Authored by the expert who managed and guided the team behind the Nigeria Property Pack
Everything you need to know before buying real estate is included in our Nigeria Property Pack
Selling Nigerian property quickly for cash requires proper documentation, regulatory compliance, and strategic pricing to attract buyers in Lagos, Abuja, and other major markets. The Nigerian property market recorded 39% price growth in Lagos during 2024, making it an attractive time to sell, but success depends on having clear title documents and understanding the legal requirements.
If you want to go deeper, you can check our pack of documents related to the real estate market in Nigeria, based on reliable facts and data, not opinions or rumors.
Selling Nigerian property for cash involves verifying title documents like Certificate of Occupancy and Governor's Consent, clearing outstanding land use charges, and pricing competitively based on recent comparable sales.
Most property sales in Lagos and Abuja can close within 30-90 days if documentation is complete, with total transaction costs typically ranging from 5-10% of the property value including legal fees, agency commissions, and government charges.
| Essential Requirements | Typical Timeline | Expected Costs |
|---|---|---|
| Certificate of Occupancy verification | 5-14 days | ₦15,000-₦20,000 |
| Land registry search and ownership verification | 7-10 days | ₦10,000-₦15,000 |
| Clear outstanding land use charges | 2-5 days | 0.3-0.394% of property value annually |
| Market valuation and pricing | 3-7 days | ₦50,000-₦100,000 for professional valuation |
| Estate agent commission (if used) | N/A | 5-10% of sale price |
| Legal and transaction fees | N/A | 5% of sale price |
| Total transaction completion | 30-90 days | 10-20% of sale price (all fees combined) |
Do you have your property's original title documents in order?
Your Certificate of Occupancy (C of O), Governor's Consent, and Deed of Assignment are the three most critical documents for any Nigerian property sale.
The Certificate of Occupancy proves government recognition of your ownership rights and is mandatory for legal property transfer in Nigeria. Governor's Consent is required for any property transaction involving non-indigenes or when the original C of O holder is transferring rights to another party.
You must conduct a formal search at your state's Land Registry to verify these documents are authentic and check for any outstanding issues, liens, or disputes. In Lagos, this verification process typically takes 5-14 days and costs between ₦15,000-₦20,000.
Any discrepancies, missing signatures, or irregularities in your title documents will significantly delay your sale or make it impossible to complete. Engage an independent surveyor and property lawyer to thoroughly examine your documentation before listing the property.
It's something we develop in our Nigeria property pack.
Is your property properly registered with the land registry?
Registration with the relevant state Land Registry is absolutely vital for a valid property sale in Nigeria.
Unregistered properties, even with seemingly legitimate documents, carry significant legal risks and may face ownership contests or invalidation during the sale process. You can quickly verify registration status and check for encumbrances through online portals like Lagos Land Online (LOLA) for Lagos properties.
The verification process involves confirming your property appears in official registry records, checking the survey plan with the Office of the Surveyor-General, and conducting a court search to identify any pending disputes or legal challenges.
For Abuja properties, use the Federal Capital Territory Administration's land portal, while other states have their respective online systems. If your property isn't properly registered, you'll need to complete this process before any serious buyer will proceed, which can add 30-60 days to your timeline.
Are there any unpaid charges that must be cleared?
Outstanding land use charges, property taxes, and service charges create legal encumbrances that prevent property sales in Nigeria.
Lagos property owners face annual Land Use Charges ranging from 0.3% to 0.394% of the property's assessed value, plus potential registration fees, consent fees, and stamp duties. These charges accumulate penalties if unpaid and must be completely cleared before any buyer can legally complete a purchase.
You can check your payment status using state tax portals like LOLA for Lagos properties or similar systems in other states. Unpaid charges not only block the sale but can result in government seizure of the property in extreme cases.
Service charges for properties in estates or developments with shared facilities must also be current, as management companies can place liens on properties with outstanding dues. Budget an additional 2-5 days to clear any outstanding payments once identified.
What is your property's current market value?
