Business

Why Is Due Diligence Important in Real Estate?

It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.

Published

1 year ago

January 13, 2025

OCHEFA

881 Views

By Dennis Isong

In September 2023, I received a call from Tunde, one of my YouTube subscribers.

He said, “Dennis, I’ve been following your videos for nine months. I wish I had called you earlier.

His voice sounded heavy, and I could tell something was wrong.

Tunde shared his story. A few months earlier, he had found a piece of land in Sangotedo.

It was near a proposed shopping mall, and the seller promised him the price would double in a few years.

Excited by the opportunity, Tunde quickly paid a deposit and began making big plans for the land. But his excitement didn’t last long.

Two months after making the payment, Tunde discovered that the land was under government acquisition. It couldn’t be sold or developed legally.

The seller, who had been so convincing, had disappeared. Tunde lost his money and his dream.

He called me to share his heartbreak and said, “Dennis, if only I had known. Is there anything I could have done to avoid this?”

Tunde’s story is a painful reminder of the dangers of skipping due diligence.

It’s not enough to trust a seller or rely on promises. You have to investigate every detail before committing to a property.

What is Due Diligence?

Due diligence is the process of carefully checking a property before you buy it. It’s like a safety net that protects your money and your dreams. When you do due diligence, you:

● Confirm the seller owns the property.

● Check if the land is free from government acquisition or disputes.

● Verify that the property meets all legal requirements. Tunde skipped this step, and it cost him everything.

Why Due Diligence Matters

1. To Avoid Legal Problems

Imagine buying land, only to find out it belongs to the government or someone else. You could lose your money and face years of legal battles. Due diligence helps you: – Confirm ownership. – Avoid family or land disputes. – Ensure the land is safe to buy.

2. To Protect Your Money

Real estate is expensive, and losing your investment can be devastating. Without due diligence, you could: – Buy land already sold to others. – Purchase property with hidden issues like unpaid taxes. – Overpay for land that’s not worth the price.

3. To Avoid Regret

Tunde now regrets rushing into his purchase without asking the right questions or verifying the seller’s claims. His story shows how skipping due diligence can lead to heartbreak.

Learn From Tunde’s Experience

Tunde’s mistake isn’t uncommon. Many people rush into buying land without checking the details.

But real estate is a serious investment, and taking shortcuts can lead to financial and emotional pain. What Can You Do to Protect Yourself? Before buying land, always:

1. Verify ownership: Check the property’s title and ownership.

2. Investigate the land’s status: Ensure it’s not under government acquisition or involved in disputes.

3. Work with professionals: Hire a lawyer or real estate expert to guide you.

Your Investment Deserves Protection

Tunde’s story is a hard lesson, but it’s one we can all learn from. Don’t let excitement or urgency make you skip due diligence.

Take your time, do the research, and ask for help. In real estate, it’s better to be safe than sorry.

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Let’s make your next investment a safe and successful one!

Related Topics:Featured Property investment Real Estate

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Naira Exchange Rates Friday, 3 July 2026

Published

20 hours ago

July 3, 2026

OCHEFA

24 Views

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US DOLLAR (USD) Buy ₦1, 397 Sell ₦1,405

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

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US DOLLAR (USD) ₦1,370.15

GREAT BRITISH POUND (GBP) ₦1,832.17

EURO (EUR) ₦1,568.28

SWISS FRANC (CHF) ₦1,1705.44

JAPANESE YEN (JPN) ₦8. 51

CHINESE YUAN (CNY) ₦201. 80

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Business

Issue: Cloning Nigerian Investment Promotion Commission (NIPC)

Published

2 days ago

July 2, 2026

OCHEFA

47 Views

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.

The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.

The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.

Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.

The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.

The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.

The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.

Current status

The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.

As the case is pending before the court, the allegations remain subject to judicial determination.