TIP OF PROCESS OF BUYING LAND

While the decision to buy land may be easy, the process is certainly not. Here are five tips for buyers interested in purchasing land:

1)Walk the property line: Request a plot plan of the property and walk the entire border line. Make sure your agent and the seller are clear with you about where the property begins and ends and where the site setbacks are. Many first-time land buyers are not familiar with judging acreage and may not always immediately know what land is included in the listing. Alleviate any confusion from the beginning by having the seller or agent walk the property line with you.

2)Research the neighborhood: Get to know the surrounding neighborhood. What does the property line border? Another lot, a farm, a subdivision? What is the nearby land being used for? If you’re planning to build a home on the property, be sure to check the surrounding properties for potential noise or construction. If you plan to purchase farm or horse land, you’ll want to be sure you don’t have any ground contamination or runoff issues from surrounding properties that could impact your future crop or livestock.

3)Check for utilities: the property have any utilities set up? Was there any soil or percolation testing done for sewer or any cost estimates for installation of utilities? Is the property zoned for horses, and do you need any permits? In most instances, your real estate agent will be familiar with these issues and will ask the seller on your behalf. However, the buyer should be aware of them and any possible costs that may arise after the sale so he or she can work them into the offer price.

4)Ask about taxes, HOAs and assessments: you know how much the property taxes are? Are there any existing assessments on the land? Does the lot or land reside in a common interest community with a homeowners association? All of these factors should be considered when buying property and should determine your price when making an offer.

5)Get the right help: Use an experienced real estate agent and lender. Land sales are different than home sales, and agents who primarily sell land are more difficult to come by. An experienced agent will know the right questions to ask and can help narrow your search significantly. You may also find that your loan options are more limited than if you were buying an existing home. If you’re planning to build, you may want to consider a lender who specializes in construction loans and can finance the entire project. Be advised, though, that many lenders shy away from offering full financing for undeveloped land or unfinished construction. In these cases, because there is no collateral and greater risk to the lender, you may find you need a larger down payment or have to settle for a higher interest rate on your loan.
With the right amount of research, preparation and support, buyers should have no difficulty finding the property of their dreams at a reasonable price.

HOW TO GET A LAND IN OGUN STATE

Getting a dream home is certainly the desire of every human being most especially by people who already have a family of their own. But, while you are still single or perhaps still planning to get married, dreaming of having your own land to build your dream house is the best thing that you can think and plan about as early as possible. In Nigeria, getting a land in Ogun State could be somehow difficult If you do not know the process and most especially IF YOU ARE ABROAD.

Ogun State is a state located in South Western Nigeria. To the south, it borders Lagos, Oyo and Osun state to the North, Ondo to the east and Benin to the west. The state’s capital is Abeokuta which is also its largest city. For visitors coming to Ogun State after a long time, they will be surprised by the level of development in the state; chiefly Abeokuta. Owing to the state’s development, investors are now trooping to in the state to get a “piece of the action”. Thus, getting a land in Ogun State could be difficult BUT it could still be done.

HOW TO SEARCH FOR THE RIGHT PROPERTY IN OGUN STATE

The question is how to search for the right land or property in Ogun State? What are the vital things that one has to consider before deciding on handing out the payment for the property? Certainly, you must first seek the help of a real state agent or at least someone who knows the ins and outs of buying a land whether you are planning to build a small or a big home for your family. If you are eying to put up a residential home and you are working in Lagos, you can look towards Mowe, Ibafo or Ogijo; these are all located in Ogun State yet they are approximately 10 to 15 minutes ride to Lagos especially if you are working around Ikeja, Ojodu, Obanikoro etc. Mowe and Ibafo are along the Lagos/Ibadan Express way, while Ogijo is situated along the Ikorodu/Sagamu road.

Sagamu and Abeokuta which are about 30 to 45 minutes ride from Lagos are also two of the best places to stay if you are coming from overseas and would want to settle in a serene environment.

In addition, if you are looking for a land particularly for a factory in Ogun State, you might also consider Mowe and Ibafo axis where the land is still low-priced compared to other populated areas in Nigeria.

GETTING THE LAND WHILE YOU ARE ABROAD

For Nigerians abroad who are willing to acquire the land but do not have the time or the chance to come home, there are many ways through which they can get the land for themselves. One of the ways is to hire a real estate agent who will take care of the transactions. All you have to do when hiring a real estate agent in Nigeria is to entrust your tasks as the buyer of the chosen land. Another way of getting a land while you are abroad is to ask your relatives or close friend to handle it for you.

WAYS TO GET A LAND IN OGUN STATE

•Ogun state Property and investment Corporation (OPIC)- You can approach the Ogun state Property and investment Corporation at either the OPIC building in Oke-Ilewo, Abeokuta or their office at Isheri, (just after the Berger Bridge) to make enquiries if you can get any available land within Ogun State. Although, it is a bit expensive (they will have all the documentationslike the C of O and the survey documentation) but it is worth the money you will be paying. Opic have estates in different part of the state and they include Ikenne, Abeokuta, Mowe, Isheri, Agbara and Ikeja, in Lagos state. It should be noted that OPIC sell mostly completed buildings in their estate. The price of each building depends on the type of building and the area where it is located. Normally, you can get a bungalow between 4.5 and 7 million naira.

•Private Property Development Companies- There are so many private properties in Ogun state. They offer what we call the gated-community environment for you and your family. This is also quite expensive. Some of them sell landed properties while some of them offer completed buildings.

•Land Speculators and ‘Omo Onile’ (Son of the Soil)-  Another way of getting the land is through the land speculators or what is known as the Sons of the Soil (Omo Onile). While this might sound cheaper, you will soon find out that you will also spend as much as the amount spent by those who got their land through OPIC. By the time the Omo Oniles sell the land to you, another set of Omo Onile will come to inform you that you will have to settle them; of course they will not allow you to have peace until you settle them. While you are constructing your building, another set (or the same that came earlier!) will come and inform you that you have to pay them for the construction work. Not to mention the fact that you still have to do the survey and the C of O of the Land with the Ogun State Bureau of Land.

Are you thinking of getting a land in Ogun State? Do you have a land in Ogun? Did you have any difficulties acquiring the property, if so, we would love to hear your stories.

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