Thx for the enlightenment OP, I have a question, I know of a Microfinance bank where clients/people use their Survey and Land Agreement or C of O (depending on d loan amount) as collateral, I want to know how easy it will be for d bank to take charge of the land or house if a client defaults...
I hope am not derailing the thread..

lawyer: 4. Another silent but deadly Land tax is the SERVICE CHARGE that private real estate developers levy on their prospective subscribers who buy into their Estates. Because of the scourge of Omoniles, alot of people are running to private real estate developers estates to escape that mad world of Omonile fees and their attendant wahala. These estates offer them the serenity and peace of mind that is non existent when buying a family or Omonile land but there is a catch.

In exchange for the Amenities that you are to enjoy in that estate, you are being levied either a monthly or yearly service charge. These Private real estate companies load all sorts of silent charges such as water charges, Light charges, security charges, refuse charges, maintenance charges etc and it could range between N50,000 to N1Million per annum depending on how posh the estate is. Some go as far as charging in thousands of dollars per annum and its all there in the tiny fine print of your contract of Sale given to you.

Have you ever wondered why a Contract of Sale is so bulky and filled with Legal rubbish Grammar so as to deflect you from seeing these charges and percentages that would accrue yearly? Its because if it is the first thing you see when you open the contract of sale, you will be discouraged and won't subscribe to be a member of that estate. I know so many people living in these estates groaning under the extremely high service charges that are being levied on them and they are not getting the service worth.

A way out of this is by making sure you give a lawyer your contract of sale to vet and read through before you sign anything. Ask questions about the service charges and let them know how you feel. You could be given a reduced fee so as to accommodate you in the estate but if you don't talk and choose to be ignorant, be ready to pay your children's school fees yearly as Service charge till you no longer have the strength to keep up with the Jones and pack out to Mowe/ofada.

For more resources on how to avoid being scammed by Land fraudsters and daily land related information, log on to www.omonilelawyer.com to get more details. Cheers

Hey bro, please i need some advice from you..there is 1 storey building (four 3 bedroom flats on it) been offered by its owner for sale, in the heart of benin city my home state..what kind of documents should i ask and what kind of verification papers should i ask from the owner of this property..i am a first time home owner or potential home owner (am a Novice as regard this issue)...any advice and input will be greatly appreciated.thanks

lawyer: 3. Another sneaky land tax that doesn't go into the Government coffers is the Omonile Signing Fee. This money reeks of fraud, corruption, wickedness etc but it must be paid no matter how loathsome and repugnant the who thing seems. A lot of people just rush into buying a land without knowing the attendant costs involved in buying a land from Omoniles. This signing fees can range between N50,000 to N1Million Depending on how developed and posh the area is. Apart from paying the Omonile signing fees, You would pay for Foundation fees, Community development fees and Youth Fees etc. These are compulsory fees you must pay before they will agree to sign your documents.

The best way to approach this Evil is to start negotiating the cost of these fees before you buy the land. It gives you a stronger leverage power over these Omoniles because they are looking for your money here and now and would do anything to reduce the fees. The mistake is not knowing the cost or negotiating it in advance and when they have received money for the cost of the land, they know they have you by the balls and would drive up the price of the Signing fee because they smell your desperation to sign that document.

(Picture below is an Omonile signing a receipt for a land at Ibeju Lekki after a Fee of N150,000 was negotiated before they could sign the documents.)

If you don't negotiate the money in advance and know the exact Omonile Signing fee you are to pay to the Omoniles, you will be seriously outpriced with a mandatory Omonile Signing Fee when you have purchased the land and you will have no negotiating power to wiggle through it

Hey bro, please i need some advice from you..there is 1 storey building (four 3 bedroom flats on it) been offered by its owner for sale, in the heart of benin city my home state..what kind of document should i ask and what kind of verification papers should i ask from the owner of this property..i am a first time home owner or potential home owner (am a Novice as regard this issue)...any advice and input will be greatly appreciated.thanks

Land and wahala sha!

Wow. This is so helpful.



Many regards.

@Lawyer! I will like to know if this trend is fully back after the crash before asking my question. Thank you

Thanks for the very enlghteneing write up. Now, I am much more aware of the issues around land purchase especially as it concerns Lagos.