LATEST LAGOS REAL ESTATE SCAM: THE BUY-BACK PROMISE THAT NEVER MATURES.
1)The “Guaranteed Buy‑Back” Illusion
Some Lagos real estate companies advertise “Buy land today, and we’ll buy it back in 12–24 months with guaranteed profit.” This promise attracts many diaspora investors, but the risk is hidden:
- Most companies don’t have the financial capacity to buy back anything.
- They rely on new investors’ money to pay earlier investors.
- Once sales slow down, the entire promise collapses.
A real investment doesn’t depend on a constant flow of new buyers.
2) The Contract That Protects Them, Not You
Many buy‑back agreements contain clauses that allow the company to escape responsibility:
- “Buy‑back may be extended.”
- “Subject to market conditions.”
- “Company may substitute another property.”
These clauses make the buy‑back optional, not guaranteed. Diaspora investors often trust the branding and skip the fine print.
3) Buy‑Back Is Marketing, Not Investment
Real estate investment depends on:
- Location
- Title
- Infrastructure
- Market forces
Buy‑back schemes depend on:
- Aggressive marketing
- Cash‑flow pressure
- Investor psychology
Diaspora investors fall for buy‑back because it feels “safe,” but safety comes from verification, not promises.
4) Selling Land They Haven’t Secured
Some companies promise buy‑back on land they haven’t:
- Acquired
- Surveyed
- Allocated
- Or even identified on a map
They collect money first and look for land later. This is how many diaspora investors lose money — the “buy‑back” is tied to land that doesn’t exist yet.
5) Inflated Valuation Tricks
A common tactic is to claim the land has “appreciated massively” within months. But when you check the location:
- No development
- No title
- No infrastructure
- No real market demand
The appreciation exists only on paper, not in reality. This false valuation is used to justify unrealistic buy‑back returns.
6) Why You Must Engage a Surveyor for Verification
Before buying any land in Lagos — especially from companies offering buy‑back — a licensed surveyor protects you by:
- Confirming the land actually exists on the ground
- Checking if the land is under government acquisition
- Verifying the coordinates and boundaries
- Confirming whether the land is free from disputes
- Ensuring the land matches what the company is advertising
- Preventing you from paying for bush, waterlogged areas, or restricted zones
A surveyor’s verification is the difference between a safe investment and a costly mistake.
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Author: Surveyor Noah Folarin
TEL: +2348037046468 (WHATSAPP)
EMAIL: CRYSTALSURVEYSLTD@GMAIL.COM
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