How to Sell your Land Property Fast in Abuja


Selling of land is usually a more complicated process than selling developed property. When you sell a land property with a building, its use and value is established by the building and other structure on it. Before buying undeveloped land, most buyers will want to investigate what they can do with it to determine what it’s worth. At the same time, the buyer pool for land is usually lesser than the buyer pool for developed property. With this in mind, selling land quickly in Abuja requires unique strategies.

Step 1
Hire an appraiser to determine the value of your land if you don't have the knowledge to do it yourself. Without knowing the worth your land, it will be difficult for you to assess the strength of the bargains that you receive. The assessment will also determine the highest and best use of the land, and you can use those facts to target your marketing activities.

Step 2
Put a large "For Sale" sign on a noticeable part of your land and include your telephone number. Although signs don't always lead to fast sales, they're worth trying. In addition, a sign repeatedly generates calls when it initially goes up.

Step 3
Contact the landlords of surrounding parcels of land to determine if they want to buy your land. Occasionally, a land owner will want to increase the size of his/her holdings. If your land has access to a road, water or another valuable feature, it can be mostly valuable to a neighbour whose land does not have that attribute. Your neighbours are also very familiar with your land, the area and its prospects, so they should be able to decide more quickly than a remote buyer or someone who is not familiar with the parcel of land.

Step 4
Present your land to possible users. For example, if your parcel is located where houses are currently being developed, home builders would be potential buyers. On the other hand, if your land is covered with timber in an area that is being logged, timber logging companies may be the paramount buyers.

Step 5
You may consider selling your land to a speculative investor. Many areas have investors that are willing to buy just about anything as long as it is cheap enough. These investors can close deal quickly, but will frequently offer you a very low price for your land. That's how they're able to move so fast in any transaction, they are getting a great deal. Those kinds of Investors usually won't require you to finance the land for them.

LAND SALE PROCEDURE


The person who owns and wishes to sell the property would contact the experts in property management where an agreement is made in the presence of the regulatory organisation. Afterward, the property agent takes custody of the property and aids to sell the land on behalf of the seller.

VERIFICATION OF PROPERTY

An agreement (verbal or written) between the land owner (seller) and the property agent is very important in this aspect, as the agent will help verify the availability of the said property to be sold. The verification of property involves a legal search via the Abuja Geographical Information System Office (AGIS).

LEGAL
BACKUP PROCEDURE

In Abuja Nigeria, the norm of “Law of Contract” is very much regarded; this is principle you need to follow if you want to sell your properties.
              The Law of Contract in selling property in Nigeria includes:-
Letter of request – a letter to the estate/property agent from the owner of the property (seller) requesting the agent to represent him/her in selling the property.


MUST I TRAVEL TO NIGERIA TO SELL MY PROPERTY? NO

However there are quite a lot of property agents in Abuja who can sell your property on your behalf. You do not need to be actually present to close any transaction; nevertheless, you must be careful and make your transaction known to the Nigeria Institute of Estate Surveys and Valuers to escape fraud. These are the most important things you have to bear in mind when you are selling real estate property in Nigeria.



16 comments:

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