According to omonilelawyer.com 'over 500,000 Land Scam occur every year in Lagos and Ogun State'. This brings attention to how thorough emerging buyers should be when buying properties in fast growing locations like Lagos and Abuja, especially first-time home buyers.

Few months ago, a client contacted us from our YouTube channel exclaiming how he almost fell victim to land fraud from 2 famous Real Estate companies in Lagos after seeing one of our videos.

According to him, he was on the market looking to invest in some land properties in Ibeju Lekki - Ibeju Lekki is an emerging fast growing location within the Lagos Island with fast ROI on properties due to the heavy presence of industries like the Dangote Refinery, Lekki Free Trade Zone, Lekki Deep Seaport, Dangote Fertilizer, and Lekki Int'l Airport where affordable Real Estate in Lagos are mostly sold.

He had contacted these different Real Estate companies hoping to choose the best deal amongst them only to find out that the land coordinates issued by these different companies were actually bearing the same numbers.

Just like a name to a person, a land coordinate is a unique number attached to every land property irrespective of its location. No two lands can bear the same coordinate. You can generate the coordinates of a land by using a google enabled GPS or by contacting a professional surveyor.

By the completion of the due diligence, he realised the property, hitherto claimed to have an Excision as title document was, as a matter of fact, a government acquired property with plans to become a cemetery in the future.

Mr. Bassey was smart enough to hire a surveyor to verify the coordinates and conduct a due diligence before proceeding to payment. How about several other people who had already bought into these sham properties without knowing?

One of the estates sold for as high as 7M per plot while the other sold for 12M each and guess what? These estates were almost selling out.

Why People Fall Victims to Property Scam

1. Relying on Social Credibility and Goodwill of Family Members and Loved Ones: Over my years of experience as a Realtor servicing mostly Nigerians in diaspora from the online space. Social credibility is non arguably the foremost reason many buyers fall victims to this ploy.

A colleague was telling me the other day how he tried dissuading a client from buying a particular property from a famous Real Estate company in Lagos he knew were selling sham properties.

The client insisted against his plea that he knew the owner personally and went ahead to buy the property. The year was 2016 and up on till now, 2022 its been stories after stories transferring the rights of ownership of the property to him.

Popularity and personal sentiments does not ascertain credibility of a property. Credibility can only be ascertained through the process of due verification by a professional.

You need more than the social popularity of a company and estate to make buying decisions as a credible option and as meaningful as family and friends might be, their opinion should never be the yardstick for a choice of property to buy.

2. Omitting the Sales Process: Just like trying to buy an aircraft, gold or any high ticket product. There is a due buying procedure that must be followed and Real Estate is not exclusive from it.

Click to read our Comprehensive Real Estate Buyer’s Guide

3. Refusal to Work with a Gatekeeper: A gatekeeper is an intermediary between a landlord and outsiders. He reviews and sieves who and what to allow access in and what not to. In Real Estate, the gatekeepers in this scenario are, Real Estate Agents, Surveyors and Real Estate Attorneys.

Real Estate Agents are the first point of contact when buying a property. The primary role of an agent is to match you with your desired property of choice.

After working with an agent to secure a property of choice, hire a PROFESSIONAL Surveyor to review the authenticity of the property information provided about the property, if synonymous with what is at the land bureau.

Thereafter hire a Real Estate Attorney to affirm, the seller is its rightful owner as claimed and there are no legal contingencies around the property. He follows up on information on the Deed of Assignment and Loan history of its owner to ensure it was not hitherto used to service a loan collateral.

The value, obviously, can never be overemphasized.

For whatever reason, avoid hiring one person to do all the work. A Real Estate Attorney should never double check as your agent and surveyor and vice versa.

This is to ensure and avoid any form of conflict of interest.

4. Working with Nonprofessionals: 80% of Real Estate buying scams could have been averted if buyers took the right step of working with actual professionals. One common trait synonymous with working with nonprofessionals is, they're mostly motivated by greed.

As is common with the Nigerian system, some nonprofessionals often alter their code of allegiance by giving false reports about a property in a bid to sway the buyer to their property of choice.

To avoid situations like this, confirm a bad report about a property from at least two other professionals before passing.

5. Ignoring the Red Flags: Red flags usually show up in the form of excuses and explaining away situations when requesting for sensitive information and documents to help conduct a due diligence. It can also show up like hasty desperation. This however, does not excuse for undue delay on a transaction.

Owning a property is one of the best investment decisions anyone can ever make. The ROI is non competitive unlike other states. However, one must be smart and follow the right procedure to avoid falling victim to property fraud.

One of our priority investment properties is currently selling in Ibeju Lekki. The property is located behind the Lekki Free Trade Zone and a 5mins distance drive to Dangote Refinery.

The return on investment (ROI) of this location grows at a minimum of 200% per annum.

Take advantage of the prelaunch special discount sale as price increase is due from July 15th.

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We're a Real Estate Agency Firm based in Lagos Nigeria with a prime focus on helping Nigerians abroad and at home make the right buying decision, investing in Real Estate within the Lagos Island and neighbourhood.

We conduct thorough due diligence on properties before recommending to our clients and we’ve helped over 69 families forming the base of our clientele invest and live their dream home.

Investment properties is our core niche.

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I'm Solomon Kingsley
Sales and Marketing
Ajah. 24 Km Lekki/Epe

#Ibeju Lekki with Multi-billion dollars investment FAST Developing Area

#Get plots of Land now! When it's Affordable with a Genuine title document verified in Aluasa Ikeja.

Brit Property Ltd owners Estate in these Area.
Ranges from 1,000,000 to 6,000,000

Title: Excision and C of 0 ( Property )

Site inspection before Payments

Site inspection is free! Come let's go

Buy now!

FACILITIES :
➡️Good road network
➡️Drainage system
➡️Recreational areas
➡️Electricity
➡️Fenced and gated community

LANDMARKS:
➡️Dangote Refinery
➡️Lekki free zone
➡️International Airport
➡️Eleko Beach
➡️Alaro City
➡️Deep Seaport

Buy Now!

☎️ +2349057174725
☎️ +2347066778407

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