Define the purpose of the purchase

Begin by deciding whether the property is for personal occupation, rental income, resale, development or land banking. The objective changes what “good value” means. A homebuyer may prioritise commuting, schools and everyday comfort; an investor may focus on demand, achievable rent, vacancy risk, operating costs and exit options.

Write down the non-negotiables: preferred locations, property type, budget range, required space, infrastructure, security, accessibility and acceptable completion status. This prevents attractive but unsuitable listings from distracting the search.

Understand the full acquisition budget

The advertised price is not always the total cost. Allow for professional advice, searches, surveys, documentation, registration, taxes or statutory charges where applicable, agency fees, financing costs, repairs, furnishing, service charges and moving or holding costs.

Ask for every fee in writing and identify who receives it. Do not transfer money simply because a payment is described as urgent. A legitimate transaction should allow appropriate verification.

Verify the property and the right to sell

Engage a qualified property lawyer and other relevant professionals to investigate the transaction. The exact checks depend on the location, property type and title history, but the process should establish the identity and authority of the seller, the land or unit being sold, the title documents, relevant interests or encumbrances, planning status and any required consents.

Names, survey details, boundaries and property descriptions should be consistent across documents and the physical site. Copies and online images alone are insufficient; verification should use appropriate official channels and professional judgement.

Inspect beyond the finishes

Fresh paint and new fittings can improve presentation but may hide defects. Inspect the roof, walls, floors, windows, doors, plumbing, electrical systems, drainage, water supply, ventilation and external works. Look for dampness, unusual cracking, uneven floors, poor water flow, overloaded wiring, flooding evidence and unfinished common areas.

For an existing building, consider a professional condition survey. For an off-plan purchase, examine the drawings, specifications, approvals, delivery history, contract terms, payment schedule and arrangements for delays or specification changes.

Evaluate the location at different times

Visit during the day, evening and—where safe—after heavy rain. Observe access roads, traffic, drainage, noise, power and water conditions, waste management, security, nearby land uses and ongoing development. Speak with residents or facility managers where appropriate.

For rental property, investigate actual tenant demand rather than relying only on projected rent. Compare similar properties, typical vacancy periods, service charges, maintenance obligations and the quality tenants expect at that price point.

A buyer’s step-by-step checklist

1. Set the brief: Define the purpose, preferred area, budget and required features.
2. Shortlist carefully: Compare like-for-like options using the same criteria.
3. Confirm the parties: Verify the seller, authorised representatives and professional advisers.
4. Conduct legal due diligence: Investigate title, interests, approvals and transaction documents.
5. Inspect and survey: Confirm boundaries and assess the physical asset.
6. Model the full cost: Include acquisition, repair, operating and financing costs.
7. Negotiate written terms: Record price, inclusions, conditions, timeline and payment process.
8. Complete properly: Use traceable payments and complete the required documentation and registration process.
9. Secure the asset: Obtain possession records, keys, inventories, service information and a maintenance plan.

Red flags that deserve a pause

• Pressure to pay before searches or professional review.
• A price that is far below comparable properties without a clear explanation.
• Inconsistent names, plot details, boundaries or document descriptions.
• Refusal to allow an independent inspection or survey.
• Requests to pay into unrelated personal accounts.
• Promises of guaranteed appreciation or rental returns.
• Material changes to the offer that are not reflected in writing.

A red flag is not automatically proof of wrongdoing, but it is a reason to stop, clarify and verify before proceeding.

Frequently asked questions

Can I buy property without visiting Nigeria?

Remote purchases are possible, but they require stronger controls: independent legal advice, verified representatives, professional inspection, live or recorded site evidence and a traceable approval and payment process.

Should I pay a deposit to hold a property?

Do not pay until the recipient, purpose, refund conditions and transaction framework have been reviewed. Obtain professional advice suited to the specific transaction.

Is a newly built property maintenance-free?

No. New buildings still require inspection, defect correction and planned maintenance. Ask what warranties, manuals and post-handover support are provided.