Expert Warns Real Estate Investors Against Purchasing Property Without Due Diligence

By Olisemeka Obeche

The Managing Director of Ultima Real Estate Investment Ltd. Engr. Emerie Eze has advised real estate investors and realtors against purchasing land without proper due dilligence.

Engr. Emerie gave the timely advice on Friday, February 14, during a weekly training organized for its trainee staff in Awka.
The Nanka-born real estate expert, spoke against the backdrop of rising controversies and disputes over land acquisitions in Anambra State and parts of South East.

He traced the land-tussle crisis, which had in some cases take tragic turns, to lack of adequate knowledge of the legal processes of selling and buying property and sharp practices perpetrated by quacks in the industry.

“There is a lot of perceived and obviously, noticeable lack of professional practitioners in the real estate business. This has given rise to a lot of people buying properties that are under either litigation or other forms of encumbrances.

“Some investors have even paid for lands under government acquisition or already allocated to party (ies).

According to him, if most real estate investors are smart, and Insists on dealing with reputable professionals or follow due process, certain lad tussles would be mitigated.

“Many realtors and investors alike would have done better if they are legally smart and industry trained.

“The need and the necessity to do proper Due Diligence is always on the mind of a realtor and investor should also demand for such before committing their hard earned money on property.

He stressed that the weekly training programme was initiated to help bridge the knowledge gap in the industry.

“Ultima Real estate investment limited decided to groom legally smart and knowledgeable realtors through a weekly training in it’s head office free of charge.”

“Some of the training topics are highly paid and sought after skills in real estate but Ultima offers them completely free of charge”, he adds.