Lagos is one of the fastest-growing real estate markets in Africa, making it an attractive destination for land investment. However, without proper due diligence, buyers can fall into costly traps. Here are five critical checks every buyer must make before paying for land in Lagos.
1. Verify the Title Document
The most important step is confirming the legitimacy of the title document. Common titles in Lagos include Certificate of Occupancy (C of O), Governor's Consent, Deed of Assignment, and Gazette. Each has different implications for ownership rights.
2. Conduct an Official Search
Visit the Lagos State Land Registry to conduct an official search on the property. This search confirms the true owner, reveals any existing encumbrances or court orders, and validates the document presented.
3. Inspect the Land Physically
Never buy land you haven't physically visited. Check the terrain, access roads, drainage, proximity to amenities, and neighborhood development level.
4. Confirm the Seller's Identity
Ensure the person selling the land is the legitimate owner or has proper power of attorney. Request valid ID and compare it with names on the title documents.
5. Engage a Property Lawyer
Before signing any agreement or making payment, engage an independent property lawyer to review all documents, prepare your Deed of Assignment, and register the transaction.