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Nine Observable Rules To Avoid Real Estate Scams In Nigeria - Properties - Nairaland

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Nine Observable Rules To Avoid Real Estate Scams In Nigeria by DeDonniesHomes: 11:32am On Nov 10, 2020
Rule 1: Ensure you document everything. Video the documentation with your phone if you have any form of doubts.

Rule 2: Choose cheques, bank transfer or direct deposit into the seller's bank account over cash payment as such types of payments are easily traceable and can serve as evidence if the deal goes sour.

Rule 3: If they are not available for allocation, don't make payment. You are at the mercy of the seller once you've made the payment but it's yet to be allocated.

Rule 4: Take possession immediately. Even if you have an intention of selling off the property in future, ensure you take possession now by at least fully fencing and gating it.

Rule 5: Investigate the authenticity of the land and character of the seller before buying from him.

Rule 6: Never ever pay into an agent's account. Request for the account details of the owners and let it align with the names on the deed of assignment.

Rule 7: Always ask for the history of the land before you buy. The land history will let you know if there might be complications or land disputes in future. That way, you know whether you should avoid that piece of land or not.

Rule 8: Buy from trusted real estate companies. The world is presently a global village. You can always get information about a company's fraudulent behaviour (if any) online by searching Google.

Rule 9: Perfect your documents with the government.

May you not have reasons to cry!

De Donnies Homes

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