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How To Identify A Fraudulent Set-up In Property acquisition In Nigeria - Properties - Nairaland

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How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Jarus(m): 8:09pm On Sep 14, 2013
By Mayowa Akinsola

http://www.jarushub.com/acquiring-a-property-in-nigeria-how-to-identify-a-fraudulent-set-up-i/

1. Environment: Office setup is one of the things you need to observe. Here you will be given two extremes. One is the office you enter and you really don’t see the sign of any serious work going on, for example, proper staffing, files, computers (desktop or laptop). Most often, it is a blackboard with properties listed on it written in chalk that leads to such offices. It is not unusual for the purported office owner to bear a title aimed at impressing like Chief, Alhaji, Elder, Apostle or Doctor. When you do meet the Chief Executive, he is not dressed in a proper office-like manner and would be dressed traditionally. Be careful of such people, you may need to ask around as there must be people who can speak up for their reputation.

The second situation reviews a situation where you enter an office which looks so posh and appears to be telling you “you are the one we have been waiting for.” This is not very common. Everything looks so organized and practiced, including the way they are talking to you. No sweaty looking junior staff. No one comes in saying “I just came back from that Gbagada duplex house, oh the landlord is difficult.” If it is tea and biscuits they are serving, you need to be wary. They might just be after your money. In Nigeria, estate practice is a lot of hard work and easily you will see it in the offices and the speech of those around the office.

There is the middle line of a proper estate office which oftentimes is a little untidy because of activity and phone calls for enquiries. There is usually a secretary and other staff who conduct themselves in a proper office-like manner. Sometimes there is an information board within the premises with typed brochures, photographs etc. introducing properties to let and for sale. That oftentimes is the right office for you.

2. Character: As a matter of fact within thirty minutes in an office you should be able to catch the spirit of their dealings. How educated are they? Do they seem honest and dependable? Are the staffs already asking for money one way or the other? Are they dressed in a way suggestive of irresponsible people? All these can let you into the type of agent you have come to and these things have serious implications here in Nigeria.

3. Inconsistency of Speech or Information: You may observe that the things you are told either by the manager or his staff are untrue or that they are constantly making mistakes and trying to cover them up. For instance you are taken to a property for inspection and within a few hours you are told that you were shown the wrong property or perhaps you were told the landlord lives in Lagos only to learn that the landlord actually died three years ago. Beware!

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Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Jarus(m): 8:10pm On Sep 14, 2013
4. Pointing out Buildings without Any Depth of Knowledge about the Owner: This is closely related to the above only that it is more pointed. In your discussions, you might find the agent just reeling off the various addresses of properties from his list but knows nothing about the owner(s) or the details of the property as in the house type, street number and details of ownership documents. In other words, the agent is not convincing.

5. Strange Relationships: This also makes reference to the office. You may note that there is no coherence in office activities. Perhaps the person introduced to you as the Chairman does not seem familiar to the person introduced as manager. Again you might have observed that there are too many whispers here and there between staff each time glancing at you or being pretentious. You may need to back out quietly of such relationships.

6. Hurry:
This is another strong point you need to watch. If everything about the people you are dealing with is hurry; hurry for payments; hurry and hurry; you are under pressure to perform or the agents exert a sense of compulsion in the things they want you to do. Wait to think so you can operate with a clear mind or else you might have agreed to do things you may never be able to reverse.

http://www.jarushub.com/acquiring-a-property-in-nigeria-how-to-identify-a-fraudulent-set-up-i/

2 Likes

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by blank(f): 9:31pm On Sep 14, 2013
How to "acquire" or how to "identify"?
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Jarus(m): 10:13pm On Sep 14, 2013
blank: How to "acquire" or how to "identify"?

