Fraudulently lying to subscribers that their estates fall under C of Os and Gazettes.
This is actually an old trick they learnt from Omoniles but have perfected the art and now
marketing same to their subscribers. They have a parcel of land and market it claiming that it falls
under a Certificate of Occupancy. However, when you take a Registered Surveyor to obtain the
coordinates and chart it at the Surveyor General’s office at Alausa, it would indicate that such land
falls outside of the C of O paraded by such real estate company.
Hidden charges and undisclosed fees.
Here is one of the most notorious scams by most real estate companies. At the time of purchase,
they’ll market plots of land to subscribers at certain ‘affordable’ prices, but fail to disclose to
subscribers that there are extra fees to be paid after purchase of the land. Ironically, it’s not
uncommon for these extra fees to be more than the price of the land. For instance, you buy a plot
of land from an estate at Two Million Naira and you’re billed to pay the following extra charges:
250,000 for Survey fees
150,000 for Legal fees
100,000 for Architectural drawings
1,250,000 for Estate Development fee
100,000 for Security fees
100,000 for Supervisory fees
Make sure you click the link to read of other scams so you don’t fall victim.