The real estate industry in Abuja has been faced with several challenges, one of which is land scams. In places like Abuja, where the demand for real estate is greater than the supply, cases of land scams have skyrocketed.
According to the chairman of the Economics and Financial Crimes Commission ( EFCC), land scam is the biggest scam going on now in the Federal Capital Territory.
In this blog, we will consider how land scams work in Abuja and how you can protect yourself from being a victim.
Land scams in Abuja come in various forms but some common tactics include:
1. Fake Location
Some of these scammers post properties or lands that do not exist at all. Innocent Nigerians, especially those living abroad and unable to physically check out these locations fall for the bait and end up being duped of their hard-earned money.
2. Fake Documents
Traditional land owners called Omo-onile can forge documents of existing properties and front as the legitimate owner. They present these carefully forged documents to the victims as genuine whereas they are fake.
Some real estate sellers sell land with documents in view and use this as an avenue to scam innocent people.
Also Read: How to Easily Spot Land Scams in Anambra [Latest Trends]
3. Inflated Fees
You may be pressured to pay exorbitant signing fees or development fees to community leaders.
Omo- oniles sometimes use violence and threats to coerce payments or force occupants off the land. In high-value urban areas like Abuja and Lagos, these omo-oniles overhype the cost of property and lands.
Real estate agents and companies sometimes charge very high fees in their contracts.
4. Selling lands that have not been fully paid for
Sometimes real estate companies make agreements with the omo-oniles to buy lands from them for resale. They may pay a fraction of the cost of the land to the moon oniles with the promise to pay the remaining in installments.
Some of these companies do not fulfill their promise to these landowners after selling lands to individuals.
When the omo-oniles run out of patience, it is unsuspecting individuals who buy these lands that bear the brunt of the breach.
5. Selling properties that have court cases
Some lands are in the court for dispute on ownership, frauds, etc yet land scammers in Abuja and other places go ahead to defraud unsuspecting victims over the same land.
Traditional landowners called Omo-onile often sell the same land to two or more different people. This will eventually result in disputes that may end up in court.
Before buying a land, check for signs of development on the land or that someone else has taken ownership of the land.
If you notice anything of such, the best thing is to steer clear of such lands so you don’t waste your hard-earned income.
Also Read: What Are the Fastest Developing Locations in Abuja for Real Estate Investment?
6. Selling properties that belong to the government
Some omo-onile in lagos are so dubious to the extent of selling lands that belong to the government.
They know the lands belong to the government and are not to be sold yet they go ahead to sell those lands to people.
This is why whoever wants to purchase a land must do their due diligence before buying any land from anyone.
Some lands have been barred by the government and whoever purchases them is just wasting money.
You need to employ the services of a land verification expert to know the status of the land you are about to purchase.
7. Selling properties that have outstanding issues with the community or family members
Some lands have issues already such as disputes on ownership, yet some scammers portraying themselves as real estate companies still go ahead to sell those lands to innocent victims.
How to Protect Yourself from Land Scams in Abuja
Do thorough research
Before you buy any land, make sure you do thorough research about the land or property. Find out who the original landowners are.
You can make inquiries at the local government office or people who live in the area where the land is located.
Always verify the authenticity of any land document you receive from the seller or their representative. Through a detailed research, you can discover existing ownership disputes on the land you are about to purchase and back off.
Let all processes be written down
Make sure everything is documented. All documents like the bill of sale, terms of payment, etc must be properly written and kept. They will certainly be handy in the occasion of dispute.
Work with trusted real estate agents
When you work with certified real estate agents, your risk of falling for land scams, especially in Abuja will reduce greatly.
Make sure to work with real experts not those hungry for a commission. Any agent you work with must be duly registered under a government body or association. Trusted real estate agents will help you with a smooth transaction.
Also Read: What You Should Know About The Deed Of Assignment in Abuja
Hire a lawyer
A lawyer will help you protect your interests and ensure a legitimate transaction when you buy lands from omonile.
Employ the services of a lawyer especially those specialising in real estate. They can with their wealth of experience help to uncover potential red flags that could lead to fraudulent transactions.
A lawyer will help you verify how authentic are the signatures, stamps, and seals on the important documents.
Scammers are going above and beyond with forgery these days such that an expert is important to discover their nuances.
Take caution with advanced payment
Be careful with those sellers or agents who are in a hurry to collect payment. Sometimes, this may be a pointer to a land scam.
Some land scanners will even offer you huge discounts and very low prices. If the deal sounds too good to be true, it’s most likely a scam.
Conclusion
Land scams are becoming more frequent in urban areas like Abuja.
We have considered the various tactics scammers device such as fake documents, fake locations, inflated fees, and selling lands that have problems.
Thorough research, documentation, working with real estate agents, hiring a lawyer, and being very cautious are ways you can protect yourself from land scams.
Don’t be a victim of land scam in Abuja. Reach out to me on +2348033352126 or click on this phone number to send me a WhatsApp message, +2348033352126
