BUYING LAND IN LAGOS? 7 THINGS YOU MUST CHECK BEFORE MAKING PAYMENT

Buying land is a significant financial decision. Whether you intend to build a home, establish a business or secure a long-term investment, one mistake can cost you more than money.

Before paying for that attractive plot of land, here are seven things you should check.

1. Verify Ownership

Establish who owns the land and whether the seller has the legal authority to transfer ownership. Never rely solely on verbal assurances.

2. Check the Title Documents

Request the relevant property documents, which may include a Certificate of Occupancy, Governor’s Consent, Deed of Assignment or Gazette, depending on the property’s history.

3. Conduct a Land Search

Engage a property lawyer to verify the land’s legal status and check for possible disputes, government acquisition or existing encumbrances.

4. Verify the Survey Plan

A registered surveyor can help confirm the property’s location, boundaries and dimensions.

5. Visit the Property

Do not buy land based on pictures alone. Inspect the location, accessibility, drainage and surrounding developments.

6. Understand All Costs

Ask about documentation fees, survey fees, legal fees, development levies and other applicable charges before making payment.

7. Get Proper Documentation

Ensure every payment is acknowledged and the relevant agreements and transfer documents are properly executed.

Final Thoughts

Buying land should be an exciting investment, not a financial nightmare. Take your time, ask questions and verify everything before committing your money.

Making informed decisions is the foundation of confident property ownership.

Invest wisely. Invest with confidence.