Thanks for identifying my error. Edited.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by intrepid: 9:32am On Sep 15, 2013
Thanks so much for this elaborate information.It will surely help many peopl because some folks have vowed to never live a descent life devoid of fraud till they die.exposes like this will guide honest people not to fall into their gullies.Thank you.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by habex050: 10:31am On Sep 15, 2013
good one there op, will surely make use of this
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by martyns303(m): 10:39am On Sep 15, 2013
That "HURRY" part is the most obvious, they usually say things like, that's a very high profile area and its a hot cake, if ur going to take it, it will be best u start now, cos we may have to consider another client in a day or two. U'll jst hurry and make initial payments.

3 Likes

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by AbuMikey(m): 10:42am On Sep 15, 2013
Ok na!!!
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Tedpgrass: 11:07am On Sep 15, 2013
Could you share tips concerning property "estates" and their conveyancing practices??
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Chinwem(f): 11:08am On Sep 15, 2013
Very good write up!

And also they can try to sell you an uncompleted structure or promise to renovate part of an old one immediately before you re due to move in..........all lies!!! If they were serious about renovating they would ve done it before putting it up for sale or allowing you to inspect and collecting your money.

1 Like

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by carbon1224(m): 11:37am On Sep 15, 2013
I don't think all this point make it an acquisation land.you should learn about what accusation land means from lawyers.

You can always find loyal people without an office packaging.take note of that.


Jarus:
4. Pointing out Buildings without Any Depth of Knowledge about the Owner: This is closely related to the above only that it is more pointed. In your discussions, you might find the agent just reeling off the various addresses of properties from his list but knows nothing about the owner(s) or the details of the property as in the house type, street number and details of ownership documents. In other words, the agent is not convincing.

5. Strange Relationships: This also makes reference to the office. You may note that there is no coherence in office activities. Perhaps the person introduced to you as the Chairman does not seem familiar to the person introduced as manager. Again you might have observed that there are too many whispers here and there between staff each time glancing at you or being pretentious. You may need to back out quietly of such relationships.

6. Hurry:
This is another strong point you need to watch. If everything about the people you are dealing with is hurry; hurry for payments; hurry and hurry; you are under pressure to perform or the agents exert a sense of compulsion in the things they want you to do. Wait to think so you can operate with a clear mind or else you might have agreed to do things you may never be able to reverse.

http://www.jarushub.com/acquiring-a-property-in-nigeria-how-to-identify-a-fraudulent-set-up-i/

1 Like

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by deepwater(f): 11:38am On Sep 15, 2013
Op the 2nd part talked about education, having little or no education does not make anyone less of a human being.
I know of some properties in strategic locations in lagos today that are owned by people with little or no education.
The 'hurry' part cannot be over flogged. Thanks for the tip, happy sunday nairalanders!

1 Like

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by qualityovenbake(m): 11:47am On Sep 15, 2013
Hi jarus, some questions are on the tax professionals forum. Thanks
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by tomzman: 12:07pm On Sep 15, 2013
Nice piece Jarus. The "whispering" part cannot be overemphasized.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by christejames(m): 12:09pm On Sep 15, 2013
Nice info it would be useful to me in d nearest future
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Nobody: 12:53pm On Sep 15, 2013
ok,thanks,bookmarked.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Nobody: 1:05pm On Sep 15, 2013
Jarus, stick with your political analysis, this is the most pathetic piece of writing due to its lack luster nature, and directness. What has office setting got to do with professional integrity? Most of the hustlers on the property sections are into automobiles, import and export, and other business, yet have flawless records of fair dealings, and have never been reported to the mod. You mentioned office activities, and someone spreaking pidgin? Seriously?
I have an office opposite Zentih Bank, Abule Egba, Lagos, majority of what we do there is analyze Jonathan, and Fashola as most clients are less interested in what the inside of your office looks like, but rather on what you've got, and how honest you are. And are you aware that clients are more interested in been referred to good estate agents, whether he speaks Ibo or Yoruba, as long as he's not a 419er, and not a tout. Bros, please stick with politics. Real estate isn't about Oyinbo or wearing suits. its the business where professionalism and too much English might sometimes cost you a client, and a life time deal. All you need is self-education, and an experienced land agent or lawyer. Shikenah!

