The True Cost of Buying Property in Nigeria: Fees Beyond the Price

When buyers plan a purchase, they naturally focus on the price of the property. In practice, the price is only the beginning. A number of fees and charges sit on top of it, and knowing them in advance prevents surprises and helps you negotiate from a position of strength.

Agency and professional fees

Agency commission is typically a percentage of the purchase price, often around five percent, and is usually paid by the buyer. A reputable advisor will state this clearly at the outset. You should never be asked for undisclosed or duplicated commissions.

Legal fees

Engaging your own solicitor is money well spent. Legal fees are commonly a percentage of the price and cover title verification, review of the contract of sale, and preparation of the deed of assignment. This is the work that confirms you are buying from the rightful owner.

Survey and documentation

A registered surveyor confirms the boundaries and coordinates of the land and checks it is free of government acquisition or setbacks. Budget for a fresh survey plan and for certified copies of the title documents.

Perfection: consent, stamp duty and registration

Perfecting your title is often the largest hidden cost. It usually includes Governor's Consent, stamp duty and registration fees, and can add a meaningful percentage to the total. Perfection makes your ownership fully recognised by the state, so treat it as essential rather than optional.

Service and development levies

In estates and gated developments, expect a development levy on entry and a recurring service charge thereafter. Ask for both figures in writing before you commit.

Budget with a buffer

As a rule of thumb, set aside an additional ten to fifteen percent of the purchase price for fees and perfection. Building that buffer into your plan keeps the process calm and your finances predictable.

At MiliaRealty we set out every cost in advance, so you always know the full picture before you proceed.