Precautions to take in Land Purchase

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Taking on a side hustle, early mornings,
late nights, no free time and huge budget cuts, all in an effort to save one
more coin towards the big goal of owning land.

You weren’t lucky to inherit a piece of
ground from your ancestors, so you made it your life’s mission to join the land
owners club. An attractive yet risky venture. You have heard of or even know
people who have been conned and became victims of land scams. Their experiences
are scary and sad at the same time. You are fearful, yet you tell yourself that
you must.

Unlike your predecessors, you promised
yourself that your children and grandchildren must and will have their share of
the earth once you cross over to the other side. You have to take the risk on
their behalf. Yes, you’ll catch the grenade for them.

Many have advised to take caution on this
journey to the elite club, but what exactly does that mean? What are the actual
precautions that one should take? Learn how to Purchase Land below;

First, take your time.  Huge investment decisions require of one to take

various aspects into consideration. Clarity on one’s investment objectives,
guides one on how, when and where one should invest. Why invest in land and not
in the stock market? What are you going to do with the land; build, farm,
expand your business?  If buying a land,
which location is suitable? Timing plays a huge role. Purchasing just before an
election or after. Consider the available offers against your objectives and
external factors both current and future, anticipated and unforeseen. What’s
the return on investment?

Keenly study documentation pertaining to
the land and parties involved. Simply put: carry out due diligence.  Visit the land registry to determine
ownership of the land. Boundary search will help you confirm the boundaries of
the land. Check the track record of the real estate company to ascertain its
credibility. Verify the identity of the broker or agent you are dealing with.
Confirm if they are licensed to operate. Don’t forget to carry out a site visit.

A common lamentation of those who have been
prey to land fraud is that they did it all by themselves. Since it’s a huge
purchase they don’t want people knowing about it. You know; let your success
make the noise for you. They wrongly interpret the need for involving
professionals in the entire purchase process. These experts can detect fraud
from a mile away and will obviously advise against a seemingly enticing deal
that’s only hot air.  One might argue
that engaging their services will make it an expensive affair. In the long run,
foregoing them as partners in the purchase journey becomes even more costly.

 

Bottom line: don’t rush the process, do
your homework and work with certified industry players. Online transaction
processes are always confirming your certainty, with yes or no prompts. In the
same way, each step of the way, you should be free of doubt. Are you sure?
That’s the constant question to ask yourself. 
It’s not easy, it’s risky but it’s definitely worthwhile.