3 Likes

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by dheaven: 1:26pm On Sep 15, 2013
aasog1: Jarus, stick with your political analysis, this is the most pathetic piece of writing due to its lack luster nature, and directness. What has office setting got to do with professional integrity? Most of the hustlers on the property sections are into automobiles, import and export, and other business, yet have flawless records of fair dealings, and have never been reported to the mod. You mentioned office activities, and someone spreaking pidgin? Seriously?
I have an office opposite Zentih Bank, Abule Egba, Lagos, majority of what we do there is analyze Jonathan, and Fashola as most clients are less interested in what the inside of your office looks like, but rather on what you've got, and how honest you are. And are you aware that clients are more interested in been referred to good estate agents, whether he speaks Ibo or Yoruba, as long as he's not a 419er, and not a tout. Bros, please stick with politics. Real estate isn't about Oyinbo or wearing suits. its the business where professionalism and too much English might sometimes cost you a client, and a life time deal. All you need is self-education, and an experienced land agent or lawyer. Shikenah!
you are right
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Stunner1(f): 1:41pm On Sep 15, 2013
Very true
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by funmeme(f): 1:49pm On Sep 15, 2013
dheaven: you are right


Seconded!
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by PapaBrowne(m): 2:55pm On Sep 15, 2013
While I dont totally disagree with this write-up, I think it doesn't do justice to starters who are really working hard to try get a good sale. They might not exactly be professional and have a long list of properties, but they might have the integrity that would take them to the next level.

Imagine this scenarion of someone who had a good real estate plan. He went to a community and bargained to help them sell out their land. He developed a residential master-plan, did all the surveying, got all the consents and approvals, printed out brochures and started to start selling off plan. He wasn't deceptive at all. Infact, he let his clients know exactly what he was doing. But he wasn't getting any plots sold. Six months and not a single plot sold. So he was advised to go get a virtual office in VI. Build a great website, act like a big company with all the swag to boot. He did just that and in one month had sold off 50 plots.

Now imagine he was a scammer and followed the same formula. Or better still, imagine a scammer suddenly decides to apply the rules you have presented. My take is that detecting fraud is best done by asking realistic and hard fast questions. Get warm but be skeptical until you clear all reasonable and unreasonble doubt.


Nice article though.

2 Likes

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Incrizz(f): 2:59pm On Sep 15, 2013
Jarus:
4. Pointing out Buildings without Any Depth of Knowledge about the Owner: This is closely related to the above only that it is more pointed. In your discussions, you might find the agent just reeling off the various addresses of properties from his list but knows nothing about the owner(s) or the details of the property as in the house type, street number and details of ownership documents. In other words, the agent is not convincing.

5. Strange Relationships: This also makes reference to the office. You may note that there is no coherence in office activities. Perhaps the person introduced to you as the Chairman does not seem familiar to the person introduced as manager. Again you might have observed that there are too many whispers here and there between staff each time glancing at you or being pretentious. You may need to back out quietly of such relationships.

6. Hurry:
This is another strong point you need to watch. If everything about the people you are dealing with is hurry; hurry for payments; hurry and hurry; you are under pressure to perform or the agents exert a sense of compulsion in the things they want you to do. Wait to think so you can operate with a clear mind or else you might have agreed to do things you may never be able to reverse.

http://www.jarushub.com/acquiring-a-property-in-nigeria-how-to-identify-a-fraudulent-set-up-i/


The above three are so true.
Imagine an agent pointing out a property to you, and when you insist, he takes you to the property and the place is under lock and key! He then tells you the person in charge is at a particular spot.
And as you both are on your way to meet "the person", he greets another friend of his, walks past him, changes his mind, calls back this friend, speaks to him in a language you don't understand and then tells you, this is "the person."
And they are both pressuring you to hurry, because the house is hot cake!

