Seven People You'll Meet On Your Real Estate Journey in Nigeria

Credit: Aramado

Buying or renting a house is a very tricky endeavor. It’s not as easy as buying a bottle of groundnuts. You have to work hard at it and despite your best efforts, you cannot do it alone. Fortunately and, unfortunately, you will meet a lot of characters on your journey. It’s best that you’re prepared to deal with each one should the need arise. Here are some of the likely characters you’ll meet on your real estate journey

1.     Estate Agents, Valuer & Surveyor
As the primary guide on your journey, your agent has a fiduciary responsibility to look out for your best interests. He or she should
stand with you from the early days of thinking about your real estate transaction to the signing the final contract. Ensure that you ask for referrals from friends and family and interview all potential agents until you’re satisfied you’ve found the right one.

2.     419ers/Scam Artists
Unless you’ve got a lot of money to spare it is advisable to note that there will always be a possibility of scammers, fraudsters and 419ers targeting you for a quick payday. They can disguise as agents, landlords, government officials, security men, etc. While their tricks and tactics are numerous, it is always best to seek counsel from a trusted friend or advisor when considering any deal. Ensure that you perform thorough due diligence and get everything checked out by lawyers. A good practice is never to hand over cash to anyone. Always cut a check in the name of the estate agency and keep all receipts, generate a paper trail and records.

3.     Omo Oniles
Once you begin working with an Omo Onile be prepared to work hard and be very vigilant. Though, many of them have given the industry a bad reputation because of their unscrupulous antics; there are still many who take their heritage and position seriously and conduct themselves in a very professional and honorable manner. The trick will be to find the good ones to work with you.

4.     Building expert and general contractors
You should find a building expert to examine the property you’re looking to buy. He/She will be able to identify all potential structural problems and give you a very candid assessment of the situation. An inspector can quickly determine if an appliance is faulty .The expert/general contractor will file a written report that usually includes photos and other documentation of potential risks, but it’s best to participate or attend the inspection so you can ask questions.

5.     Lawyer
Usually, your lawyer will be your first and last line of defense. Hence, it’s critical to secure the services of an excellent lawyer and include him/her as part of your team very early in the process.  Your lawyer will be your shield and sword at the same time. Confide in your lawyer and include him/her in all your discussions.

6.     Account Officer
No real estate transaction is complete without having the money man/woman in your corner.  While you could say your accountant is your designated financial fiduciary, in recent times your bank account officer, has gained some prominence and modest significance in executing of your financial affairs. It’s good practice to keep in close contact with your account officer and get the situational report of your cash position. As an employee in the bank, your officer may be in a good position to brief you on how to conduct the transaction in an efficient manner.

7.     Friends and Family
This expert will help you make the critical spiritual decision of which house to buy and where. They’ll also pray for you, advice you, counsel you and bless the new residence.
When you’re ready to begin your real estate journey, start by contacting your Agent! You can also contact us if you don't have any.
Huios Realtors: +2348063454724, +2347087651431