- Property type (Residential, commercial, etc.)
- Accommodation
- Area of the Plot
- Preferred floor·
- Preferred Location (park/road facing etc.) ·
- Preferred Locality Property ownership (lease/free hold)
- Price range
- Room sizes
- Builder's/Govt. properties
- Parking
- Servant Quarter
- Other requirements : like distances from Bus Station (BRT), Airport, Schools,
- Markets etc.
Best way to find the right kind of property is to check up with real estate agents, which enlist number of properties. You can short list details of properties given by real estate agents, and owners posted on sites and then at a suitable time and day you can visit these properties. It is advisable to fix up appointments with owners and real estate agents before you visit them. You can then assign your marks to these properties as per the list prepared of your choice. Once through with this process which sometimes takes number of visits and enough time, you would be able to pinpoint which is the best proposal for you and your requirement.
After you have decided the suitability of the properties seen, you can select the best ones in your wish-list.
Then checkup the following:
- Who is the promoter?
- Has the real estate agent who has shown the property to you, given you the complete information?
- Is the property title clear?
- Are there any other complications? (you can check these things from anyone you know in the vicinity of the property in your wishlist)
- Whether the price is right? (Again this can be verified from people in the vicinity)
- Who are the other flat owners in the building? (if any)
- What are the common areas and what is status of ownership?
- Permissions required from Competent Authorities?
- Credentials of the Promoters? (You can check this by asking the builder about his other completed projects and you can speak to the flat owners living in those projects)
- Construction specifications? (you can show the property to some qualified Architect)
- Ask for a draft of Agreement to Sell to be signed (if you intend to enter into a transaction) Once you have decided to buy a property after checking all the above details you should try to get all the terms and conditions of sale and purchase in advance before you part with any amount to the seller. You must try to reduce everything to Black and White so that there are least problems later on.
- And above all don't try to save a few thousand Naira on registration process of your property. Go in for proper Sale-Deed (if possible) through a qualified Advocate or experienced Document Writer in the industry.
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