Seasons greetings from us all at PhilNwachukwu&Associates

Seasons greetings from us all at PhilNwachukwu&Associates.
Knowing that we have you keeps us moving and constantly reminds us of  our commitment towards serving you better always. May 2017 open new doors and new Horizons to the already existing relationship that we share.

You can like us on facbook on 
https://www.facebook.com/PhilNwachukwuandAssociates/
and also view our properties for sale or letting on:
http://philnwachukwu.estateagentsng.com
Or visit our blog on http:// philnwachukwuandassociates.blogspot.com
You can also join our channel on telegram. https://telegram.me/philnwachukwuandassociates

Happy new year in advance

Happy independence day

CARRIED WITH CARE.

COATED WITH PRIDE.

DIPPED IN LOVE.

FLY IN GLORY.

MOMENTS OF FREEDOM IN SHADE OF JOY.

PROUDLY NIGERIAN ... HAPPY INDEPENDENCE DAY FROM US ALL AT PHILNWACHUKWU&ASSOCIATES .

Central Bank of Nigeria (CBN) advocates for sustainable investment in housing development

TheGovernor of the Central Bank of Nigeria (CBN), Mr. Godwin Emiefele,has advocated for sustainable investment in housing development to help mitigate the economic challengesthe country is presently facing.Fielding questions at the recent Africa’s Housing Agenda, jointlyorganised by the African Union for Housing Finance (AUHF) andthe Nigerian Mortgage Refinance Company (NMRC), in Abuja, weekend, Emefiele suggested sustainable investment into the housing sector to grow it from itsdismal one per cent contribution to the Gross Domestic Product (GDP).The CBN governor, who was represented by Mr. Ahmed Abdullahi, a Director in the bank,said if the housing sector can contribute over 80 per cent to GDP in the United States of America (USA), it can also be used to improve the economy significantly."If you look at the housing market in Nigeria and in Africa, compared to the more developed economies, you will find that the housing markets in Africa are indeed largely underdeveloped.The contribution of the housing market to the GDP in Nigeria is less than 1 per cent, compared to that of the U.S, which accounts for over 80 per cent."According to him, the housing sector in US represents the highest financial assets class in the world as it is the highest contributor to its capital market combined, adding that it represents a higher subsection of that country’s economy.He advised African governmentsto use the housing sector as stimulant to grow the economy thereby increasing its contribution to GDP. "If you look at Nigeria's 1 per cent contribution if housing to GDP, imagine what the economy will look like when it is grown to 80 per cent," the CBN governor said.However, to attain this, he said the daunting challenges and barriers facing the sector must be removed, adding "The first of these challenges is the absence of long term loan capital, which can be used to create mortgages."According to him, most of the liabilities in the banking sector are short-term liabilities, which often times are not used to finance mortgages.Another impediment to housing development, he said, is the highcost of procuring basic building raw materials, adding that housing becomes inaccessible to the average Nigerian because of the cost of building materials.Also in a remark, the Director the Public Private Partnership (PPP), Mrs. Eucharia Alozie, who stood in on behalf of the Minister of Power, Works and Housing, Mr. Babatunde Fashola, said from inception of government initiative in organised housing finance system till date, only a merger sum has so far been injected into the system.He said: "This accounts for less than 0.5 per cent of the GDP as compared to other clines like theUnited Kingdom and South Africa, due to the inability of the financial system in providing low cost finance that meets the needof low and medium income earners."While pledging the commitment of NMRC, to meeting its obligation in housing delivery, itsManaging Director, Prof. CharlesInyangete, noted that telex tent of inequality created by the crisis of affordable housing on the continent is too high a price to pay, adding that the meeting of representatives of housing development across the continent must find solutions to providing access to sustainable housing finance."The NMRC is responding to its vision to be the dominant housing partner in Nigeria, by providing liquidity and access to affordable housing finance in thecountry," he said.
Culled from BizWatchNigeria 19th September, 2016

2bedroom flat and self contained apartments in Lugbe for letting

NOW LETTING
Newly built and well finished 2 units of 2bedroom flats and 2 units of single room self contained apartments
Fully air-conditioned
Nice wardrobes
Ensuite Bedrooms with fixture toilets/baths
Spacious premises to accommodate many cars
Serene and well secured environment
Location: Behind FHA office, Lugbe
Price: N750,000 per annum for 2bedroom
N400,000 for self contained apartment
Refundable Caution deposit: N50,000
Call 08037021106,
08065366891, 08030504051 for inspection

5 bedroom Duplex for rent in Lokogoma

Well finished 5bedroom detached duplex with BQ for rent behind Pengassan Estate, Lokogoma
Price: 2.5m p.a
Call 08030504051, 08037021106, 08065366891

