Omo Onile In Lagos: 3 Hidden Facts You Must Know
Buying a Land from an Estate developer and Omo Onile in Lagos Nigeria – The risk of
Omonile in Nigeria Real Estate.
Omo Onile in Lagos : When you are ready to buy land in Lagos Nigeria, one of the biggest decisions you will have to make that will affect your investment is WHO do I buy from?
Omonile in English means first dwellers of a particular place. The omonile meaning was coined from Yoruba language meaning son of the soil
Do you buy an Omonile land or do you buy an Estate land?
The Risk with Buying a Land from Omonile
There are a number of problems associated with Omonile lands however I’ll just discuss the major ones.
Dealing with Omonile in Lagos is a very risky business. Of course not every Omonile property deals go bad. But you will be treading on a thin line when you buy an Omonile land. The biggest issue you face when you want to buy land in Lagos Nigeria is that the person selling the land to you is not the true owner.
See our recommendation for a property free from Omo Onile: THE GEMSTONE – BEACHFRONT
In which case you risk losing the land or having to pay again for same land to the true owner or the person now making a claim to it as the true owner.
You would have to put up with annoying agents throughout the Inspection and negotiating experience.
Most Omonile lands have one issue or the other associated with them such as land dispute cases, family dispute cases, resale of another person’s land, buying lands that belong to the government etc hence except you’re ready to hire an Omonile lawyer to conduct due diligence on them before you buy you are likely to lose your money.
When you buy from Omonile in Lagos, you have to pay for everything such as your own survey fees, legal fees, agency fees, Omonile signing fees, foundation fees, roofing fees, drainage, Nepa etc
Even when you do everything right such as conducting due diligence, buying from the right person and paying all the necessary fees, you could still lose your land except you build a fence to ward o criminals and trespassers from stealing your land.
Event then that doesn’t end your worries. Until you complete your house you will have to remain vigilant in checking on your land. Any form of complacency or negligence would only lead to criminals reselling your land. I have seen this happen.
Buying an Omonile Land means you have to be tough and take no nonsense otherwise these miscreants would rob you on your land.
- Of course it’s not all bad news. Buying from Omonile has some pros too. The option of Omonile gives you more options of location, size and cost. The transaction could be easier too in that it could be closed in a day since there’s less protocols. However can you really handle the problems we’ve discussed above that comes with buying from Omonile? You must be honest with yourself when you answer that question. Your own investment depends on it.
The Benefits of Buying a Land from a Real Estate Company
1. When you buy a land from real estate companies or real estate developers you know who you are buying from and most of them are registered real estate companies. So your chances of being scammed is greatly reduced. Even better the chances of you being scammed is reduced to 1% when you buy from our vetted estate partners. Contact Us here to see our vetted partners
2. The Lands are usually in an enclosed environment so you would be living with people with like minds.
3. The estates have proposed amenities so you don’t have to run around looking for blocks to build your fence, provide electricity, roads, drainage etc
4. Most estates have proposed layout to provide parks, schools, hospitals etc.
5. Buying from a real estate company means you don’t have to deal with Omoniles to pay any sort of fees to them.
6. All documentations are usually done by the Real estate company in favor of the buyer.
7. They provide installment payment plans for those who cannot afford to pay the full sum at once.
8. Real estate developers give you the advantage of paying on installment. Up to 6 months or even more in some cases. You can’t try that with Omonile in Lagos. They take their money outright.
9. Real estate companies gives you the advantage of buying while you wait. i.e you can buy now and develop in ten years in as much as you clear the area regularly.
10. Real estate companies perfect titles. Wetin concern Omonile with title…OYO
11. You don’t pay developmental levy when you buy from omo Onile, but the type of trouble they cause when you want to start building is not small and as a matter of fact you might even spend double the price you bought the land
12. Land may be cheap when you buy from omo Onile but the trouble you face after full payment of the land is unquantifiable
Wаnt tо invest in land free from Omonile in Lagos Nigeria аnd don’t knоw hоw tо gо аbоut it? Schedule a talk with оnе оf оur experts. Click thе link bеlоw tо schedule.
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