Conduct Due Diligence Before Buying Land–Experts

Experts in land administration, real estate and agribusiness have urged Nigerians to conduct thorough due diligence before purchasing land to avoid falling victim to fraudsters and land grabbers.

They gave the advice at the maiden edition of the Land Bankers Summit organised by ISUAN Agro-Estate in Abuja yesterday.

The News Agency of Nigeria (NAN) reports that the summit brought together professionals, investors, policymakers, surveyors, lawyers, architects and other stakeholders in the real estate sector.

Speaking at the event, Mr Ohimai Abraham, chief executive officer, ISUAN Agro-Estate, said the summit was organised to bridge the knowledge gap among Nigerians on land acquisition and investment.
Abraham said the major challenge confronting prospective property investors was not lack of funds but misinformation, misdirection and inadequate knowledge about land and real estate investment.

According to him, the summit is designed to provide knowledge on identifying genuine land, assessing risks, conducting due diligence and understanding the factors that determine the value of land in different locations.

He said land should not be viewed merely as a commodity to be bought and sold but as an asset capable of creating wealth and building generational legacies.

“When land is acquired wisely, properly documented, strategically located and patiently held, it can become a powerful foundation for wealth, investment, development and legacy,” he said. (NAN)