The Do’s and Don’ts of Buying Land in Nigeria as a US Citizen
Introduction
Buying land in Nigeria can be a rewarding investment, but you need to be careful. If you don’t do your homework, you could run into trouble.
A lot of people have lost their hard-earned money because they were not properly informed or didn’t do their due diligence.
In this blog post, we are going to talk about some do’s and don’ts to make sure your land purchase goes smoothly.
Do’s
1. Do hire a local lawyer
Make sure you have a Nigerian lawyer who understands local property laws. They can help you avoid mistakes and ensure all documents are in order.
Some people choose to see this as unnecessary, don’t do that or be like them.
Having a local lawyer that understands property law can save you from a lot of regret.
Why this is important:
- They’ll help with paperwork and legal checks.
- They ensure you’re not buying disputed land or land with unclear ownership.
- You can be sure that they will carry out their due diligence and their experience is helpful.
2. Do verify land ownership
Before buying, always double-check that the seller is the true owner of the land. Some people try to sell land they don’t even own.
There are documents you should request from self-acclaimed owners of the lands.
It won’t hurt to also carry out a local check to see if the seller is the true owner of the land.
How to verify:
- Visit the land registry to confirm the property details.
- Ask for the original documents, like the Certificate of Occupancy (C of O).
3. Do visit the property
Never buy land without seeing it first. Online listings can be misleading, so make sure to visit and inspect the land in person.
In the situation where you are not available or cannot be available, you can easily send in a trusted family member, lawyer or reputable agency to check the land.
There are different technologies available that can help you check out the place without even being there. You can try using some of them.
Don’ts
1. Don’t rely only on middlemen
While middlemen (agents) can be helpful, don’t trust them completely. Some may give you false information just to make a quick sale.
Agents are really cunning as they like to inflate the prices of properties if they feel you’re not smart.
It always helps having a trusted person on ground – it could be a relative or a reputable real estate agency.
2. Don’t skip any legal paperwork
Always get every document you need for the transaction. This includes the deed of assignment and other official papers. Without these, your purchase might not be valid.
Every document, no matter how small it looks, is very significant and important.
In times of disputes, those paperworks and documents will save you as long as you have them.
3. Don’t ignore land laws
Nigeria has different land laws. Some lands are set aside for government use, so they can’t be sold to private buyers. Make sure the land you’re buying isn’t restricted.
People have lost their lands because they were sold a land belonging to the government and they didn’t conduct a proper survey.
Conclusion
Buying land in Nigeria can be a great investment if done right. Follow these do’s and don’ts to make sure your purchase is safe and secure.
At GZ Realty, we help you avoid all the possible dangers in securing your land as a US citizen.
We make sure you understand all the plans and also recommend actions to take to make sure your property is safe.
Ready to take the next step in your investment journey? At GZ Realty, we specialize in connecting US citizens and African Americans with prime real estate opportunities in Nigeria. Whether you’re looking to invest in residential properties, commercial spaces, or land, we’ve got the expertise and local knowledge to help you make the most of the booming Nigerian market. Explore the potential of Nigerian real estate with GZ Realty, and discover how we can help you diversify your portfolio with confidence.
Learn more about our services and start your investment today!