I'll call you on WhatsApp in a minute.

PS: Will also like to hear from any Nairalander that might have purchased.

EgunMogaji:
I'll call you on WhatsApp in a minute.

PS: Will also like to hear from any Nairalander that might have purchased.

Hello Sir, quite a while, why not call my lines directly as one can't really depend on WhatsApp calls because of network fluctuations. I was scheduled to inspect the sites with remsky but I didn't get a confirmation from him. I still expect him though.

Selling

Available

Keep the calls coming

Progress Report
Sequel to the under quoted post,

AreaFada2:


@ Egunmogaji, Are you familiar with this area?


Any worries of being committed land?

I was lucky to have done thorough land checks a few years back. The land was right behind a popular Pentecostal church along a Federal Highway. It turned out to be government land, the whole area.

I felt the need to clear the air and satisfy the yearning for due diligence. I took the pleasure of organizing a meeting between myself, the Lawyer of one of the companies interested (my clients) and the land owner.
We tried to ask and get answers to the following question from the Land Owner;
1. Is there Government Acquisition on any these properties that you own?

HIS ANSWER
During Awolowo's time, He asked to be given a portion so as to encourage farmers and help market their products. According to Land Owner, His fathers gave Awolowo about 10acres to build a Garri Processing Factory. This Factory was built and is still a visible structure when you go to that area today. He then said the Government never continued use of that place until this present Administration came in. However its just about 10acres and this is not among the areas He owns. This story was like a History Class to me as I took the pleasure of listening with rapt attention. lol...

2. How did you come to own so much of these lands?

HIS ANSWER
He Smiles and then continues, '' I was privileged to have made some little money early in life and my father was one of the Baales at the time. So I asked for all those willing to sell their properties to come together as one fold. I bought from them and paid in bits till I finished paying. I also have an agreement that covered this transaction at that time. This was in the early 70s.

3. Is there a way we can trace this title from the original owners to yourself and then to your company since you transfered the title to to your company?

HIS ANSWER
Yes, there are documents to show the trail and I will make them available to Stanley.

4. Is this Company of yours duely Registered?

HIS ANSWER
Yes it is a limited liability company and i will also give Stanley a copy of the Certificate of Incorporation.

5. Among those listed as your Board of Directors, Do you have your wife (wives) or Children in case of your demise?

HIS ANSWER
Yes I have 3 of my elderly children and these will take responsibility if anything should happen to me.

6. Does your company have a seal?

HIS ANSWER
Yes we do and can be sighted.


I got all documents promised as it was delivered to me by the company secretary.

We intend running some of these documents at the State Secretariat to further understand the Status of the company and will keep you informed as to our findings

These are excerpts from the meeting we held in the Lawyers Office. I do hope it clears some concerns.

PS I have a recording of these conversations during this meeting and will to make it available to only prospective buyers who request it.



We also manage properties in both Ibadan and Abuja, give us an opportunity to manage yours. Thanks

staaan:
Progress Report
Sequel to the under quoted post,


I felt the need to clear the air and satisfy the yearning for due diligence. I took the pleasure of organizing a meeting between myself, the Lawyer of one of the companies interested (my clients) and the land owner.
We tried to ask and get answers to the following question from the Land Owner;
1. Is there Government Acquisition on any these properties that you own?

HIS ANSWER
During Awolowo's time, He asked to be given a portion so as to encourage farmers and help market their products. According to Land Owner, His fathers gave Awolowo about 10acres to build a Garri Processing Factory. This Factory was built and is still a visible structure when you go to that area today. He then said the Government never continued use of that place until this present Administration came in. However its just about 10acres and this is not among the areas He owns. This story was like a History Class to me as I took the pleasure of listening with rapt attention. lol...

2. How did you come to own so much of these lands?

HIS ANSWER
He Smiles and then continues, '' I was privileged to have made some little money early in life and my father was one of the Baales at the time. So I asked for all those willing to sell their properties to come together as one fold. I bought from them and paid in bits till I finished paying. I also have an agreement that covered this transaction at that time. This was in the early 70s.

