Step by step guide on how to conduct due diligence in Nigeria


8/17/20231 min read

Conducting due diligence on a property in Nigeria is essential to ensure a successful real estate transaction. Here are some tips to help you:

1. Title Verification: Verify the property's title through the appropriate government agency. Ensure it is free from encumbrances and disputes.

2. Physical Inspection: Physically inspect the property to assess its condition, including the infrastructure, boundaries, and neighboring properties.

3. Legal Documentation: Review all legal documents, including deeds, surveys, building approvals, and other relevant paperwork.

4. Ownership Confirmation: Verify the seller's identity and ownership rights. Ensure they have the legal authority to sell the property.

5. Land Use Regulations: Check the zoning regulations and land use policies in the area to ensure the property aligns with your intended use.

6. Environmental Clearance: Assess the property for environmental compliance, especially if it's near sensitive areas like water bodies or protected zones.

7. Local Community Check: Understand the local community and any potential issues or conflicts that might affect the property or its value.

8. Utilities and Infrastructure: Confirm the availability and adequacy of utilities like water, electricity, sewage, and road access.

9. Property History: Research the property's history, including any previous sales, development plans, or disputes.

10. Professional Help: Consider hiring a local real estate attorney, surveyor, or property consultant to assist with the due diligence process.

Remember that local regulations and practices can vary, so it is crucial to have a solid understanding of the specific area where the property is located.