Forget Omonile: Buying Land From (Some) Estates Have Serious Risks Too

Some Nairalanders were discussing wether it is safer to buy land from estates with c of o, than from Omonile. It is widely believed that buying from estates is safer than buying from Omonile who can resell your land to 2 or 3 people if you don’t start building immediatly. But from what someone posted, it seems buying from the so called estates can also be risky:

Yes Omonile can be dodgy, but if you consult a lawyer who knows how to deal with them, you are sure of your land delivered to you.

On the other hand , a real estate company is a scary deal. Why?

How many real estate coy will show u the terms and conditions guiding the estate before you make payment?

ahow many of them have documents that you can use to verify ownership at the land bureau?

In the end, even if you buy from a genuine coy, you will be indebted to them for life!!!!

You will pay
-development fee
– estate management fee
– you will be told how to build your house
(color,shape)
– some restrict the use of pets (no dogs nor cats)
– some don’t allow the use of generating sets leaving you at the mercy of phcn
– Your light bill could be crazy if phcn does ” secret collabo” with the estate CEO to milk residents there. etc

#Omonile better pass abeg

The best thing is to go with a good lawyer, whichever option you choose, and do your due dilligence. In fact, read at least 3 pages of the thread, as it is dripping with great advice.

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