How to Buy a Land in Nigeria from Abroad Without Fear of Scam
Are you a Nigerian? Are you living abroad? Are you afraid of losing money to fraudsters or even friends and relatives? Or Are you worried they may buy you a cheap land just so they can keep some money for themselves?
These are valid concerns to have and you are not alone. Many Nigerians abroad who want to invest in Nigeria’s real estate have these concerns and reservations too. This is and has always been some of the challenges those abroad faces. In this article however, shares some tips to buying a land in Nigeria from abroad without fears of being scammed, and also without fears of being short changed for a less valuable land
How to Buy a Land in Nigeria without Losing Money and Making a Wrong Investment
Buying land in anywhere in the world involves some risks, so whether you are living in the country or abroad, buying a land in Nigeria also comes with its own risks. The risk is substantially higher when you are not even in the country to handle things yourself. The two challenges you’ll face are:
1. Deciding who to trust to handle the money you send to Nigeria to buy a land.
2. How to ensure they will not just buy you a land in a waterlogged underdeveloped area and lie to you about it.
To remove all doubt completely, I would advise you travel down to Nigeria, handle the project yourself and then travel back. No one can manage your affairs better than yourself. It will take a day to inspect the land and get the receipt. Most real estate companies don’t allocate properties immediately because they allocate in batches and not single units. Some allocate 90 days after purchase. Here’s what you can do, you can travel back after inspection and then travel down again on the day of allocation but if you can’t do that, you can have a representative or relative get your documents for you. If you don’t want your relatives involved, your real estate agent can do that for you. What really matters is that you’ve seen the land you’re buying, that you know who you’re buying from and who you’ve handled payment to.
If you would like to buy a land in Nigeria, but cannot travel down to Nigeria just yet, then you should open a bank account in Nigeria. Most banks in Nigeria, allow Nigerians living abroad to open an account with them and operate it from abroad. Here’s how a Nigerian based abroad can open an account with GTB in Nigeria. If you would prefer to use a different bank, you can look that up on Google, simply type in the search box
‘How to open an account with *Insert the name of the bank* living abroad’
After opening an account, then you can find an estate you like. For starters, you can go through the listings on our website.
Contact a reputable real estate agent or consultant on +2348060565721. Request for a copy of the survey plan for the land and also request a video inspection of the land. A video inspection allows you to see exactly what you are paying for before you make payments. From the Video inspection you’ll be able to tell whether the land is waterlogged before making payments, which is an important criterion to check before purchasing a land. The video inspection would make it feel like you are there in person.
Tip One: this is part of the services we offer, and it would be a pleasure to work with you. You can use any of the contact details on this site to contact us any day, anytime and we would be glad to serve you. Let’s work together to find that property that suits you.
If you are satisfied with the land or property, you can then send the equivalent of the amount to your bank account in Nigeria. From there, you can conveniently transfer to the company to make your payment. This way you can be sure you are paying directly to the company and not any third party or middleman.
Tip two: Some real estate companies accept foreign currencies so it may not be necessary to open a Nigerian Bank account. They mostly accept Dollars, Pounds and Euros.
There is a tendency of having problems when you send money to a third party. Never send money to a real estate agent directly or any other third party. Doing so would risk you losing all your money. Sometimes you may even have evidence that you transferred money to the person but would you have the time to battle it out in a court should this person choose to keep the money to himself? I really doubt that! Do not risk losing your relationships or causing disputes with family and friends by giving then the task of handling your money. Seek a professional to help you out.
These are the two options that you can choose from to eliminate any form of risk or doubt when you buy a land in Nigeria while living abroad.