{"id":2515,"date":"2021-01-15T05:56:39","date_gmt":"2021-01-15T05:56:39","guid":{"rendered":"https:\/\/housematesnaija.com\/5-biggest-lies-when-buying-a-property-in-lagos-nigeria\/"},"modified":"2021-01-15T05:56:39","modified_gmt":"2021-01-15T05:56:39","slug":"5-biggest-lies-when-buying-a-property-in-lagos-nigeria","status":"publish","type":"post","link":"https:\/\/housematesnaija.com\/5-biggest-lies-when-buying-a-property-in-lagos-nigeria\/","title":{"rendered":"5 Biggest Lies When Buying A Property in Lagos, Nigeria"},"content":{"rendered":"<p><iframe loading=\"lazy\"  width=\"580\" height=\"385\" src=\"https:\/\/www.youtube.com\/embed\/zoVGKL4no1Q?modestbranding=1\" frameborder=\"0\" allowfullscreen><\/iframe><br \/>\n<br \/>There are several lies when buying a property in Lagos, if you are not careful enough, you can fall into these traps from Property Agents and Sellers.<br \/>\n.<br \/>\n1) The land\/property does not have issues<br \/>\nThis might be true, but word of mouth is not enough, it&#8217;s common to come across this lie when buying a property from a close associate, e.g. a relative, uncle, close friend, Religious leader etc.<br \/>\n.<br \/>\nNever believe a land does not have issues with word of mouth only, the agent or sellers must present a document to ascertain they are the rightful owners of the property and they have the legal rights to sell the property.<br \/>\n.<br \/>\n2) You can sell at double the price in few months<br \/>\nThat&#8217;s a lie, a very big lie, it&#8217;s a known fact that properties in Lagos appreciate, but how fast will it appreciate?.<br \/>\n.<br \/>\nNever fall for the lie that you can make sharp sharp money from a property, a real estate investment is more of long-term and timing is very key, the cheaper the land you&#8217;re buying in Lagos, the slower the appreciation rate too.<br \/>\n.<br \/>\n3) It&#8217;s not important<br \/>\nWhen you&#8217;re buying a house in a place like Lagos, everything is important, every markings, signage, defects, document and information is important, nothing should be overlooked.<br \/>\n.<br \/>\nIf there is any modification that would be done on the property after you paid, let it be written, signed and sealed, everything is important during purchasing a property.<br \/>\n.<br \/>\n4) C of O in view or document under process<br \/>\nAlthough, there are cases when this true, but there are also several cases when this is a big lie.<br \/>\n.<br \/>\nAny land document that is under processing in Ministry of Land, Alausa, Lagos always has an application document, always ask for it, this document will show the stage of the application and when or if likely the document will be obtained.<br \/>\n.<br \/>\n5) The Documents we give you are enough<br \/>\nFor a layman, this might be true, but in real terms, it&#8217;s not. A lot of estate companies in Lagos gives a Survey (Provisional not Registered) and Deed of Assignment when you buy land in their estate, but these documents are not enough.<br \/>\n.<br \/>\nFirst of all, you need to visit the Surveyor General&#8217;s office in Alausa, Ikeja to register your Survey and obtain a Red Copy, then ensure the Deed of Assignment given is sealed (lawyer seal at the front and last page).<br \/>\n,<br \/>\nDepending on the value of the property you bought, if the estate has C of O, you can apply for a Governor&#8217;s Consent, taking possession of a property you purchased is important, but perfecting the documents are even more important, especially when buying a property in Lagos.<br \/>\n<br \/><a href=\"https:\/\/www.youtube.com\/watch?v=zoVGKL4no1Q\">source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are several lies when buying a property in Lagos, if you are not careful enough, you can fall into these traps from Property Agents and Sellers. . 1) The land\/property does not have issues This might be true, but word of mouth is not enough, it&#8217;s common to come across this lie when buying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[81],"tags":[],"_links":{"self":[{"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/posts\/2515"}],"collection":[{"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/comments?post=2515"}],"version-history":[{"count":0,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/posts\/2515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/media\/2516"}],"wp:attachment":[{"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/media?parent=2515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/categories?post=2515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/housematesnaija.com\/api\/wp\/v2\/tags?post=2515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}