7 Costly Mistakes Buyers Make When Buying Property in Lagos – And How to Avoid Losing Millions

Buying Property in Lagos
1: Paying Before Verifying Ownership

Most people who lose money in Lagos real estate didn’t buy a bad property they paid the wrong person.
Lagos has fake owners, fake families, fake agents, fake lawyers, fake surveyors and they all look convincing.

People assume that because someone:

• Has keys to the house
• Has a family picture holding the land
• Speaks confidently
• Shows a “receipt”
  …they must be the owner.

But ownership is only what the Lagos government records – NOT what a seller claims.

What Proper Ownership Verification Includes (The 3 Golden Checks)

Before you transfer 1 kobo:
– Lagos Land Registry Search – confirms TRUE owner, status, encumbrances & pending disputes
– Physical Confirmation (Meet Neighbours / Local CDA) – are there multiple claims?
– Survey & Coordinates Search – to ensure the land actually exists where seller says it is

99% of victims never do these 3 simple checks.

Who should verify?
Not an agent. Not “my uncle in Alausa.”
Only:
✔ A real estate lawyer with Lagos verification experience
✔ A licensed surveyor doing geo search (NOT just drawing paper)

Why it matters:
Fake owner scams are the #1 reason Lagos buyers lose money — and it never looks like a scam until it’s too late.

2: Buying Property Without Government Backed Title

Many first time home buyers proudly say:

“It has C of O… I saw photocopy.”

Meanwhile:

• Allocation never existed
• Layout was never approved
• Building sits inside a government road expansion zone
• Title was forged 8 years ago using someone’s late father’s name

Owning a “document” ≠ owning a legal property.

The Dangerous Differences People Don’t Understand

Safe Document Combinations You Should Look For

✔ Governor’s Consent in your name
✔ C of O + Deed of Assignment + Registered Survey
✔ Gazette + Registered Survey + Registered Deed

Ignore this and you are buying stress – not property.

3: Ignoring Location Future Value & Government Masterplan
buying property in Lagos

This is the mistake smart investors never make.

Many homes look attractive today – tiles are shining, lights are fine – but in 5 years:

• Government may demolish to build a road
• Flood may rise and destroy foundations
• Area may turn into a slum
• Road may never be completed → zero resale value

The difference between Ajah and Lekki Phase 1 is not beauty – it is planning.

What Buyers Must Check Before Choosing Any Location

Use these tools before falling in love with the house:
– Lagos State GIS Portal – see zoning, road alignment, future government plan
– Flood Risk Map (Satellite 3 Year View) – floods destroy property ROI more than anything
– Corporate vs Residential Density – determines rent & resale demand
– Proximity to Infrastructure – schools, hospitals, expressway, coastline, security roads

Why Government Masterplan Determines Your Wealth

A ₦60M flat in the wrong zone can still be worth ₦60M in 4 years.
A ₦150M flat in the right zone can be ₦350M in 4-6 years.

Example:
Lekki Phase 1 land was ₦8,000 per sqm in the 1990s – today many plots exceed ₦600,000,000.
Not because buildings were nice – but because government masterplan + access road + commercial demand = wealth.

The silent truth:

People don’t regret buying late – they regret buying blind.

4: Buying Emotionally Instead of Using Numbers

Most people buy a house because:

• “It looks beautiful”
• “The kitchen is fine”
• “My spirit likes it”
• “My friend said this area is developing”
• “its close to my work”
• “It has always been my passion to”

But real estate wealth doesn’t come from emotions, it comes from math.

Before paying, ask:

“If I needed to sell this property in 12 months, could I get my full money back?”

The ROI Formula Every Lagos Buyer Should Use

Return on Investment (ROI) =
(Expected Sale Value – Purchase Price) ÷ Purchase Price × 100

Example:
A flat bought at ₦85M in Chevron → resale demand weak → sells at ₦75M
ROI = –11% loss (your money worked backwards)

A similar flat bought at ₦160M on Glover Ikoyi → resale demand strong → sells at ₦220M
ROI = +37% gain

Beauty doesn’t create wealth – resale demand does.

Tip:

Before buying, check:
✔ What were prices 5 years ago?
✔ Who is buying there? (middle class vs corporates vs embassies)
✔ How many vacant properties exist in that zone?

A “cheap” flat that cannot resell is the most expensive mistake you will ever make.

5: Trusting Agents Instead of Trusting Processes
buying property in Lagos

Agents sell – that is their job.
Protecting you is not their job.

The most dangerous sentence in Lagos real estate is:

“Don’t worry – I know the owner.”

90% of failed property stories began with trust…not process.

The 4 Professionals You Need Before Buying

To buy property safely in Lagos, you need:
– A property lawyer – verifies title, disputes, encumbrances
– A licensed surveyor – checks coordinates, masterplan & risks
– A structural engineer – inspects building quality
– A valuation expert – tells you TRUE market worth

Your agent can introduce you – but never let them replace the system.

