I want to know between buying land from Omonile or Estate company, which is better in the long run? When you calculate the inflated land cost and permanent payment of service charge of buying land from estate company compared to buying the same land from Omonile in similar environment.

With Omonile, the price of land is cheaper and no payment of any service charge. Which do you think is economical in future?

edoman2016:
I want to know between buying land from Omonile or Estate company, which is better in the long run? When you calculate the inflated land cost and permanent payment of service charge of buying land from estate company compared to buying the same land from Omonile in similar environment.

With Omonile, the price of land is cheaper and no payment of any service charge. Which do you think is economical in future?

How many people here on Nairaland who bought land from real estate companies have been able to build on their plots?

How many companies selling land here on Nairaland with 'Excision under processing' have gotten theirs?

How many estates have valid legal documentation for parcels of land that they sell?

I'm a property lawyer and I have conducted due diligence on behalf of clients with regards to several estates being advertised here on Nairaland. Many of them don't have valid documents, some use C of Os to scam people, some aren't processing any Excision that they claim to process.

There's a particular estate being sold here on Nairaland where the company is fraudulently using a C of O not related to the land. Buyers aren't aware of this because they didn't get their own Surveyors to the site before paying. They're pouring millions of naira for an estate with phantom documents.

Unfortunately, the greatest scams by real estate companies are in the Ibeju-Lekki axis. They have packaging but they're hardcore fraudsters.

As for the Omoniles, some may land-grabbing, property reselling scammers who have defrauded many Nigerians, but there are ways of handling them. In fact, as a lawyer, I can't buy a single grain of sand from most of these real estate companies as I'll rather buy from the omoniles.

Very soon, I'll have to open some threads here on Nairaland to expose the scams being perpetrated by these Omoniles and real estate companies selling land in Nigeria.



Edit: Been getting tons of PMs regarding this issue. For those who may not be able to reach me via PM, I can be reached via Watsapp or SMS on 08063790773.

MrMcJay:


How many people here on Nairaland who bought land from real estate companies have been able to build on their plots?

How many companies selling land here on Nairaland with 'Excision under processing' have gotten theirs?

How many estates have valid legal documentation for parcels of land that they sell?

I'm a property lawyer and I have conducted due diligence im behalf of clients with regards to several estates being advertised here on Nairaland. Many of them don't have valid documents, some use C of Os to scam people, some aren't processing any Excision that they claim to process.

There's a particular estate being sold here on Nairaland where the company is fraudulently using a C of O not related to the land. Buyers aren't aware of this because they didn't get their own Surveyors to the site before paying. They're pouring millions of naira for an estate with phantom documents.

Unfortunately, the greatest scams by real estate companies are in the Ibeju-Lekki axis. They have packaging but they're hardcore fraudsters.

As for the Omoniles, some may land-grabbing, property reselling scammers who have defrauded many Nigerians, but there are ways of handling them. In fact, as a lawyer, I can't buy a single grain of sand from most of these real estate companies as I'll rather buy from the omoniles.

In fact, I'll have to open some threads here on Nairaland to expose the scams being perpetrated by these Omoniles and real estate companies.

Then why should I pay 2x more of buying land from estate company when their land documents is incomplete. I could as well buy land from Omonile cheaper and get a lawyer to complete my documentation. I think all of this estate company's land are just glorified gates.
I still believe in future, buying land from Omonile offer more value for money.

Lalasticlala
Seun
Dominique
OAM4J
Mynd44
Obinoscopy

Let's hear from Nairalanders

i can't tell hoo cus me i never buy buh by the grace of God i will have my own, like to help me say Amen

Just use your head... No level for omonile

G

i bought a plot of land in ibeju lekki around November. till now my documents are still being processed. scared as hell. dey promised 3 months processing

.

Praise Tha Lurd

edoman2016:
I want to know between buying land from Omonile or Estate company, which is better in the long run? When you calculate the inflated land cost and permanent payment of service charge of buying land from estate company compared to buying the same land from Omonile in similar environment.

With Omonile, the price of land is cheaper and no payment of any service charge. Which do you think is economical in future?

Buying land from omonile will be better o my brother

MrMcJay:


How many people here on Nairaland who bought land from real estate companies have been able to build on their plots?

How many companies selling land here on Nairaland with 'Excision under processing' have gotten theirs?

How many estates have valid legal documentation for parcels of land that they sell?

I'm a property lawyer and I have conducted due diligence im behalf of clients with regards to several estates being advertised here on Nairaland. Many of them don't have valid documents, some use C of Os to scam people, some aren't processing any Excision that they claim to process.

There's a particular estate being sold here on Nairaland where the company is fraudulently using a C of O not related to the land. Buyers aren't aware of this because they didn't get their own Surveyors to the site before paying. They're pouring millions of naira for an estate with phantom documents.

Unfortunately, the greatest scams by real estate companies are in the Ibeju-Lekki axis. They have packaging but they're hardcore fraudsters.

As for the Omoniles, some may land-grabbing, property reselling scammers who have defrauded many Nigerians, but there are ways of handling them. In fact, as a lawyer, I can't buy a single grain of sand from most of these real estate companies as I'll rather buy from the omoniles.

Very soon, I'll have to open some threads here on Nairaland to expose the scams being perpetrated by these Omoniles and real estate companies selling land in Nigeria.

Scammers everywhere. A state of EMERGENCY should be declared. Times are understandably hard, but is scamming the way out of hard times. I just DONT GET IT!

