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✍️ From the Founder: The Biggest Mistakes I See Buyers Make

March 14, 2021
Nasir Farah
Nasir Farah
Founder & CEO, Ifiye Properties

The same five mistakes cost Mogadishu buyers millions every year. Here they are, in the order I see them most.

I've sat across from hundreds of buyers in this city. The successful ones are different from each other. The unsuccessful ones are almost identical. They make the same mistakes, in the same order, every time.

Mistake 1: Falling in love before verifying

Buyers walk a property, picture their family in it, and decide before they've seen a single document. From that moment, every red flag gets rationalized. Emotion is the most expensive currency in real estate. Verify first, fall in love second.

Mistake 2: Trusting verbal ownership claims

"It's been in the family for thirty years" is not a title. "Everyone knows it's his" is not a deed. In Mogadishu's market, verbal ownership without paper backing is the single most common source of catastrophic loss. We see it every month.

Mistake 3: Skipping the heir conversation

Many properties in Somalia have multiple inheritors. A seller might genuinely believe they have full authority — and still legally not have it. A real broker checks the entire chain, not just the person holding the keys.

Mistake 4: Underestimating the after-purchase costs

Buyers budget for the property and forget that owning it is a separate expense — fencing, security, maintenance, utility hookups, property tax, sometimes legal cleanup of past disputes. I always tell clients to add 8–12% on top of the asking price for first-year true cost.

Mistake 5: Choosing the broker last

People spend three months choosing a property and three minutes choosing the agent who handles their money. That ratio should be reversed. The right broker prevents losses you'll never even see.

The pattern underneath all five

Every one of these mistakes shares the same root: speed without scrutiny.

Mogadishu's real estate market is generous to the patient and brutal to the rushed. If you slow down at the verification stage, you'll move faster, safer, and richer for the rest of your life as an owner.

My one-line rule

If you can't explain the property's full ownership history in two sentences, you are not ready to sign. Walk away and call us.

Nasir Farah
Nasir Farah Verified

Founder & CEO, Ifiye Properties

Nasir Farah is the founder and CEO of Ifiye Properties. He leads the firm's mission to bring trust, transparency, and verified listings to Mogadishu real estate — serving both local buyers and the global Somali diaspora.

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