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

[Olahab]

Selling a house with unpermitted work as-is might be the easiest option. However, a home with unpermitted work that is sold as is will likely need to be deeply discounted in order to find a buyer. To find out how much your home is worth with unpermitted construction, contact your real estate agent.

 

[Kelvin7656]

Immediately after buying a house or any landed property you should bear in mind that There are two ways in which legal ownership of a property can be proved. Registered Property and Unregistered Property.......So you should make sure that the house or landed property is registered and not just registered but registered in your own name as your the new owner.

 

[Eodine]

There are many dangers facing buying a house with incomplete documents of which you have mentioned an important one, government sees complete documents as a legal ownership over a property other danger may be that it might not be sellable in the future.

 

[Ayokex]

It is not recommended to buy a house with incomplete documents because it's very risky. There are some documents that can be overlooked for a certain period of time but some are very important. You stand the risk of losing a house with incomplete documents and the will result in loss of I vestments. Make sure you do your findings properly and ensure that the house you want to buy has complete documents.

 

[Aniwhyte]

Every one knows that buying a house without complete document is a very risky thing to do, in fact no sane human would use his hard earned money to buy a house without a complete document because it is very risky and such a person could loose complete ownership of the house if things went sour.

 

[Jimmie150]

Sincerely speaking that is a dangerous thing to do because in the near future you could be in danger of loosing the house as a result of incomplete documents. I would advise you don't pay for until you are able to get the complete papers.

 

[Taiwoayan]

It's very risky buying a land without proper documents, to avoid problem in future one should avoid it. We have seen people loosing their property due to take and incomplete documents

 

[Akinwale701]

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.

There are many dangers attached.. you should never try buying a house or even any real estate property without complete documents... it's dangerous. You stand a chance to lose the house should any problems occur, it's very good to verify all documents first before buying a house.

 

[Sake]

Do not. Under any circumstances buy an estate property without complete documents handed over to you, what's the reason for incomplete documents? There is probably not even the real owner and worst case scenario you will get kicked out of the property by the government or the real owners since you don't have the complete documents you don't stand a chance against them

 

[Emma Aneni]

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.

 

[Asad Ali]

I assume it's far vital to get the files of a assets and ensure they're whole and legitimate, to keep away from similarly war over the possession of the land. There are a few residences which have war placing over them, it's far high-quality to keep away from the ones residences

 

[Halexcity]

There are hazards attached to buying properties without complete documents. Firstly the another family member of the seller may come up and challenge u when the seller is no around or die since you do not have complete documents to defend your self. Another one is the seller may not be the rightful owner of the property because if the person is the owner that should be complete documents.

 

[Nurudeen]

One of the major issues in this kind of situation is that, kidnappers or armed robbers can use the building as their own how out after operation and it might just be too detrimental to the house owner because they can even injure him too if he goes to check on the property

 

[iamgroot]

It's as if you have already deposited your money in nothing if you buy a property that lacks documents. Before negotiating a close deal, make sure that the property purchased is complete and clean, not literally clean but clean to say because it is flawless and there are no cases in the past, no negative issues and the like.

 

[Greatguy1]

it is like buying a car without document-it couldou know that can I be a stolen car. Buying properties without document does not entitle you to claim ownership of the structure. Documents make it legal binding that you have control of the property.

 

[Olahab]

The Land Use Act of 1978 converted all land to State Land. The Governor of the State is responsible for the management of this land on behalf of the people. Therefore, land cannot be owned privately. The Governor´s consent is needed for the assignment of title to use, occupy, and improve property with a statutory certificate.

 

[Henrywrites]

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.

Government can easily reclaim a house with incomplete documents, if you have no strong backing to explain that you truly paid for the house. Another logic is that they will seize the house and ask you to go and find the full document before claiming the house and I don't think that will be easy to handle.

 

[Folaham]

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.

Property documents are evidence based documents backing the right to such property and when such documents are incomplete, the possibilities of loosing the property should their be any dispute in future is very high. Also, in situation where options to perfect the documents is allowed, the tendency of paying higher is huge

 

[redpogi16]

Well i don't think you should consider buying a house with incomplete documents. Because there is so many things will happen if you buy a house or lot with incomplete documents. It can be there is problem with the house will you buy.

 

[Denuola]

I don't think someone in his right senses will buy a property without getting the complete documents. Even if you don't have knowledge about such you can always go to the property accessor office in the city or the municipal hall to confirm the documents. If not you might lose the property.