What are the hazards attached to buying a house that has incomplete documents?

[Donolatunji]

In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.

 

[Kayzzy3]

In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.

This is a very important question as much as it has obvious answers many are tempted to buy things that cost lower than its normal price.

Buying a property with incomplete is like doing bad business that may have grave consequences, if litigation arises you are sure to be on the loosing side because of lack of necessary documents.

 

[Sanusi]

The hazard attached to a house that has incomplete document is that the owner will forfeit the house by buying another one and also if government official cones to check your document and they found out is not complete so you forfeit losing ur property.

 

[Gilead]

I believe this statement or question is rhetorical because why would you want to buy or invest in a house that has incomplete documents this is an error in the first place. Never buy such house in the first place.

 

[Trexxxy]

I think it is important to get the documents of a property and make sure they are complete and legitimate, to avoid further conflict over the ownership of the land. There are some properties that have conflict hanging over them, it is best to avoid those properties.

 

[Kelly5]

In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.

Well, one hazard is true and Satain, that is, anyone can come out and lay claim to this very house because it is not properly documented. so anyone can come out and lay claim to it as well and that will really really spell doom for you too.

 

[Ifective]

First of all, I don't think anyone should or would want to buy a property that has incomplete document except if one doesn't have knowledge about such thing before and in that case he or she must definitely have a lawyer to cross check documents.
Incomplete documents of a landed property can be from fraudsters trying to sell another person's land. And one might lose the land if legal actions are taken

 

[Folaham]

One risk losing everything if such land have any dispute in future and there won't be enough document for the new buyer to lay claim on the property even though take over sales document are available but that won't be enough as a defense in court should there arise any legal issue in future.
I will not advise anyone to go into such business. The risk outweigh the benefits

 

[Erik4150]

Buying a house without proper documents is very risky you should avoid doing it at all cost. You could risk falling victim to scammers and fraudsters and you will lose a lot of money in the process. Without proper documents there is no proof that you actually bought a house and you could always lose the house tomorrow easily.

 

[Chizfab]

Too many to consider, you can just wake up one morning and find out that you have been scammed. That the house you thought initially was yours, was indeed a hoax. It all boils down to legal involvement, involve the law and the necessary agency before taking such buildings.

 

[chicnthin]

You would lose the property without any legal documents that could support that you are the legal owner of it. No matter how much you paid, you cannot defend it, if the original title owner and representative decides to claim the property.

 

[Zubair]

In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.

I think this is a question whose everyone should have answer. I would say that don't buy any Property without it's legal documents. Because they are more necessary than property you are going to buy. It is because you can not claim that your is yours if any miss fortune happens there. Most of the people face frauds while purchasing lands and not receiving their legal documents.

 

[Patrik]

Well, if people find out that you are working in an illegal way (because uncompleted or unfinished documents can be considered either illegal or doesn't full mean you own the house), they might take advantage of that

 

[Alexandoy]

In our case we would never touch a property that has an issue with the title. It is common knowledge here that scammers would sell you a lot or property with a fake title. What the buyer usually does is to obtain a photocopy of the title and have it checked by the property assessor's office in the city or municipal hall. When the owner is confirmed then we would require to meet the owner otherwise that is a fishy transaction that we should not entertain.

 

[Tariq Shehzad]

Be careful while buying a property with incomplete is like doing bad business that may have grave consequences, if litigation arises you are sure to be on the loosing side because of lack of necessary documents for litigation.

 

[Bart Simpson]

The hazard attached to a house that has incomplete document is that the owner will forfeit the house by buying another one and also if government official cones to check your document and they found out is not complete so you forfeit losing ur property.

 

[Setfragil]

Buying a property without the necessary documents is like buying a food that is half prepared or buying a stolen property. If litigation arises on it the property is as good as gone. No matter how sweet the deal of a property is, we should take the right channels by getting documents that's backed by the law in order not to put ourselves in a very difficult situation.

 

[Ralphjoe]

Buying houses that has incomplete or no document is a very big risk that nobody should take. So many problems may arise in that house because there are no document to prove ownership the house. Some of the problems that may arise are litigation, dispute as to the ownership of the house.

 

[Dowenship]

In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.

Hazard ke! Abi heart attack. There are lots of properties truly that cannot be verified documentally which has put a lot of owners into troubles. When paper is been requested by the government to tender it becomes problem to them.

 

[Saba54]

Hazard ke! Abi heart attack. There are lots of properties truly that cannot be verified documentally which has put a lot of owners into troubles. When paper is been requested by the government to tender it becomes problem to them.

Yes there are hazards and loss while buying a house that have incomplete documents Becuase without documents we cannot give evidences of our property and cannot sale them further and give on rent either.