I always ask myself this question, “What document or title do you get after you pay part payment for a land especially an Omonile owned land that the Omonile has probably sold to 3 or 4 people?”
Before you say you don’t have money and would like to buy an Omonile land in installments because it will suit your finances, think of the following questions I have posed below and if your still convinced that you foresee no problems arising, then I wish you the very best of luck dealing with an Omonile Seller of Land and paying him your Life savings in Installments.
General Land Instalment Payment WAEC Questions you Should please Answer for me!
1. How do you claim ownership of an Omonile land when you haven’t finished paying for the land?
2. What stops the Omonile from re selling that land to another person if someone comes with the full amount to outbid you despite you paying countless deposits?
3. What Landed Legal document do you really possess? Because:
A. You cannot claim to have a letter of Allocation because there is none
B. You’re not entitled to any survey plan
C. You’re not entitled to any deed of transfer or assignment
D. You are not covered with any C/O or Gazette
E. What if the Omonile decides to abscond with your installment deposit?
F. What if they inflate the price half way and tell you that you have to pay more but they can’t refund your deposit because they have shared it with Iya Sikira?
You’re just walking into a lion’s den because legally the only remedy open to you is suing for SPECIFIC PERFORMANCE but we both know how many years that will cost in terms of your financial resources to prove it. So I say a BIG NO to installment payment for an Omonile Land unless you want to get your hands burnt.
The police will only flog and flog and flog the Omonile and charge him to court but he will be granted bail one day and the case will go on for years till your tired but you won’t see NADA of your money.
Do not be mistaken, Omoniles land speculators are very dangerous and dubious People and it takes a wise head, Good counsel and wisdom from God for you to scale through these people. They don’t mean you well and they are only after your money. Don’t give them the small opening they crave to wipe your Account clean. Do your due diligence, save your money till you have it complete and pay for it at once. Collect your documents and be glad of your achievements.