When buying a property, it is important that you SHINE YOUR EYES!, It is a Caveat that you take precautions, because once there is exchange of money little or nothing can be done to a defective property.
First thing first, you don't rush to purchase a land, else you would buy a slump and if anyone is pressuring you to purchase a property, then beware!!! that's a sign
BUYING A LAND IN LAGOS is risky, that's why you need a lawyer skilled in real estate, because ignorance of the law is no excuse ignorantia juris non excusat. Buying a defective land is no land at all.
The law sees as done that which oughts to be done, thus the law expects a prospective buyer to carry out investigations before buying a land.
A friend of mine decided to purchase a land and like what most people do, he decided to buy his land without consultation of a lawyer. At day time when he went to inspect the property he saw that the property was dry land. He inspected the property only when the sellers called him to, when he bought the property, to his surprise, he found out that he purchased a water land, and the price he paid for that land! If only he HAD CONSULTED A LAWYER. But like most people he was penny wise, pound foolish. Don't try to save little expenses and in the process rob yourself.
Who has the capacity to sell land? When buying a land it is important for you to know the capacity of the person selling the land. Is he selling as an accredited agent, if so such agent has to have a power of attorney? A written document, usually authorizing an agent to act for a principal. Is the land a family land and is the seller selling as a family member or a representative head. Knowing who has the capacity to sell is very important if you don't want a void transaction, which means you have purchased 'the space' which is tantamount to nothing.
An attorney should only be required during sales of properties which they require to confirm all documentation's and confirm ownership and transfer of ownership. it is helpful to know why the owner is selling it now, what he paid for it, how long he has owned it. At the outset, it’s highly likely that the seller knows more about the land than you do, so do everything in your power to gather enough knowledge to level the negotiating table. All these you cannot do on your own.
Put it in writing. Also remember to get any critical information in writing – from the seller, agent, or town official. In real estate transactions, verbal agreements or communications carry little weight. Nor do opinions, such as “I think you could probably subdivide the lot.” Make sure any important information that might affect the value of the land or your ability to use it as you desire is put in writing.
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