Some of our client have this fear of investing in lands with an excision in progress, which is why I choose to talk about this first.
Before then, land can be classified into two;
Free or Acquired
A parcel of land is said to be free if the government do not have any interest on it. Such lands is safe to buy because the titles can be perfected without issues. In most scenarios such lands will either have a certificate of occupancy, gazette or governors consent.
While it (land) is said to be acquired if the government do have interest to use it either now or in the future for purpose of building social amenities. Lands that fall under areas designated as ‘urban areas’ until deemed committed or free.
Excision is a process in which the government releases a portion of an expanse of land that is not committed, when a portion of an expanse of land that was formerly under acquisition becomes excised, it then considered free and gazetted. The gazette then becomes the title on the land.
Lands like the peninsula homes are cheap because the process of excision is still in progress, and this can be confirmed even before purchase. Once the lands is being excised and gazetted, it then appreciates in value and of course, price.
Like I pointed out, most people are skeptical on investing in lands with ‘excision in progress’ and will start to invest when the lands has been excised and gazetted, with a higher price attached to them.
But very few smart investors, look out for these kind of properties, especially when they know the excision in progress cans be confirmed and they can purchase from a legitimate company, they are also aware that once these lands are excised and gazetted, their assets value would have increased.
The question then is;
Are you most people?
Or a smart investor?
The answer depends on your action today, most of our properties that have excision in progress, have been there for a while now, which means you can get them cheap, anytime soon, they will be excised, gazetted and will increase in value.
This coming Saturday is inspection, contact me to reserve a seat for you, and for any other clarification.
Wellset property Consulting
P.s—- see list of our property deals and let me know which interest you, http://bit.ly/2qIadb8
Thanks as I anticipate your feedback