One reason why some people fall victims of real estate frauds is due to lack of due diligence in investigating a licensed real estate broker. As a result of laziness, you rather place a unilateral offer to the public, indicating that you need a property, but it doesn't work that way.

At this point, the antecedence of property brokers must be ascertained before you engaged them. The previous records and successes. Also enquire the previous efforts they have put through, to ensure that their previous clients didn't fall prey of fraudsters. We have ours. Now if you are satisfied with them, you may go ahead with them. However, if they are investigating or buying properties for you, always request a written search report to show they did it, so that they will be held responsible for any loophole, in case.

Barr Ayo- 08068088866
ay4u888@gmail.com

Evening, Boyestic.

1. Is it the job of brokers to conduct due diligence on property?

2. Do property brokers have the requisite knowledge to identify defective titles?

3. How many brokers can tell you the difference between deposit and part payment in contract of sale?

Your post is very very misleading. Brokers lack the capacity to undertake due diligence of property, they can only recommend. Brokers can't protect buyers from fraudsters, that is the unfortunate truth.

Brokers get you deals that favour you and is profitable to them.
Surveyors pick coordinates and inspect to be sure its not under government acquisition.
Lawyers undertake due diligence and documentation.

VillagePipu:
1. Is it the job of brokers to conduct due diligence on property?

2. Do property brokers have the requisite knowledge to identify defective titles?

3. How many brokers can tell you the difference between deposit and part payment in contract of sale?

Your post is very very misleading. Brokers lack the capacity to undertake due diligence of property, they can only recommend. Brokers can't protect buyers from fraudsters, that is the unfortunate truth.

Brokers get you deals that favour you and is profitable to them.
Surveyors pick coordinates and inspect to be sure its not under government acquisition.
Lawyers undertake due diligence and documentation.

Guess you didn't read the post. One of the duties of estate brokers is to protect the interests of buyers. In Nigeria, estate brokers ain't too recognized, but they are independent bodies under which estate agents fall. If you say estate brokers are not obliged to protect the interest of buyers from impending fraud, then why did you say estate brokers brings deal that favor buyers. Moreover in Nigeria, the work of an agent is mixed with broker.