An astute Real Estate practitioner, Dr. Emmanuel Olumide has given guidelines on how to do proper Real Estate documentations to avoid loss and regrets.
Dr. Olumide’s intervention follows as a result of what people suffer daily because of improper documentations. Stories abound of people who lost their life savings, invested in real estate because due diligence was not done. Olumide noted that there are very vital documents and processes required to secure any real estate investment or project.
He said, search and verification of all ownership and claims are extremely vital. “Verify the availability and freedom from any encumbrances like government acquisition, ongoing litigation, family factions and disputes, territorial wars etc.”
He pointed out the need to engage professionals like a lawyer, surveyor and the government office for the levels listed below.
“The perimeter or land survey; the family receipt and duly signed memorandum of understanding/deed; photocopies plus pictorial and video evidence of all payments and vital milestones; estate layout design and approval; certificate of occupancy, deed of assignment/conveyance and registration, governor’s consent etc.”
