DO DUE DILIGENCE (INVESTIGATIONS) WHEN BUYING LAND OR HOUSE
If you are planning to buy your own land or building, before you pay remember that due diligence (investigation) is your first line of action.
Due diligence means thoroughly investigating a property before you pay for it. It is background check for your proposed investment.
First, demand to see the seller’s original ownership documents. Then get an experienced Property Lawyer to visit the land and verify the documents. He will confirm if the seller truly owns the property or not.
Don’t just take the seller’s word for it. Talk is cheap. Anybody can claim to be what he is not. Don’t let looks deceive you.
The Property Lawyer will also check if there are disputes, court cases or family quarrels tied to the property and he will inspect for unpaid taxes, government acquisition or hidden debts.
There is a lot you stand to lose if you don’t engage a trusted Property/Real Estate Lawyer to make findings over land/building you want to buy.
In these days of widespread dishonesty and fraudulent activities, you will be shocked to know what he will discover. Investigating a land/building you want to buy will save you a lot of trouble and losses.
Many have made the mistake of not getting professional legal help in making findings.
Investigate before you invest. That is the safe way to buy land/house.
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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria