Everything Women

What to know before buying property

Buying property like all legal transactions is a serious business and because acquring property is the dream of almost all humans, steps to getting property especially in a country like Nigeria has its technicalities.

Prospective house owners face the challenge of falling victim to fraudsters, as a result, there are steps to take to ensure a successful deal.

Buying property is a long-term financial commitment, consequently, there’s a need to have a plan, budget and above all, legal representation.

A competent legal representative is important because property law is a field on its own and not all lawyers can operate in this sector.

Before putting down payment on any property, ensure there is diligent investigation and you are dealing with the property owner and not an impostor

This is one major reason that a lawyer is needed to conduct the proper searches, ask the right questions, and request for the right documentation to determine if the person in charge is the real owner.

See what you are buying, confirm that the person you are dealing with has title documents and the property is free from litigation or any other issue. Take a surveyor for inspection to give professional advice.

ALSO READ FROM NIGERIAN TRIBUNE 

Ensure proper documentation;  the contract of sale, receipt and Deed of Assignment.

Ensure to file all the necessary documentation with the appropriate government authority and then commence the process to obtain Governor›s consent on the transaction. Once Governor›s consent is obtained a Certificate of Occupancy is issued, and the property transaction is then complete.

Recent Posts

Listening is a form of kindness

Afolabi and Faruk are roommates at the university. Afolabi is in his final year and…

4 minutes ago

Be cautious, added spices to meals can interfere with prescription medications —Experts

People who suffer from chronic diseases—like hypertension, diabetes, cancer, arthritis, asthma, obesity, HIV, AIDS, or…

19 minutes ago

The Cocoa House tragedy

ON Monday, June 2, tragedy struck in Ibadan, Oyo State, as a young man later…

34 minutes ago

Nigeria may duplicate functions, roles amid coast guard push

The Senate Committee on Marine Transport recently held a public hearing on the proposed establishment…

54 minutes ago

MMA2: A tale of broken promises and power play

The concession deal between the Federal Government of Nigeria and Bi-Courtney Limited, owner of the…

1 hour ago

Single Window: NSC boss, Akutah champions automation of seaport terminals

The Executive Secretary/CEO of Nigerian Shippers’ Council NSC, Dr. Akutah Pius, has called for automation…

2 hours ago

Welcome

Install

This website uses cookies.