REALWorld Law

Sale and purchase

Due diligence

Do buyers usually carry out due diligence?

Nigeria

Nigeria

Conducting due diligence on title to the property and the capacity of the seller to alienate the interests is the discretion of the buyer. It is a necessary process to be carried out for the buyer’s protection and it is usual in the transfer of title process for the buyer to instruct a solicitor to conduct due diligence to ascertain the title and interests in the real property, the land use and zoning purpose, existence of external or third-party interests, the residue or the term of years under the title, compliance with physical planning, fire safety and environmental regulations as applicable, the payment status of applicable charges and levies and the status and capacity of the seller.