Getting a property in Nigeria seems to be strenuous for first timers who are in need of one either for purchase or for rent in Nigeria. This is unconnected with the nature of the Nigerian property market which is characterized with little or inability of property data, the imperfect knowledge of the property market, quackery, ‘Omo-Onile’s problem among other problems. However, these problems should not be a barrier to getting your dream property in Nigeria.
Having a clear understanding about where to get the right property will help you minimize the risks involved when investing in the property market as well help you to get the value for your money. If you are investing in property for the first time or you have been investing for a while without the knowledge of where to get the right properties, this article will guide you on the best ways to do this.
When investing in/renting properties in Nigeria, you need to look at the following options to guide you rightly:
A Trusted Real Estate Agent
When you come across a trusted real estate agent who render his service with high level of integrity as well as respond to his client with higher sense of responsibility and devotion, you can be rest assured that you’ll get the right property as well as security of capital. A real estate agent is skilled at screening potential choices of properties for you because of his vast knowledge about the local property market as well as several instructions he receives from property owners to sell or let their properties. Therefore, consulting him will give you a range of options you can pick from.
Directly from the Owner
Sometimes, owners of properties places for sale banners on their properties. To get such properties, you need to search the proposed neighborhood for properties with for sale banners. Advantages of getting a property directly from the owner includes getting a good bargaining with the owner especially if you are good at negotiating prices, reduction in the cost of acquiring properties as the estate agent is being eliminated.
The internet of things has made searching for properties easier, with a click on your phone or PC, you can get information about available properties, price ranges and contact details of the owner or the real estate agent.
Unlisted properties (Not so usual suspects)
Sometimes, some properties are up for sale by owners but are neither listed online nor a for sale banner is placed on them. This is usually because the owners don’t want people to know they are selling their properties. Getting this kind of information is sometimes difficult; you can only get information about such properties directly from the owner or close friends or relatives. To get this this kind of property, you may need to work up to owners to make enquiry if they are willing to sell, some of the things you may watch includes vacancy or occupancy rate, there is higher tendency that if a property is vacant, it may be up for sale even if not listed in the market, when an apartment is owner occupied, the owner wont be willing to sell.
Conclusively, no matter the method you use in searching for properties, always ensure that you conduct your search rightly, do the title document verification before you pay for the acquisition of a property; always seek the help of your legal advisers as well as professionals.