Question: What preemptive steps shall be taken by the buyers and seller of a property?
Due diligence is extremely important for each transaction therefore;
a) Hire a lawyer for the purposes of due diligence that is to verify title documents and ascertainment of property and to draft and vet sale agreement;
b) To background check on parties to the transaction;
c) To consider tax implications;
d) To evaluate the market price of the property; and
e) To execute the sale agreement in presence of witnesses.