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OPEN LETTER TO REAL ESTATE DEVELOPERS (ibeju-lekki): Must read for Investors - Properties - Nairaland

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OPEN LETTER TO REAL ESTATE DEVELOPERS (ibeju-lekki): Must read for Investors by Legalolumoran(m): 2:49pm On May 07, 2018
This letter is long, but do well to read through.
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{I hope Real Estate Investors & Real Estate Marketers (aka Consultants) get to read this also}

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'This thing weak me'

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...and I wasn't even going to write about this before..but a part of me would not allow me to keep it to myself and have someone somewhere fall in this (or similar) ditch.

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First off, I want to appreciate those of you doing it right.

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A bold handshake to you if your documents follow in the right sequence.

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..but if you don't fall in this category of noble men, then what are your aims and aspirations

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Ask yourself!

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Last week, I was on yet another 'Land Title Investigation Duty', amongst other things.

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My client had briefed me after sending me a digital flyer about an estate land at ibeju lekki that belongs to one of you guys (IN PARTICULAR).

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I'll like to conceal the shady company's name, but it's pertinent to note that there are numerous birds in the region with same feather.. they flock together.

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However, my recent investigation was about this 'particular' company.

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A certain real estate 'consultant/marketer' has been PESTERING my client to buy from the estate.

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The 'eager-to-sell-land-consultant' said all sort (AS EXPECTED) .."I'm giving you the best deal, no other offer can be better,...the land has gazzette,..it is this and that."

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__________
Apparently, some independent marketers are not knowledgeable enough to ascertain the genuineness or validity of the title which the estate company they market for has.

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..and I get it.. it's quite understandable.

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That's why I'm often delighted to know there are seminars held here and there for these marketers..

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...but I get heart broken to know that such is merely an avenue to teach them how to reach out or bombard more people about your 'dangerous' lands.

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I get it!! You teach them how to invade social media with your products, but TRICKILY, you make the education of HOW TO ASCERTAIN quality products elude them.

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OK..my bad!! You teach them...but all you do is to define Types of documents to them without giving them practical understanding of devolution of titles.

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I don't mean to shade nobody, just laying it bare.. as someone has to say it.

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Now they know what a gazzette is, (or an excision), ....

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they know what it means when you say a survey plan is registered,

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Infact, they can define a C of O now without checking a book.

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But you and I know the truth you have cleverly hidden from these ones.



You and I know how much scam ( whether intentionally done OR ignorantly/negligently done) you still inplant even where the aforementioned documents exist...right?
(that's if you know any better)

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You and I know how risky and untidy your documents are..

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You and I know the gazzetted excision you carry about is not exclusive to you, and it's thesame several other companies carry...but of what benefit is it, if your acclaimed estate doesn't technically fall within the geographical coverage of the gazzetted excision.

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Let assume it even does, You and I know you don't have the legal right to issue a deed of Assignment (as you have been doing) to these unsuspecting buyers when all you have is a conditional contract of sale that can explode on the way (just as it has happened to some).

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I'm not even going to run through in this post the entire technicalities where most of you fail, a large number of my followings (including members of my platform) always get the BREEZE, SENSITIZATION and DIRECT UPDATES from my intermittent investigations of you crooks.

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You think the future is far? No it's not! ...and the repercussion is all coming back upon you.

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I thought you should be more concerned about building name and integrity.

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I wish I could make you realize how wrong it is to make unsuspecting buyers share from your 'business' risk without letting them aware of the perfect state of affairs

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A lot of them are getting into what they do not bargain for, simply because they OVER-TRUST you (as an estate company), and as such, unfortunately fail to investigate.

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________________________________
Ok...a quick rewind to the moment I started to request for papers from this particular company, in order to inspect.
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The secretary said she'll call her boss to attend to me.

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The boss came and brought nothing, sounding so dumb and disconnected with facts.
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"I guess you are just a figure head" ..my heart murmured.
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Then he went back in, came out after five minutes and brought a copy of gazzette that I've had since 2015 or thereabout.

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"Bros, the document I'm particular about is the one that shows NEXUS between your company and the land you are selling".... I said, putting up a face of an inquisitive fellow.

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He went in again, came out after about 4minutes with a deed evidencing sale between certain omonile families and a steel company.

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"But you said earlier that you bought it directly from the omonile family?" .



.."ok what's the Nexus between your company and this steel company?"

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He said .."there's a deed and it's at the high court"

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Whaaat!!!!

"You no even make my investigation hard at all, with your dumb responses".. I thought!

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Then he said he'll call yet another boss..and that one asked me to come in.

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Left to this 'final' boss... I should trust them because..
"we are an estate company"

"We are trust worthy"

"We have our signpost on the land legitimately"

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Arggghhh!!!

The tape of my mind was playing madam patience' hit track "wee you kip kwayet!!"

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What a disgusting shock on their faces.
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"You mean people just walk up here and BUY?" I thought to myself.

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Why are these dudes this surprised that a buyer wants to see documents by the way.

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"Oh I see, you have suddenly become so COMFORTABLE selling dangerous lands, without being questioned?"

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Pathetic!!!!

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I felt like speaking out loud ("SHUT UP AND DRIVE"wink

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"My client is ready to buy, I just need to see the document sir"..I said.

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He brought out some documents...on which there was another name entirely from the ones I saw earlier.. .and also different from their company name.

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"Aha..which company is this" ..I asked.
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"We are Still the one" he said..
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"But we rebranded"... he added, suspiciously.
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At this stage, I'd lost patience, but I brewed the energy to ask.."did you do a change of name?"
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"No..we registered another company because our former name was too long for people to call" ..he said stammering, while he was apparently fighting to not appear he has lost confidence.

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Arggghhh!!!
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In my mind, I gave this man a very hot knock on his head that is even balder than mine.

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HARRANT NONSENSE!!!!
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But I don't blame these ones...I blame buyers who gave them this much confidence.
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..buyers who thinks the era of land fraud is gone because it is an 'estate company' that is selling, without even having the slightest clue about their CREDIBILITY.

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For some estates, you are never going to be able to process a C of O because you situate right there in a committed land, and you are shouting C of O in view ..please, who's viewing it for you?
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Dear 'emerging' estate developers, what are your aims, goals and aspirations?

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Is it STRICTLY profit oriented OR also from the need to make investors get value for their hard earned money and sincerely develop the real estate sector?

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Quit displaying your lack of forsight..
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Don't set for numerous subscribers a bomb process that has no other choice but to explode in the future. (Slide your foot in the shoe and see if it fits)
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And to you that started well...rolled out estates with verifyable and accurate title, then just when you realized that you have garnered a measurable amount of trust, you STARTED TO BLEND it with lands with poor title and untidy documents..

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WHAT IS YOUR GAIN ?

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Let's do it right.

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From a concerned citizen and a very passionate voice in the real estate sector.

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#RealpathLawyer

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