Crucial Steps for a Foolproof Property Purchase: Don’t Get Scammed!
When it comes to buying land or a house, never rely solely on images, flyers, or videos. Always try to visit the property in person to determine whether it meets your standards. What you see online may not be what you get in reality.
If you are unable to see the property yourself, send someone you trust, such as a family member, friend, work colleague, lawyer, or surveyor. If you cannot find anyone to view it for you, it’s best to forget the property. Doing so might save you from future headaches.
After viewing the property, ask for copies of the title documents, which serve as proof of ownership of the land or house. These documents may include a deed of assignment, survey plan, purchase receipt, excision survey, letter of allocation, contract of sale, will, letter of administration, C of O, Governor’s Consent, Memorandum of Understanding, layout, deed of rectification, court judgment, and more.
Any seller who refuses to provide you with copies of the title documents is a potential con artist. Give the documents to a property lawyer for review, as they can advise you whether to proceed with the verification or not. Experienced lawyers can quickly identify fake C of Os, fake Governor’s Consent, or forged Deeds of Assignment.
A thorough property verification includes physically investigating the land, verifying the title documents at the land registry, conducting a site search at the surveyor general’s office, visiting the courts to determine if the property or seller is involved in any pending legal proceedings, visiting the community to determine if there is an outstanding dispute or court issue, visiting the probate division to verify a will or letter of administration, checking the Cabinet office to ensure the Gazette and Excision are authentic, visiting the surveyor general’s office to verify the authenticity of the coordinates and location on the survey plan, knowing the complete profile of the seller, and investigating the previous owners of the property to know if the land was properly transferred to the seller.
After conducting the search, the lawyer must provide the potential buyer with a search report detailing the search process, investigation results, and final report. The lawyer should also be independent and have no affiliation or ties with the seller.
Avoid using the same lawyer as the seller, as there may be a conflict of interest. Also, avoid asking a friend, co-worker, or family member to conduct the land verification search on your behalf. These searches are often vague, time-consuming, or done sloppily, and if something goes wrong, it may be challenging to hold them accountable.
In conclusion, don’t rush into a property purchase without verifying the ownership or status of the land or house. This investment is significant, and handing over your life savings to a dishonest real estate company or property seller con artist can be devastating. Make sure you do your due diligence and seek the advice of a reputable and independent property lawyer before making any purchases.