An Excision in process means the Excision process has been started but hasn’t been approved. It’s still like saying the land has no title.
So the common fear is that what if the excision doesn’t get approved?
Which is understandable. However rarely does that happen because Excision is the RIGHT of the community as the 1979 land use ACT recognizes ancestral ownership of land. This means there is high chances of approval than rejection. And evidence of that is the fact that there is no record in Land registry of an Excision that was outrightly rejected. What could happen is that for example 200 acres is processed for Excision and only 50 acres is approved. And when this happens the estate company reapplies to get the other part excised.
A situation where some acres are not excised buyers will simply be relocated to another estate. Although if this happens the client could be asked to pay some money especially if the estate the client is being moved to is more expensive than the one the client bought from. But you don’t lose your money. Not if u are dealing with a reliable company with a name to protect.
Yes there’s some risk involved. But with every investment there is some risk even buying from an estate with C of O. Nothing is 100% guaranteed. If the government realized they needed to use a land with C of O for some public infrastructure they will take it, but owners will be compensated of course. Point is you can still lose a land with C of O, less likely to happen yes.
With a land with Excision in process u get to buy at a really low price. And as an investor that’s a big benefit as it gives the property more room to appreciate in price. A property of N700k has a better chance of appreciating from N700k to N2-3million than a property with C of O selling for N5million to jump to N10million a plot.
If you don’t want to take the risk though, we have a lot of properties with C of O or you can buy from any of our estates with approved Excision for N2million/plot.