You are so right. Great write-up.

Aasog1 I think you misunderstood Jarus somewhat.

1 Like

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by kunlesehan(m): 3:31pm On Sep 15, 2013
hmmmm... interesting.
the funny thing is, the good, the bad and the ugly are all reading this and making adjustments.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by excelsiorfarm(m): 3:32pm On Sep 15, 2013
good writeup,but even this act had been learnt by criminals,they dress well,have decent offices,talk as if they are not in a hurry & u just fall prey, i have tenant i havnt met in lagos by d grace of God & also am a tenant in ibadan that have never met my landlady, d guys that rented d house to me,dont have great office,not great looking,look unorganize,am not in village-but bodija.hence this yardstick can only work in some cases,get a sound lawyer,if u are fearful or a starter in properties
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Sagamite(m): 4:05pm On Sep 15, 2013
If I had time, it would just be fantastic fun to patronise these scam artists and have fun going along and laughing at them when you pull out the very moment they think they are about to get their first cash. grin
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Chiadikaobi(m): 6:05pm On Sep 15, 2013
Sagamite: If I had time, it would just be fantastic fun to patronise these scam artists and have fun going along and laughing at them when you pull out the very moment they think they are about to get their first cash. grin

What if dem carry gun?

1 Like

Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by picoba(m): 6:25pm On Sep 15, 2013

well said.

I am a victim







I am a victim here in Abuja. A friend (church member- and home cell coordinator) claiming to have bought a plot over a year encouraged, and took me to the man.
I never knew they are after my money. He did the work perfectly, before I realized. Less than a month, story started.
It was after the incidence, I knew his stand in the matter. I don’t know what to do.
They man that collected money said I should come and arrest him. They are well prepared for the case.
I have evident of payment, and the documents are all with me.
I need help.




Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by touchmeder: 6:40pm On Sep 15, 2013
picoba:
well said.

I am a victim



kpele lipsrsealed
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by Sagamite(m): 8:09pm On Sep 15, 2013
Chiadikaobi:

What if dem carry gun?

That no be fraud, that na armed robbery na.

And no be say I go they carry money with me.

Sheybe na cheque I go plan give them. Or do money transfer.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by enilove(m): 9:36pm On Sep 15, 2013
I have a property for sale but I would like to know if it is posible for an agent to dispose d property without my knowledge and pocket d money.
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by excelsiorfarm(m): 10:26pm On Sep 15, 2013
picoba:
well said.

I am a victim







I am a victim here in Abuja. A friend (church member- and home cell coordinator) claiming to have bought a plot over a year encouraged, and took me to the man.
I never knew they are after my money. He did the work perfectly, before I realized. Less than a month, story started.
It was after the incidence, I knew his stand in the matter. I don’t know what to do.
They man that collected money said I should come and arrest him. They are well prepared for the case.
I have evident of payment, and the documents are all with me.
I need help.




make a report with a lawyer at d police station,check with AGIS in abuja, d validity of yr paper,if fake, try to get a confession with a camera phone(secret), above all pray,land dispute isnt a small matter
Re: How To Identify A Fraudulent Set-up In Property acquisition In Nigeria by excelsiorfarm(m): 10:46pm On Sep 15, 2013
enilove: I have a property for sale but I would like to know if it is posible for an agent to dispose d property without my knowledge and pocket d money.

it is possible, with falsify documents, but u have an option to visit at interval, if in location u have neighbors, keep in touch with yr neighbor aside d agent to get d true pic of happenings concerning yr property,put a metal stand with detailS tel,belongs to,to check trepass. if the worst had been done,first step is report to authorities,ignore d buyer(since u never sold anything personally on it),if any structure already on it, write yr details on it as d owner, they will call for talk & negotiation, never do property deals in isolation,for safety & guide against losses

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