Guide Documentation
Key Takeaways
- Budget 10% to 15% above the headline property price for statutory closing costs.
- Key ancillary costs include Legal Documentation (typically 5%), Survey Perfection, and Stamp Duty/Governor’s Consent.
- Infrastructure development levies must be clarified in writing prior to signing developer contracts.
- Typical transaction timeline from initial deposit to deed execution ranges between 14 and 45 days.
Beyond the Headline Purchase Price#
First-time homebuyers in Lagos often budget only for the sticker price of the home, only to be surprised by closing costs during final documentation. Here is the realistic breakdown you should plan for:
- 1Legal & Documentation Fee (approx. 5%): Covers preparation and execution of the Deed of Assignment and Contract of Sale.
- 2Survey Fee & Beaconing: Depending on the local government area (LGA) in Lagos, registered survey plans range between ₦350,000 and ₦1,200,000.
- 3Development/Infrastructure Levy: In serviced estates, developers assess a one-time levy for transformers, paved drainage, and street lighting.
- 4Governor’s Consent & Stamp Duty: Required to officially register your title at the Lagos State Lands Bureau, Alausa.
BALL Advisory Tip
Always ask your BALL advisor for the "Total Cost of Acquisition" schedule. We provide a consolidated, transparent breakdown with zero surprise developer fees at handover.
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