7 Simple And Effective Tips To Protect You From Real Estate Scam

Real estate scam is a global occurrence, but you can guide yourself against becoming a victim.

With the ever increasing rise in housing deficiency and the rising cost of rental accommodation, there has been a global upswing in the fraud schemes, with scammers upping their games constantly.

So the real question is: how do you know if you’re about to fall victim of real estate scam?

The truth is you can’t know if you are about to be scammed

But there are warning signs and tips you can take to protect yourself against the activities of scammers.

1. Do Your Due Diligence!

Be detailed before you put your money down. It is your hard earned money. Why would you throw it around carelessly?

Don’t be in a haste to pay; refuse to be rushed or pressured into getting a property.

If they say it’s too good to pass up, check it and be sure, otherwise forgo it!

There will always be better and genuine deals.

They might not come often but they will come, so take your time and do your assessment well.

2. Verify The Real Estate Agent, Company Or Developer You’re Working With In The Real Estate Transaction.

If your gut feeling tells you something is wrong with any of the person involved in the real estate transaction;

Then you need to step back do more research about that person.

Don’t work with any person you have no confidence in.

If you are buying from a developer, verify their office address and check their track record.

Don’t take whoever you work with at face value to ensure that you do your homework on that person.

This is the modern era, search the individuals online, ask other people for referrals and review their previous works.

3. Avoid Paying Cash

If the homeowner or agent is asking you to pay in cash then you should tread carefully of that real estate transaction.

The problem with paying in cash is that the money is not traceable unlike paying in a bank.

Instead you insist on writing checks or paying at the bank as this means of payment does not leave you hanging dry if the transaction goes wrong.

You want to be able to hold someone liable when all is not what they seem; so be careful and avoid payments you can’t trace.

If the agent or house owner is unyielding about paying in cash, then that is a warning sign that you are about to fall for a real estate scam, you need to step back immediately from that transaction.

4. Go For Physical Site Inspection

It is extremely important you visit the purposed site, house or land. This is to ensure there is actually a property (land or house) available for sale in the said location.

And also familiarize yourself with the environment.

If for any reason you cannot go, (especially Nigerians in the diaspora) you can ask a trusted relative to inspect on your behalf.

Just ensure this is done before payment.

5. Work With A Credible And Professional Real Estate Consultant:

First, ensure you arrange a physical meeting with the agent to know whom you are dealing with. Interact and gather as much as you can afford to know about him and his track record.

How long has he been in the business? Is he reliable? Is he consistent with what he does? Can he be trusted?

Secondly as a professional, he should be able to go through the process with you, to avoid the common pitfalls that happen when it comes to investing in real estate.

6. Never Pay To An Agent Or Realtor’s Personal Account

While dealing with developers and real estate firms, it is usually stated in the terms of transaction that all payments should be paid directly into the developer’s account, not the realtor.

Please take note of this.

When you pay into the Realtor’s account, the company cannot be held accountable.

And that automatically confirmed you have fallen victim to real estate scam.

7. Ensure You Get All Necessary Documents.

From receipt of payment, to acknowledgement letter, contract of sales, registered survey and deed of assignment, endeavor to get all of them. These are what validates your ownership of the said property.

Good News For You

What if there is a way or system of Investing in Real Estate without so much of hassles and stress.

More like a proven “plug and play” system where all the due diligence has already been done and safety of investment is guaranteed.

The good news is that We’ve designed a fool-proof verification system that ensures you don’t run into trouble with the Government, trespassers (Fraudsters) or thugs (omoniles) who are out to make life unbearable for you.

Why You Should Work With Us

We are bold to say that we have already helped hundreds of smart Nigerians like you achieve these dreams by focusing on the safest, easily affordable opportunities in trouble-free locations;

We believe we can help you too.

Proper Due Diligence

At Real Estate Best Deals, all the properties in our portfolio go through a proper verification process before being enlisted.

We ensure that these properties are free from any known government Acquisition and have never been sold to any one before you buy.

Affordable Luxury

Affordable luxury for all is our mantra. With us, you can get affordable lands and properties in first class neighborhoods at the best deal.

High ROI

At real estate best deal, your investments are safe, secured and with high potential for massive real time appreciation.

Right Information

We don’t just sell, we educate and rightly inform you about the trends and latest development in the industry.

We help you discover properties poised for rapid growth and with our counsel (via weekly updates) you can’t be left behind ..,.we ensure you are rightly informed.

If there is any business in Nigeria that is truly lucrative and extremely profitable, it has to be Real Estate business in Nigeria.

However, you need to be armed with the necessary information and skills yo be successful at real estate investment.

You need to understand how the industry works. Get familiar with the terms, understand the trends and know profitable locations.