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PROS AND CONS OF BUYING AN OMONILE LAND OR INTO A REAL ESTATE DEVELOPERS ESTATE

The truth about land scams

  The rate of land scams in Lagos, Ogun, Port Harcourt and Abuja is getting extremely alarming and buyers these days are so weary of falling victim to Evil people parading as Land owners but in reality the land they claim to own and intend to sell belongs to somebody else.   Property buyers are so confused as to the type of property they intend to purchase because the system is so rotten coupled with the problems that accompany living in a rented apartment . Buyers have become extremely desperate to own lands not minding the cost, location or documentation issues that might arise thereby making these Land fraudsters get  bolder to defraud people.   It now begs the question what kind of land is better to buy? An omonile land or buying into an Estate. Both of them have their own advantages and quirks but I would try my best to differentiate them to the best of my knowledge :

Why You Must Take Possession Of Your Land Immediately You Pay

One of the gravest mistakes Land purchasers make when they buy a Land in Lagos or Ogun is lack of planning to take possession of the land they paid a hefty sum for. We get emotionally attached to the location, the seller and the cost of the land  without considering the fact that this is Lagos or Ogun.   Where these wicked and Dangerous Land Fraudsters have no ounce of Human sympathy when it comes to defrauding innocent land buyers because we fail to take the first and most important step which is securing the land.   75% of land cases can be traced to trespass on empty virgin lands because the buyer has happily bought the land but intend to fence or commence work on the land at a later date. These evil Land Swindlers secretly patrol these vacant lands and once they see a land without any form of protection, they immediately work out modalities with their hence men to market and re sell the land to other unsuspecting buyers who would easily believe the land is a virgin land.    

Word of Advice

Personally i have lost 3 lands in the past because i wasn't buoyant enough to both buy a land and fence it at the same time and i hoped the land would still be waiting for me after 4 months of purchase but three times consecutively my lands were re-sold to different people and it put me at odds with these trespassers for years.   With this in mind, i would advise you on the steps to take to take possession immediately so you don't suffer the same fates i experienced.

What if Omoniles have actually stolen your Land and have Resold it to another person who has started building? What can you do to prove ownership?

What to ask yourself?

  What if you are already a victim of Omonile and you have already being been defrauded off the land you saved Millions of Naira to purchase or you just discovered that your land has been sold to 2 or more people, or the documents that you possess concerning the title to that land has been discovered to be forged or fraudulent, or you have left your land unattended to after you bought it and the day you decide to go and clear the grass you see another person has started foundation work on your land or even the land you bought legally with no complains at all and when you begin work, your workers call you that somebody has brought some thugs to pursue your workers claiming true ownership of the land and the person is banding around an old purchase receipt given to him by the family head he bought from in 1978 etc? How do you solve this mind destabilizing issue instantly and beat these dubious criminals in their own game?

Shine Your Eyes and Know the Full Cost of Buying an Omonile Land before you go Bankrupt

When i bought my first land from an Omonile some years back i was totally naive about the ways and customs involved in buying a land in Lagos. I thought it was a straight cash and carry business and that was it. Little did i know my pockets would be further drained by so many mundane local fees that should make the Tax office jealous.   The more i protested, the more the unexpected and unplanned fees kept coming till i almost regretted buying that bloody land when i wasn't ready. Back then, i had no one to educate me about the perils of buying a land without knowing the fees involved and now that i know, its my pleasure to share them freely with you so that you don't blow a hole in your pocket like me.     So please take note of the following costs below:   a. Full sized cost of the plot of land: It’s imperative to know the true cost of the land from your Agent even before you go and see the land. Don’t assume the price will arbitrarily drop because you’re putting pressure on them to sell, rather you will be shocked that these Omoniles will increase the price of the Land when they see your desperate.   They will come up will all sorts of  eye brow raising excuses to push you to buy it quickly. My favorite all time Nonsensical skin crawling excuses that never seem to get old include the following:

THE EVILS OF BUYING A DECEASED LAND WITH NO WILL

A Land With No Will?

  What happens when you intend to buy a land or property but you later discover that the original Owner of the Property has died without writing a will and has left a host of children, wives, extended relatives or close friends behind that are all interested the property as the new owners? Who then has the capacity to sell that property to you?   Well this is a regular occurrence as regards the issue of the sale of landed properties of a deceased more especially in Lagos and Ogun State and this has led to a lot of lawsuits, pain, false claims of ownership, family battles of the land of the deceased, loss of money etc.   So many buyers have had their fingers burnt buying lands or properties from people who claim to be the authorized representatives of the deceased only to later find out that they have bought that land from the wrong representative.     Examples of how that problematic land that you are about to buy left behind by a deceased who did not give instruction as to who owns the land can affect you and wreck you financially if you don’t watch out for these scenarios include the following:

YEE PAA!!! OGUN STATE SET TO DEMOLISH THOUSANDS OF HOUSES. IS YOUR HOUSE ONE OF THEM?

