7 TYPES OF LANDS YOU MUST NOT BUY IN NIGERIA
It will shock you to know that, many property buyers don’t know the status of what they are buying, they just buy. I tell you, particularly in Lagos and It’s environ, you don’t just buy.
I will be REVEALING to you in this article the 7 TYPES OF LANDS YOU MUST NOT BUY IN NIGERIA.
1. UNTITLED LAND – To prove the authencity of the land you want to buy, certain title or documents must be requested… Ask this question…WHAT TITLE DOES IT HAVE?…you should hear something like…
FREEHOLD, Survey and Deed
Gazette, Excision, Consent, C of O etc
2. AGRIC LAND – This type of land is basically for Agric purposes, meaning it can’t be used for residential…We have many of such in Ibeju-Lekki and Epe… That’s why it important you conduct a search on the land before paying.
3. COMMITTED LAND – This type of land is said to be a No Go Area. As government has reserved the areas for special use…if you buy such property, in years to come, it will be revoked without compensation…even if you have erected a structure on it.
4. LAND WITH DISPUTE – This is mostly not obvious to see as it usually between the family which you may never know unless it is disclosed. Therefore, to avoid stories that tells, you need real estate company to help you in your purchase…by this you have transferred the risk..
5. LAND WITHOUT SETBACK – This is basically for land facing major road. Set back is usually 18meters away from your land…if this is not reflective in the survey, please don’t buy it.. Set back is used for road construction and electric poles mounting.
6. LAND WITHOUT COORDINATES/SURVEY – Cordinates are set of numbers found on the survey documents of the said land, this is used to conduct search to know the status of the land. This is done by Surveyors or Lawyers. In the event where the seller is not willing to release it, please walk away.
7. LAND FROM LANDGRABBERS – These are lands forcefully taken from someone and resell to another.
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