WHEN BUYING LAND OR HOUSE, MAKE PAYMENTS ONLY THROUGH BANK CHANNELS

WHEN BUYING LAND OR HOUSE, MAKE PAYMENTS ONLY THROUGH BANK CHANNELS

While making payments for land or house, ensure you do so through bank channels and platforms – bank or online transfer, bank draft or cheque. This will provide the necessary evidence (reflected in your bank statement) you need to prove the payments made.

Making land payment with cash should be avoided by all means. Even if you have cash at hand, pay through the bank and indicate in the payment narration that the payment is for land.
The banker’s books and records are sure safeguards in the event of the need to prove payment.

Even in the face of issuance of payment receipt, making payment with cash is a wrong move. Avoid it. Don’t do it. It leaves you vulnerable to the vendor or his representatives. The authenticity of the receipt could even be challenged.

An insincere vendor could deny the cash payment leaving you frustrated and in the cold. Trust is an expensive luxury you cannot afford. Endeavour not to give your vendor the benefit of the doubt. It is a business transaction, not a family affair. Don’t let your guard down.

Secure your interest and try not to sacrifice your financial and investment interests on the altar of trust, friendship or over-familiarity.

In need of legal help with these and other related matters? Call Apex Chambers, trusted Law Firm of Property, Real Estate and Business/Commercial Lawyers, Barristers, Solicitors, Advocates, Attorneys and Notary Public in Port Harcourt, Rivers State, Nigeria, anytime of the day or night, anyday and from anywhere in the world on +2347030868694.