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Avoid these three critical real estate pitfalls in Lagos: 1. Neglecting Due Diligence: Thoroughly verify property documents and legal status to avoid future issues. 2. Overlooking Market Research: Stay informed about market trends and property values for better investment decisions. 3. Ignoring Regulatory Compliance: Adhere to local building codes and regulations to ensure a smooth process. Make strategic, informed choices to protect and grow your investments. #RealEstate #InvestmentStrategies #LagosProperties #ProfessionalAdvice #mrpropertymatchmaker

Understanding the CERTIFICATE OF OCCUPANCY (C of O) in Lagos State, Nigeria What is a Certificate of Occupancy (C of O)? A C of O is a legal document issued by the Lagos State Government, granting the holder the right to occupy and use land for a specified term, typically 99 years. It serves as proof of ownership recognized by law and protects the holder's rights against third-party claims and government acquisition. Why is the C of O Important? 1. *Legal Proof of Ownership*: A C of O provides official documentation of land ownership, which is crucial in securing property rights. 2. *Security in Transactions*: Buyers are assured they are purchasing land with a legitimate title, reducing the risk of disputes. 3. *Increased Property Value*: Properties with a C of O generally have higher market value, as they offer more security to potential buyers. Common Misconceptions About the C of O 1. *Confusing a C of O with a Deed of Assignment*: While a Deed of Assignment transfers ownership, a C of O confirms the legal status of land use by the holder. They are different documents serving distinct purposes. 2. *Believing the C of O Grants Perpetual Ownership*: The C of O in Lagos is valid for 99 years and must be renewed. It does not provide perpetual ownership. 3. *Assuming All Properties Have a C of O*: Not every property has a C of O. Many, especially those acquired informally, may lack this documentation. Thorough due diligence is essential. The Application Process for a C of O 1. *Application Submission*: The process starts with submitting an application to the Land Use Allocation Committee, including necessary documents like a site survey and deed of assignment. 2. *Site Inspection and Survey*: Officials conduct a site inspection to verify land details. A registered surveyor must approve a survey plan. 3. *Offer Letter Issuance*: After approval, the applicant receives an offer letter specifying the terms for the C of O issuance and associated fees. 4. *Final Approval and Collection*: Once terms are met, the C of O is processed, and the applicant can collect it. After reading through this, you’ll have a very good understanding of what the C of O is. You can contact us if you have any questions relating to real estate. #Sedproperties #Realstate #CofO

Essential Checks for Property Buyers: Safeguard Your Investments As the Managing Director of Lead-Rite Construction, a leader in quality construction and urban development, I am deeply concerned about the recent incidents of property destruction in Lagos State. This unfortunate situation highlights the critical importance of thorough checks and due diligence before purchasing land or property. If you're considering investing in property, here are some essential steps to help protect your investment: 1. Verify the Title Documents: Always confirm that the property has a valid and legally recognized title. Request to see the Certificate of Occupancy (C of O) or Governor’s Consent, and cross-check with the Lagos State Land Registry to ensure it’s genuine. 2. Check for Government Acquisition: Some properties are under government acquisition or designated for public use. Verify the property's status at the Lagos State Physical Planning Permit Authority (LASPPPA) to avoid investing in such restricted areas. 3. Conduct a Survey Plan Verification: Engage a licensed surveyor to cross-check the survey plan of the property against the Lagos State land map. This will confirm the property’s exact location and boundaries. 4. Consult a Real Estate Lawyer: Legal advice is crucial in navigating property purchases. A real estate lawyer can help review documents, draft contracts, and ensure all legal requirements are met before you make any commitment. 5. Check for Pending Litigations: Ensure the property is free from any ongoing legal disputes. This can be verified through a court records search or by consulting a legal professional. 6. Obtain the Required Permits and Approvals: For those looking to develop or build on the property, ensure you obtain all necessary permits and approvals from relevant authorities like the Lagos State Building Control Agency (LASBCA) before starting any construction work. Investing in property can be a rewarding endeavor, but it requires vigilance and thoroughness. At Lead-Rite Construction, we are committed to promoting sustainable and secure urban development. Let's build a future where every investment is safe and every development is sound. to get started on your first Property purchase, Contact us/visit our website; 🌐 lead-rite.com 📞 +2348038489084 #RealEstate #PropertyInvestment #UrbanDevelopment #Lagos #LeadRiteConstruction

If you truly want to build in Lagos, this video is a must watch. In building, the strength of your material is very important. That's why this government body play a crucial role in the building process. Watch the video to the end and thank me later. #realestate #realestateinvestment #buyland #buyproperty #land4sale #propertyfinders

