MAKE PAYMENTS ONLY THROUGH BANK CHANNELS

MAKE PAYMENTS ONLY THROUGH BANK CHANNELS

While making payments for land or house you are buying in Nigeria, do so through bank channels/platforms (i.e. banking hall, bank app, online transfer, bank draft or cheque.

This will provide the necessary evidence (reflected in your bank statement) that you need to prove the payment you made.

By all means, avoid paying for land or building with cash. Even if you have cash at hand, pay through the bank and indicate in the payment narration that the payment is for the purchase of land or house.

The bank’s books and records are very useful when you need to prove payments for land and house.

Even when you will be issued a payment receipt, paying with cash is a wrong move. Don’t do it.

It leaves you vulnerable to the seller 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 in property transactions is an expensive luxury you cannot afford.

Try not to give your seller the benefit of the doubt. It is a business transaction, not a friendship or family affair.

It is serious business and must be treated as such. Don’t let your guard down. Secure your interest and do not sacrifice your financial, property and business investment interests on the altar of trust, friendship or over-familiarity.

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APEX CHAMBERS, Award-winning Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors, Advocates, Counsel and Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls and Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com