Questions to Ask Before Trusting Anyone Selling Property

• Has this property been verified by a lawyer?
• Did a surveyor check coordinates at Alausa?
• Can you provide registered documents or just photocopies?
• If this is safe, why is the seller rushing?

Real estate requires checklists, signatures, dates, registrations – not vibes and trust.

6: Not Checking Building Quality Before Paying

Many Lagos homes sink or collapse after 5-10 years – not because of God, but because nobody checked.

Developers cut corners because buyers never ask questions.

If you ever hear:

“Don’t worry, everything is up to standard”
…it is time to start worrying.

 7 Structural Checks Before Buying a Built House

1. Ask a structural engineer to check
2. Foundation depth (how many piles? how many meters?)
3. Concrete strength test
4. Saltwater exposure risks (especially Lekki & coastal zones)
5. Roof truss + water tank support
6. Plumbing pressure test
7. Quality of electrical wiring
8. Dampness or cracks in walls

A Silent Warning:

If walls are already damp during inspection, run.
It will only get worse when you move in.

Buying a house without structural inspection is like marrying someone you only saw in filtered photos.

7: Buying Property With No Exit Strategy

Buying is easy.
Selling is hard if you pick the wrong asset.

Before paying, ask:

• Can corporates rent this?
• Can HNIs (high-net-worth individuals) buy this?
• Is demand increasing or decreasing?
• If recession hits Lagos, who will still buy here?

Some Lagos areas become “regret zones” because buyers only asked:

“Can I afford it?”
instead of asking:
“Who will buy this after me?”

3 Types of Properties That Will Always Sell Fast

✔ Homes near government approved major roads
✔ Homes near elite schools, embassies & corporates
✔ Homes in zones where new infrastructure is coming (bridges, coastal road, airport, deep seaport)

You don’t become wealthy because you bought
you become wealthy because you can sell.

What To Do Instead – The Safe Lagos Buyer Framewor

A 5-Step System to Buy Property Confidently – Without Losing Money

After breaking down the 7 common mistakes, here is the exact methodology smart buyers use to buy safely in Lagos. The same framework used by top executives, expatriates, and high net worth families.

STEP 1 – Verify the Seller (Before Anything Else)

Before asking about price, verify:

• Is the company RC registered?
• Do they have a physical office (not just Instagram)?
• Can you speak directly with a known representative (not street agents)?
• Search the company name on Google –  real firms have a digital footprint.

If the seller cannot be verified online or physically — do not proceed.

STEP 2 – Confirm the Title Physically

Don’t ever rely on verbal claims. Request documents after going for inspection:
✔ C of O / Governor’s Consent
✔ Survey Plan (with red copy number)
✔ Gazette (view actual pages, not screenshots)
✔ Layout Approval

Send it to a property lawyer or Lagos land registry for verification.

STEP 3 – Inspect the Property With Intention

Your inspection should check:

• Flood zones / swamp areas
• Distance to Lekki-Ikoyi bridge, Chevron, VGC or VI (depending on purpose)
• Neighborhood quality – cars parked, security presence, noise levels
• Road network and drainage
• Power supply realities (ask residents or security “How many hours light?”)

Coming for investment? Then check rental data not decorations.

STEP 4 – Protect Yourself With Contracts

Before transferring a kobo:

• Sign an Offer Letter
• Review Contract of Sale
• Agree on payment structure
• Ensure refund clause exists
• Pay only into company owned escrow account

STEP 5 – Track + Secure Allocation

After payment:

• Confirm allocation date in writing
• Collect receipts
• Demand signing of Deed of Assignment & contracts
• Submit for perfection of title immediately – delay is risky in Lagos

 FINAL CHECKLIST – Before You Buy Anything in Lagos

Use this as your 30 second self protection filter:

NEXT – Your PDF Guide & Bonus Resource
buying property in Lagos

Because Lagos can be confusing, I created a FREE 2026 Buyer Report you can download:
“2026 Lagos Luxury Buyer Report: Best Streets to Buy Property in Lagos”
Inside you’ll discover:

• Streets where wealthy families are quietly buying
• Where appreciation is projected to be highest
• Real examples: Banana Island, Ikoyi, Chevron, Glover, Osborne 2, Eko Atlantic
• Insider pricing ranges & risks to avoid

 READY TO BUY SAFELY? (Call To Action)

If you’re planning to buy – especially ₦1B+ properties – you shouldn’t do it blindly.

👉 Book a private consultation or property tour:
Call / WhatsApp: +234 (806-287-6756)
Email: infor@beyourlandlord.ng
Or reply: “Send Me The PDF” to receive your buyer guide instantly.

buying property in Lagos