Fill the application form below  if interested and we will reach you 

http://goo.gl/V8lUHB

3bedroom semi detached bungalow @Sunnyvale for sale

Nicely built 3bedroom semi detached bungalow @Sunnyvale for sale
Price: 40m

4bedroom terrace duplex for sale in Kado Estate

One wing of well renovated 4bedroom terrace duplex for sale
Location: kado estate
Price: 55m asking
Call 08030504051 or 08187313359 for inspections

Commercial plot for sale in Central Area, Abuja

+4000sqms Commercial plot in Central Area near Churchgate
Price: 600m
Title: C of O

Choice Properties for sale in Abuja

1). 7 bedroom mansion with penthouse + 2 rooms Guest Chalet and Bq @ Asokoro
Price: 450m

2). 8, 730sqms industrial plot with C of O @ Idu industrial layout
Price: 45m

3). 4 bedroom semi-detached duplex with BQ @ Taslee Court behind Yoruba Mosque, Maitama.
Price: 160m

4) 4 bedroom fully detached Duplex with space for BQ @ Prime Resort Estate, Opp Games village.
Price: 75m

5) 3 bedroom terrace duplex @ Wuse Zone 3
Price: 50m

6) 2 units of 4bedroom fully detached duplexes with 2rms BQ @ Asokoro
Price: 100m each

7) 4000sqms Commercial plot with C of O @ Central Area
Price: 550m

8) 7,500 sqms mass housing plot @ Jahi by Gilmore
Title: R of O
Price: 250m

For more details and inspections, Call 08030504051 or 08187313359.

Plot of land for sale in Dape , Abuja

Medium density Residential plot of about 1,200sqms for sale
Plot is fenced round and ready for development..
Title: C of O
Location: Lifecamp/Dape behind TREM by Berger Quarters/FCT Minister's Residence.
PRICE: 25M NGN
📞08187313359 or 08030504051 for inspections.

HOW TO ACCESS AN ESTATE DEVELOPERS LOAN

This article tells you what you shouldknow and subsequently do to access an estate developer’s loan in Nigeria.It is a long process in gaining access to funds for that estate development project. Estate developers in Nigeria have one major constraint and that is the cost of acquiring land which is the first stage on a somewhat tumultuouspath to what should ordinarily turn out to be a worthy investment.  Hence, money plays a huge and vital role in any estate development project. This article reveals steps to take in obtaining an estate developer’s loan.There is no gainsaying that the cost of land in Nigeria is unusually high especially in cities like Lagos, Port Harcourt, Abuja and Enugu. How about the problem of accessing fundsfor estate developers which is a mustfor most if not all estate developers? Developing an estate is not child’s play, there’s a lot that goes into it, neither is obtaining an estate’s developer’s loan.However, if a developer can have access to funds, he may be on his way to solving a myriad of problems. You know that saying about money making the world go round right?
Albeit, some estate developers don’t even know the procedural processes involved in accessing these funds; they are unaware of what it takes to access an estate developer’s loan in Nigeria for their estate development project
Here is a checklist of what you should do to access an estate developer’s loan in Nigeria.
1.Application form with 2 passport photographs of the signatories to the credit

2.Application letter addressed to the Managing Director of the Bank/Mortgage Bank granting the loan

3.Certificate of Incorporation

4.Photocopy of article and memorandum of association of the company with certified true copy of form C02 and CO7.

5.Detailed brochure and profile of the company including:
*.List of Board of Directors( Names, Position and Profession in tabular form)
*.List of shareholding profile of the Board of Directors and others
*.List of Management staff including rank, designation, profession, qualification and years of experience
*.Technical team if different from management staff
*.List of project executed by the developer indicating location, name of Estate, house type, number of housing units and cost
1.Audited annual accounts with signature, seal and certificationstamp of the auditors fpr the previous three years
2.Photocopy of the tax clearance certificate for three years
3.Approved building and layout plan
4.Financial plan and budget including financial projections
5.Copy of title document, deed of assignment
6.Equity contribution
7.Proposed collateral security
8.The company’s board of Directors resolution to borrow signed by the chairman and company’s secretary.
9.Valuation report signed by a registered estate surveyor on the proposed project, appointed and approved by the mortgage bank
10.Priced Bill of Quantities (BOQ)/Bill of completion signed by a registered quantitysurveyor
11.Feasibility and viability development report
12.Cash flow projection stating the proposed periodic repayment
13.Project work program/plan in addition to fund release plan
14.Marketing plan
15.List of intending buyers
Any other relevant information that may facilitate quick consideration of the estate developer’s loan would be welcomed.

These are a few of the criteria and lending guidelines a typical mortgage bank in Nigeria would look into before granting loan to an estate developerThe bottom line is that the overall business and  financial risk of your business is put  into consideration when evaluating your loan application.

