Trying to buy land from the UK or US? Here’s how to go about it
Although the Nigerian real estate industry is currently expanding slowly, if the proper players play their cards well, it might experience considerable growth.
Nigeria has had housing issues despite a growing population and pricey flats, with a housing deficit of 16 million to 22 million units.
It is reasonable to expect Nigerians to use more economical and cost-effective construction techniques in the near future given the country’s fast growing urban population and the creative spirit that is sweeping the nation. Landowners in metropolitan centers will be king since these homes won’t be constructed in the air.
This has led a lot of Nigerians, both inside and outside the nation, to attempt and buy as many land parcels as they can. Unfortunately, Nigerians residing overseas are more susceptible to frauds carried out by relatives, friends, and agents because of the distance. Because of it, many of them have been completely discouraged from buying land.
This does not have to be the case, though. Although there are many ways for a Nigerian in the diaspora to buy land in Nigeria, including through family and friends or through traveling down to the country, buying directly through a real estate firm is the safest choice.
To prevent fraud, however, due diligence must still be carried out, and the good news is that this can be achieved without having to travel to the country. Here are the measures a Nigerian in the diaspora should take before purchasing land in Nigeria.
- Request photos, videos, and the land’s coordinates, then use Google Maps to verify that the advertised landmarks are actually located around the estate. This allows you to determine whether you are purchasing in a prime location with a high rate of return or in a location that will never appreciate in your lifetime.
- Get a trusted friend or family member to carry out a physical inspection on your behalf.
- Request the gazette number if the property is being marketed as government excised land.
- Conduct a search at the State’s Land Registry to determine who the true owner of the land is, as well as any encumbrances on the property, such as government acquisition, mortgages, or any type of leasehold.
With clients in several countries worldwide, Danbel Properties and Investments Limited takes pride in our high level of integrity and transparency.
Contact US today to buy government excised land in Lagos starting with only N1,000,000. Click the link below to send us a Whatsapp Message
