Land buying in Port Harcourt is somewhat different from the rest of Nigeria because Rivers state is a peculiar state within Nigeria with a peculiar tradition in land selling culture. With this Step-By-Step Guide to Buying Land in Port Harcourt, you will learn how to deal with the aborigines like Ikwerre, Okrika, Eleme, Oyigbo/Ndoki and other indigenous tribes who own most of the land within and around Port Harcourt.
The goal of Property4You.com.ng in providing these Step-By-Step Guide to Buying Land in Port Harcourt is to help you avoid being scammed of your hard-earned money or losing your land to government. Anyone intending to buy land in Port Harcourt must follow these steps religiously or they risk losing their land. Happy reading!
FIRSTLY, Do not be in a hurry to part with money. Never be rushed into making payments for the land despite sweet stories of how multitude of clients are interested in same land. Take your time, Sleep over it and return in a day or two. If it sounds too sweet, something might be wrong somewhere.
Below are the Step-By-Step Guide to Buying Land in Port Harcourt. Thank us later, hahaha.
1. Be sure of your budget
Many prospective land buyers in Port Harcourt make the mistake of not having a budget before they set out to search for a land. Buying land in Port Harcourt or its environs is not as easy as walking into a supermarket and buy provisions. There are known fees, hidden fees and extra costs which you must consider. Also, you need to know how much you can afford so you know what area to search and where to draw the line in the course of your search for land in Port Harcourt and its environs.
The Property Buying Guide (Port Harcourt Edition) has a full list of these fees. You can download it for free here. Alternatively, Click here to have a Property4You expert land executive guide and assist you in drawing up a budget.
Once you have known the fees that are associated with buying of land in Port Harcourt, it will adequately guide you on the location and type of land that you can afford.
2. Consult a trustworthy property professional to work and guide you on the transaction
Some property buyers out of fear of paying agency fees decide to go it alone. Well, this is a recipe for disaster and could lead the buyer to be defrauded.
Luckily Property4You as responsible property marketing professionals, can assist you in locating well priced property within Rivers State for its clients and guide them till the deal is closed all at very reasonable costs.
3. Inspect and Appraise the property
The moment you find a land that you like and fits your budget, ensure you visit the site to inspect its environs. It is usually important to do the inspection with your land professional/agent as sometimes they may notice something that you did not. What you observe may prompt you to re-negotiate on price or withdraw interest outright.
Then, let your land professional appraise the land or arrange for one. The appraisal lets you know if you are paying a fair price for the land, and if all seems ok among other issues as listed in our Property Buying Guide (Port Harcourt Edition). You can download it for free here.
WARNING – Dont buy a Land without Viewing the land physically
Also at this point, you need to involve other professionals involved in land issues. These are also listed in our Property Buying Guide (Port Harcourt Edition). If you are consulting Property4You.com.ng all these services comes together with our package.
4. Ask for the Documents of the Land
Ensure you ask and get copies of the documents for the land for independent verification. There are government agencies where these documents will be verified for authenticity. Again, this is where the land professional comes in.
WARNING – Dont ever listen to a land seller’s opinion about the title of land without verifying it.
Then its time to get a surveyor to investigate if the property coordinates falls under govt acquisition or not. Also, the surveyor measures the size of the land to determine if the size is up to what was advertised.
5. Conduct Due diligence and in-passionate investigation with your Professional team
If after inspection you still love the land, investigate it, find out the owner, who is the seller, any previous owners, why the land was put up for sale etc. Dont let your passion for the land (and its seemingly good price or location) cloud your reasoning, let a professional handle this in your own interest. This professional will among other things:
– Demand for the property documents
– Conduct due-diligence with Govt agencies based on docs provided by seller
6. Have your property lawyer read through the documents to point out unfavorable clauses.
When buying land, you will most probably have to sign sales/purchase agreements. Before you do this, get a good and vastly experienced property lawyer to read through the agreement.
Ideally, the buyer’s lawyer drafts the agreements to be executed between both parties, but some sellers insist that their own lawyers draft it. In such cases, the buyer’s lawyer must thoroughly inspect the documents to ensure that fraudulent and ridiculous clauses are not inserted.
This point is very important as most cases of land litigation stem from failure of the buyers to get expert legal counsel when buying.
Do you know that a lot of land buyers in Nigeria have been sold leases instead of total assignments? By implication, the property would revert back to the sellers !!!
If you dont have an expert land lawyer or you are not sure if your lawyer is vast in land buying issues, we can recommend the lawyers we use to you. They are good at what they do. Ask us to link you up with them by clicking here.
7. Make payments and get receipts
Payments for property should be made in such form that it is traceable to the seller. For cash, make transfers into accounts bearing the name of the seller. Same with bank drafts. This is because it makes it very difficult for the seller to deny payment when official bank documents of payment are in his name.
8. Document the entire transaction process
Get a qualified and trustworthy lawyer to prepare carefully-worded legal documents covering the transaction. And ensure all parties to the transaction sign the appropriate sections. This is why we recommend vastly experienced LAND LAWYERS.
9. Take Possession of the land immediately and fence
As soon as you buy it, try to take possession of the land by constructing a fence around it, no matter how small. This way, any prospective buyer of the land will know that it has already been bought and should stay clear.You may hire a guard or contract a local to watch over the land until you build something on it.
Some fraudulent sellers monitor if you visit the land or have a care taker, and if they find out you dont, they may resell it and then problem ensures, which may last for years.
10. There is no step 10
If you find this guide helpful, its probably time to thank us, hahahahaha.
At Property4You.com.ng we are happy to see clients smile with their land documents in hand, we secure from fraud. Dont forget to get a free copy of the Property Buying Guide, from where we got most of these points. You can download it free now by clicking here. Its the acclaimed bible of property buying in Rivers State.