get the going prices of similar landed properties in the area and compare to make your choice..

@BRIGHTEL PROPERTIES we've you covered..