18/05/2026
In recent times, some investors still fall victim to fake documentation or fraudulent properties. A colleague of mine based in Asaba called me one of those days while I was in camp and narrated an ordeal his client had with a company that seemed credible. The company had a polished office, active social media pages, convincing marketers, and even organized site inspections. Everything looked legitimate on the surface.
The client was interested in acquiring plots for both residential and commercial purposes. The idea was to build residential apartments in one location and secure a commercial property in another area for shops and office spaces. Unfortunately, in a hurry to secure the properties because the offer was tagged as “limited,” he made payment after seeing only photocopies of documents and verbal assurances.
A few months later, the shock came. The residential plots had ownership disputes, while the commercial property was located on land with government restrictions that did not permit the intended development. What looked like a smart investment suddenly became a legal battle and a painful financial lesson.
One major mistake many investors make in real estate is not understanding the difference between residential and commercial properties before investing.
Residential properties are lands or buildings meant strictly for living purposes such as houses, apartments, duplexes, and estates. Commercial properties, on the other hand, are meant for business activities like shops, plazas, office complexes, warehouses, hotels, and malls. The documentation, approval process, location value, and even government regulations for both are often different.
In real estate, never rely solely on appearances or marketing. Verify ownership, confirm title documents, check zoning and land use approvals, inspect the property physically, and involve trusted legal professionals before making payment.
Due diligence may seem stressful at first, but it is far cheaper than recovering from a bad investment.
Whether you’re investing in a residential property for comfortable living or a commercial property for steady business income, one thing remains constant; due dilige
