Buying property in Nigeria can be a rewarding investment, but it also comes with risks if you’re not properly informed. From unclear land titles to hidden costs and zoning violations, many buyers fall into traps that could have been avoided with the right guidance. Whether you’re a first-time buyer or an experienced investor, following a step-by-step approach can save you money, stress, and legal trouble. This guide outlines six essential tips to help you make confident and informed decisions when purchasing property in Nigeria.
1. Engage Professional Help
Collaborating with experienced professionals, such as BRG Realtors, can make your real estate journey significantly smoother. Their expertise and in-depth knowledge of the local market are invaluable during both the buying and selling processes. Before choosing a brokerage or agent, take time to read online reviews and client testimonials. Reviewing their past transactions and reputation can help ensure they’re the right fit for your needs. The right professional will also help you navigate legal paperwork, avoid scams, and negotiate better deals.
2. Understand the Land Zoning and Usage
With the right professionals guiding you, the next step is ensuring the property aligns with your intended use. Zoning laws play a major role here; some land is designated strictly for residential, commercial, or agricultural purposes. For instance, building a home on farmland or opening a business in a residential zone could lead to serious legal complications or even demolition. Always check with the local urban planning authority to confirm zoning regulations before making any purchase or development commitment.
3. Inspect the Property and Location
Understanding zoning is just one part of the due diligence process. Inspecting the property in person is equally important. Look out for key factors like road access, flood risk, electricity, security, and proximity to essential services like schools and markets. If you’re unable to
visit yourself, ask a trusted friend or family member to check it out on your behalf. Speaking with locals in the area can also provide insights that won’t show up in official documents or listings.
4. Conduct a Thorough Land/Property Title Search
After confirming zoning and inspecting the property, the next vital step is verifying the legal ownership. This involves conducting a title search at the State Land Registry, such as Alausa in Lagos. Check that all key documents, like the Certificate of Occupancy (C of O) and Deed of Assignment, are authentic and properly registered. It’s also important to confirm that the seller has the legal authority to sell the property. This step protects you from fraud, land disputes, or unknowingly buying government-acquired land.
5. Budget for All Associated Costs
Verifying ownership is essential, but it’s just one part of the financial picture. Beyond the actual purchase price, there are several additional costs buyers often overlook. These may include legal fees, agent commissions, survey and title registration costs, and development levies, especially for land within private estates. Failing to budget for these expenses can delay your transaction or leave you financially strained. Plan for them early so you can complete the process smoothly without financial surprises.
6. Secure All Agreements in Writing
Once all checks are done and costs are accounted for, it’s crucial to formalize the transaction with proper documentation. This includes drafting a Sale or Purchase Agreement, a valid Deed of Assignment, and collecting receipts for all payments made. You should also agree on a clear timeline for property handover and document processing. Proper paperwork protects your investment and provides legal proof in case of any future disputes. Never rely on verbal agreements; get everything documented and signed.
Conclusion
Buying property in Nigeria doesn’t have to be overwhelming if you approach it with caution and the right guidance. From engaging professionals to verifying documents and planning for extra costs, each step plays a critical role in protecting your investment. These six tips are designed to help you avoid common pitfalls and make smarter, safer decisions. Take your time, do your research, and never rush into a deal without completing due diligence. A well-informed buyer is a well-protected buyer.