How not to fall victim of unrealistic offers of Real Estate Companies

How not to fall victim of unrealistic offers of real estate companies

Unrealistic real estate offers are the special or free offers you benefit when you buy a property.

What most real estate companies use to entice people to buy properties from them is by rendering offers that would make property finders eager to make quick decision to buy their dream home or invest in land.

However, almost everybody loves a product that comes with free offer.

The kind of offer that do come with buying of property is buy 3 plots and get 1 plot free or buy an acre and get 1 plot free. Some could be in form of discount like 15% or more.

Though not all offers are bad but there are some offers that could be risky if you failed to make serious enquiry.

One of my clients narrated how he wished he was accurately informed before making a decision to buy a particular land because of the free offer that was introduced to him.

He bought 2 plot of land in Ibeju-Lekki because of the offer of buy 2 get 1 free, without carefully reading or asking about the terms and conditions.

Did he get the 1 plot for free? Yes, he got it but it was not totally for free. That is where the problem started and he got stuck with the payment.

He was not accurately informed that he would need to pay for the statutory fee of the land.

This is what made me write this article to educate you against unrealistic offers.

How not to fall victim of unrealistic offers of Real Estate Companies

1. Hidden Costs

If you see a property that has offer you are interested in, make sure you ask enough questions about any potential additional cost or the terms and conditions in order not to fall victim of unrealistic offers.

Most offers does not cover the hidden cost known as statutory fees which cover documentation, survey and development fee.

This is where most buyers got stuck with the payment due to misinformation.

2. When it is too good to be true

Unrealistic offers always sound very good to make it attract buyers, don’t fall victim of offers that is a way too good to be true.
Like offers that promise extremely high returns on investment or unusually low prices compared to market rates should raise suspicious. If it seems too good to be true, it probably unrealistic.

READ: 3Bedroom and 2Bedroom Bungalows at Treasure Island Estate with Free Payment Plan

3. Short investment duration

When you are told that you will start generating high returns on investment like 50% returns within six months of investment on land banking. It is unrealistic, don’t fall for it.

Real estate is not a get rich quick scheme. It has to do with patience and delay gratification before you can start making money on land investment but you can easily make quick return of investment on rentals in a developed location.

4. Lack of proper documentation

Be wary of deals that lack proper documentation or have incomplete details. Legitimate real estate transactions should have clear and comprehensive documentation stating all terms and conditions about the property and its offer.

ALSO CHECK: 5 Land for Sale in Ibeju-Lekki with C of O

So, before making any buying decision request for the FAQ form and read thoroughly over and over again until you understand the terms and question in other discover the property transaction clauses yourself so that you won’t be deceived into buying wrongly.

Also note that when it comes to land promo, only the cost of the land is free. Statutory fee is not free, be informed!

Do you need a land or property for residential, commercial or investment purpose? Kindly click the whatsapp button or Call Rukayat on +2349031815426 for consultation.

Rukayat Yusuf
Rukayat Yusuf

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