BENEFIT OF BUYING LAND FROM REAL ESTATE COMPANIES AND NOT OMO NILE
If you’re an experienced real estate investor in Nigeria, especially in the city of Lagos, you’ve most likely encountered an unpleasant experience with the most feared ‘Omonile’ during one, two, three, or more phases of land development.
Likewise, if you are interested in investing in real estate for the first time and asked a couple of questions, then you’ve probably been warned of the dangers of encountering this ‘Omonile’
Who are these infamous Omonile and why is it so important to avoid them at all costs when purchasing land?
This article will create an informal introduction to the Omonile, and further convince you that perhaps, purchasing land through a real estate company is your best option.
Who is Omonile?
Omonile is a Yoruba term directly translated to mean land owners. Omo Nile is a traditional landowner that usually claims rights over a piece of land because of the custom, beliefs, and traditions attached to the land.
Dangers of purchasing from Omonile
Over the years, the action of the Omonile has traumatised land buyers. They have been tied to a lot of fraudulent acts in the process of purchasing land.
From selling lands to multiple buyers to charging land buyers multiple unnecessary fees to milk out money from their customers for their selfish endeavours. Some land buyers have testified that these land grabbers have gone as far as using weapons and force to demand money from land owners for their gain.
In the process of land acquisition, there are three types of land:
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1. Freehold:
This land is completely free from the possibility of government acquisition and as a result, after purchase, you would have peace of mind from the possibility of the land being snatched from you.
2. General Acquisition:
Usually with this type of land, the government would have acquired the land and the only way to get the land is through allocation, ratification or through village excision (gazette).
For instance, if a family owns 10 acres of land that has been acquired by the government, the family can request for some part of the land and if the government agrees to release a parcel of the land back to the family, it is registered as village excision/gazette.
In the instance of ratification, however, the government has acquired a large piece of land and a parcel of this land can be acquired from the government for certain purposes. When this is done, it is referred to as ratification, regulation or allocation and once the government gives that land, they will not take it from you again.
Read More: Chaos ensues as omo onile (landowners) clash in Magodo Isheri
3. Government-Committed Land:
This type of land cannot be purchased from either the government or Omonile because it is allocated for a specific purpose by the government. For instance, such lands could be allocated for school buildings and hospitals.
These land grabbers can sell this government-committed land to poor unsuspecting victims who have no idea that the land is committed to government use and cannot be owned by them. Once the money is paid to the Omonile, it might not be able to be retrieved.
Although the government is working hard to curb the activities of these land grabbers, there are actions you can take to protect yourself from them. The best part is Luxury Redwood and Properties Investment Limited is here to help you.
Benefits of Real Estate Companies Over Omonile in the Purchase of Land
It is worth looking for reputable real estate companies to assist you in avoiding the risks associated with working with Omonile and the loss of significant sums of money due to excessive charges.
With Luxury Redwood and Properties Investment Limited, these are some benefits you can enjoy.
1. Freedom from dealing with Omonile
Firstly and most importantly, you would be free from dealings with Omonile while purchasing and developing land. Real estate companies would have already settled all things necessary without you having to stress out with the problems that come with dealing with Omonile.
2. Legal security
If you decide to purchase land from trustworthy real estate companies, a lot of research and investigation would already be carried out on an available piece of land before it is purchased. You can rest assured that you would not be sold land that is committed to the government.
You will then be provided with the necessary documentation stating ownership of the land to avoid any future disputes that may come up.
3. True ownership of the land
One common problem encountered by OmoNile is that they sell a piece of land to multiple people. Therefore multiple issues arise for landowners when they discover that the land they’ve just purchased already has a previous owner and the Omonile is nowhere to be found to resolve the future dispute.
With real estate companies, you can rest assured that you are the sole and legal owner of the land purchased.
4. Avoidance of unnecessary fees
Buying land from Omonile may appear to be a cheaper option but rest assured that you would eventually pay for the cheap cost in the future. Land grabbers are usually involved in collecting unnecessary ransoms from land buyers and developers even after land purchase.
A real estate agent will not be at your doorstep every second demanding payment for different and unnecessary reasons.
BUY FROM LUXURY REDWOOD AND PROPERTIES INVESTMENT LIMITED NOT OMONILE
Luxury Redwood Property Investment Limited is a real estate company that can help you fulfil your dreams of becoming a land owner.
Our company has all the necessary legal processes in place to ensure that you are the sole owner of the land and guarantees a stress-free process in purchasing and owning property.
Contact us for your question now to get started on your land-owning journey.