Thanks for this summary, you've just helped me escape being scammed. I was beginning to consider one of these numerous ibeju-lekki sweet gimmicks

Abeg make una drop more contributions. this is a very serious issue

Omo onile..

Just confirm the authencity of the omo onile

MrMcJay:


How many people here on Nairaland who bought land from real estate companies have been able to build on their plots?

How many companies selling land here on Nairaland with 'Excision under processing' have gotten theirs?

How many estates have valid legal documentation for parcels of land that they sell?

I'm a property lawyer and I have conducted due diligence im behalf of clients with regards to several estates being advertised here on Nairaland. Many of them don't have valid documents, some use C of Os to scam people, some aren't processing any Excision that they claim to process.

There's a particular estate being sold here on Nairaland where the company is fraudulently using a C of O not related to the land. Buyers aren't aware of this because they didn't get their own Surveyors to the site before paying. They're pouring millions of naira for an estate with phantom documents.

Unfortunately, the greatest scams by real estate companies are in the Ibeju-Lekki axis. They have packaging but they're hardcore fraudsters.

As for the Omoniles, some may land-grabbing, property reselling scammers who have defrauded many Nigerians, but there are ways of handling them. In fact, as a lawyer, I can't buy a single grain of sand from most of these real estate companies as I'll rather buy from the omoniles.

Very soon, I'll have to open some threads here on Nairaland to expose the scams being perpetrated by these Omoniles and real estate companies selling land in Nigeria.

Bros I must say tank u very much
my snr Bro is planning 2 buy from 1 of all dis real estates cos he said he don't want omonile wahala

what a silly question

Sniper12:
i bought a plot of land in ibeju lekki around November. till now my documents are still being processed. scared as hell. dey promised 3 months processing

Send me an SMS on 08063790773. This nonsense must stop.

Try omo onile at ur own risk

A lot of Land sale adverts and posts have swept off the internet by self acclaimed Estate agents and companies with juicy offers and cheap prices. In the circumstance, prospective buyers are in a bid to procure the land unverified. May i relate with you that once you make your payments, the estate companies with default land documents then move to the next available victims, leaving you to engage in unwarranted expensive court litigation.
Before you engage in a landed transaction, make sure you secure the attention and legal advice of a real estate solicitor to help in negotiation, search, verification, and probably proper execution of your final documents. Dont be appeased by a mere receipt as its inadmissible in court as a proof of title to land. Though the lawyer will charge his professional fees, but its quite unquantifiable to the subsequent loss you will incur on the entire land, when you have realised the land is fake.
For further enquiries, contact any of your lawyers or you can rather reach us on 08068088866 and 09090803205. Thank you. Its Barrister Ayo Aderinto, Nigeria.

hmmm

Omonile

Sniper12:
i bought a plot of land in ibeju lekki around November. till now my documents are still being processed. scared as hell. dey promised 3 months processing

Hummmm me too oooo. Still waiting . Na wa. Nothing ever straight forward in Nigeria

wahala nko

The two has its advantages and disadvantages,
First of all never buy land from any estate company that doesn't have a name to protect. Its harder for some known names to deceive on the kind of documentation the land has, But the issue is the lands are usually pretty expensive, over priced and so many hidden charges.
While buying lands from Omonile seems cheaper but the issue with this is your land can be taken back from you if someone offers more money. Also Omonile comes with with so many other payments every other day.

For a starter that doesnt have time to check on his property every now and then, i would advice you to start with geneuine and well known estate companies

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As risky as omooniles are, the real estates side is riskier...

See mumu question.

Many people can distinguish between Registered Real Estate companies, certified ESVARBON/NIESV and local agents who claim to be estate agents.

When you deal with chartered surveyors
Like Jide Taiwo and Co
Ismail and Partners
Ubosi Eleh and co
Diya Fatimilehin
Osas and Oseji

You'll know its an error dealing with local agents and Omo onile

Victornezzar:

Bros I must say tank u very much
my snr Bro is planning 2 buy from 1 of all dis real estates cos he said he don't want omonile wahala

My advice is that he shines his eyes very well.

I had a client who wanted to buy from them. I conducted due diligence on more than 6 real estate companies before we were able to get one with manageable title.

Many Estate lands are scam. You will pay like house rent if you build finish because of many hidden charges and yearly charges. It is just like paying house rent again by the time you add all the charges on top of your own house. If it is individual plots within an estate , and the management is weak or no management, just individual buy and build, you might be safe. .omo onile can still be controlled and managed. But those big estate management will milk you dry.

Real estate coy is far better in the long run., esp if your buying a land located in an estate. The coy deal with every stress or challenge faced.
Also, you don't have to start developing the land immediately after purchase. you can keep it, pending when you're ready.

You will get land u can't do anything on... Not even resell or build at will when u procure from estate agents in fact ... Ure only funding real estate company by buying from them. Ure paying for land they might not even acquire in say 5yrs, to be conservative. And yet they make u pay numerous hidden charges.
Buying from omo onile.. I think it's better.. Do adequate research and meet with community leaders that matter before buying.. It's worth the risk! Lagos is actually arresting omo onile now... Good news

Na estate agent sure pass.

i feel when we finally want to build on the so called land in ibeju lekki(5-10 years ). the omo niles will take us to court that a fake omo nile connived with the estate agents. estate agent wud have taken off.