6 Key Steps to Take Before Buying a House or Land Property in Nigeria

There are a great number of things to look out for and keep in mind when buying a new home or land property especially in a place like Lagos Nigeria. The following 6 steps are crucial and will serve as guideline while you make that investment property in Nigeria.

1. Understand the Nature of the Property
Investors want to get the best value for their money. And this often translates to the best return on their investment. With this in mind, you want to evaluate the potential growth in investment in a particular area before you throw your hard earned money at it. Growth range is between 5%-30%. Why get less when you can get more? Choose your investment location wisely.

2. Research Who is Selling
Always keep the following questions in mind: "Who is the owner of the property?" "Who is selling the property? Is it the owner, the owner's wife, son, daughter, or someone else?" "Whose name appears in the documents? Is it the current owner or the previous owner?" "What liabilities currently exist on the property?"
*and if it’s Real Estate Company you want to patronise, feel free to ask: ‘’ when where they incorporated? What achievement/s have they made since inception? Is there any visible and successful project I can reference? Do they have strong legal backings?

3. Verify the True Owner
Before you buy a plot of land or a completed building, be sure to conduct what is called a "search" on the property. You can do it yourself or contract a registered realtor to do the search. This is the process of verifying from the state government if the property in question is within government acquired properties or not and whether there are any pending litigation or other issues on the property. The bureau of lands of Lagos state is responsible for all land related matters in Lagos state. It also has office in Government secretariat Alausa Ikeja Lagos Nigeria.

4. Make Payment and Collate the Right Documentation
Pay the property amount to the property owner, then collect the
(a) purchase receipt
(b) the contract of sales
(c) the building plan
(d) originals of other relevant documents in possession of the previous owner

5. File the Documentation for Your New Purchase with the State Government
It's important to do this step because it legally makes you the new owner in the eyes of the law. If the property already has a C of O (certificate of Occupancy), you’ve got Governor's consent for it which is great. If it does not, then you start processing your C of O as soon as possible.

6. Appoint an Estate Consultant/Realtor to Help Manage  Property
You safeguard your investment when you do this especially if you live outside Lagos Nigeria or overseas. Folks who have invested big time in Lagos Nigeria real estate have found that it has been one of the wisest decisions they made in their lifetime.

*Do you have a question? Feel free to ask here…
Contact: Tony Obijeih
Call/WhatsApp me: +234 (0) 802 222 8610,
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