BENEFITS OF KNOWING THE TITLE ON A LAND

1. It ensures that you don’t go investing in a land owned by the government
2. It avoids the ugly situation of involving yourself in land under the auspices of fraudulent people
3. It saves you from any problem that may arise in future as a result of investment in a disputed land.
4. It serves as proof of ownership of a land and gives you the needed edgeif a problem suddenly surfaces in future
5. It helps you take the next line of action in processing and obtaining relevant documents which secures and gives you ultimate ownership of the land and makes it a no-go area from land thieves.In actual sense, no one can easily steal or transfer your land when there is title on the land with your name.
Also, it must be noted that road, building or any other infrastructure constructed close to your land ultimately increase the net-worth of that land. Although some land may not possess a title, it doesn’t necessarily mean that such land is suspect.In some cases, the owner may not have taken the necessary step in ensuring the title is done on the property. In such instance, it is advised that you do your due diligence on that land in order to verify the land’s authenticity and theowner’s claim to the land.In a situation where the property in question is inherited, you must verifythe rightful beneficiary and seek the consent of the head of that family.

THE 10 COMMANDMENTS OF LAND TRANSACTIONS IN NIGERIA .

THE 10 COMMANDMENTS OF LAND TRANSACTIONS IN NIGERIA .
For many, buying land is not much ofa big deal, what is more worrisome is the ease of being defrauded in a country such as ours during land transactions. There have been many cases of land scams in the past and recent times. This article highlights the 10 commandments of land transactions in Nigeria every prospecting landlord must adhere to strictly to avoid heartbreaks.Many unsuspecting victims have fallen prey to fraudsters’ who lay claim to a land that is being disputed.Land scam cases are prevalent in Nigerian’s urban cities of Lagos, Abuja, Port Harcourt, Abeokuta, Ibadan, Enugu, Warri and Calabar. Land scam artists seem to be more than real estate professionals that it becomes imperative to do your due diligence before entering a land transaction. Here are the 10 commandments of Land transactions anyone planning to purchase landed properties in Nigeria must adhere to in other not to fall prey to Land scam artist that seem to be more than the land in question.

1. THOU SHALL HAVE A BUDGET : Only having dreams of a land purchase but no budget is a huge sin in the eyeof the gods that steer the wheels of real estate. Invariably it is sinful to dream of a land purchase without a budget.No matter the amount you have saved in your bank account, always take the time to research the other fees that are usually associated with buying a land. Legal fees, agency fees, survey plan and most importantly, cost of the land depending on the location of the landand state must be taken into cognizance. Also, the cost of putting up a fence to secure your land immediately you purchase it, cost of perfecting your documents with the Government at the Land Registry such as a C of O,Governor’s Consent, Ratification fees and survey land information should be under your radar.

2. THOU SHALL DEMAND FOR DOCUMENTS BEFORE BUYING A LAND :Seriously, howcan anyone pay for a land before seeing or verifying the the authenticity of the land documents? Strange but true, I have witnessed and heard about such occurrence a lot of times. And when it does happen you would think that the culprit was under a spell when the land transaction happened.

3. THOU SHALL CARRY OUT A PROPER LAND VERIFICATION SEARCH : Ultimately this commandment is an offshoot of the second commandment. Unequivocally, do not buy any land without performing a land check on the owner, the land and the documents the person selling possesses. There are so many thingsto cross reference at this stage, more reason you must be patient andtake as much time as you want to do your verification. Remember, it is your hard-earned money that is at stake and not your agent’s cash or the owner of the property’s money. No matter the pressure that is heaped on you by these people to buy the property, it is only advisable you don’t give in to the whims and caprices of anyone involved.

4. THOU SHALL ALWAYS INVOLVE PROFESSIONALS :  Honestly, you should never go into land transactions without involving professionals. In fact, involving a Lawyer, a land surveyor and an Estate Surveyor is non-negotiable. These professionals are important to your real estate transaction.

 
.5. THOU SHALL NOT BUY A LAND WITHOUT VIEWING THE LAND PHYSICALLY :I don’t even know how people manage to do this. Why would anyonebuy anything without actually seeing what he/she is buying? Buying a property as huge as land, you should never take the risk of buying that land because of  the pictures of the land you see on social media or what you’ve heard people say about it. Seeing is believing ! No matter how beautiful or attractive the land being advertised appears please go there and look at it. Too many Real estate developers and Agents have duped thousands of Nigerians using beautifully drawn flyers promoting lands that are equivalent to Aso rockestate in choice locations, only to realize that they are dump yards not fit for human habitation.

6. THOU SHALL NOT BUY A DISPUTED LAND : No matter what happens in life, you must always trust your instinct and 90% of the time, your conscience would never lie. The truthis that many times when we walk into a scam there was a warning before the eventual duping exercise. Something tugs at your mind to warn you of the pit ahead you are walking towards. If you see things like fenced lands that cannot be justifiedby the owner or no proof of ownership, no survey plan or its layout, or there is a minor dispute that was just resolved and there are omoniles involved, it is time to wear your thinking cap and end the deal.

