WHEN BUYING A LAND OR HOUSE, EMBARK ON DUE DILIGENCE

WHEN BUYING A LAND OR HOUSE, EMBARK ON DUE DILIGENCE

One of the most costly mistakes that people make in buying land and house, which has proved to come with very terrible and oftentimes irreparable negative consequences is the failure to do due diligence before committing to land transactions.

Due diligence entails a conscious effort to investigate ownership of the land or house you have set out to buy. Probe and ask questions. Do discreet and covert (secret) investigation.

Scrutinize every information given to you by the vendor and his representatives and agents. Endeavour not to take this for granted. Things are not usually the way they seem. Make proper findings.

Family land cannot be validly sold without the consent of the family head and the principal members of the family.

So ask yourself these questions: Who truly owns that land or house? What truly is the size or boundary? Are there legal issues surrounding the land?

Could it be a land or house subject to government acquisition or already acquired by the government for public interest purposes? Is there a pending legal issue that if you are aware of, would make you have a rethink over the buying? The list is long.

It never ends well when things go wrong. You would have to battle with imminent or definite loss of investments. Do not be caught off-guard. Remember some cases are beyond remedy.

The need for due diligence can never be over-flogged. Never, never, never.

So if you need help with due diligence or any property or business transaction or matter, call Apex Chambers now on +2347030868694.