Identifying fraudulent real estate transactions in Nigeria can be challenging, but there are several warning signs to watch out for:

  1. Unusual Payment Methods: Be cautious of real estate transactions that require payment through wire transfer, gift cards, or cryptocurrencies, as these methods are often used by fraudsters.
  2. High-Pressure Sales Tactics: Be wary of real estate agents who are pushy and try to get you to make a quick decision, as this may be a sign of a fraudulent transaction.
  3. Requests for Advance Payment: Fraudulent real estate transactions may involve requests for advance payment, such as a deposit or down payment, without a clear explanation of how the payment will be used.
  4. Incomplete or Missing Documentation: A lack of proper documentation, such as a title or property ownership certificate, may indicate a fraudulent real estate transaction.
  5. Unusual Property Descriptions: Be cautious of properties that are described as “hot deals” or “once in a lifetime” opportunities, as these may be false claims made by fraudsters.
  6. Misleading Advertising: Be wary of real estate advertisements that make exaggerated claims or contain false information.
  7. Unresponsive or Unavailable Agents: If the real estate agent is unresponsive or unavailable, it may be a sign that the transaction is fraudulent.

To avoid fraudulent real estate transactions in Nigeria, it is important to thoroughly research the property, the real estate agent, and the company. It is also advisable to seek legal advice from a real estate lawyer to ensure that the transaction is legally sound and that your rights are protected.


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