3. Is there a way we can trace this title from the original owners to yourself and then to your company since you transfered the title to to your company?

HIS ANSWER
Yes, there are documents to show the trail and I will make them available to Stanley.

4. Is this Company of yours duely Registered?

HIS ANSWER
Yes it is a limited liability company and i will also give Stanley a copy of the Certificate of Incorporation.

5. Among those listed as your Board of Directors, Do you have your wife (wives) or Children in case of your demise?

HIS ANSWER
Yes I have 3 of my elderly children and these will take responsibility if anything should happen to me.

6. Does your company have a seal?

HIS ANSWER
Yes we do and can be sighted.


I got all documents promised as it was delivered to me by the company secretary.

We intend running some of these documents at the State Secretariat to further understand the Status of the company and will keep you informed as to our findings

These are excerpts from the meeting we held in the Lawyers Office. I do hope it clears some concerns.

PS I have a recording of these conversations during this meeting and will to make it available to only prospective buyers who request it.



We also manage properties in both Ibadan and Abuja, give us an opportunity to manage yours. Thanks

Which of the properties in question is this writ up about specifically?

I am looking at at the ones offered for N120k at this point.

EgunMogaji:


Which of the properties in question is this writ up about specifically?

I am looking at at the ones offered for N120k at this point.

This is for the properties offered without a Registered Survey, those for 350k and 250k respectively.

Happy Sunday Folks









We manage properties in both Ibadan and Abuja. Give us the opportunity of managing yours. Thanks

Thanks@staan.

Doing a seemingly thorough job. Keep it up.

If all the docs check out well, it would be interesting.

My only concern is keeping it safe from speculators and encroachers since I have no immediate use for it.

At least for 3 to 5 years.

As for the 120k acres, also try & verify the documents for it. That way people can decide which they want. Or even a mix of.

AreaFada2:
Thanks@staan.

Doing a seemingly thorough job. Keep it up.

If all the docs check out well, it would be interesting.

My only concern is keeping it safe from speculators and encroachers since I have no immediate use for it.

At least for 3 to 5 years.

As for the 120k acres, also try & verify the documents for it. That way people can decide which they want. Or even a mix of.

Thanks for the compliment Boss. My advice for keeping it from encroachment would be to have a corner piece done after survey is duly registered and C of O processed. Then you allow some of the villagers to farm on it for as long as you feel is necessary. Trust me when I say those villagers have a way of protecting their benefactors interest even beyond what you would imagine.

Progress

staaan:


Thanks for the compliment Boss. My advice for keeping it from encroachment would be to have a corner piece done after survey is duly registered and C of O processed. Then you allow some of the villagers to farm on it for as long as you feel is necessary. Trust me when I say those villagers have a way of protecting their benefactors interest even beyond what you would imagine.

Uwc sir. How much would c of o per acre cost in that area?

AreaFada2:
Uwc sir. How much would c of o per acre cost in that area?

It would be about 300k or less per acre. My sources within the ministry of lands say that the present administration have added some extra charges to process the C of O. I would give a breakdown of this later today.

staaan:


It would be about 300k or less per acre. My sources within the ministry of lands say that the present administration have added some extra charges to process the C of O. I would give a breakdown of this later today.

Thanks Sir.

AreaFada2:
Uwc sir. How much would c of o per acre cost in that area?

[b]C of O Processing Breakdown

Form Submission, Advert, Inspection and Charting is 40k
Deed Preparation is 10k
Ground Rent is calculated as 7.5naira* area of land* 5yrs
So our calculation for Ground Rent would be 7.5*4070*5yrs equals 152625
Current Tax Clearance for Buyer 50k
The present administration now collects Tax Clearance from Seller too at 50k. So lets say u are not waiting on the seller to save more time and you provide this amount. It wld sum to 100k for both parties
Capital gain Tax is 5% of the price given. Using 350k for instance it amount to 17500
Stamp Duty is 3% of given price. Using 350k too that wld give us 10500
Then Deed Registration is 20k
Total amount wld be 350625

Now here is the thing. For my clients I may be willing to alter the given price of property purchased.
We will do this by signing 2 agreements, one bearing the real price purchased, the other bearing a convenient price agreed to be presented to the ministry of lands and survey.