7. THOU SHALL NOT PAY IN CASH IN THE COURSE OF LAND TRANSACTIONS : Don’t dare! Everything must be properly documented from the cost ofthe land down to the receipt or survey fees.

8. THOU SHALL NOT EVER LISTEN TO ANY SELLER'S OPINION ABOUT THE TITLE OF LAND THEY POSSESS WITHOUT YOU VERIFYING IT :  This is a common sin people entering into land transactions commit. They listen to fake land sellers who tell their victims what they think they want to hear. They tell lies such that the land has Government approved papers such as certificate of Occupancy with no shred of evidence. When that happens just know that there is fire on the mountain. Look before you leap!

9. THOU SHALL PUT ALL THY LANDER TRANSACTIONS DETAILS IN WRITING : I really do not understand how some people purchase land yet there is no proof of the deed of assignment or contract of sale between the buyer and the seller. Seriously, can someone explain how that works? No receipt , not even a survey plan. How do you then prove ownership? What’seven your link to the owner? How do you trace him?The 3 basic things a Buyer must have when they pay for a land is a Receipt, Deed of Assignment and a Survey Plan. Without these 3 things your ownership of the land might just be temporarily because the transaction is bound to go sour one day.

10. THOU SHALL TAKE POSSESSION OF THE LAND YOU BOUGHT IMMEDIATELY : First thing you should do after the purchase of a land is by constructing a small fence around it in other to claim ownership of the land. Don’t even think of letting the land lie fallow and expect it will always be there whenever you need it.
TO BE FOREWARNED IS TO BE FOREARMED!

4 KEY ASPECTS OF LOCATION IN REAL ESTATE INVESTMENT

As in many aspects of life, the key toreal estate investment can just be location.There are a few things you can look for in the area of your possible real estate investment that can tell you some important things about the possible long-term health of your potential investment.1.  Check For GrowthIs the area you’re looking at experiencing strong population and job growth? Or is there a likelihood that such would happen soon? While the benefits of an increased local population are obvious, job growth that exceeds that population growth level can indicate a prospering community with money to spend. Areas that prosper are potential candidates for increased rent payments over time, one sure way to put you on the road to profitability with your real estate investment.With job growth comes quality of life and as qualify of life improves in the location of your real estate investment, so too grows the level of rent you can charge. It is a tried andtrue fact that people will pay more to live in an area they enjoy, so the prospect of an area growing more and more attractive will directly influence the financial state of your potential real estate investment.2. The Real Estate MarketWhat is the construction atmosphere of the area like? Areas that are seeing a boom in new home construction often experience those booms because of favorable job growth, income growth and other factors. However, for an area where building permits are outpacing new population, that could be an early indicator of an over supply of real estate that could lead to depressed prices for rent payments.The best case scenario is an area where few homes are for sale, pumping up demand, and where new home construction is strong but not out of control. That can be a fine line, but because any investment takes a great amount of homework and research, it is something that should be investigated over the course of your decision-making process on a new real estate investment.3. Closeness To A Congested City-CentreThe proximity of the property to an already congested city-centre or a town which is a bee-hive of commercial activities and fun-spot gives room for migration of people to the area or location in question. There will be a shift in population as new migrants begin to discover new grounds and possible locations wherethey can settle and still not miss out from the action or better-still be around the peak of the action where it all happens.Invariably, as time goes your investment begins to appreciate at analarming rate and prices of properties there may soon be at par with those in the city centre. Take for instance Lekki and environs which extends beyond Ajah. Imaginewhat the Ajah and environs would bein years to come.4. The Land CrunchJust as a low supply of homes on the market can produce an upwards trend for housing prices and, subsequently, the level of rent you can charge, so too can a low level of land available to build on. In an areawhere population is growing and jobsare strong, all of these new people have to go somewhere.Whenever more people want to move into an area than there are homes for those people to live in, you will see an upward slope for home prices and viable rent payments. If there is little land left to build on, those buildings that are already built will be able to charge more for their rent payments, putting your real estate investment further towards profitability and the long-term benefit of owning property in an attractive part of town.All of this initial information will not guarantee a profit on a rental property, but these are crucial steps to take when evaluating whether youwant to put your hard-earned money into a real estate property that is sure to experience the ups and downs of the local economy. Especially for properties outside of your own home area, knowing the state of both the growth of the population and the home construction industry will help you more accurately predict the future viability of your real estate investment.

Exquisitely finished and furnished 5bedroom detached duplex for sale

Exquisitely finished and furnished 5bedroom detached duplex in an Estate.
It comes with a bq, gate house, a swimming pool, well laid car porch, polished external flooring, well kept lawn.
Price: 180m
Location: Opp games village.