by
Patrick Ogungbola
MD/ CEO, BLUEHEDGE REALTORS
“Hello Steve, good day sir”
“Halliday, how’re you doing? It’s been a while”
“I dey o, na only hunger”
“Abeg, commot, which kain hunger”
“Bros, this economy harsh o, everything just dey somehow”
“As in how? I don’t seem to see any change from what we’ve been used to”
“You know you be big boy now, you can’t be affected”
“But this is not a matter of big boy; it’s just that I don’t seem to know what has changed. Can you please tell me the problems or challenges we are currently facing that we’ve never experienced before in this country?”
“Well, I know, but it’s very hard to see or make money these days”
“I beg to disagree. Has there ever been a time in history when people will acknowledge that things are easy and that life is good. It is only when people look back that they will acknowledge that one administration is better than the other. No current administration is ever appreciated while still in power”
“Hmmm… Well, you have a point there. But I hope you’re not applauding the performance of the current government”
“What’s my business with that? You know I don’t belong to any political party. You see, the needs of most Nigerians are basic; they need constant electricity, good roads, job, security of lives and properties – they just want to feel the presence of government”.
“You’re right sha! But Steve, what do you have to say about this Pastor that was said to have raped a member of his church?”
“What do I have to say? Am I a judge? I don’t get involved in issues that doesn’t concern me”
“Ah! Steve, this matter is the most trending subject in the news and in all social media; or are you justifying the acts of the Pastor?”
“Why don’t you just leave me out of this matter? You see, rape or any of such similar acts is very bad and should be condemned; but like I already said I don’t want to discuss about the trending subject. It calls for deep soul searching by everyone. You know, everybody in the world has got one issue or the other, so won’t it be foolish to leave our own issues and be discussing about that of others? Okay Halli, the way you are, you mean you’ve got no issues? Just like the great master Jesus once said, he that is without sin, let him first cast a stone”
“Better don’t let people hear this thing you’re saying, it will look as if you’re supporting a rape case. We need to judge this case by its merit”
“I think my discussion with you may end here if you don’t have wisdom to understand my stand on the matter”
“Okay, I’m sorry, don’t go yet. I’ve not even told you what brought me here. Please I need your professional advice. Someone introduced a cheap land to me for purchase at Ibeju-Lekki area of Lagos. The price looks too good to be true. How would you suggest I go about the purchase as I’m already developing interest in it?”
“You mean you left what actually brought you here to be discussing about other issues that will add no meaning to your life. Interesting! And you know, this is the problem facing most people – they are more concerned about other people’s problems, not minding theirs. May God have mercy!”
“Apologies once again. But really, I need your professional advice about this investment”
“Alright. You know, buying land or investing in any real estate asset is not a rocket science; all you need to do is to carry out proper due diligence firstly about the Promoter/ Vendor of the property, and secondly about the property to be purchased”
“Hmmm… I will appreciate if you can enlighten me more about this”
“Okay! Remember the Latin maxim, ‘Caveat Emptor’ which means ‘Let the Buyer Beware’, Not ‘Let the Seller Beware’ and hence the onus is on the Buyer of any property to verify all claims and be satisfied beyond all reasonable and ‘unreasonable’ doubt before moving ahead with the transaction. You need to verify the authenticity of the Vendors or Promoters of the land; a search at the Corporate Affairs Commission (CAC) may help to get information about the company, the names of the director or board of directors, amount of shares allotted, office address and other vital information. A visit to the Vendor’s office address will also be advisable. In essence, you need to really know who you’re dealing with. Then secondly, proper due diligence must also be carried out on the property to be purchased. You must go physically to the land you intend to buy to be satisfied with the location, the state or nature of the land, general assessment of the neighbourhood, etc. It is advisable you go with a professional in this regard, preferably an Estate Surveyor & Valuer or Land Surveyor who can assist you to get the coordinate onsite for the purpose of charting, that is to check the status of the land to know where it falls on the Government’s land use plan – whether it’s a free land or land under government acquisition. You also need to request for a copy of the title documents of the property to be purchased from the Vendor to carry out a search at the State Land Registry. The essence of this is to be sure if the title is clean or not, in order words, to know if the title is encumbered by way of mortgage or lien, or if it is free from any of these. This is very important, because in law, it is the title that grants you ownership, and this has been said to be more important than possession”
“Whao! This thing seems a bit complex o. Do I have to go through all these just because of N500,000 land?”
“Well, that’s your decision to make, however, it’s worth going through all the process to fully be satisfied about what you’re buying and to avoid regrettable mistakes later. You can also engage the services of a real estate experts. Think about this, is it not better to use about 10% to carry out the necessary due diligence than to lose the whole of the 100%”
“Hmmm… Infact, not doing so may be likened to being ‘Penny wise, Pound foolish’. It’s even better to lose 10% than 100%; that one na die o”
“Absolutely, and many have fallen victim of this kind of issues”
“But what remedy is available to such person who had already fallen victim?”
“Hmmm… You know prevention will always be better than cure, but in a situation whereby one had already fallen victim, you may need to seek the counsel of a Lawyer or a Real Estate Professional such as an Estate Surveyor & Valuer to help ‘right the wrongs’. Even, where the case is in your favour, you’re most likely to spend more to remedy the situation than you would have spent if you had done the proper thing”
“Interesting!!! Indeed, one must never take anything for granted”
“Of course, you can never be too careful when it comes to real estate investment. What people say does not matter may later become matters arising. It is wisdom to always do things properly and to always envisage the likely future outcome of an event”
“Please what other advice do you have for people like me who wants to go into real estate investment?”
“Halliday, I must first commend your initiative and decision to invest in real estate and this is because real estate is the best form of ‘real’ investment anyone can ever be involved in. Agreed, it is fraught with its own risks and often times involve a large outlay of capital, but with the right advice and counsel from the experts in real estate, the risk can be mitigated, and the reward is sure. The good thing is that you can see what you’re buying, and that’s why it’s called ‘real estate’, unlike many other forms of investment where all you have is paper asset”
“Thank you so much for this vital information and guidance. I will forever remain grateful to you. Meanwhile, can you please assist me to carry out due diligence on the land I’m talking about?”
“Sure, that’s part of our work. You can be assured of best representation and professionalism in this regard”
“Alright Steve, thank you”
“You’re welcome Halliday”
We wish you the very best in this month of July 2019.
As usual, we want to remind you that we care so much about you, and that when it comes to your real estate investment and advisory, we are always here to give you the very best service you can never get elsewhere. That is our promise, and will always be.
Meanwhile, please find below the powerpoint presentations of our current properties for sale in Lagos, Abuja and Port Harcourt, Nigeria.
Thank you.
Affordable Properties For Sale in LAGOS, Nigeria
Affordable Properties For Sale in ABUJA, FCT, Nigeria
Affordable Properties For Sale in PORT HARCOURT, RIVERS STATE, Nigeria
