The Nigerian real estate market offers countless opportunities for homebuyers, investors, and renters — but it’s also a hotbed for fraudulent activities. From fake listings to land-grabbing schemes, many unsuspecting individuals have lost hard-earned money to real estate scams. Here are some of the most common scams and how you can protect yourself.
- Fake Property Listings
Scammers often post attractive property listings online with unbelievably low prices to lure victims. Once a potential buyer shows interest, they demand a “commitment” or “inspection” fee — and disappear once payment is made.
Tip: Always verify the authenticity of listings through trusted agents or platforms. Visit the property physically before making any payment.
- Multiple Sales of the Same Property
In this scam, fraudsters sell or lease a single property to multiple buyers or tenants. This is common with unregistered lands and properties without proper documentation.
Tip: Conduct a thorough search at the Land Registry to confirm ownership before any transaction.
- Title and Document Forgery
Scammers sometimes forge property documents such as Certificates of Occupancy (C of O), deeds, or survey plans to appear legitimate.
Tip: Engage a qualified lawyer or real estate consultant to verify all documents with relevant government agencies.
- “Omo-Onile” Fraud
In Lagos and some other states, “Omo-Onile” (landowners’ children or local land touts) are notorious for collecting multiple fees or reselling the same land to different buyers.
Tip: Deal only with recognized family heads and ensure that all transactions are properly documented and witnessed by legal professionals.
- Rental Scams
This involves fake agents who collect rent or agency fees for apartments they have no right to lease. Victims often find out too late that the property is already occupied or doesn’t exist.
Tip: Always inspect the property with the landlord or a verified agent, and confirm ownership before transferring any funds.
Final Word
Real estate investment can be rewarding when done right. Always verify ownership, use licensed professionals, and avoid hasty payments. Due diligence and patience can save you from costly mistakes.