As of September 2025, average property prices in Lagos reach ₦45 million for a standard 3-bedroom apartment, while Abuja averages ₦38 million for similar units.
| Location | Property Type | Average Price (₦ Million) |
|---|---|---|
| Lagos (General) | 3-bedroom apartment | 45 |
| Lagos (Ikoyi/VI/Lekki) | 100m² apartment | 100-110 |
| Abuja | 3-bedroom apartment | 38 |
| Lagos (Average all types) | Mixed residential | 200 |
| Port Harcourt | 3-bedroom apartment | 25-30 |
| Kano | 3-bedroom apartment | 15-20 |
| Lagos (Mainland) | 3-bedroom apartment | 25-35 |
Prime neighborhoods in Lagos like Ikoyi, Victoria Island, and Lekki command significant premiums, with luxury apartments reaching ₦100-110 million per 100 square meters. The Nigerian property market experienced 39% price growth in Lagos during 2024, with ongoing appreciation of 5-15% annually in major cities.
Research recent sales of comparable properties in your specific neighborhood within the past six months to establish accurate pricing. Property values can vary dramatically even within the same local government area based on infrastructure, security, and amenities.
Don't lose money on your property in Nigeria
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
Should you use a licensed estate agent?
Licensed estate agents under the Nigerian Institution of Estate Surveyors and Valuers (NIESV) can significantly accelerate your property sale by providing access to qualified buyer networks.
Estate agent commissions in Lagos and Abuja typically range from 5-10% of the property value, but their professional networks and marketing capabilities often justify this cost through faster sales and better prices. Verify any agent's NIESV registration before signing agreements.
Agents handle property marketing, buyer screening, price negotiations, and coordinate with lawyers for transaction completion. They also understand local market conditions and can advise on competitive pricing strategies.
However, you can also sell independently through direct marketing, word-of-mouth, or online platforms if you prefer to save on commission costs. The choice depends on your urgency, market knowledge, and willingness to handle the sales process yourself.
Which online marketplaces should you consider?
Top Nigerian property marketplaces like PropertyPro.ng, PrivateProperty.com.ng, and Jiji.ng provide extensive buyer reach for property sales.
PropertyPro.ng offers professional-grade listings with detailed property information and photos, typically charging ₦5,000-₦20,000 for premium promotional packages. Basic listings may be free but receive less visibility in search results.
PrivateProperty.com.ng focuses on middle to high-end properties and provides verification services for serious buyers. Jiji.ng offers broader market reach including budget-conscious buyers but requires more careful screening of inquiries.
Additional platforms include NigeriaPropertyCentre.com and ToLet.com.ng, each with different fee structures and target demographics. Using multiple platforms simultaneously increases exposure but requires managing multiple inquiry streams.
Quality photos, detailed descriptions, and accurate pricing information are essential for attracting serious buyers on any platform.
How do you safely handle cash buyers?
Cash buyers can close transactions faster than those requiring mortgage financing, but require careful verification to avoid fraud.
Always verify the buyer's identity through valid government-issued ID, confirm their source of funds through bank statements or legitimate business documentation, and insist on bank transfers rather than physical cash for amounts above ₦5 million due to Central Bank of Nigeria (CBN) regulations.
Use a qualified property lawyer and consider escrow services to hold funds until all documentation is complete and title transfer is finalized. Never accept large cash payments directly without proper documentation and legal oversight.
Legitimate cash buyers should readily provide proof of funds and agree to proper legal procedures. Be extremely cautious of buyers pressuring for quick cash transactions without proper documentation or those offering significantly above market value without clear justification.
Document all interactions and maintain records of identity verification, source of funds confirmation, and payment methods for legal protection.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Nigeria versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What if you need to sell below market value?
Selling 10-20% below market value is common for urgent cash needs, but calculate your net proceeds carefully before accepting reduced offers.
Deduct total transaction costs of 5-10% from your sale price, including legal fees (~5%), agency fees (5-10% if used), capital gains tax (10% on profit portion), plus registration and stamp duties (~1-2%). If selling a ₦50 million property at 15% discount, your gross proceeds would be ₦42.5 million, minus ₦4-5 million in fees, leaving net proceeds of ₦37.5-38.5 million.
