This is the demolition season in Lagos, and the majority of the houses being demolished were sold by horrible real estate organizations, dishonest developers, or suspicious sellers. To help you avoid becoming a victim of fraudulent real estate developers, here are some warning signs to look out for:.

1. A real estate company that sells land with only a contract of sale and no deed of assignment is a fraud. What are they marketing to you? They do not have complete ownership of the lands and cannot transfer good title to you because they still owe the family or village money and have not paid the community land owners in full.

2. A developer who refuses to submit the land's title documents for verification but insists on giving them to you privately is a scammer. A land document is a public document. There is nothing to hide except the price paid for the land. If the developer does not want you to know how much the land was purchased or who purchased it from, the names and prices can be redacted; nevertheless, telling you that they can only show you a land document in their office indicates that they have something to conceal. 

3. A real estate business that forces you to acquire a property without enabling you to conduct due diligence on it is a fraud. When you hear, "If you don't pay for the land in 48 hours, the price will increase," why is it that when it comes time for you to ask questions about purchasing the land, the price rises?

4. A real estate company that claims it would only offer you a contract of sale after complete payment rather than a deed of assignment is a scam.

5. A real estate company that accepts installment payments from you and then demands you pay additional money not specified in the contract of sale is a fraud.

6. A real estate developer that continues to tell heartwarming stories after receiving money but cannot assign the land you paid for is a scam.

7. A real estate developer that develops residences but cannot provide you with an official building design is a fraud.

8. A real estate business that refuses to provide you the original title documents for the land for sale and constantly gives you some flimsy reason why you cannot see the original copy of the land paperwork is a scam.

9. Be aware of real estate companies that use celebrities on their brochures and posters to entice you to buy their properties. These celebrities will not assist you if the land is terrible and the documentation is defective. Many of these celebrities have no idea what they're peddling.

They are just as confused as you are when it comes to promoting an estate that they are unfamiliar with. Their responsibility is to collect ambassador funds as the face of the real estate company. If anything happens to the land or the money, you're on your own!

You too can add yours to this trend; let's learn from you.

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