Due Diligence:Lessons from Mr. Pennywise

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Due Diligence: Lessons from Mr. Pennywise

Good Morning Friends!

Following the volume of questions, we received, from the “The Story of Mr. Pennywise” we have decided to extend the feature by ‘re-emphasizing’ the Lessons/Moral of the Story. Yay! 💃💃

Further be reminded that you may elect to chat with a team member of the Online Law Clinic by simply clicking on the link below or sending a WhatsApp message to 08150949947

👉https://bit.ly/2Rn5Ygw

Due Diligence simply means investigation and it includes but not limited to the process of:

a. confirmation of the Title Documents,
b. the coordinates on the Survey Plan are examined,
c. ascertaining whether the land falls within Government Acquisition,
d. the extent of it’s Set back is not left out,
e. interview of the potential Seller(s)
f. physical inspection of the Property etc.,

👉When it comes to investing in Real Estate, there is no such thing as trust.

👉There is equally no such thing as “it’s only half plot of land in the outskirt of town” so, I don’t think I need to carry out Due Diligence, all I need is for a Lawyer to prepare an Agreement.


👉Once negotiation starts, get a lawyer involved, a lawyer has the requisite training to carry out Due Diligence.

👉Where the land is Family Property, there is need to confirm the particulars of the beneficiaries of the Estate, ascertain that the consent of all relevant parties have been obtained.

👉Where the land is owned by an Individual or Corporation, there are equally legal hurdles to cross.


👉Other legal issues are whether there is a pending litigation, confirmation of the authenticity of Letters of Administration in applicable cases amongst so many other germane questions to be asked by a Legal Practitioner.

Would you like to conduct Due Diligence on a Property you’re about to buy? Then reach out to our team of lawyers on WhatsApp: 08150949947.

Thank You!

Oluwatosin Ajose Popoola Esq.,
For: The Online Law Clinic

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