Consider whether this net amount meets your urgent financial needs before committing to below-market pricing. Sometimes a slightly longer sales timeline can preserve significant value.
Quick sale strategies include staging the property well, offering flexible closing terms, and targeting cash buyers or investors who can move rapidly. Price competitively but not desperately to maintain negotiating position.
Could you use the property as loan collateral instead?
Nigerian banks and microfinance institutions offer short-term loans using registered properties as collateral, which preserves ownership while providing immediate cash access.
These property-backed loans typically carry 18-24% annual interest rates with 6-24 month terms, requiring clear Certificate of Occupancy and Governor's Consent. Loan amounts usually range from 60-80% of the property's assessed value.
Major banks like Access Bank, GTBank, and First Bank offer these facilities, while microfinance institutions may provide faster approval but higher rates. The property must have clear title without existing liens or encumbrances.
This option works well if you need temporary cash flow but expect to repay within the loan term. However, failure to repay results in property forfeiture, so carefully assess your repayment capacity before pursuing this alternative.
It's something we develop in our Nigeria property pack.
What timeline should you expect for property sales?
Most property sales in Lagos and Abuja can close within 30-90 days if all documentation is properly prepared and buyers have readily available funds.
The timeline breaks down as follows: property preparation and documentation verification (7-14 days), marketing and buyer identification (14-30 days), negotiation and agreement (3-7 days), legal documentation and title transfer (14-30 days). Properties with complex title issues, unregistered ownership, or requiring government consents may extend beyond 90 days.
Cash buyers typically close faster than those requiring mortgage approval, which can add 30-60 days for bank processing and property valuation. Luxury properties or unique assets may require longer marketing periods to find qualified buyers.
During peak seasons (December-February and June-August), buyer activity increases but so does competition from other sellers. Plan accordingly based on market conditions and your specific circumstances.
Which professionals should handle your transaction?
Engage both a qualified property lawyer and estate surveyor to ensure comprehensive transaction handling and regulatory compliance.
Property lawyers handle legal documentation, title verification, contract drafting, and regulatory compliance, typically charging around 5% of the property value. Estate surveyors provide property valuation, market analysis, and buyer identification services.
Budget total professional fees at 5-10% of property value, covering legal fees, surveyor costs, government charges, registration fees, and documentation expenses. This investment protects against legal challenges and ensures proper transaction completion.
Choose professionals with proven experience in your property's location and type. Check their professional body registrations (Nigerian Bar Association for lawyers, NIESV for surveyors) and request references from recent transactions.
Clear fee agreements upfront prevent disputes and ensure transparent cost management throughout the sales process.
How should you receive payment securely?
Direct bank transfers to your Nigerian bank account, escrow services, or lawyer's client accounts provide the most secure payment methods for property sales.
Bank transfers create clear audit trails and comply with CBN regulations limiting cash transactions above ₦5 million. Escrow services hold buyer funds until all conditions are met, providing security for both parties.
Lawyer's client accounts offer professional oversight and regulatory protection, with funds released only upon successful title transfer completion. Always document payment arrangements in your sales agreement.
Avoid substantial physical cash transactions which create security risks and regulatory complications. International buyers may use wire transfers or established money transfer services with proper documentation.
Maintain detailed records of all payment transactions for tax compliance and future reference. Verify fund clearance before finalizing title transfers to prevent payment reversals.
It's something we develop in our Nigeria property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Successfully selling Nigerian property for cash requires thorough preparation, proper documentation, and realistic pricing based on current market conditions.
The key to a smooth transaction lies in verifying all title documents, clearing outstanding charges, and working with qualified professionals who understand local regulations and procedures.
Sources
- Trusted Advisors Law - How to Verify Property Titles in Nigeria
- Olamide Oyetayo Legal - How to Check and Verify Property Titles
- Definition Properties - Verify Land Ownership in Nigeria
- Mondaq - How to Perform Legal Search at Nigerian Land Registry
- Hans Offia Law Firm - Property Registration Procedures
- Lands of Nigeria - Remote Property Document Verification
- Mixt Africa - Land Use Charges
- The African Vestor - Lagos Nigeria Property Taxes and Fees