Are you are a diaspora Nigerian wanting to do real estate investment in Nigeria? Then, read this carefully.
A few years ago, I met a
prospect, online, living in Europe. In less than a week I realized he
was a very red hot prospect. ready investor.
When I say very red hot, I mean he was itching to transfer money to own the property in question.
He made a huge mistake that is making me write the story: He sent a family member to verify the land and the company.
He told me she's the mother of his son, though they'll be getting married soonest.
That singular act of entrusting the verification process to her, made him lose his hard earned money, because she diverted his attention to another property and convinced him to pay, which he did.
It was when he was doing foundation (after doing dwarf fence) that the entire drama started, and he ended up losing the land.
I got to know about it because, he came back to me with a heavy heart. But there was nothing I could do.
Listen Diaspora investor, most of your relatives you send to do verification for you, see it as an opportunity to make money.
They subtly convince you to invest in a place they will make money, not minding the consequences on the long run.
They are only after what they'll make at the moment, since they see it as a rare opportunity from you.
The lady told my prospect not to invest with the company I was promoting, because the land in question had no C of O.
Many ignorant real estate investors mistake C of O as the only title and legal document a piece of land must have before they can invest, this is wrong my friend.
There are a number of titled documents available to you to make your decisions. All you need do is to ensure the documents are genuine.
In Nigeria, there are different types of Land titles/documents that can be used to sell/buy land.
Here are some Land titles/documents:
- Governor's consent (about the best)
- Certificate of occupancy (C OF O)
- Court judgment
- Gazzette
- Survey Plan
- Excision Document
- Grant of Probate
- Letter of Administration
- Right of Occupancy
The titles mentioned above are good documents that can suffice as legal documents for Land transactions.
Let me shook you: you can lose your land, even if it has C of O.
Yes! you heard me.
One major reason is when another party comes up with Governor's Consent.
Another reason could be when it's proven that the documents used to get the C of O were wrong or fake, or the seller of the Land is not the rightful owner.
The title of land does not guarantee the genuinity of the Land, you need to ask the right questions and get the right answers, make your research and findings too.
If you're based abroad or live in Nigeria, and want to buy land in Nigeria, I want you to understand that C of O is not the only title of Land.
About 85% percent of people that make verifications on behalf of their people based abroad, ask the wrong questions, which lead to wrong investment decisions, most times.
If you want to make good real estate investment decisions, first of all, verify the credibility of the real estate company/seller making you the offer.
Better still, speak to an expert and experienced real estate consultant to guide you to make the best decisions.
At Seashell Homes & Properties, we give professional real estate advisory services that guarantees secure investment and higher return on investment, in no time.
You can schedule a free consultation with us on:
09136406994, 09061399469
seashellpropertiesng@gmail.com
We remain your Best Real Estate
Consultants.
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