Here is what a realistic budget needs to include:

• • Property purchase price: This is the negotiated price agreed with the seller or developer. It is your starting point, not your total cost.
• • Legal fees: A qualified property solicitor will charge a fee to review title documents, prepare and review contracts, and oversee the transaction. In Nigeria, this typically ranges from 5% to 10% of the property value, depending on complexity.
• • Agency fees: Real estate agents charge a commission, usually between 5% and 10% of the property price, payable upon completion of a transaction. Always clarify this upfront with your agent.
• • Survey costs: A registered surveyor must produce or verify a Survey Plan for the land or property. Survey fees vary depending on location and land size but should always be factored in.
• • Registration costs: Once ownership is transferred, you will need to register your title at the relevant state land registry. Registration fees, stamp duties, and consent fees (including Governor’s Consent) can add a significant sum to your total spend — sometimes 3% to 8% of the property value in some states.

When evaluating any location in Nigeria, consider these factors:

• • Infrastructure: Access to reliable roads, power supply, water, and internet connectivity significantly affects both liveability and property value. Areas with consistent electricity supply or proximity to independent power sources tend to command premium prices for good reason.
• • Security: Understand the security situation in any area you are considering. Speak to residents, check with local estate associations, and assess proximity to police stations or private security networks. A property in an estate with controlled access generally offers more protection and holds value better.
• • Accessibility: How easily can you reach your workplace, children’s schools, hospitals, and commercial centres? Properties on or near major arterial roads tend to be more desirable, though this can also come with noise and congestion trade-offs.
• • Future development potential: Check whether the state or local government has planned road expansions, new estate developments, or infrastructure upgrades nearby. Areas undergoing regeneration — such as Ibeju-Lekki in Lagos or Guzape in Abuja — often offer strong capital growth prospects for buyers who enter early.

There are four key documents to understand and verify:

• • Certificate of Occupancy (C of O): The C of O is the strongest form of land title in Nigeria. Issued by the state government, it grants the holder the right to use and occupy a plot of land for a specified term (usually 99 years). A property with a registered C of O provides the clearest evidence of legal ownership and the highest level of security for a buyer.
• • Deed of Assignment: When a property changes hands, a Deed of Assignment is the legal document that transfers ownership from seller to buyer. It should clearly describe the property, the parties involved, and the terms of the transfer. Always ensure this document is stamped and registered.
• • Governor’s Consent: Under the Land Use Act of 1978, all land in Nigeria is technically vested in the state governor. This means that any transfer of property title requires the formal approval of the governor of the relevant state. Without Governor’s Consent, a transaction is not legally complete, and a buyer’s title remains vulnerable to challenge.
• • Survey Plan: A Survey Plan is a technical document that shows the exact boundaries and dimensions of a piece of land, prepared by a registered surveyor and filed with the Office of the Surveyor General. It confirms the land exists as described, identifies the owner of record, and highlights any government acquisitions or encumbrances on the land.

Effective due diligence in Nigeria involves three components:

• • Land registry checks: Your solicitor should conduct a formal search at the relevant state land registry to confirm the status of the title, identify any existing mortgages or encumbrances, and confirm that the property has not been acquired by government. This step is critical and cannot be skipped.
• • Physical inspection: Visit the property in person. Do not rely solely on photographs or video tours, particularly if you are purchasing from abroad. Inspect the structural condition of any buildings, assess drainage, check the state of shared infrastructure, and verify that boundary markers align with the Survey Plan. Where significant sums are involved, commissioning a professional structural survey is strongly advisable.
• • Community inquiries: Speak to people in the immediate community — neighbours, local community leaders, and market traders nearby. Ask whether there are any disputes over the land, whether the seller is known and trusted, and whether there have been any recent controversies over ownership. Local knowledge can uncover issues that documents alone will not reveal.

When it comes to payment, three principles should guide every transaction:

• • Avoid cash payments: Large cash transactions in real estate are not only unsafe — they are also increasingly scrutinised under Nigeria’s anti-money laundering regulations. Cash payments leave you with little recourse if a deal goes wrong, and they are a hallmark of fraudulent transactions.
• • Use traceable transactions: All payments should be made via bank transfer directly to the seller’s verified account, or through an escrow arrangement where a trusted third party holds funds until all conditions are met. At Namkas Properties, we facilitate secure, documented transactions with full KYC (Know Your Customer) verification of all parties, ensuring every deal is clean, compliant, and legally sound.
• • Obtain receipts and documentation: Every payment, no matter how small, should be accompanied by a written receipt that clearly states the amount paid, what it is for, the date, and the identities of both parties. This documentation will be essential during the legal stage.

Common Mistakes First-Time Buyers Make — and How to Avoid Them

Even well-intentioned buyers make avoidable errors in the Nigerian property market. Being aware of the most common pitfalls can save you from significant financial and legal pain.

• • Buying based on emotion, not evidence: A beautiful property in the wrong location, with unclear title, is still a bad investment. Always allow due diligence to override excitement.
• • Relying on verbal agreements: In Nigeria, verbal commitments made by sellers, agents, or community leaders carry no legal weight. Every agreement must be in writing, signed, and witnessed.
• • Skipping independent legal advice: Relying on a single solicitor shared between buyer and seller creates a conflict of interest. Engage your own lawyer, regardless of the cost.
• • Rushing to pay a deposit without documents: Paying an “expression of interest” or “reservation fee” before reviewing title documents is extremely risky. Legitimate sellers and agents will not pressure you into payment before you have seen the paperwork.
• • Ignoring the registration stage: Many buyers complete a transaction and then delay registration indefinitely. This leaves your title legally incomplete and can create serious complications if you ever want to sell, mortgage, or bequeath the property.
• • Not verifying agent credentials: Anyone can claim to be a real estate agent in Nigeria. Always work with registered members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) or accredited professionals with a verifiable track record.

Ready to Take the Next Step?

At Namkas Properties Limited, we combine deep local knowledge of the Nigerian property market with professional expertise honed across UK and Nigerian real estate. Whether you are a first-time buyer in Nigeria, a professional in the UK looking to invest back home, or simply seeking a clearer picture of your options, we are here to guide you from the first question to the final registration.

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