DO YOUR INVESTIGATIONS WHEN BUYING PROPERTY: DON’T SKIP DUE DILIGENCE

DO YOUR INVESTIGATIONS WHEN BUYING PROPERTY: DON’T SKIP DUE DILIGENCE

Buying property, land or house in Nigeria without due diligence is like walking blindfolded into a mine field.

Due diligence is thoroughly investigating a property to uncover its secrets – true ownership status, hidden problems and legal issues. Skipping this step can turn your dream investment into a nightmare.

What is Due Diligence in Property Transaction?
Due diligence is your shield against fraud, disputes and financial mess. It involves:

1. Verifying Ownership: Is the seller the true owner? Is the land/building free from disputes or government acquisition?

2. Inspecting the Property: Does the property exist? Are there physical features that make it a bad choice for the buyer?

3. Reviewing Documents: Are all documents genuine and comply with law?

4. Checking Land Use Compliance: Can you use the property for your intended purpose?

The Consequences of Skipping Due Diligence are:
i) Losing Your Money: You could buy a property only to discover it’s embroiled in a legal battle.

ii) Invalid Ownership: Without proper checks your purchase may be void, leaving you with nothing.

iii) Endless Disputes: Claims from family, community or third party.

A Property Lawyer is your detective and guide. He will uncover risks, ensure compliance and protect your property investment.

Do your due diligence or risk losing it all.
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APEX CHAMBERS, best Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers , Solicitors, Legal Practitioners, Legal Consultants, legal services provider and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

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