In Lagos, people are duped of their land almost everyday. There are a few things buyers must be aware of or find out, before buying land in Lagos to avoid being duped.
COMPANY’S REGISTRATION & OFFICIAL WEBSITE
Aside a firm having a name, every genuine and qualified estate agent must be registered with the CAC (Corporate Affairs Commission). The agent must have a brand name. There must be a registered company/brand name. It must also have a verified company registration number. Do not deal with individuals by preference.
All genuine real estate firms should be happy to publish and provide prospective patrons with their registration numbers at any given time. The registration number is always found at the company’s profile (About Us) on their official websites. Of course, you can request the company’s registration number. Every genuine and qualified company must provide patrons with its official registration number upon request. You can verify the company’s reg. Number by visiting the CAC office in Abuja. You can also hire a trusted lawyer or chartered secretary to do the verification. All these must be done prior to payment for land.
STANDARD OFFICE
Most fake agents do not have a standard and conducive office. If you want to buy land, ensure that the transaction and related communications take place in the company’s office. Avoid holding land transaction with an agent in a restaurant and fun places. Request the agent to show you of the property afterwards. All related communications and transactions must be done in the supposed agent’s office. Ensure that you are at the right office and not in an environment set up to defraud people. Ensure that the office address you visited is the same as the one listed on its official website.
A genuine and qualified real estate agent does not incorporate or attach his career to a different profession. For example, some offices placed on the website or advertised in a magazine might finally turn out to be another firm altogether. A genuine and qualified real estate agent firmly stands out and cannot operate under the umbrella of any other firm. Although there are lawyers who engage themselves in estate management, a genuine real estate agent could also deliver a satisfactory service and information about estate management on request.
Lawyers, it should be stressed have some specific services to render in estate transactions.
COMMUNICATION
All related communications in land-buying transaction must be conveyed through the company’s registered communication plotform or site. Ensure that your email communication is being conveyed through the company/brand name.
THE EMAIL ADDRESS MUST QUOTE EXACTLY THE COMPANY/BRAND’S NAME & WEBSITE
Every genuine and qualified real estate firm must operate with an active official phone number (land line/table phone). You can verify the landline on its official website. Please be wary of real estate agents operating and running service on only mobile phones. There must be an office contact phone (land line/table phone) and not a mobile phone. You must try to differentiate between the two. Most fake agents operate only mobile phones, which easily enhances their illicit acts. Although there could be personal/private contact numbers between the workers, but ensure you initiate first phone communication through the company’s office phone (land line/table phone set).
PAYMENT
The payment (net sales) could be made into the agent’s or property owner’s bank account as agreed on the buyer/seller deed. Of course, the agent’s account holder’s name must be his company/brand name. Always, insist that, at least, the commission be paid into the agent’s official company account. Fake agents hardly operate company account. You can never lose your money while dealing with genuine real estate agents and refund is guaranteed should anything go wrong in the transaction
BUYER/SELLER AGREEMENT
A real estate agent who is authentic must be able to provide buyer with buyer/seller agreement before the transaction. This is an official agreement between the agent and the buyer/seller. He must communicate the commission and other necessary information about the transaction. All these must be outlined and agreed by the parties involved prior to payment and conclusion of any transaction. The agreement must include the agent’s official brand name, logo and other vital information as well as that of the buyer/seller.
DOCUMENT VERIFICATION & AUTHENTICATION
The moment you resolve to buy a property, the first thing is to hire a reliable lawyer to oversee the property documentation and verification. The lawyer would do the verification to ascertain the legitimacy and authenticity of the real estate agency. There are many required documents to be ascertained and verified prior to payment. Hiring a lawyer could be an added cost, but at the end, it serves the purpose
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