Real estate investment in Nigeria is one of the riskiest forms of investment; especially in Lagos state. A minor mistake can lead to you losing your hard-earned money – possibly your life savings. But fret not, there are some procedures you can follow to protect yourself from being a victim of land scams. Guess what?

I’m going to share these procedures with you in this article to guide you through your investment. If you follow these procedures I am about to reveal to you judiciously, I can guarantee that you won’t fall victim to land scammers. Matter of fact, with this strategy, you will detect land with problems. I know this because these are the same strategies we use in our company and it has been working very well.

When I hear stories of how would be real estate investors were swindled by real estate fraudsters, one thing is common among all the stories – Lack of proper research.

Conducting thorough research on who you are investing with is very important. In fact, it is the first thing you should do. Because proper research will reveal a lot of secrets about the real estate company/family you are buying property from and with this knowledge, you can make a better decision.

With that said, Let’s take a look at what a real estate scam is.

What is a real estate scam?
Real estate scam, is a type of scam where the scammer claims ownership of a property in order to con their victims out of their money, they sometimes proceed to sell out the same property to multiple people, leaving them in confusion as to who legally owns the property.

Although these scammers come up with new techniques to swindle investors, there are ways you can protect yourself from falling victim, And I will reveal them to you in this article. So if you are ready, let’s dive in…

TIPS TO HELP YOU AVOID REAL ESTATE SCAMS

1. Don’t rush the buying/renting process

One of the common tactics scammers use is trying to speed up the buying process. Most of these real estate fraudsters have mastered this strategy to the extent it works like magic on their victims. And they do this by persuading you to make a down payment which serves as commitment. And when you do this, Most times, they come up with different stories & tactics to con more money from You and by this time, backing out of the deal becomes a problem because you have already committed yourself by making down payment.

So when embarking on a real estate investment journey, Do not rush the buying/renting process no matter how good the deal is. Step on the brakes of excitement and objectively analyze the deal if it seems too good to be true then it is advisable to step back from such transactions. It is better to be safe than sorry.



2. Verify the person you’re working within the real estate transaction

As stated earlier, it is very important you verify the person/company you’re doing real estate transactions with. Because there are a lot of persons/companies who portray themselves as real estate experts but are scammers. So you need to verify which of them are genuine and which is fake.

Fortunately, the internet has made this easier than ever before. All you need do is do a Google search on the person/company, visit their social media platforms to check their reviews. You can also go to forums like nairaland to ask questions and I am so certain you will get feedback – positive or negative.

After these, you can now decide if you want to go ahead with the deal or not. However, If you decide to proceed to make a payment,

3. Avoid Paying Cash

If the homeowner or agent is asking you to pay in cash then you should tread carefully of that real estate transaction. Because when you make a cash payment, The money is not traceable unlike paying in a bank instead you insist on writing checks or paying at the bank as this means of payment does not leave you hanging dry if the transaction goes wrong.

The advantage of paying at the bank is that you would have your teller which carries the name of the seller and the amount paid. This will serve as evidence should any problem come up in the future.

4. Use a reliable source in your search for properties

This is very important; especially when you are starting out as an investor. The best decision you can make as an investor is to invest with a reliable company/person. And you will get to know a reliable source if you carry out your due diligence – proper research. Check for their track records. As a real estate company, We have done real estate transactions with many clients both in and outside Nigeria. We offer quality, genuine, and customer satisfactory service across our product line. We also ensure full-fledged after-sales service support to our customers, backing them even in their smallest of needs.



5. Never skip inspections

A major red flag for any real estate transaction is when the property owner or agent is trying to discourage you from inspecting the house. If there is nothing suspicious to hide then inspection is not negotiable. Insist on inspection and if not granted by the property owner or agent then it is advisable to terminate the real estate transaction immediately.

Conclusion
Although the probability of being scammed by land scammers in Lagos state is quite high, It is avoidable if you carry due diligence and follow the guidelines stated in this article.

Culled from bethel relators dot com.

Call Stella Ayomide on 08139956915 for further inquiry on this amazing product/offer and professional advice on Real Estate investing.

“Forget past mistakes. Forget failures. Forget everything except what you’re going to do now and do it.” – William Durant

“Success is often achieved by those who don’t know that failure is inevitable.” – Coco Chanel

If you’re keeping your eyes on what can go wrong, it will go wrong. Successful people strive to move on. They aren’t ignorant of failure, but they’re also not stymied by it. They don’t know what failure is, because to them it’s merely a bump in the road, not its terminus.

Invest in yourself, you can afford it, trust me.” Rashon Carraway

“The price of a commodity will never go to zero. When you invest in commodities futures, you are not buying a piece of paper that says you own an intangible of a company that can go bankrupt.” Jim Rogers

“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” Robert Kiyosaki

. “Do not save what is left after spending but spend what is left after saving.” Warren Buffet

“If you buy things you do not need, soon you will have to sell things you need.” Warren Buffet

. “Wise spending is part of wise investing. And it’s never too late to start.” Rhonda Katz

“The way to get started is to quit talking and begin doing.” – Walt Disney

The more business quotes from these masters of industry and history, the more you notice a common thread knitting them together. They tend to same things only in different ways. That alone should make it clear that actions speak louder than words, to use another old axiom.

“The real test is not whether you avoid this failure, because you won’t. It’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere.” – Barack Obama

The president knows a lot about failure and success. The Affordable Healthcare Act was more than once dead in the water, but the president didn’t give up. He compromised, he convinced and he labored, but not once did he allow himself to become embittered.

Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth. – Robert Kiyosaki

We don’t have to be smarter than the rest. We have to be more disciplined than the rest. – Warren Buffett

Now, one thing I tell everyone is learn about real estate. Repeat after me: real estate provides the highest returns, the greatest values and the least risk. – Armstrong Williams

The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against the crowd. – Warren Buffett