19/11/2019
Vital questions to ask your realtor before you commit yourself to any land transaction.
Location
It's important you are certain on the exact location of a property. Don't be told that a property is in Lekki, meanwhile the property is in Oribanwa. Don't be told that the property is in Port Harcourt, meanwhile the property is somewhere in Omagwa, Ozuaha, Ipo, and the likes.
Title
Be sure of the title of the property. Also seek to know the difference between various property titles. The issue of property title is more vital in Lagos and in Abuja, where the government have set up strong systems to curb land theft, and unlawful usage of properties. For instance, you can't buy some properties clearly mapped out for a residential purpose, and decide to erect a commercial structure on it.
Price
This is a very vital question to ask. Buying a property goes beyond just paying for the land. There are statutory charges to be paid. If you are buying from a real estate company, you are mandated to pay for your survey, documentation/deed, and then development fee. However, if the developer have already factored in these charges into the cost of the land, you only get to pay for the land and have all of these documents.
If you aren't buying from a real estate company, also bear in mind that you'll be required to pay the following:
Bush entry(non refundable)
Agency fee
You'll have to get your lawyer to prepare the deed
You'll also need the services of a surveyor
You'll also need to vet the authenticity of the property, with the relevant authorities(due diligence)
With these few points of mine, I hope I've been able to enlighten you on the right questions you should ask before committing yourself financially to any property deal.