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Untapped Wealth In Real Estates

noreply@blogger.com (REALTOR/WEBMASTER) — Sun, 19 May 2019 18:19:00 +0000

PH RealWealth Makes It Posible Quick Returns On Your Investment!

You're about to discover the untapped wealth in real estates! Most times, people get discouraged when they think of the period of time they would wait for their property to mature. This is why so many young men/women find it so hard to invest in real estates because of the time frame. But I must say this: the time it takes for your property to appreciate depends on the following:

LOCATION OF THE PROPERTY
THE NEIGHBORHOOD
GOVERNMENT PLAN FOR THAT AREA
THE OVERALL QUALITY OF THAT PROPERTY ETC.

If there is anything which appreciates very quick, it is property. If you know things to look out for before investing in real estates, then you would always get quick returns on your investment.

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Read: Pros & Cons About Land In Nigeria

HOW TO UNDERSTAND LAND TITLE AND DOCUMENTS

noreply@blogger.com (REALTOR/WEBMASTER) — Sat, 09 Mar 2019 22:09:00 +0000

Understanding Land Documents In Nigeria

-Real Estate Coach Spark shares this, though copied, I feel we should go through it.

In this article, you would understand real estate terms, especially inland documents in Nigeria.

SURVEY PLAN

A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor-general in Lagos as it relates to survey issues in Lagos. A survey plan must contain the following information:

1. The name of the owner of the land surveyed

2. The Address or description of the land surveyed

3. The size of the land surveyed

4. The drawn-out portion of the land survey and mapped out on the survey plan document

5. The beacon numbers

6. The surveyor who drew up the survey plan and the date it was drawn up

7. A stamp showing the land is either free from Government acquisition or not

EXCISION

Land Use Decree on the 28th of March, 1978 that vested all lands in every state of the Federation under the control of the State Governors. The Land Use Act coupled with other laws made it possible for the Governor who was now the owner of all lands in the state to actually have the power to Acquire more lands compulsorily for its own public purpose to provide amenities for the greater good of the citizens.

Fortunately, the government recognizes that indigenes of different sections of the country have a right to existence . . . a right to the land of their birth. Hence, it is customary for state government to cede a portion of land to the original owners (natives) of each area.

An Excision means basically taking apart from a whole and that part that has been excised will be recorded and documented in the official government gazette of that state.

GAZETTE

A Gazette is an Official record book where all special government details are spelled out, detailed and recorded

A gazette will show the communities or villages that have been granted excision and the number of acres or hectares of land that the government has given to them. It is within those excised acres or hectares that the traditional family is entitled to sell its lands to the public and not anything outside those hectares of land given or excised to them.

A Gazette is a very powerful instrument the community owns and can replace a Certificate of Occupancy to grant title to the Villagers. A community owning a gazette can only sell lands to an individual within those lands that have been excised to them and the community or family head of that land has the right to sign your documents for you if you purchase lands within those excised acres or hectares of land.

Pros & Cons About Land In Nigeria

Also, read Understanding Land Title In Nigeria

DEED OF ASSIGNMENT

A Deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to that the Seller that has just bought land.

The Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction. Such recorded Deed of Assignment come in the form of either a Governorâ€™s Consent or _Registered Conveyance

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CERTIFICATE OF OCCUPANCY

A Certificate of Occupancy (C of O) issued by the Lagos State Government officially leases Lagos land to you, the applicant, for 99 yrs. As already indicated above, all lands belong to the Government.

A C of O, however, is the officially recognized Document for demonstrating Right to a Land.

What happens after 99 years? That question is still subject of debate among experts. Most have adopted a wait-and-see attitude. Others postulate that as the new owner of the land, you the buyer can renew the certificate of occupancy when it expires. That makes sense, but for now, is largely a case of we shall see.

Pros & Cons About Land In Nigeria

Think of buying your first Landed properties Or next landed properties! Talk to me: 08165937286

Land Sizes & Measurement

noreply@blogger.com (REALTOR/WEBMASTER) — Sat, 09 Mar 2019 21:46:00 +0000

Understanding Land Sizes And Measurement

This article is people who purchase land but don't really understand the meaning of these Real Estate terms. As a potential buyer wishing to buy land or build a new house you must be conversant with a few of these figures. The first hurdle is to understand the system of Land measurement in Nigeria.

If you're a Realtor, this article would also shade more light, as it is an integral part in real estates, this article would also help aspiring surveyors looking forward to mastering the Pros & Cons of Land sizes and measurements.

In Nigeria today, Land is measured in Hectares, Acres, Meters, and Feet. These measurements are affected by factors, which include development pattern, human and environmental factors.

