Real estate remains one of the best investments in Nigeria, but property scams are also becoming increasingly common. Many buyers lose money because they ignore warning signs during transactions.
Here are 7 red flags every property buyer should watch out for.
1. Extremely Cheap Land Prices
If the price sounds too good to be true, it probably is. Fraudulent sellers often use unrealistically low prices to attract buyers quickly.
2. No Proper Documentation
Never buy land without verifying documents such as:
• Survey plan
• Deed of Assignment
• C of O or other title documents
3. Pressure to Pay Immediately
Scammers often create unnecessary urgency to prevent buyers from conducting proper checks.
4. Unclear Land Ownership
Always confirm who truly owns the property. Cases of multiple sales on the same plot are common.
5. No Physical Inspection
Never buy land without inspecting the site physically.
6. No Written Agreement
Every payment and agreement should be documented properly.
7. Lack of Due Diligence
Many buyers rush transactions without conducting proper verification.
The Takeaway
Buying land in Nigeria requires caution and proper research. A legitimate property investment should always involve documentation, verification, inspection, and trusted professionals.