Acquiring property in Lagos State can be a daunting task, particularly with the fear of demolition in mind. Nevertheless, do not worry, as @renascentproperties is here to assist you. Here's a guide to steer clear of investing in properties slated for demolition in Lagos, Nigeria: Firstly, thorough research is essential! 1. Authenticate the property's documentation: Ensure the property possesses a legitimate Certificate of Occupancy (C of O) and valid building approval from the Lagos State Government. 2. Liaise, and verify the property status with the Lagos State Land Bureau. 3. Visit the Lagos State Physical Planning Permit Authority (LASPPPA): Ascertain the property holds a valid building permit and is not situated in area designated for demolition. 4. Seek guidance from a Trustworthy Realtor: @renascentproperties can provide valuable insights and guide you through the process. 5. Conduct an on-site inspection: Scrutinize the property for any indications of imminent demolition or acquisition notices. Engage with neighbors and locals for pertinent information. 6. Investigate legal status: Determine whether there are any ongoing court cases pertaining to the property or the area. 7. Validate the property's background: Inquire about prior ownership and any past involvement in demolition or acquisition disputes. 8. Exercise caution regarding unusually low prices: If a deal appears too good to be true, it likely is! 9. Obtain legal counsel: Seek advice from a lawyer to review property documents and ensure compliance. 10. Practice due diligence: Take your time, and avoid haste in your purchase. Remember, it is better to be safe than sorry. By adhering to these steps, you can substantially avoid the risk of investing in a property designated for demolition in Lagos State. Remember, knowledge is power, and being informed is paramount to safeguarding your investment. We are available to walk you through. #renascentproperties #realtor #realestate #lagosrealtor #lagosproperties #lagosnigeria #planning #construction #developer #development #propertyforsale #propertyforrent #staysafe #realestateinvesting #propertyinvestment #safeinvestment #monday #guide

A joint venture agreement is a great way of getting into the real estate market at a lower cost. As a developer, you don't need to buy a plot of land. As a landlord, you don't have to bother about the development. It is a situation where landowners seeking to develop their properties may look for partners to finance their development. The land owner and property developer go into a mutual agreement to develop a plot into some form of defined real estate. The usual basis of the agreement is the landlord getting between 20-50% while the developer is entitled to the rest. In some situations, the land owner might receive upfront payment, depending on their agreement. Before getting into a joint venture, ensure you hire a reputable lawyer to guide you through the process. Did you find this useful, kindly repost, like and comment. I am Uche Amatokwu , Lead Consultant at Gibraltar Properties Lagos, Do well to follow me for more updates and educative contents on real estate. Enjoy your weekend. #lagosrealestate #investing #lagosproperties

Lagos Real Estate Scam - Part 1 LAND IS NOT FREE FROM GOVERNMENT ACQUISITION Some developers offer land for investment without knowing whether the land is free from government acquisition. I have realized, while conducting land verifications for investors, that most of these real estate companies with various sites in many locations in Lagos state don’t have land titles like Certificate of Occupancy, Governor’s consent, villages excisions or approved layouts. Beware of real estate companies that usually come up with phrases like “excisions in progress”, the end result is not always palatable. #osil_properties #realestategoals2024 #duediligence #DueDiligenceMatters #lagosproperties #realestateinvestment #realestateexpert #realtorweysabi

Thinking About Building/Investing in Lagos? Read This First! 👇 Lagos is experiencing major changes, with some buildings coming under scrutiny due to some regulatory requirements. As a result, everyone is concerned about the safety of their investment, and rightly so. As a real estate development company, we understand the concerns and confusion this brings to potential investors and homeowners. In our latest video, we talked about the essential steps we take to ensure a building project is approved right from the start, avoiding future issues and securing your investment. What steps do you think are most crucial to avoid such issues? Let's discuss it.  #RealEstateLagos #BuildingApproval #LagosDevelopments #SafeInvestments #LagosRealEstate

♦️Considering the ongoing demolition in Lagos, it's crucial to tread carefully when investing in a property. ♦️ 🟪Here are 5 essential steps to take before making a purchase decision:🟪 ✅ Conduct thorough research: Understand the current real estate landscape in Lagos, including areas affected by demolition and those considered safe for investment. ✅ Verify property documents: Ensure the property you're interested in has all the necessary legal documents in place, including title deeds and approvals from relevant authorities. ✅ Inspect the property: Before finalizing the deal, inspect the property thoroughly to assess its condition, potential for renovation or redevelopment, and any existing encumbrances. ✅ Seek expert advice: Consult with real estate professionals, lawyers, surveyors and property consultants to gain insights into market trends, legal implications, and investment risks. ✅ Consider future developments: Evaluate the long-term prospects of the property, including its proximity to infrastructure projects, commercial hubs, and potential for appreciation. By following these steps, you can make informed decisions and mitigate risks associated with property investment in Lagos. Drop a comment if this was helpful. #realestateinvestment #lagosproperty #duediligence #realestateinvestment