The rise in property demolitions across Lagos is causing a lot of worry for homeowners and potential buyers. As someone deeply involved in real estate, I feel it’s important to share some advice on how to avoid these devastating losses.
In Lagos today, buildings are often demolished because they’re built on drainage systems, canal parts, or areas reserved for road projects. Sometimes, it’s simply because the buildings don’t have the right approvals. This isn’t new—Ikota saw major demolitions in 2019. However, the recent increase in such incidents, often without fair compensation, has left many people worried, homeless and without hope.
The truth is, unless we take proactive measures, the risk of demolition is still high. Here are five crucial steps every prospective buyer in Lagos should follow to protect their investments.
First, thoroughly search for the property you want to buy, using the service of a professional real estate broker, as they will help in providing you with comprehensive and verifiable listings.
Second, hire a specialized real estate lawyer. Not all lawyers are specialized in property law, A specialized property lawyer will help you navigate the complexities of property transactions and ensure all legal procedures are followed correctly. Their expertise is crucial in avoiding pitfalls and making sure all documents are in order.
Third, verify the seller’s and property’s documents. This includes checking the Certificate of Occupancy (C of O), governor’s consent if needed, and survey documents. A specialized lawyer can handle this verification process to ensure the property is legitimate.
Fourth, employ a surveyor to inspect the site and make sure it matches the documents. Knowing the land coordinates is essential, especially in areas like canals and coastal regions where scams are common. This step helps you avoid buying property that might be at risk of demolition.
Lastly, request building approval documents. Lagos State has specific rules for each community, and not following these can lead to demolition. This often-overlooked step ensures that your property isn’t breaking any rules or encroaching on neighboring lands. This last step is also one of the major causes of demolition in Lagos.
Buyers can protect their investments and avoid the financial and emotional pain of demolition with the steps listed above. In my experience, due diligence and awareness are key in the Lagos real estate market. It’s crucial for buyers to take necessary precautions as houses search and demolition grow. Securing your dream home in Lagos requires being proactive and well-informed. You can ensure a safe and secure investment, avoiding the heartache of seeing your property reduced to rubble by simply following these steps.
YouTube link
https://youtu.be/YZWOdFBagM0?si=sQKZ5BXQr2xYsgDy
Victor Jimba is Lead Consultant at Vijad Properties
