Buying off-plan property in Nigeria: how to protect your deposit
Due diligence on the developer, the land and the approvals — and contract terms that protect your money if the project stalls.
Buying off-plan can offer a good price, but you are paying for something that does not yet exist. The risks are real: delays, changes to the specification, or projects that never complete. Careful checks and a strong contract reduce them.
Check the developer
- Search the company at the Corporate Affairs Commission; confirm directors and status.
- Look at completed projects and speak to previous buyers.
- Be wary of developers who will not share documents.
Check the land and the approvals
- Confirm the developer’s title (or a registered joint-venture agreement with the landowner).
- Ask for the building/planning approval from the state planning authority.
- Chart the survey plan to rule out government acquisition.
Contract terms that protect you
- Payments tied to construction milestones, not just dates.
- A clear completion date, with compensation or a refund right if it is missed.
- A detailed specification, including finishes.
- What happens to your money if the project is abandoned.
- Obligations to deliver title documents and support Governor’s consent.
After completion
Inspect before accepting handover, record defects, and make sure the deed of assignment is executed, stamped and registered.
Every situation is different — for advice on yours, speak with our team in confidence.