If a Land Seller tells you the only document he has is a Contract of Sale, walk away. He has no good title to pass to you.
If the Land Seller has no Deed of Assignment that shows he has fully paid for his land from the previous owner, don't buy that land. You are only jumping from frying pan to fire. He has no title on that land neither would you also.
Most Real Estate companies especially in the Ikorodu, Ibeju Lekki, and Epe axis are fond of marketing their lands to unsuspecting buyers with only a Contract of Sale. They have no good title to pass to you neither do they fully own the land they intend to sell to you.
A Contract of Sale is an agreement between 2 or more people to do something or pay a certain amount within a specific period before a certain time before full ownership or title is transferred to the party obligated to fulfill that promise.
How is it now possible that a Seller who is owing money to complete his agreement with the original owner now wants to sell a property to you when he has not completed payment for his own lands?
What title is he to give you? That is the reason we have so many land cases emanating from those areas. Both the Seller nor Buyer don't have a good title to stand on.
Someone that is standing on one leg, is asking you to come and buy his own land that he has no full title on so that you too would be standing on one leg? Reason am nah!
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Remember this Warri Proverb: "I GET AM BEFORE NO BE PROPERTY". Be smart and shine your eyes. Don't be another Contract of Sale Land Scam Victim.
For more information, visit www.omonilelawyer.com or call us at 07036681104 or 08077943514 to learn more.