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Here are some reasons why you should not underrate property inspection in Nigeria.

1. It reveals a critical defect of the property: Property inspection uncover the condition of the property. These defects will aid in raising objections about the property which will help in your decision-making of buying a property. These defect ranges from poor plumbing and electrical fittings, cracked walls and so on if it’s a house.

2. Knowledgeable about the property: Inspecting a property you want to buy will make you have more information about the property you want to buy and at the same time give you peace of mind. You feel more certain about your investment in terms of the location the property is situated, the safety of the neighborhood, and so on.

3. Aware of future cost: Property inspection gives you more details of the other costs you need to pay before buying a property in Lagos Nigeria. By identifying the defects a property has, it gives you an idea of the forecast expenses and budgeting decisions.

4. Negotiate with the seller: Since property inspection allows you to identify defects the property might have. This will enable you to negotiate the price of the property or fix the problems the property has.

5. Reveals warning signs: Warnings signs such as cracked walls, poor electrical fittings, which are potential causes of danger in the property can be identified. These signs will help you raise objections as to how the property issues can be fixed in making sure that the property is safe and habitable.

Property inspection in Nigeria should not be underrated. Buying a property is a big investment and sometimes it is a cornerstone to someone’s life. So it is imperative to hire a real estate inspector or real estate agents when inspecting a property of your choice.

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Conducting a search on property can be time exhausting especially if you are not a lawyer or a surveyor who knows the nitty-gritty of it.

The procedure for verifying property titles can be conducted at the land registry. And this process of verifying properties cuts across different stages. These stages of verifying properties in Lagos include:

🎯Get the necessary documentation needed to conduct a search: Ensure you have a copy of the original document that you want to verify. Most especially a registered survey is required at this point. Then, a search fee of a required amount will be paid at the designated bank. An application form will also be issued so that the reason for the search will also be filled in.

🎯Conduct a search at the land registry: Every state in Nigeria has a land registry that is saddled with the responsibility of keeping an up-to-date record of all land transactions in the state.

🎯Verification of survey at the office of the surveyor-general: This is an important step in the verification of property or land and it involves the confirmation of the location of the land through the coordinate as stated in the survey plan. Doing this will expose you to the status of the property, whether it’s committed or free from any known government acquisition.

🎯Verification of the company’s authenticity at the Corporate Affairs Commission: Verifying ether a real estate company is registered with the corporate affairs commission can be done on their website and also disclose whether there is an encumbrance registered in CAC in respect to the company’s asset.

🎯Investigate traditionally: This is also important especially when you are buying from the indigent owners of the land.

🎯Lasty, inspect physically: Honesty, physical inspection of a property is also a way of verifying properties and it involves visiting the property in question.

Do this and know peace!

Banks are nice to real estate investors. As long as you have reliable credit, a consistent job, some experience or a qualified sponsor, you can expect to get a loan from the bank, often at a reasonable interest rate.

Depending on interest rates at the time of purchase, you may also have several options when choosing the length of your mortgage.

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It may seem daunting but it really isn’t . With the proper motivation and the right voice inside your ear, you can become a landlord in less than no time.

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