Let me tell you a short story…
Mr. Sabinus began our meeting with a sobering revelation: he had just been discharged from the hospital on Monday.
He had invested in 8 acres (48 plots) of land in Ibeju-Lekki, purchasing the property through a friend’s agent who connected him with an Omonile.
He paid ₦13.7 million per plot, bringing the total to 657.6 million naira.
As he began the process of perfecting his documents, he made a devastating discovery: 34 of the 48 plots he bought, fell under Government acquisition for the purpose of the ongoing Lagos to Calabar Coastal Road Construction.
To make matters worse, the remaining 14 plots, which seemed safe, had already been sold to two different people and “He Sabinus”, was the 3rd buyer.
The stress and shock from these revelations were so overwhelming that they landed him in the hospital, where he spent several days recovering.
If you do not want to be like Mr. Sabinus, here are 7 Common Mistakes To Avoid While Investing In Real Estate here in Nigeria:
Mistake number 1: Failing to Verify Ownership
I made a video on the essential land titles and documents you need to protect your property investment, and you can find that video right here
Mistake number 2: Ignoring Land Use and Zoning Regulations
Before you purchase a piece of property, it’s important you make sure the land is zoned for the purpose you intend to use it for. Imagine buying a plot for commercial or residential purposes only to find out it’s zoned for agricultural use. This is rampant in Epe, Lagos State Nigeria.
Buying lands that fell into Land Use and zoning regulations does not necessarily mean that you will lose the land. Just know the process of ratification is very expensive and you might still spend all that money for ratification and still lose the land. The video below provides insight on Land Classification and the Land Use act of 1978.
Land Classification and Land Use Act Of 1978
Mistake number 3: Not Registering Survey Plan.
This is the silent killer of many land deals.
A survey plan isn’t just a document, it’s your map to the truth. It defines the exact boundaries of the land you’re buying and protects you from overlapping claims, land theft, and future court battles. Yet, many investors skip this step or accept a fake, outdated, or unregistered survey from the seller. That’s how people end up buying land that belongs to someone else, or worse, discover that the land sits on government-acquired or committed territory.
Before you put money down, make sure the survey plan is registered with the Surveyor General’s office in the state where the land is located. That’s a basic way to confirm the land’s true status and legal safety. Don’t just take the seller’s word for it, chart it, verify it, and be sure.
To learn how to verify the survey document, see my video where I break it down step-by-step, because in Real Estate, what you don’t verify can wipe out everything you’ve worked for.
How Yo Verify The Authenticity Of Survey Documents
Mistake number 4: Not Verifying Titles
To verify land titles, start by collecting all original documents like the Certificate of Occupancy, Governor’s Consent, Deed of Assignment, and a valid survey plan. Then, conduct a title search at the state land registry to confirm true ownership and check for any legal issues or encumbrances. Verify the survey plan at the Surveyor General’s office to ensure the land isn’t under government acquisition or in a restricted zone. Visit the site to inspect boundaries and confirm there are no occupants or disputes, and speak with locals or community leaders for extra background. Always cross-check the seller’s identity with valid ID and ensure all levies or taxes have been paid. Most importantly, engage a trusted real estate lawyer or consultant to conduct thorough due diligence before making any payment or signing documents, because in real estate, regret is far more expensive than verification. See the video below for essential land titles that protect your Real Estate investment in Nigeria.
Mistake number 5: Not Considering Future Developments
This is very important when buying land in Nigeria. I remember in 2022, I pitched a location to a lady for 5.5 million per plot, the lady said the money would buy acres in her village and immediately began to tell me how she already owns hectares and is still buying more in her village.
Today the location I picked for this lady in 2022 at 5.5 million each has seen significant development and is worth over 30 million naira per plot, meanwhile her village hectares are yet to find real use cases and has very low resale value.
Don’t just focus on the land as it is today. Research future developments like New highways, rail networks, Tech Hubs and Innovation Centers, The creation of industrial parks or free trade zones, Proposed airports, seaports, and multi-million and billion dollar industries like Car Assembly plants, refineries, and manufacturing industries. etc
Property ownership is a title.
Anthony Cee
Profiting from it is a strategy
Property ownership is a title. Profiting from it is a strategy. Your goal isn’t just to be a landlord it’s to master the game of cash flow and capital gains. In my upcoming videos and articles, I’ll break down how smart investors turn property into profit. Subscribe now, so you don’t miss the secrets they don’t teach in school.
Mistake Number 6: Overlooking Environmental and Physical Factors
Investors often neglect to consider the physical characteristics of the land, such as whether it is prone to flooding, erosion, or other environmental issues. This oversight can lead to unexpected challenges and additional costs in the future.
Also, Some investors buy land in areas without considering proximity to essential amenities like roads, schools, hospitals, or commercial centers. Poor location can significantly affect property value: rental value and resale values.
Mistake number 7: Overlooking Professional Guidance
The “I can do it myself mentality” is ravaging the Real Estate industry that people don’t value Real Estate professionals until they lose their hard-earned money and many of them have made this mistake in ways that scared them out of real estate. You know the saying “Once bitten by a snake you are afraid of ropes”?
A Real Estate Professional can help you navigate the complexities of land transactions, ensuring that all documents are in order and that your interests are protected.
So, there you have it 7 common mistakes in land acquisition that could cost you your hard-earned money if not checked.
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