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Making an offer on a property is a major financial decision, and in Nigeria’s real estate market, being informed is essential. While online property platforms make it easier to find and compare listings, buyers must still carry out proper checks before committing. Understanding the process and risks involved can help you avoid costly mistakes and protect your investment.
Confirm Ownership and Property Documents
Before making an offer, ensure the seller has legal ownership of the property. Key documents to request include a Certificate of Occupancy (C of O), Governor’s Consent, Deed of Assignment, and a registered survey plan. These documents should be verified by a qualified property lawyer to confirm authenticity and ensure the property is free from disputes or government acquisition.
Inspect the Property Thoroughly
Never rely solely on online photos or descriptions. A physical inspection helps you assess the actual condition of the building, access roads, neighbourhood environment, drainage, and general infrastructure. For buyers abroad, trusted representatives or professional inspectors should conduct inspections on your behalf.
Research the Location and Market Value
Location plays a significant role in property value. Research recent sales in the area, future development plans, security, flood history, and access to amenities such as schools, hospitals, and transport links. This helps you determine whether the asking price is fair and whether the property suits your long-term goals.
Understand All Associated Costs
The purchase price is only part of the total expense. Buyers should factor in legal fees, agency fees, survey and valuation costs, stamp duties, and land registration fees. Knowing the full financial commitment before making an offer prevents delays and unexpected costs later in the process.
Work with Verified Agents and Agencies
Dealing with registered and reputable agents significantly reduces risk. Verified agents provide accurate information, guide negotiations professionally, and help ensure the transaction follows proper procedures. Using trusted multi-agency platforms like BidIBid gives buyers access to multiple listings while maintaining accountability.
Be Financially Prepared
Making an offer indicates serious intent. Ensure your finances are in order and that funds are readily available once terms are agreed. Sellers are more likely to proceed with buyers who can demonstrate readiness and reliability.
Engage a Property Lawyer Early
A property lawyer should be involved from the early stages, not just at closing. Legal professionals help verify documents, conduct due diligence, and draft agreements that protect your interests throughout the transaction.
Avoid Pressure and Rushed Decisions
Property decisions should never be rushed. Take time to review documents, ask questions, and seek professional advice. If something feels unclear or too good to be true, pause and investigate further.
Final Thoughts
Making an offer on property in Nigeria can be a smooth and rewarding experience when done correctly. With proper research, verified professionals, and the right legal support, buyers can move forward confidently. Platforms like BidIBid simplify the search process while giving buyers access to trusted agents and quality listings across Nigeria.
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