10 Questions You Should Ask Before You Buy Land in Epe

Are there questions you need to ask a realtor to know if you should buy land in Epe or not? The answer is yes. 

Epe is one of the fastest-growing real estate investment locations in Lagos. The attention of every investor in the Lagos real estate market has turned towards the area.

And because of this, many people are involved in shady business deals that lead to investment loss.

So in this article, we will look at 10 questions you should ask before you buy any property in Epe.

1. What is the land purpose/zoning?

Epe was originally a rural area. Most of the land in Epe was classified under agricultural use because the predominant occupation of people there was fishing and farming.

The status of the land is an important consideration before buying. If the land is agricultural, it is suitable for farming or other agricultural purposes.

However, agricultural land should be avoided if the land is intended for residential or commercial use. This is because the status of the land needs to be converted from agricultural to residential use, which can involve a lot of back-and-forth before construction can begin.

2. What is the land title?

You have to ask and ensure that the land you’re trying to buy has a good title. You must verify that the land has perfect titles, such as Certificate of Occupancy or Governor’s Consent, which are hard to come by in Epe.

If you cannot obtain a C of O land or a Governor’s Consent land, you can consider buying land with a freehold or registered survey title.

You need to register the land in your name with the Lagos State government.

You should also know about certain land documents, which include:

Certificate of Occupancy (C of O)

This is an official document issued by the government in Nigeria. It certifies an individual or organization as the legal owner of a property.

Governor’s Consent

The first allottee of land through a Certificate of Occupancy is the only person entitled to that c of o. Every subsequent buyer that buys the land from the allottee must get a governor’s consent.

Deed of Assignment 

The deed of assignment is a legal document that transfers the interest of the current owner of a property to another person after a successful transaction.

Also Read:

• 10 Reasons to Invest in Epe Real Estate
• Different Communities in Epe and Various Investment Attractions
• 10 Serious Mistakes Investors Should Avoid When Buying Land in Epe

3. Is it a committed land?

You have to ensure that the land you’re trying to buy is not committed. Land in Lagos can generally be classified as free land or committed land.

A committed land is a piece of property that the government has earmarked for specific purposes like schools, hospitals, recreational centers and service centers.

If you fall into the trap of buying a land that is committed, you will never be able to process a title in your name on that property.

4. Has the title been revoked?

This is one of the most important questions you must ask before you buy land in Epe. Ensure that the land you’re trying to buy does not have a revoked title. Sadly, many people overlook this crucial documentation aspect. 

When the government revokes a title, it means they had previously allocated it to an individual or developer, but issues arose, prompting the revocation. To avoid buying a property with a revoked title, conduct thorough due diligence.

5. Is it a dry land?

There is nothing really wrong in buying land that is not dry. In fact, some people prefer waterfront properties or properties that are really close to water bodies because of how they offer capital appreciation and return on investment.

If you’re buying land that is not 100% dry, you must bear in mind the additional costs that come with buying a property that is not dry, as the construction cost may be enormous.

6. What kind of survey does the land have?

It is important to know the type of survey you are paying for when purchasing a property.

There are two major types of surveys in Lagos. There is a provisional survey and a registered survey.

A Provisional survey is a preliminary, non-legal document that provides basic information about a piece of land. A registered survey on the other hand means that your survey copy is actually signed by the Ministry of Land.

When you have a registered survey there are no restrictions in perfecting your title or building on your piece of land, while a provisional survey doesn’t grant you this privilege.

7. What are the available infrastructure?

Ensure that when you are buying a property, you also ask about the infrastructure.

Ask about the access road, electricity, water system, transportation system, and waste disposal system.

These factors contribute significantly to a property value and ensure that you get a return on investment.

8. What is the topography like?

Lagos is a coastal city, which makes some parts of the city prone to flooding. Although Epe has a good topography, it is important to check if the area is prone to flooding.

Ensure you inspect the area during the rainy season or ask around the neighborhood to be sure you are not buying land in a flood-prone area.

9. Are there building restrictions?

Before you build, ensure you have building approval from the state government or the land comes with building approval.

Building on land without approval can be demolished with compensation, leading to a loss of investment. You also need to know if certain building restrictions apply to the area you are building in. 

10. When can I build? 

Some land in Epe are buy and build, meaning when you buy, perfect your title, and complete all your payments you can begin building. There are no restrictions.

While other lands are investment properties; meaning you buy them for land banking purposes. So you need to be sure that the kind of land you’re buying is suited for what you need at that point in time.

Also Read:

• How Omonile Land Scams Work in Epe [Uncovered Secrets]
• How Lekki International Airport Will Impact Real Estate Investment in Epe
• Difference between Deed of Assignment and C of O in Nigeria

Conclusion 

Finally, investing in Epe is a wise decision, given its promising future in the Lagos property market. You must ask these questions when you want to buy land in Epe. These questions will help you make informed decisions that can protect your interest as a buyer.