Land for sale? You are ready to buy land but you don’t know a good or trusted land Agent to make your buy from? Well, we’ve got plenty of landed properties for you but, we will not only sell land to you but, we will also walk you through what you need to know before buying landed property in Nigeria. This is very important if you don’t want to lose your hard-earned money to any landed property agent!
What to know before you buy land in Nigeria
To acquire landed property anywhere in Nigeria, there are some documents you need to request from the land agent. This is necessary and will save you from the hands of land grabbers. If your agent refuses or fails to produce these documents, then you need to hold on with payment until…
The best and most effective method of claiming land ownership as well as obtaining landed property is by providing title documents that are effective and recognized by various government rules and laws on such landed properties.
Documents Requirment In Nigeria
1. CERTIFICATE OF OCCUPANCY
A C of O is the Nigerian document officially recognized for demonstrating the Right to a Property. A State Government Land Document officially leases any land under the State to the applicant for a period of 99 years. You should know by now that All lands belong to the State, as was established.
2. DEED OF ASSIGNMENT/CONVEYANCE
A significant document must be issued and submitted to the buyer after any land/house property agreement between the buyer and the seller of the property in question has been reached.
The Deed of Assignment includes material of considerable significance for a real estate transaction. For one, it stipulates the date when land ownership passes from one owner to another. A detailed description of the property that is included in the transfer of ownership is also provided in the deed.
3. DEED OF LEASE / GOVERNOR’S CONSENT
It’s also known as the Governor’s Consent. This land document is acquired with C of O whenever you buy land. It is the land document that makes it clear to the governor and the public in general that the property in question has changed ownership. It is an important land document in Nigeria.
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The Deed of Lease was used during the mid-70s and 80s after the enactment of the Land Use Act to transfer property in particular government properties in Ikoyi, Surulere, Victoria Island axis of Lagos state. These properties were mainly federal lands and high-profile assets, and for the first time, it was the first foray into the issuing of the occupancy certificate to humans.
4. DEED OF SUB-LEASE
This is another specific legal document duly signed and stamped implying the agreement between a land leaseholder sub-leasing his / her unexpired lease term to a third party indicating land and landed property.
5. LAND CERTIFICATE
This is a title document for possession of a piece of land or a large parcel of land. Prior to the enactment of the Land Use Act of 1978, it was released for registered freehold or leasehold lands in Nigeria by a government land registry. The Land Certificate was commonly given to landed property owners while the 1959 Property Conveyance Act was still in force.
6. DEED OF MORTGAGE
It is a protection for a loan with a repayment performed and a cessation upon recovery. Equitable and Lawful Mortgages are the different forms of mortgage transactions.
A legal mortgage is a form of mortgage that transfers to the mortgage the legal interest that one has in the property, whether leasehold or freehold for loan advancement, while Equitable Mortgage transfers to the mortgage only an equitable interest in the property.
7. SURVEY PLAN
To give an exact measurement and definition of that land, this land document demonstrates the boundary measurements of a parcel of land. In transactions of any assets, it shows the true ownership status. It also helps to show whether the land is not purchased or dedicated lands/area under any government. it is one of the important land documents in Nigeria.
Surveyors are the individuals who handle survey issues and they are regulated by the Surveyor-General office of the state where the property is located.
8. Power of attorney: this is usually required where a person is acting for another person, individuals, or companies as his agent. It is a document that authorizes such a person to act on their behalf. Now that you know what document you need from your landed Agent
What is the cost of a plot of Land for sale In Nigeria?
When it comes to the cost of a plot of land in Nigeria; it all depends where and the city the land is on. It has been proven that Lands are more expensive in places like Abuja, Lagos, and Port Harcourt.
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In the city areas of these places mentioned, you are most likely to get a plot of land starting from N5 million to N30 million naira which can vary for different reasons.
Nigeria’s Land Division, says that the appropriate plot for house construction is 50ft by 100ft which can accommodate a standard house with ample Parking space for cars. Some places or individuals measure a plot of land at 100ft by 100ft.
Note that in these states, you can also get a plot of land as low as 1 million, so it all depends on location and how developed is the area in which the land is.
Landed Property: Ready to buy lands from us?
We are ready to sell our well-investigated and legally verified lands for you. Our properties both houses and landed properties are based in Port Harcourt, but if you are looking for landed properties outside Rivers state, reach out to us and we will make sure to help you get a good and legally binding land at the place of your choice.
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In conclusion, always make your investigation before procuring a landed property anywhere. We are always here to help you with all you need to know to make the right decision. We will like to hear from you by using the comment section or WhatsApp us from our storefront