Village Excision Issue

WHEN WILL LAGOS STATE GOVERNMENT RESUME GRANTING OF EXCISIONS?

I am beginning to wonder when Lagos State will resume granting excisions to villages in the Ibeju-Lekki/Epe axis so that their lands can have more value and can attract reputable investors. The most recent gazette I have seen were issued in 2012. For years now, through the help of real estate companies and land title sponsors, a lot of villages/communities have submitted applications for excision…

The Most Important Element in Real Estate Transaction

THE MOST IMPORTANT ELEMENT OF A REAL ESTATE TRANSACTION

There are several pitfalls in acquiring real estate but there is one that is extremely important to avoid. I have come to realize that the most important thing in a real estate transaction is to buy from the right person. The importance of every other thing in a real estate transaction pales in comparison to this. Mistakes in most other things can be corrected. If…

Last Will & Testament in Property Matters

A WILL DOES NOT CONFER PROPERTY TITLE ON BENEFICIARIES LISTED IN IT.

Some people invest in real estate solely for the sake of their children. In fact, I know a man who doesn’t have a single property in his name. Every property he owns is in the name of his wife and children. In the Holy Bible, Prov. 13:22 says: a good man leaves an inheritance to his children’s children. So leaving an inheritance for your children…

Court judgment

READ THIS BEFORE YOU MARKET OR BUY A PROPERTY WITH COURT JUDGMENT TITLE

Last month, I had two separate discussions with 2 of my realtor friends about Court Judgment in property transactions. The first one called me and said he had a client who wanted to purchase a parcel of land in Epe and the client said he was told by the seller that the title the land has is court judgment. He was confused and wanted to…

Terrace Duplex

CONSIDER DOING A JV

Some people have parents, uncles and aunts who acquired land in developing areas many years ago. These places that were called developing areas back then have become highbrow areas today. Lands that they bought for less than N1m are now worth many times more. These people have become multi-millionaires by reason of the value of their properties but they don’t have millions in their bank…

Revolution Plus Realtors Conference

7 Takeaways from Revolution Plus Realtors Conference 2020

1. In Lagos, no place is “too far” to invest in land. From my experience, I know this is very true. I have driven to Ikorodu from Ajah in less than 1hr 20mins on a Sunday morning. Recently, it took me less than an hour to drive from Ajah to Ode Omi, Ibeju-Lekki. Ode-omi is after Dangote Refinery and Lacampagne Tropicana Beach Resort. It borders…

Land for Sale

Investing in Ibeju-Lekki, Lagos

Investing in Ibeju-Lekki is a no-brainer.  When you consider the Lagos State master plan and the on-going developments in the area, you just know that owning a portion of Ibeju-Lekki is a must. It is the second largest local government in Lagos state and it borders the Atlantic Ocean. The opportunities it presents are numerous.  By the time the Dangote refinery,  Lekki Free Trade Zone,…

Consider buying half plot of land in Lagos?

We went to a site in Ikate, Lekki recently and on this land, the developer built three sweet 4-bedroom duplexes with parking space on 40mx20m (800 square meters) of land. So I began to ask myself, why do some clients always insist on buying 1 full plot? When buying land, must you buy one full plot? I don’t think so. What should determine the size…

Don’t be Penny Wise & Pound Foolish in Land Matters

Buying land in Lagos can be tricky. It is very important to involve someone very knowledgeable. Consult your registered land surveyor and your lawyer before buying land. They are the two most important professionals you will need at the beginning. The surveyor will check if your land is situated in a location that confirms with physical planning rules (e.g. not too close to high tension)…

Importance of a Deed of Gift

This year we have had 2 clients who needed a signed Deed of Gift but didn’t have one. The father of our first client was a politician. He had a big parcel of land somewhere in Alimosho but he died unexpectedly and didn’t leave any land document with his lawyer or any of his children. The good thing is that the children are not fighting…