- Neglecting Title Verification
Always verify the title documents of the property, such as the Certificate of Occupancy and Deed of Conveyance, to ensure the land is not encumbered or government-acquired. This step protects you from legal disputes and unexpected ownership issues. - Failing to Investigate the Seller’s Credibility
Ensure that the seller is legitimate and authorized to sell the property. If the seller is an agent, request a letter of authorization from the property owner. To minimize risk, work with reputable real estate firms, such as Dapo Olaiya Consulting. - Overlooking Land Survey and Boundaries
Hire a licensed surveyor to confirm the property’s size and boundaries. The survey will also ensure that the property lies within the correct government-designated zones, preventing future encroachment issues. - Disregarding Zoning Regulations
Check that the intended use of the land aligns with local zoning regulations, whether residential, commercial, or industrial. Understanding zoning rules will help you avoid restrictions or penalties in the future. - Ignoring Soil and Flood Risk Assessments
Some areas in Port Harcourt may be prone to flooding or have unsuitable soil conditions for construction. Conduct thorough research into the local topography and soil quality to avoid costly construction problems or environmental damage. - Relying on Verbal Agreements
Never rely on verbal agreements for property transactions. Ensure all agreements are documented and signed in the presence of a lawyer or legal advisor to guarantee their legality and prevent future disputes. - Overlooking Future Development Plans
Investigate any upcoming infrastructure projects or developments in the area that may impact the property’s value. This foresight can help you make an informed investment and avoid future surprises.
