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Nairaland Forum / Nairaland / General / Properties / Top 4 Tips To Avoid Getting Scammed In Land Transaction (2546 Views)
Consequences Of Improper Land Transaction Documentation. / Important Documents In Land Transactions. (must Read) / One Important Question You Must Ask Before Concluding A Land Transaction (2) (3) (4)
Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 9:46am On Apr 20, 2018 |
Land fraud is a big issue in Nigeria and the reason is simple – Nigerians like you do not find the idea of losing their hard-earned money to scam agents who pose as agents and landowners. In the past, all a scam agent needed to defraud unsuspecting buyers like you was to pose as a wealthy man also known as a ‘big man/woman’ and get his/her hands on some fake documents. Today, however, a lot has changed and so have scam agents. Scam agents have become more creative and innovative in their criminal acts. To cut down the chances of falling prey to these voracious entities, we will take you through top 5 tips that safeguard you from losing your money to scam agents and double-dealing homeowners. Don’t Be in a Rush One of the most successful tactics scam agents deploy when trying to add you to their list of victims is that they try to rush you. Rushing you is designed to place you under the mindset that the offer is for a very limited time and that if you don’t pounce in good time, you might lose out on the deal. This is not true. A good deal is not worth rushing. No matter how mouth-watering a deal is, if the agent or property owner does not give you ample time to evaluate your choices and decision, it’s not worth it. As long as you have not paid for a land that a fraudulent agent is trying to sell to you, the scam is not successful so you should always hold on to your money and buy yourself as much time as you need to verify the owner’s numerous claims. If the owner tries to rush you, counter this with an explanation of how you carry out due diligence before you make payment. Don’t be afraid to let the property owner know that you do not like being pressured into making important decisions. Never Make Payment For a Land You Have Not Inspected Physical inspection of a land you are interested in incredibly important. Never put yourself in a situation where you have to pay for a land that you have not created time to inspect. Some people might take such a risk and be lucky enough to get away with it but this increases your risk of getting scammed greatly. Before you pay for any land at all, you must not just see the land physically but you must carry out an inspection of the property. An inspection lets you know how much value you are getting for your money. In a situation where you are outside Nigeria and you want to inspect a land, send someone whose judgement you fully trust to carry out an inspection for you. Cheap Land Should Raise Flags Buying land is not cheap. Don’t let anyone tell you otherwise. Land in Nigeria can be affordable but not cheap. For instance, if a seller tries to sell land to you at a price that is ridiculously cheap, tread with caution. If a land is listed at an excessively cheap price, it is probably fraudulent. One of the factors that determine how much a land sells for is its location. This explains why a plot of land in Banana Island is more expensive than the same land space in Ikorodu in Lagos. The only exception to cheap land is when the owner is someone you have a personal relationship with. For example, a wealthy uncle/aunt could give you the gift of a plot of land. Get Help From a Real Estate Expert The safest way to avoid land fraud is to work with a real estate professional. Let an expert guide you with his/her wealth of experience within the real estate space. A reliable property expert will ensure you get the best value for your money. Many of the things to look out for before buying land will be provided by the real estate expert. Final Thoughts. In addition to the tips we have shared, when buying land, avoid paying cash. Always ensure your payment can be traced. Don’t pay through a transfer through your mobile App. it might be a smart way of making payment for other things but when buying land, it isn’t a smart thing to do. Make the payment within a banking hall. When you deposit the money into the seller’s account with a teller to show for it. The teller would contain the name of the seller. If something goes wrong, you are not left hanging. Finally, when buying land, ask for a receipt. On the receipt, ensure ‘payment for land’ is boldly written on it. https://www.privateproperty.com.ng/news/land-fraud/ 2 Likes |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 7:41am On Nov 15, 2018 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 12:58pm On Jan 21, 2019 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 11:56am On May 19, 2019 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 1:09pm On Jun 01, 2019 |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 8:03pm On Aug 10, 2019 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 8:15am On Sep 23, 2019 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 12:28pm On Oct 30, 2019 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 11:49pm On Mar 14, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by Chidelis(m): 6:55pm On Apr 12, 2020 |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 9:47am On Apr 22, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 3:39pm On Apr 28, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 1:26pm On May 14, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 8:55am On Jun 05, 2020 |
RealEstatePlus: 2 Likes |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 6:11pm On Jul 04, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 5:54pm On Jul 16, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 3:49am On Jul 25, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 2:35pm On Sep 05, 2020 |
RealEstatePlus: |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 9:09pm On Sep 13, 2020 |
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this an item of real property, buildings or housing in general. Wikipedia |
Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 8:37am On Oct 03, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 12:30pm On Nov 24, 2020 |
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Re: Top 4 Tips To Avoid Getting Scammed In Land Transaction by RealEstatePlus(m): 6:01pm On Nov 30, 2020 |
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