Many Lagos Real Estate companies are neck-deep in this wayo practice of advertising a certain amount of land to the public only for them to over-subscribe those lands to more people than they originally own.

The scam is to push marketers to tell you that there is a limited amount of plots available for sale by the real estate company and if you don’t buy these lands within a specific time, you would lose out or end up paying more when the deadline is up.

Because you are naturally frightened that you would lose a good deal, you end up subscribing for the land and hoping for you to get allocation immediately but you could wait for months or years before you are given any land.

This trick is successful because the subscriber does not demand for the layout survey of the estate before he buys.

The layout survey must specify the following:

1. The size of the land the estate owns
2. The number of plots the estate has
3. The division of the land into various plots and blocks
4. The numbering of the plots and block

Once the estate is not willing to show you the layout, WAKA FAST!!!

If the Estate shows you the Layout, you must choose your own plot from the layout you intend to buy and agree with the estate that the land is available for sale.

The estate must also prepare a Letter of Offer stating that that particular plot and block will be sold to you once you make payment.

The letter of offer must state the exact time you would be allocated that specific plot of land.

The letter of offer must state the penalty or remedy if you are not allocated that plot of land within a reasonable period of time which should go beyond just a refund of your money.

Also ask them if you complete the payment, what is stopping you from taking possession of the land immediately before the deed of assignment and survey is ready.

Most of the time, the responses from the Estate would make you know if you are dealing with good people or land thieves.

Anything short of following this format is setting you up for problems.

Once the real estate companies realize you are one of the mumu subscribers that just pays for a land without scrutinizing their papers, they would just pencil you down as one of the ones they would be tossing around.

While other people would be allocated lands, yours may be delayed and when you complain, they would apologize to you and relocate you to a less desirous place. A refund of your money is out of the question.

Too many people have been victims of land over-subscribing by wayo of real estate companies. Please don’t let these land thieves use you as their next land scam victim. Please verify your next land purchase so you don't become another land scam victim.

You must' be getting a lot of mentions

They even have a fuel station with that name at ughelli, delta state

Thanks for this wonderful piece 👍

Good advice 👍

I usually advice my prospect to send their lawyer so they can also do their own due diligence before even thinking about making payment for the property.

Check out our luxurious line of properties on our profile page

Eunice 2348029562694

https://www.nairaland.com/euniquea

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1 phone turns off by it self after less than 6 min of use
2 phone becomes very extremely hot with less than 6 min of basic operations

Please iPhone experts, what is the problem of the phone and how much would it cost me to fix it...
Phone is also for sale incase of any interested buyer

The document usually given are
Deed of contract
Invoice
Receipt payment
Letter of acknowledgment
Deed of assignment
Global c of o

Which is better between Deed of Assignment and Deed of Sublease?

The deed of sublease is for 99 years and subject to renew at expiration on the sub-lesssor's term which include renewal fee to be determined by the sub-lessor.

The deed of assignment does not state any renewal except that the C of O is 99yrs that can be renewed with govt. according to land use act of 1978.
SURVEY PLAN: is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land.

• EXCISION: An excised land is a land that has been released by the government to the indigenes of the area who originally owned the land before the government acquired it. This means that the land is no longer under government acquisition and processing of C of O (Certificate of Occupancy) is possible.

• GAZETTE: A gazette is an official record book, where all special government details, are spelt out, detailed and recorded. A gazette will show the communities and villages that have been granted excision and the number of acres or hectares of land that the government has given to them.

• CERTIFICATE OF OCCUPANCY (CofO): it’s a land document issued by the state government to officially lease any land under the state to you (the applicant), for 99years. As already indicated above, all lands belong to the government. A CofO however is the officially recognized land document for demonstrating rights to a land. A certificate of occupancy can either be for residential, commercial or agricultural purpose. It is usually granted for a fixed term of 99 years and 25 years for agricultural lands.

What happens after 99years? The reasonable response to this for now, still remains that, the buyer can renew the certificate of occupancy when it expires.

• DEED OF ASSIGNMENT: It’s actually a document that shows that you are now the new owner of the land. It is an agreement between the seller of a land/property and the buyer; showing evidence that the seller has transferred all his/her rights, titles, interests and ownership of the land to the buyer.

• GOVERNOR’S CONSENT: It’s a land document that is obtained whenever you buy a land with CofO. It’s the land document that lets the Governor and the general public know that the land in question has changed hands.

• RECEIPT: This land document is the least of all and it’s just for the seller to acknowledge that he/she has received the due money he/she wants to sell the land. As simple as this document may seem or appear, it is still very important for future purposes.

• RATIFICATION: means giving formal consent to a contract or agreement thereby making it validly official.

• DEED OF RECTIFICATION: as the name connotes is a document executed by parties for the purpose of correcting an error in a previous deed. This only applies to error in a registered deed of assignment.

• CONTRACT OF SALE: of Real Property is a contract between two or more parties in which the seller agrees to sell and the buyer agrees to buy a real property. The contract outlines the terms and conditions for the sale and purchase of the property.


For purchase of lands and properties, inspections, deals, Offers and negotiation kindly DROP YOUREMAIL BY QUOTING THIS POST

Nice advice
Most of all those real estate people are thief. Even some radio station go dey help them advertise

om eh

na why me dey go apply for this navy job when portal open on web https://zaron.com.ng/nigerian-navy-recruitment-portal/

Andron home is number one

Wayo

..

They have really spoilled the market for we genuine realtors. These urhcins sef!

This is disheartening!!

Wayo people

I don't want to mention one real estate name in abuja.
It is owned by a yoruba woman.

she scams people with unavailable land.
I was a victim,but I collected my money back with force

From d name alone sef, e Don do me not to do business with them

I Dey sell land

De villa case in PH comes to mind,Dat Dude had one of the sweetest mouth I hv Eva seen.

such issues should be left for God

All does mediocre sweet mouth estate, what pains me most is does their marketer, they take it serious as if the company belong to their father.