Land verification is an integral part of any real estate transaction. When purchasing a land it is of utmost importance that you are well-informed on the details involved before you pay in cash for it. There are quite a number of things to look out for when you want to acquire a land.
The modern day advent of real estate scam, potential trouble from thugs and fraud have made it quite necessary to carry out real estate transactions through a verified real estate company and reputable professionals like lawyers, land surveyors, and real estate agents. Hiring professionals is important because they will assist you to do a proper land verification so as to avoid hiccups in the nearest future.
There are also vital documents that are quite an important part of your real estate transactions. These documents are:
SURVEY PLAN
The following components are what make the Survey Plan authentic:
The name of the owner of the land surveyed.
The Address or description of the land surveyed.
The size of the land surveyed.
The drawn out portion of the land surveyed and mapped out on the survey plan document.
The beacon numbers.
The surveyor who drew up the survey plan and the date it was drawn up.
A stamp showing the land is either free from Government acquisition or not.
Furthermore, we have documents like:
EXCISION
GAZETTE
CERTIFICATE OF OCCUPANCY
DEED OF ASSIGNMENT
GOVERNOR’S CONSENT
RECEIPT
None of the above documents can be substituted for the other. Each of the documents must be verified by experts in order to confer true ownership of the land. There are some guidelines to follow that would help you with your land verification.
Below are some tips you should consider before you purchase any land:
- Use a verified real estate platform or personnel in order to avoid being scammed by fraudsters.
- Request for a copy of the survey plan and let the surveyor help you cross check it with the coordinates.
- Ask for the excision file number of the intended land in order to check if the land is available.
- Ensure you allow your lawyer to check the documents involved in the real estate transaction.
- Ask the counsel of your real estate agent about the land.
Verification is very critical in any real estate transaction. Buying a land without a verification process is a highly risky venture.
