HOW DUE DILIGENCE SAVED A CLIENT FROM BUYING LAND SET ASIDE FOR CEMETERY

HOW DUE DILIGENCE SAVED A CLIENT FROM BUYING LAND SET ASIDE FOR CEMETERY

At Apex Chambers, we recently handled a property purchase transaction that shows the importance of proper legal due diligence (investigations) in real estate transactions.

A client residing in Germany contacted us, seeking to buy land near Port Harcourt from a real estate company. Being very much aware of the high risks involved in buying land, he engaged our law firm to conduct a comprehensive investigation before making any commitments.

Our due diligence process involved a meticulous review of land records, physical site inspections and inquiries with relevant government agencies.

Our findings revealed that the land in question was designated by the government for use as a cemetery. Had the client proceeded with the transaction without legal checks, he would have invested in a property unsuitable for his intended purpose (residential property), leading to big financial loss and possible demolition by the authorities.

This explains the need for expert legal guidance in real estate investments. Many unsuspecting buyers fall victim to fraudulent sales, dispute land or government-acquired properties due to a lack of proper checks.
__________________
APEX CHAMBERS, award-winning best Law Firm of reliable Property/Real Estate and Business Lawyers, Attorneys, Barristers, Solicitors, Legal Practitioners, Legal Consultants and Notary Public with 17 years experience and Law Office in Port Harcourt, Rivers State, Nigeria.

Phone: +234(0)7030868694

Email: info@apexchambersglobal.com

Website: www.apexchambersglobal.com