02/09/2025
*Step-by-Step Guide to Safely Acquiring a Property in Nigeria*
Buying property in Nigeria can feel complex, but by following the right steps, you can avoid costly mistakes and secure your investment. Below is a practical guide with key things to note at each stage.
1. *Define Your Purpose and Budget*
Decide why you are buying (residential, commercial, or investment).
Assess your financial capacity and set a realistic budget.
Donโt forget to factor in extra costs such as legal fees, agency fees, survey, and government charges.
2. *Identify a Suitable Property*
Search through reliable channels: trusted agents, property websites, social media, or direct listings.
Conduct a physical inspection to confirm the propertyโs condition, accessibility, and suitability.
3. *Engage a Professiona* l
Hire a real estate lawyer to review documents and represent your interests.
Use a registered surveyor to confirm land boundaries and ensure no overlaps or disputes.
4. *Conduct a Background Check*
Verify the sellerโs ownership by requesting original title documents.
Check for encumbrances (loans, litigation, or government acquisition) at the land registry.
Confirm zoning and building regulations with the local planning authority.
5. *Negotiate and Agree on Terms*
Discuss the purchase price, payment structure, and transaction timelines.
Put every agreement in writing to avoid future disputes.
6. *Verify and Obtain Legal Documents*
Depending on the property, key documents include:
Survey Plan โ defines boundaries.
Deed of Assignment โ transfers ownership.
Certificate of Occupancy (C of O) โ confirms ownership rights.
Governorโs Consent โ required if the land already has a title.
Approved Building Plan โ if the property has an existing structure.
7. *Make Payment and Collect a Receipt*
Pay directly into the sellerโs account for accountability.
Collect a duly signed purchase receipt as proof of payment.
8. *Sign a Deed of Assignment & Perfect the Title*
Both parties sign the Deed of Assignment with a lawyer present.
Register the property with the land registry to secure your ownership.
9. *Pay Government Fees & Obtain Approvals*
10.
Pay statutory fees (stamp duty, registration, consent fees, survey fees, etc.).
If buying land for development, obtain building approval from the town planning office before construction.
10. *Take Possession & Secure the Property*
Fence the land or place a signpost to assert ownership.
Monitor the property regularly to prevent encroachment.
โ๏ธ Disclaimer: This guide is for general information only and not a substitute for professional legal advice. Always consult a qualified real estate expert before entering into any property transaction.
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๐ฒ Click โhttps://wa.me/p/25884401074509286/2348032251711
to explore our latest property listings on WhatsApp:
๐ E-Property Catalogue
*For inquiries, contact:*
Adedayo Adesunloye
Property Clinic Ltd (Real Estate Expert)
*Contact Adds* Medina Estate, Gbagada, Lagos, Nigeria.
๐ Tel/WhatsApp: +234-803-225-1711
๐ www.propertyclinicltd.com
๐ฒ WhatsApp Catalogue
https://wa.me/p/25884401074509286/2348032251711
FOR SALE IN LEKKI
DISTRESS SALES!!!
5 bedroom fully detached duplex with a bq on a corner piece in one of the safest growing estates with all the necessary estate amenities, tarred roads , security, accessible roads, and many more.
Location: Opposite Lagoon School, Marwa Bus stop LEKKI phase 1
Titel: C of O..
Price: N650m Slightly negotiable..
ยท NGN650,000,000.00