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Warning against Buying a Problematic Property

Warning against Buying a Problematic Property

Hello everyone, today’s article will be discussing how property buyers can avoid falling a victim of paying for problematic properties.

Real Estate is a valuable asset that everyone should have; as it doesn’t just boost your social status but also helps to serve as a financial security. While many people already know these things and are very much interested in buying a property of their own. Many have falling victims of properties that have one issue or the other hanging around it.

There’re signs that one must look out for in other to avoid putting your money into an investment that will bring you sorrow and grief.

 

Below are some essential things to look out for.

 

Price Too Good To Be True: This is a regular occurrence when trying to buy a property. You’ll find a lot of offers with pricing that are unusually cheap. You have to be careful of such offers, as many are like they say “Too good to be true”. Don’t get me wrong, I’m not saying that there’re never genuine situations where a property owner could be in a desperate need to sell his/her property in a bid to quickly invest it in other businesses they operate. What I’m simply saying is that you “look before you leap”, in other not to fall victim of a cheap scam.

 

Legal Tussle Over The Property: This is another issue that can drain your finances and leave you totally exhausted. There’re many people who have falling victims of this problem. As they paid for a property that has a pending court case, some being in argument of who is the legitimate owner of the property, while others could be due to land encroachment. Whichever it is, it is never advisable to pay for a land that still has a pending case filed in court, as this case could take months and most times many years to be resolved. Also note that the final judgment might not be in your favor, and you get to lose everything after being dragged into it and wasting a lot of your resources on the legal tussle.

 

Family Property Sales: This could lead you to the problem above, as family properties, while good can also come with its own sets of challenges. As the land might have been inherited by 10 or 12 people, which means that if just one of them is not carried along during the process or he/she did not consent to it, it will inadvertently lead to a legal brouhaha. So before you jump at the offer of buying a family owned property, do ensure that you make your own independent findings and consult widely.

 

Your question at this point will be,” how can one buy a property that will not lead to any of the above stated complications?” One important response to that question will be that you stay vigilant and involve your lawyer from the beginning of the entire property acquisition process.

It is also important that you work with a reputable Real Estate company that has many years of experience in the business, which gives them the ability to spot a problematic deal from a thousand miles away. And one good example of such firms is Topland Realties Limited, a trusted brand in the Real Estate sector which is also duly registered with the CAC with the registration number RC1690792.  We have a number of properties up for sale across Lagos and other parts of the country and we always ensure that every necessary due diligence is conducted on every property we list by our Legal team.

We believe in preserving our prestige by ensuring that no client of ours invests in any controversy ridden property. Why not contact us today to schedule an appointment? Call or Whatsapp- +234 811 443 1525 to get started today.

 

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