STEP-BY-STEP PROCESS OF BUYING PROPERTY IN NIGERIA.

STEP-BY-STEP PROCESS OF BUYING PROPERTY IN NIGERIA

1. Identify Your Property and Budget

• Decide on the type of property (land, house, apartment, commercial building).
• Set a budget, including extra costs such as legal fees, agency commission (usually 5–10%), and registration fees.
• Use trusted platforms or agents — e.g. Nigeria Property Centre, Jiji, Private Realtors, or Developers with proven records.

2. Conduct Preliminary Investigation (Due Diligence)

Before paying anything, verify:

• Ownership – confirm the seller truly owns the property.
• Title Documents – ask for copies of the following (as applicable):
  • Certificate of Occupancy (C of O)
  • Governor’s Consent
  • Deed of Assignment / Deed of Conveyance
  • Survey Plan (confirm it’s not under government acquisition using the Surveyor-General’s office)
  • Excision / Gazette (if applicable)
• Land status – check if it’s free from government acquisition, litigation, or multiple ownership claims.
  • You can verify at the Land Registry of the relevant state (e.g., Alausa in Lagos).

Tip: Hire a property lawyer or a registered surveyor to carry out this verification officially.

3. Property Inspection

• Visit the property physically to confirm location, boundaries, neighborhood, and accessibility.
• Compare the survey plan with the actual site (to avoid land scams).
• Confirm the infrastructure (road access, electricity, drainage, etc.) and surrounding developments.

4. Negotiate and Agree on Price

• Negotiate the final price directly or through your agent.
• Agree on the payment terms – full payment or installments.
• Ensure all negotiations are documented (email, WhatsApp, or written form).

5. Legal Documentation

After verification and price agreement:

• Your lawyer drafts or reviews the Deed of Assignment / Sales Agreement.
• Both parties (buyer and seller) sign before witnesses.
• Payment is made according to agreed terms (preferably via bank transfer, not cash).
• Seller issues Receipt of Payment and Acknowledgment Letter.

6. Transfer of Ownership

• The Deed of Assignment must be registered at the State Land Registry.
• Buyer’s lawyer submits the necessary documents:
  • Deed of Assignment (in triplicate)
  • Seller’s C of O (or other title)
  • Survey Plan
  • Tax Clearance Certificates
  • Payment of Stamp Duties & Registration Fees
• After review and approval, you receive the registered copy confirming ownership.

7. Obtain Governor’s Consent (if applicable)

Under the Land Use Act (1978), all land in each state is vested in the Governor.

• Any transfer of land with an existing title (like a C of O) requires Governor’s Consent to make your ownership legally valid.
• Your lawyer processes this at the Lands Bureau.
• Once granted, you receive an endorsed Governor’s Consent Certificate attached to your deed.

8. Perfecting Your Title

To fully secure your ownership:

1. Stamping – pay stamp duties at the Federal Inland Revenue Service (FIRS).
2. Registration – register at the state’s land registry.
3. Consent – obtain Governor’s Consent as above.
   This process is called “Perfection of Title.”

9. Take Possession

• Take physical possession immediately after documentation.
• Fence the property and post “This Land Belongs to [Your Name]” signboards to deter encroachment.

10. Keep Records Safely

• Keep copies of all documents:
  • Deed of Assignment
  • Payment Receipts
  • Survey Plan
  • Governor’s Consent / C of O
  • Tax Clearance & Utility Bills (for evidence of possession)

Key Professionals to Involve

Common Mistakes to Avoid

• Paying before title verification.
• Not using a lawyer.
• Relying only on family or community “Omo-Onile” receipts without legal documents.
• Ignoring encroachment signs or “government acquisition” markings.
• Buying property “in dispute” or “under litigation.”

Summary

To safely buy property in Nigeria:

Verify – Inspect – Document – Register – Perfect.

Following these steps ensures you get clear title ownership and avoid scams or land disputes. See you in other articles.