The Size Of A Standard Plot In Nigeria?

According to the dictionary meaning of a plot: A plot is a marked out piece of Land for the purpose of building or farming. The word 'plot' is an arbitrary term used to describe a land division carved out for property development.

The size of a plot can vary for different reasons but according to Nigeria's land division, the appropriate plot for house construction is 50 x 100ft which can accommodate a standard house with a small compound. To better understand land divisions used in Nigeria, different units of area are used as follows:

*HECTARE*

A hectare is one of the least known metric units and one which potential buyers and Estate developers seem to struggle with -

It is a land measuring:

🏿100m x 100m OR

🏿328ft x 328ft OR

🏿10,000 sqm OR

🏿Two and a half acres OR

🏿15 plots.

*ACRE*

An Acre is a standard unit of measurement used by Land sellers and it is almost equivalent to the size of a standard football field. An Acre is a product of any rectangular plot of land giving a total of:

🏿4,046sqm OR

🏿43,560 sq ft OR

🏿6 plots (each measuring 60ft x 120ft)

*PLOT*

In Lagos State, the standard size of a plot is 60ft x 120ft (18m x 36m i.e. 648 sqm), while in some other cities of the country, plots are measured in 50ft x 100ft.

HOW TO UNDERSTAND LAND TITLE AND DOCUMENTS is next to read! Pros & Cons About Land In Nigeria

12 POINT ULTIMATE PROPERTY BUYING CHECKLIST

noreply@blogger.com (REALTOR/WEBMASTER) — Wed, 13 Feb 2019 02:00:00 +0000

12 POINT ULTIMATE PROPERTY BUYING CHECKLIST

Buying your first property is the best thing but, can also be frustrating if you don’t know what to look out for. So I’m here to make a list of the ultimate 12 point property buying checklist, which is going to help you save yourself from some downfall.

BELOW ARE 12 CHECKLIsT OF PROPERTY BUYING

SET YOUR LONG TIME GOALS: Before thinking of buying property, you must know WHY you want to buy property, don’t just buy because someone close to you buys. You also have to prepare ahead of time.
GET YOUR BUDGET IN ORDER: You must get your budget right before you even plan to buy property. If you know that you would buy property in the future, then you have been saving.
ORGANISE YOUR FINANCES: Most times you want to invest in properties; you may not have all the money you need to buy. At this point, you have to around to see if there’s where you can get loans with low-interest rate, especially if you have any credit you can use to your own advantage, for example:

If an interest rate is 10% per annum, the business you want to do is 30-40 return or the property appreciates 20% every year and what you have to pay back is 10%. This shows you that you’re on advantage side.
RESEARCH THE MARKET: The location of your property account for up to 80% of its performance. You have to consider Government plans for the area you want to invest in. Demographic, Local Economic, Infrastructure, Job Creation Access to schools and Shopping Centre
BUY THE RIGHT PROPERTY: Looking for an investment grade property is very important when buying; you have to buy a sure property which keeps attracting people’s attention. Your property must not only appeal to tenants it must also appeal to owners.

Not all the property in the market are investment-grade property, even if the location is good, you have to make sure that the property you’re buying is situated in a location which would keep attracting people.
SEEK ADVICE: It is very important that you look for a reputable property buying agent who has your interest at heart, someone who would represent you, instead of themselves to assist you in doing some of the research, negotiation so as to get the right property for you. Talk to BoomConsult Now
BE THRALL: Make sure you don’t buy any property under the emotional influence, never make a mistake of making an emotional decision, remember that is a property you’re about to buy and not cloths or any other things. You have to be sure you're satisfied with the property you’re about to buy.
SEEK FURTHER ADVICE: Once you’ve found a property you’re to but Seek further advice, especially from property valor to help you tell the worth of the property or what could likely happen to your property in the next ten years.
BE PRACTICAL: Don’t be carried away by your new property, make sure you’re fully satisfied with the property you’re buying.
NEGOTIATE: You don’t have to agree with the first asking price. If you know that the price isn’t favorable, then you can negotiate. Remember it must not be on the price
LOOK FOR A SOLICITOR/LAWYER: Conveyances is an important process that facilitated the illegal transfer of an owner of the property from the ownership to the buyer. Remember, you may know law more than a lawyer, but a lawyer knows where to find the law.
BE PATIENT: Don’t rush in, especially when an offer just pop-up from where you’re not really sure. Take your time to do diligent check to make sure your money is saved or you’re buying from the right owner. So be patient and don’t rush to buy because it is cheap or because of the so call property agent.

Give Your Business A Voice Go Online

I hope with the above 12 point checklist of buying your first property guide you as you as you make a commitment to buying that property.