5 Red Flags to Watch for When Buying Property in Nigeria

Real estate fraud and failed developments aren't rare enough to ignore, and most of them share the same early warning signs. None of these five things automatically mean fraud — but any one of them is a reason to slow down and ask harder questions.

1. Pressure to pay before you've seen documentation

A legitimate seller can produce title documents on request. If you're being pushed to pay a deposit "to hold the unit" before you've seen the Certificate of Occupancy, Deed of Assignment, or survey plan, that urgency is doing work the paperwork can't.

2. A price that's meaningfully below the surrounding market

Off-plan pricing is supposed to be below completed-unit value — that's the whole appeal. But there's a difference between a reasonable early-bird discount and a price so far under the neighborhood average that it doesn't make financial sense for the seller. If you can't explain why it's cheap, that's worth resolving before you can explain why it's a good deal.

3. No physical site to visit

You should always be able to visit the actual plot of land, not just an office with renders on the wall. If a "site visit" turns out to be optional, delayed, or discouraged, that tells you something about what's actually there.

4. Vague or shifting payment structures

Watch for:

• Payment schedules that aren't tied to construction milestones
• Requests to pay into a personal account rather than a corporate one
• Reluctance to put the payment plan in writing before you commit

A clear, written, milestone-linked payment plan protects both sides. The absence of one usually only protects one side.

5. No verifiable track record

Ask directly: what have you built before, and can I see it? A developer with prior deliveries can point you to a real address with real occupants. A developer who can only point to renders and testimonials worth checking is worth checking more carefully.

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None of this is about assuming bad faith everywhere — most transactions in Lagos real estate are completely legitimate. It's about knowing which questions separate a legitimate developer from a costly one, and asking them before the money moves rather than after.

If you'd like to see how we handle each of these points at David's Residence — title, site access, payment structure, and track record — our FAQ covers the specifics, or you're welcome to book an inspection and ask us directly.