Lekki became the most famed city for property purposes across Lagos. Due to its popularity and worth, it became the central hub for the real estate sector. Apart from getting houses for sale in Lekki, it is also known that Lekki is a good source of income if you rent out a house there. So, Lekki is an excellent location to have your property in Nigeria.
You can buy a house in Lekki, not only for residential purposes but also for a smooth monthly income. Several buildings are being constructed for real estate purposes. It is a great choice to buy a house in this axis especially if you want to make good return on your investment in a shorter time. If you want to buy a property in Lekki, it is advisable you consult with a property advisor or a good real estate agent.
9 Things No Real Estate Agent Will Tell You About Houses for Sale in Lekki
But it would help if you were careful while choosing a real estate agent to buy a property in Lekki because there are nine things no real estate agent will tell you about houses for sale in Lekki.
1. Important Investigation
Before buying a property, you should consult your lawyer for better advice. It is better to be careful in property matters whether you are selling or purchasing. A trustable lawyer can lead you to buy a property in a better way. The fundamental reasons to investigate a property are the significant risk factors in a real estate matter. By consulting someone who has good knowledge about both properties, areas can minimize or eliminate the risk factors.
2. Inspect Corporate affairs & taxes
An essential factor is to inspect corporate affairs and taxes applicable to the property you buy. There is the record of all charges kept by the C.A.C. about the limited liability company in Nigeria. A corporation is a company that authorizes the limitations and laws on a property. This inspection will reveal if there are any registered charges on that property.
So, before buying a property, you can inspect this critical factor to avoid any trouble. However, Corporate affairs and taxes inspection is useful if you purchase a property whose owner is a corporate entity.
3. Visual inspection of the place
Before verifying the documentation of the property, the first step is a visual inspection of the proposed property. Visual inspection can also disclose what the agent might have skipped when telling you about the property. It can also reveal the seller’s possession of the land if he is giving information about the geographical location of his land. If he is briefing benefits and defects of the land or property due to its location, it is a positive sign to buy property. You can also go with your trusted surveyor to chart the property.
Charting will reveal more details about the property such as if it’s under Government acquisition or not, the purpose (if it’s for residential, commercial, agricultural, industrial purpose) etc.
4. Off-Plan Houses For Sale in Lekki
Before purchasing any property in Lekki, you must have a meeting with the owner so as to fix every aspect of land, like property ownership, easements, dealing, restrictive covenants, transaction nature, and interests. Moreover, you will find some property in Lekki which are available for sale before construction. These properties are called off-plan properties.
It is of no doubt that you should investigate the developer or real estate company to see if they can be trusted and if they have good record of previous projects. Investing in offplan projects may be profitable for long-term if you invest in good building projects. An experienced and reputable real estate agent can guide you on this. If done right, you will get much profit in this investment. Click to see some great offplan projects many people are investing in.
5. Sign a contract for the property
According to Nigerian law, you have to sign a contract to sell or buy real estate property. This contract will show the true statement of seller and buyer interests and their personal information necessary for documentation. This contract will protect both parties.
- The buyer should thoroughly inspect the root title in the documentation and contracting process.
- Both parties should be satisfied to transfer interests in the property.
- Make sure the complete transaction of payment and receive your property by exchanging the original documents of the property.
- Please make sure the finalization of transaction and property possession by the government is under legal consent.
6. Pre-Contract verifications
Meeting with the actual landowner or property owner is a fundamental part of real estate for buying a property. If you have already met the owner, then move forward towards verification of the identity of the owner. If you didn’t complete yet, first, ask your real estate agent to arrange a meeting with the owner.
Moving towards verifying the owner’s identity, you must know his residence and job or business location. On the other hand, you can also keep a copy of his Identity Card for further concerns or security reasons.
7. Construction approvals For Houses For Sale In Lekki
A property always needs construction approval for its structural facilitation, including sewage, water, and electricity supply. You must verify if the property had legal construction approvals. Otherwise, it would be a waste of money. Same goes for Lekki; you can’t start construction without having an approval from the respective authorities. A real estate agent will help you in this regard.
8. Flooding Aspects of Some Houses For Sale In Lekki
Some areas in Lekki axis are prone to flooding. One way to see the true situation of things is to visit the property during rainy season in order to view the true knowledge of how the property is when rain falls. For the case of land, seeing how it really is will give you an idea of the kind of foundation that will be required before building your house. Please note that viewing a land does not give an accurate information on the kind of foundation that will be required, soil testing has to be done to determine this.
9. Complete Research Before Signing Contract
Before signing the property contract, read the whole document before signing the papers. It means never sign the signature area before completing research. Identity verification of the seller is also a crucial thing to keep in mind. Never hesitate to ask for the seller’s identity card, even if he was recommended by a developer or real estate agent.
Conclusion on Houses For Sale in Lekki:
Real estate is a sensitive matter whether you want to buy or sell your property. So, if you are looking to buy your property in Lekki, make sure to choose a good real estate agent. We have listed nine things most real estate agent will not tell you about houses for sale in Lekki. So make sure to follow all these steps while buying a property because they would greatly assist. If you need further assistance with buying land, houses or apartments in Lekki axis, Click here to consult with one of our experienced real estate consultants in order to guide you through the steps of acquiring safe, secured properties with good documentation.