Off-plan buying can be one of the most cost-effective ways to enter a growing corridor — you're paying pre-construction pricing for an asset that, if the developer delivers, is worth meaningfully more on completion. It can also be one of the riskiest, because the entire transaction rests on a promise rather than a finished asset. The difference between the two outcomes almost always comes down to due diligence done before signing, not after.
Investigate the developer, not just the development
A polished brochure and rendering tell you nothing about whether a developer actually delivers. Look for a track record: completed projects you can physically visit, references from buyers in those earlier projects, and how closely those projects matched their original marketing timelines and specifications.
Verify the underlying land title
The developer's title to the underlying land should be verifiable independently — not just asserted in the sales brochure. If the land itself has title issues, no amount of construction progress protects your investment. This is the single most common source of catastrophic off-plan losses in Nigeria.
Scrutinise the payment structure
Payment plans tied to construction milestones — rather than large upfront lump sums with no verification — align the developer's incentives with actual delivery. Be cautious of structures that require the bulk of payment before meaningful construction progress is visible.
Questions to ask before signing an off-plan contract
- Is the underlying land title clean and independently verifiable?
- What happens contractually if the project is delayed — is there a penalty clause?
- Is the payment plan tied to verifiable construction milestones?
- Can I visit a previously completed project by this developer?
- What exactly is included in the quoted price — finishes, fittings, service charge setup?
Read the contract for what happens when things go wrong
Most off-plan disputes aren't about fraud — they're about delay, and about contracts that don't clearly specify what happens when a project runs late. A well-drafted off-plan agreement should include a realistic completion date, a defined grace period, and a clear penalty or refund mechanism if that grace period is exceeded.
Don't skip the exit scenario
Before committing, consider what happens if you need to exit before or shortly after completion — is the contract assignable, and under what terms? Off-plan positions with unclear or restrictive assignment terms can leave capital trapped even in a rising market.
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