11/12/2023
Investing in Real Estate is not an easy task but that is why you have Real Estate companies which can provide you with better secure investment plans.
With the number of land scams that happen in Nigeria, most first time investors or landowners are always confused when it comes to who they should buy land from or trust; Is it the โomo-onilesโ or real estate companies?
There are few advantages of buying land from โomo-onilesโ but dealing with an omo-onile requires some special form of expertise or involvement of land experts so that you donโt get swindled.
I have listed out some advantages of buying Land from a Real Estate Company, take your time and go through them.
1. When you purchase land from a real estate company, you know who you are buying from. In the event of a land dispute which hardly ever happens, you know who to contact. Also, if any problem arises, you also know who to hold responsible as most companies are registered.
2. When you buy land from a real estate company, you are free from the dreaded omo-oniles. You have no business with them and you cannot get into their trouble. You will be dealing with professional real estate consultants who know how to deal with the land grabbers and must have settled all fees. Fees like money for roofing, money for drill borehole, money for the foundation, money for irregular things.
3. When you buy land from a land grabbers, they donโt tell you about any additional fees until you pay for the land. Then you start hearing of additional fees like signing fees, foundation fees, roofing fees, etc.
In most cases, you will keep paying some unnecessary fees until you get fed up. With real estate companies, there are extra compulsory fees that all investors pay; after paying these fees, thatโs all.
4. When you buy from land grabber you will be the one to do all documentation but with Real estate companies, you donโt have to contact a lawyer to prepare the necessary document for the land transaction. The company does the documentation in your favor.
5. The environment or Neighbourhood will be planned.
The real estate companies will show you their estate layout plans, key infrastructures the type of buildings they allow within their estates. So the area or place you are going to live has been pre-planned for you.
6. When you buy land from real estate companies, you donโt have to negotiate with agents or pay any agency fees.
If you were buying an omo-onile land, you may have to pay an extra percentage of the purchase price of the land as agent fees.
7. Your land cannot be stolen
When you buy land from omo-onile and you thought you had done everything right, buying from the right family and pay all the necessary fees, you still have to put some measures in place such as fencing your land, to prevent the same land grabber from stealing your land. You will be so surprised when you see them in front of your house using tape rule to measure.
8. Real estate companies offer flexible installment payment plans to people who cannot afford to buy outright land.
This could be helpful, provided you are dealing with a good company.
Donโt try installment payment with land grabbers!. You do thatโฆ it is at your own risk which you may never recover from when an issue arises.
Why?!
They will keep increasing the cost of the land whenever you are close to completing the payment for the land and when you ask for a refund of your money, they will tell you to wait till they sell other lands; which may never happen. Your land cannot be resold
9. Your land cannot be resold
You know what, when my friend was gisting me about one of the issues he faced with land grabbers is reselling the same land he had paid for. He said he paid double again for the same land he built his house.
When you buy from real estate companies, you can rest assured that your land can never be resold even if you pay in installments.
You canโt be assured of this if you buy from land grabbers.
10. You worry less about survey and documentation.
The company handles the survey and development such as drainage, roads, light and all that.
You are however required to pay some fees for survey and development which is usually lower than what youโd pay if you did all that yourself.
In conclusion, There are also real estate companies that are actually fraudulent and act as land grabbers too. All they want is sell and after selling their lands they donโt care about the future of clients.
It is important you do research about a company, its management, and customers history before making decisions.
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Naija Land & Property Consultant
