So you want to purchase that land or property and its within your budget but you are afraid of dealing with the agents, property developers, mortgagors or omoniles in respect of getting:
1. A good deal financially within the budget?
2. Whether the land or property is free from government wahala or omonile wahala?
3. Whether the documents presented to you such as the survey plan or deed of assignment or better still the C/o are fake or government certified?
4. Whether the omoniles will still disturb you after you pay and you want to start building?
Well your problems are solved because i will handle it for you 100%. From Alausa down to the final signature transferring property to you. All you need to do is sit down, pick the land or property of your choice after negotiating with the agent or, probably visit it yourself to ascertain its location and desirability and leave the rest for me.
Things i will do immediately for you include:
1. If the documents are not corresponding with those in Alausa or the law, i will advise you promptly to abandon it.
2. If the property is Over Priced, i will either re-negotiate it to a reasonable standard Industry price or advise you to look else where. (Land boku for Lagos & Ogun)
3. If the omonile’s are being too worrisome, i will either handle them accordingly or advise you to abandon it.
4. I will track the current owners to heaven to ascertain who truely owns the property and whether they have the capacity and legal right to sell.
In short i will help you purchase your property with ease and most especially stand 100% against any legal wahala that might arise in future either from an adverse claimant who wants to claim possession against your property and lay claim to it or any corresponding document showing otherwise.
If the property has even the slightest defect whatsoever after doing a search, i will abandon the whole thing and you don’t have to pay a dime to me because case closed. You move on.
Generally these are the ways i conduct my Searches and Research on any Property before i give you a go ahead to pay:
FOR LAND AND PROPERTIES
1. Personal Investigation and Inspection of the Land or Property Physically and Value its worth. (Free)
2. Engage in Price Negotiations and Agency Commission Negotiations (Free)
3. Search the land Registry to see if any of the documents correlate e.g the C/o (Pay the required government Search fees)
4. Search the Courts to see if there is any outstanding litigation or Injunction on that property (Pay the required Court fees)
5. Obtain Certified True copies of the Documents From Alausa to show whether it truely exists or not ( Pay the required Certified true copies fees stamped and delievered)
6. Search at the Surveyor General's Office for the red copy of the Survey plan if it actually exists there (Pay the fees for charting and search)
7. Check at Alausa / Surveyor Generals office whether the property is under government acquisition or not and pay for charting fees
8. Vetting of the Contract of sale (This Contract for sale is an agreement stating that the buyer is interested in the property pending the final result of the investigations of the Property and i will go through it line by line to know whether it favours you or not)
9. Meeting the Traditional Family (OMO NILE) to determine the history of the property, Knowing the requisite community Development fees and drafting a ratification agreement i necessary. (free but the omoniles are usually settled to make you enjoy that place quietly)
10. Drafting the deed of assignment and stamping it for assessment (Negotiable)
FOR MORTGAGES ( MOWE/IBAFO/ OFADA/LEKKI):
1.Getting the information from the Real Estate Developers Directly whether the Traditional Family that sold the lands to them is free from defect or encumberance
2. Getting the information from the Real Estate Developer whether the land has a Global C/O and if not, what documents do they have to show that there is a pending application before the Land Registry that they intend to get a Global C/O
3. Investigate whether the land is free from Government Acquisition or not and whether it has been gazetted or not.
4. Obtain information about the amenities Promised such as water, borehole, roads, security and light and any other aforesaid promises made
5. Check whether your mortgage payment would be steady or not and if there are plans to increase your mortgage payment along the way.
6. Check the sale of Contract Form and see if it corresponds with what they have preached and marketed to you and vet the deed of assignment and survey plan before you sign.
All jobs and searches will be done before a fee is paid except Statutory fees that should be paid to the government or omonile’s in advance! In short i get paid after a job is done stage by stage and not before.
So relax, liaise and negotiate with your favourite agent and when your done, give me a shout out to take it up from there!
Final warning: Never ever Rush a property sale even though the Agents are on your neck. Its your life and children’s life your toying with if not done properly and patiently!
Cheers!!!
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- The cycles associated with properties markets
and interest rates have a direct effect on a your ability to make a profit. High prices and high interest rates mean you're less likely to produce positive cash flow on a property. Also, if a property is purchased at market value at the height of a seller's market, your exit strategy could be delayed as you wait for the property to appreciate. You should consider your exit strategy for a property before buying it, even if the property is to be held for long-term appreciation. - When the market shifts and buying opportunities arise, astute investors find ways to acquire bargain properties that will provide cash flow as rentals and appreciate when the market turns around. Bargains are found by searching bank-owned, or REO (real estate owned), and HUD properties, purchasing properties through a short sales, buying from wholesalers, probate properties, sellers facing divorce and bankruptcy, and properties for sale by owner.
- You should know your investment strategy, such as buy and hold, lease-option or fix and flip, before purchasing a rental property. Properties purchased for long-term appreciation should be held in a separate company from properties that will be sold in under a year to avoid issues with the IRS. Run-down houses in declining neighborhoods might be cheap to acquire, but tenant stability is often an issue. Look for investment properties in solid neighborhoods with low crime rates and neighbors who show pride of ownership.