Buying a property is a significant real estate investment, and ensuring that all necessary documents are authentic is essential to avoid fraud. Property scams have become increasingly common, and without proper verification, buyers risk losing their hard-earned money. This article outlines key steps to verify property documents and protect yourself from fraudulent transactions, whether you are investing in residential or commercial properties in Nigeria, particularly in Port Harcourt.
Verify the Seller’s Identity
Ensure that the seller has the legal right to transfer the property. Ask for valid identification documents, such as a government-issued ID, and compare them with the name on the title deed. If the seller is representing someone else (such as an heir or a company investing in real estate), verify the legal authorization, such as a Power of Attorney or company resolution.
Confirm Ownership with Title Deed Verification
The title deed is one of the most critical documents to verify before purchasing a property. It confirms ownership and legal rights over the land or building. To verify its authenticity:
Request the original title deed from the seller.
Conduct a title search at the relevant land registry office.
Check for encumbrances such as mortgages or legal disputes that could affect your ROI.
Validate Land Use and Zoning Approvals
Each land or building has specific zoning and land-use regulations. Check with the local planning authority to confirm:
The approved purpose of the land (residential, commercial, agricultural, etc.).
That the property complies with zoning laws and building regulations.
That any construction on the land has valid approvals and permits to avoid development issues.
Cross-Check Survey Plans and Measurements
Verify the property’s dimensions by comparing the details in the survey plan with actual on-site measurements. Engage a licensed surveyor to:
Ensure the land measurements match the sale agreement.
Identify any boundary disputes or discrepancies.
Confirm that the land is not part of government-acquired property, which can be a common issue in real estate investment.
Scrutinize the Sale Agreement
Before making any payment, draft and review a sale agreement that includes:
The agreed price, payment structure, and any advance payments.
Details of both parties, including witnesses.
A clause ensuring the seller provides clear and marketable title.
A timeline for document handover and property transfer to protect your company’s investment.
Seek Legal Assistance
To avoid falling victim to fraud, consult a real estate lawyer who can:
Verify all property documents.
Conduct due diligence at relevant government offices.
Ensure the sale agreement protects your interests, whether for residential or commercial real estate development.
Register the Property in Your Name
Once the purchase is complete, ensure the property is legally transferred by:
Registering the sale deed at the local land registry.
Paying the necessary stamp duty and registration fees.
Updating municipal records to reflect new ownership and maximize your ROI.
How do you Avoid this costly Mistakes?
Real estate is one of the most rewarding investment opportunities, but success requires thorough research, patience, and the right guidance. Nigeria’s real estate market, especially in Port Harcourt, is filled with potential, but without proper due diligence, costly mistakes can arise.
If you’re looking for verified and secure property deals, it’s crucial to work with trusted experts who understand the market. Whether you’re a first-time buyer, an investor, or a real estate agent, taking the right steps ensures a profitable and stress-free investment experience.
Ready to secure a high-ROI property? Take the first step today and make informed real estate investment decisions!