Pls also note that there's presently no Commissioner for lands in Oyo State. But it is believed that Since Ajimobi has been upheld by the tribunal He wld appoint one within a month or there about. The implication is that it might take a couple of months before the C of O can be ratified since it has to be passed to the Commissioner for Lands.
That's the breakdown.[/b]

staaan:


[b]C of O Processing Breakdown

Form Submission, Advert, Inspection and Charting is 40k
Deed Preparation is 10k
Ground Rent is calculated as 7.5naira* area of land* 5yrs
So our calculation for Ground Rent would be 7.5*4070*5yrs equals 152625
Current Tax Clearance for Buyer 50k
The present administration now collects Tax Clearance from Seller too at 50k. So lets say u are not waiting on the seller to save more time and you provide this amount. It wld sum to 100k for both parties
Capital gain Tax is 5% of the price given. Using 350k for instance it amount to 17500
Stamp Duty is 3% of given price. Using 350k too that wld give us 10500
Then Deed Registration is 20k
Total amount wld be 350625

Now here is the thing. For my clients I may be willing to alter the given price of property purchased.
We will do this by signing 2 agreements, one bearing the real price purchased, the other bearing a convenient price agreed to be presented to the ministry of lands and survey.

Pls also note that there's presently no Commissioner for lands in Oyo State. But it is believed that Since Ajimobi has been upheld by the tribunal He wld appoint one within a month or there about. The implication is that it might take a couple of months before the C of O can be ratified since it has to be passed to the Commissioner for Lands.
That's the breakdown.[/b]

Please note that the above Breakdown does not include any professional fee or side tips or hand greasing, if you have a knowledge of things work at the Secretariat. I gave these exact figures to give an actual insight to what the government takes.
Thanks

staaan:


[b]C of O Processing Breakdown

Form Submission, Advert, Inspection and Charting is 40k
Deed Preparation is 10k
Ground Rent is calculated as 7.5naira* area of land* 5yrs
So our calculation for Ground Rent would be 7.5*4070*5yrs equals 152625
Current Tax Clearance for Buyer 50k
The present administration now collects Tax Clearance from Seller too at 50k. So lets say u are not waiting on the seller to save more time and you provide this amount. It wld sum to 100k for both parties
Capital gain Tax is 5% of the price given. Using 350k for instance it amount to 17500
Stamp Duty is 3% of given price. Using 350k too that wld give us 10500
Then Deed Registration is 20k
Total amount wld be 350625

Now here is the thing. For my clients I may be willing to alter the given price of property purchased.
We will do this by signing 2 agreements, one bearing the real price purchased, the other bearing a convenient price agreed to be presented to the ministry of lands and survey.

Pls also note that there's presently no Commissioner for lands in Oyo State. But it is believed that Since Ajimobi has been upheld by the tribunal He wld appoint one within a month or there about. The implication is that it might take a couple of months before the C of O can be ratified since it has to be passed to the Commissioner for Lands.
That's the breakdown.[/b]

Ok, very detailed assuming nothing is left out. And hopefully no brown envelop required.

Plus 70k survey plan takes additional expenses per acre to well over 420k! Chai! Hmmmm.

The commissioner of lands matter makes things a bit uncertain though.

Thanks very much Sir.

AreaFada2:


Ok, very detailed assuming nothing is left out. And hopefully no brown envelop required.

Plus 70k survey plan takes additional expenses per acre to well over 420k! Chai! Hmmmm.

The commissioner of lands matter makes things a bit uncertain though.

Thanks very much Sir.

My advice would be that,if one has the means to do it, just do it and be rest assured. I actually thought of waiting for the next administration but I had a re-think knowing that land value will only increase and that administration may not make things easier or cheaper.
However my calculations were based on 350k, we can alter this to reduce costs

Progress

Buy

Progress

Selling

Way to go

Happy St Valentines feast day

Good morning

Keep the calls coming

Selling

Am back

Buy today

Watching closely. Well done

Buy