Investors in diaspora; How to Invest in Nigeria

How to invest in real estate in Nigeria

Investors in diaspora; How to Invest in Nigeria

Real estate investment in Nigeria is stressful especially for investors in diaspora, a lot of other circumstances have contributed to this. Such are fraudulent practices, inadequacies of property documentations, trustworthiness of developers, agents and timelessness of delivery. This has made it difficult for Nigerians in Diaspora to buy a property. Property in Nigeria yields a healthy return on investment for both short-term and long-term investors. Here are the three reasons Nigerians living abroad like you should invest in Nigeria’s real estate sector.
i. Creates a Fresh Source of Income
ii. The Government is Also Investing
iii. Stable and Promising Return on Investment

See 5 Reason why you should invest in Lekki

Again, there is an on-going news is that the Nigerian government underscored its investment interest in the nation’s real estate market by rolling out N1 trillion real estate fund as part of efforts to develop the infrastructure base of the nation.

There are platforms which have been proven to be credible when it comes to real estate investment in Nigeria, on these platforms you will be exposed to verified listings from trustworthy and professional real estate companies. Although there are many of such platforms, platforms like Nigeria Property Centre and PropertyPro have been serving industry experts and investors for some time now.
It is true that so many real estate investors oversee have been swindled their hard-earned money, but it is key to understand the way things work by getting proper education and prior knowledge of the nitty gritty.

We are going to take you through the things to know;
I. Procedures/practical steps to acquire property in Nigeria
II. Checklist of points of epitome of Title
III. Title Verification
IV. Location (carry pre-contract search)
V. Title Documents Every Prospective Buyers Should Lookout for
VI. Why Choose Olfad Homes Ltd.

Procedures/practical steps investors should know about:

These include title verification, other due diligence, physical inspection, offer letter, counter letter, acceptance letter, payment plan and documentation.
Questions to ask;
• Are there any discrepancies in the names of the parties, either as to spelling or identities?
• Has the document been properly stamped?
• Have the documents been properly executed?
• Check the dates of documents: Are there any discrepancies or break in the chain?
• Are there any third party right affecting the property?
• How will this affect the property?
• Will the property be sold subject to or free of them?
• Is there a chain of indemnity?
• Capacity of party’s trusties, personal representatives, company, attorney or mortgagees, have they been properly appointed? Do they have the capacity to enter into the deed?
• Have all mortgages been discharged? Discharged mortgages should be included in the epitome.

Checklist of points of epitome of Title

i. Root Document

Is the root document the as the one provided for in the contracts?

ii. Chain of Ownership

Is the claim of ownership unbroken from the seller in the root document to and including the seller in the contract?

iii. Defect in Title

• Are there any defects shown in abstract or the document with the epitome of title? For example
• Do the description and any plan of the property from the abstract or epitome match the contract description and any plan?

Title Documents Every Prospective Investor Should Look out For;

a. Certificate of Occupancy
b. Governor’s Consent
c. Gazette
d. Deed of Assignment
e. Deed of Gift
f. Letter of Administration
g. Registered Survey Plan
h. Deed of Trust
i. Deed of Mortgage

Others include Title Verification and Location (carry pre-contract search)

Why Choose Olfad Homes Ltd.

Olfad Homes Limited gives an edge in premium and luxurious living. Our company redefines the real estate sector of the economy and create an inestimable satisfaction both in the value of money and good living.