First-Time Buyer Guide Nigeria: How to Buy Your First Property

Buying property for the first time in Nigeria is one of the most significant financial decisions you will make — and the process is more complex than most first-timers anticipate. This guide walks you through every stage, explains what each step involves, and highlights the most expensive mistakes to avoid.

Step 0: Establish your total budget before you start

Before viewing a single property, know your complete number. Your budget is not your purchase price — it is your purchase price plus all buying costs.

Typical buying costs in Nigeria (on top of purchase price):

• Solicitor's fees: 1–2% of purchase price
• Stamp duty: 1.5% of purchase price (varies by state)
• Governor's Consent fee: 1.5–3% of property value (Lagos; other states vary)
• Land Registry registration fees: 0.5–1%
• Survey plan (if new): ₦50,000–₦200,000
• Agent commission (if applicable to you as buyer): 2.5–5%
• Estate inspection/valuation: ₦50,000–₦200,000

As a conservative rule: budget 12–15% of your intended purchase price on top of the purchase price itself. On a ₦30m property, that is ₦3.6m–₦4.5m in costs. Many first-time buyers run out of money at completion because they planned only for the property price.

Step 1: Understand title types before you view

The title document on a Nigerian property determines whether you can legally own it, mortgage it, and resell it. Before falling in love with a property, know which of these you are dealing with:

• Certificate of Occupancy (C of O): The gold standard. Issued by the state government. Mortgageable, clear chain. Highest price — worth it.
• Deed of Assignment with Governor's Consent: Valid — a transfer from one C of O holder to another. Confirm the consent is genuine and registered.
• Registered Deed of Assignment (without consent): Weaker — legally incomplete. The seller should obtain consent before you complete.
• Excision / Gazette-backed land: Valid for communal areas that have been formally excised from government land. Requires additional verification.
• Family land / Omo onile allocation: High risk. Not a bankable title. Only proceed with specialist legal advice and at a price that reflects the risk.

See our Land Document Types guide for a full explanation of each title type.

Step 2: Get mortgage pre-approval early (if using a mortgage)

If you are not buying outright with cash, approach your bank or a mortgage institution before you start viewing. Know your pre-approved amount, the required down payment, and the title types the bank will accept (most Nigerian banks require a C of O or Deed with Governor's Consent as collateral — they will not mortgage family land or unregistered land).

Pre-approval positions you as a serious buyer and prevents the common situation of finding a property you love, committing time and emotion, and then discovering your bank will not finance it.

Step 3: Engage a buyer's solicitor before you start viewing

This is the step most first-time buyers skip — and the source of most expensive problems.

Instruct a solicitor before you find a property, not after. Your solicitor's role in the buying process:

• Reviewing title documents on any property you are seriously interested in
• Conducting the Land Registry search before you commit
• Advising you on risks identified in the title
• Preparing or reviewing the Sale Agreement before you sign or pay any deposit
• Preparing or reviewing the Deed of Assignment
• Managing the Governor's Consent and registration process

You should not sign any agreement or pay anything beyond a small refundable Expression of Interest without your solicitor having reviewed the title and the documents.

Step 4: Search and shortlist

• Use property platforms: Search by area, price, and property type. Shortlist 5–10 properties that fit your budget (including buying costs)
• Visit in person: No amount of photography replaces visiting the property and the surrounding area. Visit at different times of day if possible — traffic patterns, noise levels, and security vary
• Check the area, not just the property: Water supply, power infrastructure, road condition, estate security, proximity to essential services
• Ask about title before you invest time: Request the title document early. A property with an unfixable title problem is not a prospect regardless of how much you like it

Step 5: Make an offer and pay Expression of Interest

When you find a property you want to pursue seriously, make a formal offer — agreed price, timeline, and conditions. If your offer is accepted, some sellers ask for an Expression of Interest (EOI) payment — typically ₦100,000–₦500,000 — to reserve the property while due diligence proceeds.

The EOI is not a deposit. It should be refundable if due diligence reveals problems. Get this confirmed in writing. Do not pay an EOI without written confirmation of refundability conditions.

Step 6: Conduct due diligence

Once your offer is accepted, your solicitor conducts formal due diligence:

• Land Registry search to confirm the seller's title and identify any encumbrances, mortgages, or caveats
• Verification of survey plan coordinates against Land Registry records
• Confirming all annual charges (land use charge, ground rent) are paid up to date
• Checking for any pending legal proceedings on the property
• Confirming building plan approval (for built properties)

This process typically takes 2–6 weeks. Do not agree a completion date before this is done.

Step 7: Sign Sale Agreement and pay deposit

Once due diligence is complete and you are satisfied, your solicitor prepares (or reviews the seller's solicitor's) Sale Agreement. This document:

• Records the agreed sale price and completion date
• Sets out conditions (if any)
• Governs what happens if either party defaults

On signing, you pay the deposit — typically 10% of the purchase price. This is binding — you can lose it if you withdraw without a valid legal reason after signing.

Step 8: Balance payment and title transfer

On the agreed completion date:

1. Pay the balance of the purchase price (90%) by traceable bank transfer
2. Receive the executed Deed of Assignment and original title documents upon confirmed payment
3. Your solicitor stamps the Deed (stamp duty) and files for Governor's Consent and Land Registry registration

Registration completes the legal transfer into your name. This process takes weeks to months after completion — the property is de facto yours from the time of payment and Deed execution, but legally registered title takes longer.

Most common first-time buyer mistakes in Nigeria

• No solicitor or too late: Engaging a solicitor after paying a deposit is the most expensive mistake in Nigerian property buying
• Buying before seeing title: Never agree to buy a property without first confirming the title type and asking your solicitor to review the documents
• Not budgeting for buying costs: Planning for the purchase price alone and being underfunded for legal fees, consent fees, and stamp duty at completion
• Trusting verbal promises: Verbal commitments from sellers, agents, or developers are not enforceable — everything must be in writing
• Buying off-plan without proper protection: Off-plan purchases require specific protections in the contract — completion dates, refund provisions, stage payment conditions
• Skipping the physical visit: Property photography in Nigeria routinely flatters properties. Visit every property you are seriously considering

Related guides

Property Due Diligence in Nigeria · Financing Property in Nigeria · Move-In Costs in Nigeria