Real Estate Sponsorship

HOW TO ACQUIRE LAND IN BULK WITHOUT PAYING FOR IT

Believe it or not, a lot of real estate companies selling land in Nigeria acquired their lands from families without paying for the land. Yes, they did not pay for the land! Instead, they paid for something that the family wanted and in return, the family gave them land. This method of land acquisition is generally called Sponsorship and in most times, it is far…

Village Excision Issue

WHEN WILL LAGOS STATE GOVERNMENT RESUME GRANTING OF EXCISIONS?

I am beginning to wonder when Lagos State will resume granting excisions to villages in the Ibeju-Lekki/Epe axis so that their lands can have more value and can attract reputable investors. The most recent gazette I have seen were issued in 2012. For years now, through the help of real estate companies and land title sponsors, a lot of villages/communities have submitted applications for excision…

Requirements for Granting of Village Excision in Lagos

If you are planning on applying for excision in Lagos state, here are the requirements. 1) Application letter by the intending villagers or community on letterhead paper, addressed to the Permanent Secretary, Lands Bureau. 2) Sunprint perimeter survey plan of the land requested for excision 3) Brief profile/history of the village/community containing: a)Name of Oba/Baale or community head b)Population c)Occupation of inhabitants 4)Locaton sketch of…

Difference between Excision File Number and Gazette Number

In recent times we have been contacted by some of our clients who are in the process of purchasing land from real estate companies to help them verify the excision number of the land they intend to buy. Most times these real estate companies in Lagos don’t have an approved excision for their land yet so what they have is an Excision File Number NOT…

Easter and Cheap Lands

Easter is coming soon and some real estate companies are selling “cheap” lands with incentives like free bags of rice, ram, oil etc. Dont be cajoled by these companies. A bag of rice is NOT your problem. What you want is a sure investment. Most cheap lands don’t have any Title. If you are going to buy a cheap land, do some investigation and be…

4 Basic Checks Before Paying For Land in Lagos

Buying land is often a major investment and it is important to make sure you do some checks to avoid loss of capital. There are four basic checks you can do before your final decision to acquire land. They are: 1) Verify that the land is free from government acquisition. 2) Verify that the seller is the true owner and if not that he has…

How to Obtain Land Excision in Lagos

Steps to follow to obtain land excision in Lagos state 1        Submission of application letter with attached documents. Attached documents include I Application letter by the intending villagers/settlers or community on letter head, addressed to the Permanent Secretary, Lands Bureau. II Sunprint perimeter survey plan of the land requested for excision. III Brief profile/history of the village/settlement/containing: A The name of the Oba/ Baale or…

Ibeju Lekki Land

These days it seems almost every real estate agent is selling land in Ibeju-Lekki. Everybody wants land in Ibeju-Lekki because of its investment potential considering the massive projects ongoing (e.g Dangote Refinery) and those already in the pipeline. Most of the agents don’t even know if the Ibeju-Lekki land they are marketing has good title or not. They don’t know that a large chunk of…

Land Excision in Lagos

Beware of lands in Lagos with “Processing Excision” title. There has been a proliferation of real estate companies claiming to have lands for sale all over Lagos especially in Ibeju Lekki axis. Some of the lands they are selling have genuine titles but most of them don’t especially those on which they claim to be “processing excision”. They tell prospective buyers they have started processing…