Buying land in Lagos? 9 crucial things to check before you pay

Buying land in Lagos can be a profitable investment, but the process carries legal, financial and practical risks. Prospective buyers must carry out proper due diligence before paying for any property.

According to Resolution Law Firm, here are the important things to consider before buying land in Lagos.

Land type, ownership and location

Land in Nigeria can be held under different forms of ownership, including leasehold and customary ownership. Leasehold arrangements give a person the right to use land for a specified period, often 99 years. Customary land is held under traditional or communal systems and can involve several stakeholders, so extra checks are needed.

Do not buy land simply because the price appears attractive. Research the area and find out about existing and planned developments. Check whether the government plans to construct roads, bridges or other infrastructure around the property. Also consider property demand, accessibility and prevailing land prices, as these factors can affect future value.

Verify title, use professionals, and watch costs

One of the most important steps is confirming that the seller has the legal right to sell the land. Relevant documents may include a Certificate of Occupancy, Governor's Consent or Deed of Assignment. Land with an unregistered title can also be purchased, but it requires thorough legal checks before payment. A search at the Lagos State Land Registry can confirm ownership and reveal encumbrances such as mortgages, liens or other claims. All agreements should be properly documented and signed.

Professional help can prevent costly mistakes. A real estate lawyer can conduct legal due diligence, review documents and agreements, and ensure the transaction complies with laws. A qualified surveyor can measure the property, confirm boundaries and prepare or verify the survey plan, helping to prevent disputes over size or location.

The purchase price is not the only expense. Buyers may also have to budget for legal fees, estate agent or agency fees, stamp duty, registration fees, and survey and documentation costs. Agent commissions may vary, with some transactions attracting fees of around 3% to 10% of the purchase price. Confirm all additional charges before committing.

Fraud, payments, development and records

Land fraud remains a major risk. Buyers should independently verify the seller's identity, ownership documents and the property's history. Other problems may include boundary disputes, competing ownership claims and demands from family or communal landowners. Buyers should also establish whether the property is affected by government acquisition or reserved for future public projects.

Some sellers offer instalment payment plans, but buyers should ensure that the terms, deadlines and consequences of default are clearly stated in writing. Those seeking mortgage financing should compare available options, paying attention to interest rates, repayment periods and eligibility requirements.

Before buying, confirm that the land is suitable for your intended purpose. Lagos has planning and zoning regulations that determine whether particular land can be used for residential, commercial or industrial development. Confirm the property's planning status with the relevant authorities before completing the transaction.

Keep copies of all documents connected to the purchase. These should include the purchase agreement, receipts for payments, survey documents, title documents and other paperwork used during registration. Proper record-keeping can be important if ownership is later questioned or the property is sold or transferred.

Buying land in Lagos can provide a valuable investment opportunity, but rushing into a transaction can result in serious financial losses. Thorough due diligence before payment remains one of the most important steps any prospective land buyer can take.