Experts urge Nigerians to conduct due diligence before buying land
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Experts in land administration and real estate have urged Nigerians to carry out thorough due diligence before purchasing land, speaking at the maiden Land Bankers Summit in Abuja.
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.
The experts gave the advice at the maiden edition of the Land Bankers Summit, organised by ISUAN Agro-Estate in Abuja under the theme "Land Banking: The Smart and Sustainable Path to Generational Wealth."
The summit brought together professionals, investors, policymakers, surveyors, lawyers, architects and other stakeholders in the real estate sector.
Ohimai Abraham, chief executive officer of ISUAN Agro-Estate, 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.
Abraham said the summit was 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 ISUAN, popularly known as ARAHA, had served more than 400 clients within one year.
He said land should not be viewed merely as a commodity to be bought and sold but as an asset capable of creating wealth, adding that the company organised the summit as part of activities marking its first anniversary and to help restore confidence in the real estate sector.