NewStats: 3,263,866 , 8,181,656 topics. Date: Sunday, 08 June 2025 at 11:33 AM 205p3d

Hello Followers, being a long while right ?

Buying property in Nigeria can be a rewarding investment, but it’s also fraught with risks if you don’t do your due diligence. Recently, a Nairalander reached out with a question about a property they were considering buying recently. Their concerns and the advice given highlight key steps every potential buyer should take to avoid costly mistakes. Here’s a summary of the discussion and practical tips for anyone looking to buy property.

The property in question had a small structure on at the back, leaving space in the front for future development. However, there were a few red flags like proximity of ading property, existing Court Judgment in the area (thou said to not affect the property), Governmentt’s future Plans/layout.

Key Due Diligence Steps to always take when buying any property especially when such property is not a vacant/new site land. This does not eliminate the risk from vacant/new site land, it only reduces the number of findings needed to be done.

Here’s a breakdown of the steps recommended to ensure a safe purchase:

1. Find Out Why the Owner is Selling:
- Always ask, but take the answer with a grain of salt. Sellers often hide issues like impending government projects or disputes or the true reason behind the sales eg a poor foundation or structural stability could make an owner sell, but they definitely won't disclose this at the point of sales but asking is important, we would find out why in this thread soon.

2. Government Plans:
- Check if the property falls within areas marked for government projects (e.g. any proposed road development/enlargement, Government acquisition or government (highway or power line) setback Even being a few properties away is risky because government plans can be revised, resulting in a property which was previously free being flagged. You can vvisit the Ministry of Physical Planning or Lands Bureau for confirmation.

3. Request Title Documents:
- Ask for the survey plan or Certificate of Occupancy (C of O) or a government consent etc. If unavailable, get the property’s coordinates or location and hire a land surveyor to the land’s status at the ministry.

4. Investigate the Land:
- Engage a lawyer to investigate the land if there's any sign, markings or court judgment affecting nearby properties. A good example of such markings is ‘this land/house is not for sale’ and ‘procession taken by court order; etc.

5. Talk to Neighbours:
- Speak with locals to gather insights about the area, the property, and any ongoing issues. You'll be surprised by how much information you can gather, then marry this information with the reason the owner claims to be selling and you can easily know if they told you a lie or half truth.

6. Don’t Rush:
- Only proceed with payment after completing all checks. the land’s status with government bodies and professionals and above all, make sure you’re dealing with the right family representatives or individuals.

7. Secondary Concerns:
- Once the land is confirmed safe, you can focus on the building’s condition, fence line should be defined and marked out amongst others.

Final Thoughts:
Buying property is a significant investment, and cutting corners can lead to costly mistakes.

In summary, always to:
- the land’s status with government agencies.
- Engage professionals (lawyers, surveyors, architects).
- Ask valid questions from sellers and neighbours.
- Take your time, don’t rush into a purchase.

By following these steps, you can protect yourself from fraud, disputes, and unexpected government acquisitions. , it’s better to spend time and money on due diligence now than to regret a bad purchase later.

What are your thoughts? Have you faced similar challenges when buying property? Share your experiences and tips in the comments below!

Goodluck.
you can check my other thread to learn more about that your planned construction project.

pics credit: MetaAi

Talk to neighbours is always helpful when renting or buying property, that woman selling akara than the road or the man pumping tyre might have information that will save you from wasting millions of naira.

Teewhy2:
Talk to neighbours is always helpful when renting or buying property, that woman selling akara than the road or the man pumping tyre might have information that will save you from wasting millions of naira.

spot on