It has finally happened. I have been warning Nigerians especially the good folks of Ogun State living at home and abroad for years to stop buying bad lands with questionable issues and Government amenities surrounding it and I have been brushed aside as a doomsday sayer now the chicken has come home to roost.   The Ogun State Governor, Senator Ibikunle Amosun, has decided to demolish all the Houses in Ogun State built under High Tension Cables and right of way.

Who Else Wants to Know How to Avoid Paying the Dreaded Omonile Signing Fees?

Omonile Signing Fees Again?

  One of the greatest Scourges associated with buying an Omonile land is this dreadful affliction called “OMONILE SIGNING FEES to sign a Deed of Assignment" so as to drain the pockets of buyers. Nothing inflicts a greater pain and evokes more emotions as much as this topic when it comes to buying Land in Lagos or Ogun State.   These Omoniles have devised a method to establish an alternative Land taxation system whereby they do everything possible to grab as much as they want financially from a prospective buyer.   They invent all sorts of stupid, idiotic and devilish fees to scare the buyer and make it mandatory to pay these fees no matter how absurd it sounds. Truth of the matter is that it’s nothing short of a day light robbery to frustrate a buyer for their own selfish means.   These fees they coerce buyers to shell out end up in the pockets of Village Chiefs or influential members of the community to expend for their own selfish gain. They use the money to drink Ogogoro, settle outstanding debts or marry new wives.   The enlightened ones amongst them see this as a get rich quick avenue to buy new clothes, buy flashy cars to pose around town, wear swanky clothes and generally show their mates they have arrived. This stirs up some form of jealousy in the other communities and they quickly set up a committee to draft a higher price list that should cripple the buyer financially who is interested in buying a land in their community.

Why a Survey Plan Search is most Essential Land Check you must carry out before you buy a land

A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor general in Lagos as it relates to survey issues in Lagos.  

A survey plan must contain the following information:

1. The name of the owner of the land surveyed

2. The Address or description of the land surveyed

3. The size of the land surveyed

4. The drawn out portion of the land survey and mapped out on the survey plan document

5. The beacon numbers

6. The surveyor who drew up the survey plan and the date it was drawn up

7. A stamp showing the land is either free from Government acquisition or not.

 
A Sample copy of a Survey Plan and the features it should have before you carry a search on that land

A Sample copy of a Survey Plan and the features it should have before you carry a search on that land

 

How To Make Sure Money You Send From Abroad To Buy A Land Doesn’t Get Embezzled by Family members or Friends you trust

For a while now, i have waged a relentless war against fraudulent land sellers called Omoniles especially in those in Lagos and have tried to expose all their deceitful practices to dupe people off their hard earned money.   But today I'm going to change course to raise awareness on another way people are being duped concerning landed issues and this particular  kind of Land Scam is dedicated to our Brothers and Sisters Abroad slaving themselves to send money back home to their family members to help them purchase a land or build houses on their behalf only to finally come back home to see that the money they have sent back home has either being squandered stupidly, spent recklessly and the money has being used to develop THEIR OWN PROPERTY INSTEAD OF YOURS or simply that the Money has vanished into Thin Air.   In most situations where this family embezzlement has occurred, there neither will be no land purchased by the family member that was sent money to help buy the land.   Even if the land was purchased, no due diligence was carried out as per se as to validate the authenticity of the land or the description of the land given to the person abroad is totally different from what has been purchased.   I have heard cries of people coming home to see lands that have being purchased for them located inside the bush that is only fit for Monkeys to occupy. Some complain that their families buy extremely water logged lands that will make them spend so much money to sand fill.   I have also heard of the ones that those kind of lands that the Omoniles will continue to drain the pockets of the person due to silly community fees that they are not conversant about until they give up the land.   My favourite is always hearing stories of lands purchased by a family member that they cannot locate afterwards and the buyer is going about holding a receipt of a land that he cannot verify.

Next Mail: What are the Pros and Cons of Paying for a land through Installments? What’s your advice so i don’t get Defrauded like my Friends doing it who are still complaining?

The Answer to the above question can be deduced from this True Story and please read carefully so that you learn from this issue:  

Short Story...

  A friend of mine from my University days decided to buy a land at Aboru around the Iyana paja side of Lagos and they were selling the land to him for around N1.8Million or so. Now he had N1 Million in cash and was so desperate to get a land.   So he contacted an agent who introduced him to the Seller and the Baale of that area. They told him that he could pay the N1 Million and balance the remaining N800,000 within 3 months.   He was very happy with the arrangement and paid the N1 Million asking price. The following month he brought N350,000 so as to remain a balance N450,000.  To his surprise 2 days after he had paid the N350,000 he began to hear  stories that the baale said the land was sold too cheaply and it ought to have been sold for N2.5Million instead of N1.8Million and that the family members have been complaining seriously about it.   He was in shocked and rushed to beg the baale to honour his agreement and after several quarrels and persuasion the baale finally agreed to settle for N2Million. He brought the other N450,000 to make it N1.8Million and promised to bring the remaining N200,000 soon so that they will give him a receipt for final payment.