A real estate scam is such that the ‘seller’ of the property goes ahead to make transactions that will either defraud the purchaser of his money or extort more than what the property is worth. In some cases, the ‘seller’ sells the property to several buyers. This is one of the common scams that are involved when buying a house in Abeokuta.
So the question is how do you recognize a scam and how can you prevent or avoid these scams? This article will enlist some steps you can take to avoid scams when buying a house in Abeokuta.
5 Steps to Avoid Being Scammed When Buying a House in Abeokuta
The steps to take to avoid being scammed when buying a house in Abeokuta include:
- Do not rush into buying any house
- Employ the services of a good real estate agency or realtor
- Go to inspect personally
- Take note of the price
- Do not hand out personal information and do not pay in cash
1. Do not rush into buying any house
When planning to buy a house in Abeokuta, one should take the time to evaluate the deal before him. Based on your preferences you might find a lot of properties that fit what you desire but if you do not settle and properly evaluate the deal, you might end up being defrauded of your money. So what can you do?
When buying a house in Abeokuta, do your research. Make queries as to the property in question. Do not allow your judgment to be clouded by sentiments or excitements. These fraudsters will do everything to pander to your sentiments so that you can give in to their offer.
2. Employ the services of a good real estate agency or a good realtor
You should get a real estate agent involved or a realtor when buying a house in Abeokuta. They will make inquiries about the house in question and help you vet the property properly. They will also help to evaluate the property and the price range it will cost in the market. One should take this step seriously if he does not want to be swindled of his money. One good real estate agency you can use when buying a house in Abeokuta is Rush Homes and Gardens.
3. Go to inspect personally
If the seller is trying to prevent you from inspecting a property, you should take that as a sign to turn away. Yes, it seems like a no-brainer, but it is a simple principle that one can forget to take seriously. Inspection is non-negotiable and you should cancel all negotiations made if you are not allowed to inspect especially when buying a house in Abeokuta.
4. Take note of the price
Take note of the price the house is being sold for. Compare it with the price of houses sold in that area. If the price of the house is low, you should be wary that something fishy might be going on behind the scenes. You should get legal services and search for the property on governmental listings.
5. Do not hand out personal information and do not pay in cash
Do not give your personal or your bank information, either over the phone or over the Internet. Do not also make your payment in cash, as it will be difficult and almost impossible to track the transaction in case anything happens. In any case, ensure to get a receipt and pepper documentation for all payments made.
Bottom Line
It is not uncommon to come across untrustworthy elements when searching for or buying a property in Abeokuta (or anywhere else). To avoid scammers, follow the steps discussed above and protect your finances and other interests in the market.
