Purchasing land in Nigeria can be a promising investment, but it comes with its own set of challenges and risks. From understanding local laws and regulations to navigating the complexities of land ownership, potential buyers need to be well informed to ensure a secure and legitimate transaction.
There are many opportunities to buy land in Nigeria, even affordable land for sale in Epe and Ibejulekki areas. Our property listing platform helps you see these opportunities to buy real estate easily.
In this blog post, we will explore the key considerations and steps to take when buying land in Nigeria. Whether you are a first-time buyer or an experienced investor, this guide aims to provide valuable insights to help you make an informed decision and safeguard your investment
Is it Safe to Buy Land in Nigeria?
Buying land in Nigeria can be a lucrative investment, but it comes with its own set of risks and challenges. Understanding the complexities of land ownership and ensuring all legal precautions are taken is crucial for a safe and secure transaction. Below, we will give you the key factors to consider before buying land in Nigeria.
What to know before buying a Land in Nigeria
Before we proceed, you must understand land sizes and what they will contain for you; our previous post addressed that.
1. Due Diligence and Investigation
Engaging a legal professional is paramount when purchasing land in Nigeria. They will conduct thorough investigations at the land registry and the surveyor-general’s office to ensure the coordinates haven’t been falsified—this common scam involves altering survey plans to show land as unencumbered when it’s actually government-committed. If buying from local sellers, known as Omoniles, ensure you are dealing with the principal or accredited family members. Comprehensive property investigations are essential to confirm the land is free from litigation, liens, mortgages, or any other encumbrances.
2. Proper Documentation
Proper documentation is critical in land transactions. Ensure the deal is formalized through a deed of assignment, grant, or contract of sale. Avoid leaving documents for later pickup, especially when dealing with natives, as they might not be properly signed or executed by accredited family members. A registered surveyor should perform a survey on the property and submit a record copy to the surveyor-general’s office.
3. Title Perfection
Securing your property requires perfecting the transaction, which involves applying for the governor’s consent or a Certificate of Occupancy from the relevant authority. Once obtained, it’s advisable to register your title documents at the lands registry. This ensures that in the case of adverse claims, the “first in time” rule applies, favoring the first registered claim. Unregistered documents might also be inadmissible in court as evidence of ownership.
4. Take Possession
Taking possession of your property is crucial. In law, possession is nine-tenths of ownership. Demonstrate ownership by physically occupying the land—cultivating, building, and fencing are good practices. If full development isn’t feasible, consider constructing a small structure and renting it out to assert ownership. Especially in Lagps, If you are dealing with Omoniles and you fail to take physical possession, you risk being relocated or reassigned to a less desirable plot.
Buying land in Nigeria presents both opportunities and challenges. By conducting thorough due diligence, ensuring proper documentation, perfecting your title, and taking possession of the land, you can significantly mitigate risks and secure your investment. Engaging the services of legal professionals and registered surveyors is crucial to navigating the complexities and avoiding potential pitfalls. With the right approach and careful planning, purchasing land in Nigeria can be a rewarding and fruitful endeavor. Always remember, a well-informed buyer is a protected buyer.
