WHY YOU NEED DUE DILIGENCE WHEN BUYING LAND OR HOUSE IN NIGERIA

WHY YOU NEED DUE DILIGENCE WHEN BUYING LAND OR HOUSE IN NIGERIA

Due diligence is a complete investigation and verification process carried out before buying land or a house in Nigeria. It involves checking the property’s legal status, ownership history, physical condition and compliance with government regulations.

It is a background check on the property, to be sure it is free from problems.

Why is Due Diligence Important?

1. Avoid Fraud: It helps uncover fraudulent seller, fake documents or property about to be sold by unauthorized persons. This protects you from scam.

2. Legal Compliance: It ensures the property has genuine ownership, free from disputes, issues (like pledge, reservation or mortgages) or government acquisition.

3. Informed Decision-Making: It exposes the property’s value, boundaries and likely risks, enabling you to make a sound and confident investment.

Consequences of Skipping Due Diligence

× Financial Loss: You may buy a property in dispute, leading to costly legal battles or loss of the property.

× Invalid Ownership: Without proper checks, your purchase may be deemed invalid, leaving you without legal right to the property.

× Stress and Uncertainty: Land issues like unpaid taxes, ownership claims or boundary disputes can disrupt your peace of mind and plans for the property.

Due diligence is a process that requires legal expertise. Get a Property Lawyer.
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APEX CHAMBERS, top Law Firm og very experienced Property/Real Estate Lawyers, Attorneys & Barristers, Solicitors, Legal Practitioners, Legal Consultants and Notary Public rendering legal services with Law Office in Port Harcourt, Nigeria

Phone: +234(0)7030868694
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