WHEN BUYING LAND OR BUILDING, INVESTIGATE IT

WHEN BUYING LAND OR BUILDING, INVESTIGATE IT

One of the most costly mistakes people make when buying land/house and which has proven to come with very terrible and mostly irreparable negative consequences is the failure to do due diligence (investigations) in land/building transactions.

Due diligence is a conscious effort to investigate ownership of the land you want to buy. Probe and ask questions. Do secret investigations. Scrutinize every information given to you by the seller, his representatives and agents.

Try 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 principal members of the family.

So ask yourself these questions: Who truly owns that? What is the actual size or boundaries? Are there legal issues surrounding the land? Could it be land subject to Government acquisition or already acquired by the government for public interest purposes?

Is there a pending court case or issue that if you are aware of, would make you have a rethink over buying it? The list is long. It never ends well when things go wrong.

You would have to battle with imminent or definite loss of your investment. Do not be caught off-guard. Remember some cases are beyond remedy.

Get a Property and Real Estate Lawyer to do these findings.
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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 in Port Harcourt, Rivers State, Nigeria

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