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Facts You Don't Know About Real Estates Hidden Charges - Properties - Nairaland

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Facts You Don't Know About Real Estates Hidden Charges by Folayat(f): 5:33pm On Jan 14, 2022
WHAT ARE HIDDEN CHARGES ?

Statutory fees popularly called hidden charges by people are not hidden as they are clearly stated in subscriber forms, FAQ/Terms & Conditions of any interested property.

Statutory fees are customary fees paid when land are purchased. The fees are�

*Deed of Assignment Fee* For transfer of ownership from estate developer to subscribers.

*Survey Fee* This is use for mapping out the portion of land paid for. This goes to the Government and it's varies from one location to another.

*Development fee* This fee is meant for development of infrastructures within the estate such as Electricity, Perimeter fence, Good road network, Drainage system, Special amenities, etc.

When you buy land directly from landgrabber, you pay for survey, engage the service of a lawyer to draft an agreement, you pay landgrabbers (omonile fees ) which is unpredictable, such as foundation fee, decking fee, roofing fee, fencing fee and money for youth which can range from 300k to N3m total package.

Also before you can get electricity you have to pay money to the CDA to connect light into your house, you also need to do fence and gate.

Sometimes, if you do not develop your land under six months landgrabbers can sell your land to someone else and relocate you to the next available place you don't like.

*WHAT THE STATUTORY FEE WILL DO FOR YOU*

�� Saved you from the stress of landgrabbers issues and unnecessary fees like foundation fee, decking fee, etc.

�� You get an Interlocked street and well layout estate.

�� Good drainage system

�� Electricity & Street lighting

�� Secure gatehouse and perimeter fence.

�� Save you excessive documentation fee. Most lawyer's ask for 5% of the cost of land)

�� You get your land survey done at a discounted fee.

https://naijatrustedrealtor.com/

Contact us on 09031815426 for enquiries on real estate matters

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