Buying land is a major investment. Yet, many people make costly mistakes. Here are the 5 most common errors and our tips on how to avoid them.
Mistake #1: Not Verifying Official Documents
Many buyers proceed without ensuring the seller has a valid land title. Always request a copy of the land title or occupancy certificate. This preliminary check can save you from major setbacks and protect your investment.
Mistake #2: Buying Without Using a Notary
A notary legally authenticates the transaction. Without their involvement, you risk future disputes or even losing the land. The notary ensures the legal security of your purchase and protects you from hidden defects.
Mistake #3: Overlooking Family Disputes
Some lands are sold without the consent of all heirs or co-owners. Always verify that the seller is the sole owner or is legally authorized with a power of attorney. This precaution helps you avoid costly family conflicts.
Mistake #4: Not Conducting a Boundary Survey
Without a boundary plan, you risk encroachments or disputes with neighbors. A licensed surveyor is key here. Accurate boundary mapping clearly defines your property and prevents future neighborhood conflicts.
Mistake #5: Trusting Only the Seller’s Word
A written contract, signed in front of a notary, is essential. Be cautious of sellers who are in a rush or lack transparency. Written and notarized documentation is your best protection against scams and misunderstandings.
Conclusion
Avoiding these mistakes means protecting your investment. With Foncam, you benefit from professional support at every step of your land purchase. Our expertise helps guide you in making the right decisions and securing your transaction.