02/08/2023
Avoiding Scammers in the property industry
Buying properties in Lagos could be an exciting adventure, however, amidst this excitement lies potential property scams that could lead to huge financial losses.
Here, we take a look at some of the steps you should take to avoid scammers in the properties industry.
1. Do your research. Before you start looking at properties, take some time to research the market. This will help you understand the average prices for different types of properties in different areas.
2. Use a reputable real estate agent. A good real estate agent like JIL PROPERTIES can help you find the right property and negotiate a fair price. They can also help you avoid scams by doing their own due diligence on the properties they show you.
3. Don't pay in cash. If possible, only pay for a property through a secure method, such as a bank transfer or wire transfer. Avoid paying in cash, as this makes it more difficult to track the transaction and get your money back if you're scammed.
4. Get everything in writing. Before you make any payments, make sure you have a written agreement that clearly outlines the terms of the transaction. This will help protect you in case there are any problems later on
5. Check the property's ownership and title documents. Make sure the seller is the rightful owner of the property and that the title documents are in order. You can check the property's ownership and title documents with the Lagos State Land Registry.
