How to Assist Nigerians Abroad own a Property in Ibeju Lekki Lagos Without Being Scammed
Purchasing land in Nigeria can come with challenges. So many Nigerians abroad have had to part with their hard-earned money to scammers, and or have lands not up to their expectations bought for them. The saying that ‘what you don’t know won’t harm you’ doesn’t apply here – as the money involved with getting even the cheapest land is still huge. This piece is an advisory towards making a successful property purchase without being nobbled for Nigerians in diaspora who want to invest in properties in Nigeria.
We will examine four categories of buyers and proffer solutions.
- THOSE THAT MAKE PAYMENT FOR COMMITTED LANDS
This is a very easy way to lose your land as well as your money– where the land is committed for government use – This usually happens when you do not buy lands from real estate companies.
The seller, usually omo-nile (Land grabbers) knows the land can never be excised, but will not disclose to you and if you do not have a proper knowledge to engage the services of a surveyor or lawyer to chart the land and/or verify the title claim on the land – this unavoidably is the result.
- OUR SUGGESTION:
If you are buying a land from omo-nile – though, we do not recommend this no matter how attractive the offer is, but if you must then:
– Your due diligence is required not only in title verification
– Discover which family owns the land?
– Is there dispute on the land?
If on the other hand you are buying from a real estate company, which is what we recommend at all time as these companies cannot sell disputed or committed lands to unsuspecting buyers, however, for benefit of doubts, it is necessary you request someone to carry out the following before making payment:
– Get a copy of the survey for the estate
– Get a surveyor to chart the land of it is free from acquisition or committed to government use
– Go to land registry to verify title the company is claiming for the property.
– Once the land is not committed, and the title is verified, you can make your payment.
- FAMILY MEMBERS INSINCERITY
There are such cases where Nigerians abroad, based on trust send money to relatives to assist them in buying land – they come back to Nigeria and the surprise land they got is that – no land was purchased and not even proves that money was sent to such family member, and in a lot of cases, such family will go to any length to prove no money was ever sent to them. How to go about this if you are engaging a family to buy from a real estate company:
FIRSTLY, do you have a Nigerian bank account? If you do, it’s simple!
– Fund your Nigerian account
– Do a transfer from your Nigerian account to the real estate company
– Engage your relative to follow through for your documents and allocation.
If on the other hand, you are sending money through a relative based on trust, follow the process above, but this time to your relative’s account. When this is done – get them to acknowledge receipt of the money and save the acknowledgement – we recommend mail as mails don’t lie – This addresses the issue of proofs that you actually sent them money.
SECONDLY, try involving a third party – it shouldn’t be all between you and your relative. You can involve a friend, a real estate agent/consultant – this has to come from you – to witness this and follow through to ensure money is received and the purpose, for which it is sent, is carried out – if there is any suspicion, the third party introduced by you should raise alarm about it early enough.
- MAKE PAYMENT VIA REAL ESTATE AGENTS/CONSULTANTS
This is an outright NO! Not because there are no trusted agents/consultants out there, but because you do not know who the bad eggs in the industry are – so play safe by ensuring money is sent to the right account only and politely let your agent know you prefer to pay directly to the company’s account – do not accept excuses at this point. How to go about this:
- OUR SUGGESTION:
– Request for the real estate company’s account details from your agent/consultant
– Don’t accept anything short of corporate account
– Make your payment to the account which must not be individual account.
– Demand soft copies of your receipt to be scanned to you
- PROPERTY PURCHASE BELOW THEIR EXPECTATION
There are other cases where money sent was actually used in purchasing a land – but the land is completely different from what the buyer had in mind – there are cases of water-logged land instead of dry land, remote location that may never appreciate in one’s lifetime – instead prime location with high rate of returns.
We are in digital age where you can and this has made a lot of things easier. Do not accept just pictures of land if you fear the location being proposed is not what it is – involve a third party to clear your doubts.
- OUR SUGGESTION:
– Request a video of the estate being proposed to you
– Get a close family or friend to do physical inspection on your behalf
– Verify that the estate is actually what it is in the video you received
– Verify that the major landmarks that were communicated to you by your agent/consultant
Contact us for more assistance in acquiring your desired property here in Ibeju Lekki Lagos. We have helped many satisfied client in Diaspora.
Contact FAE Concepts
+234 (0) 806 709 3374