How to Sell a House in Lagos: A Step-by-Step Guide

by Bright Ugochukwu
Jan 29, 2025

Selling a house in Lagos can feel like a BIG task.

There’s a lot to think about, from understanding the local property market to getting your home ready for potential buyers.

It’s not just about putting a ‘For Sale’ sign outside your door. You need to know how to price your home right, market it effectively, and handle all the legal stuff.

Plus, finding the right real estate agent can make a huge difference.

Our guide will walk you through each step, including:

Market Understanding
House Preparation
Pricing Strategy
Effective Marketing
Choosing an Agent
Legal & Financials
Open Houses & Showings
Negotiation & Closing
Moving & Transitioning
Alternative Selling Methods
Technology Role in Sales

Making the process a bit less stressful and helping you get the best deal possible.

Let’s get into it!

Takeaways

Understand the local real estate market to set realistic expectations.
Prepare your home by staging and making necessary repairs.
Price your property competitively using market analysis.
Market your home using online platforms and social media.
Choose a reliable real estate agent to guide you through the process.

Understanding the Lagos Real Estate Market

Key Characteristics of the Lagos Property Market

Lagos, Nigeria’s bustling metropolis, is a city of contrasts, especially when it comes to real estate.

Lagos’s incredibly high demand for housing is driven by its ever-growing population and the influx of people seeking opportunities.

The city is split into two main areas: the Island and the Mainland.

The Island, including areas like Lekki and Victoria Island, is known for its upscale properties and high cost of living, while the Mainland offers more affordable options.

Key characteristics of the Lagos property market include:

A mix of luxurious and affordable housing options.
High population density and rapid urbanisation.
Diverse neighbourhoods with varying levels of infrastructure and amenities.

Current Trends in Lagos Real Estate

The Lagos real estate market is dynamic, with trends shifting rapidly.

Recently, luxury apartments and gated communities have been on the rise, especially in the Island areas.

Meanwhile, the Mainland is seeing a rise in demand for more affordable housing solutions.

Current trends include:

A growing interest in eco-friendly and sustainable housing.
Increased investment in mixed-use developments.
The rise of smart home technologies in new builds.

Challenges in Selling Property in Lagos

Selling property in Lagos comes with its unique set of challenges.

The legal landscape can be complex, with numerous bureaucratic hurdles.

Also, the market is highly competitive, requiring sellers to be strategic in their approach.

Challenges include:

Navigating complex property laws and regulations.
Dealing with potential buyers’ financing issues.
Ensuring property titles are clear and undisputed.

Pro Tip: Selling a home in Lagos requires more than finding a buyer. You must understand the market and be ready to face the challenges. With the right approach, it can be a rewarding experience.

Preparing Your House for Sale

Importance of Home Staging

When selling a house, first impressions are everything.

Home staging can significantly impact how quickly and profitably your house sells.

It’s not just about making your home pretty. It’s about creating an inviting atmosphere that buyers can imagine living in.

Clear the clutter, rearrange furniture to highlight the best features of the home, and ensure each room has a clear purpose.

Neutral Colours: A fresh coat of neutral paint can make a world of difference. It makes spaces look larger and appeals to a broader range of buyers.
Lighting: Use natural light to your advantage. Open curtains and blinds during showings. Consider adding extra lamps to brighten dark areas.
Furniture Arrangement: Arrange furniture to create a sense of space and flow, making sure not to block walkways or windows.

Pro Tip: Home staging is an art that transforms a lived-in space into a marketable product. It’s about helping buyers see the potential of what your home could be for them.

Enhancing Curb Appeal

The outside of your home is the first thing buyers see. Enhancing curb appeal is essential in attracting interest from potential buyers.

Tidy up the garden, mow the lawn, and plant some colourful flowers. If necessary, repaint the front door and clean the windows.

Landscaping: Trim bushes, edge the lawn, and plant seasonal flowers for a splash of colour.
Front Door: Consider painting your front door a welcoming colour. A new door handle or knocker can also add a touch of class.
Cleanliness: Power wash the driveway and paths and ensure windows are spotless.

Decluttering and Depersonalising

Buyers want to see themselves in your home. It’s tough if your personal items are everywhere. Decluttering and depersonalising are key steps in preparing your house for sale.

Personal Items: Remove family photos, personal collections, and any memorabilia.
Storage Solutions: Invest in storage boxes or rent a storage unit to keep unnecessary items out of sight.
Minimalism: Aim for a minimalist look to make spaces appear larger and more inviting.

Pro Tip: These steps will present your home in the best light and help buyers envision living there. The goal here is to make your house a blank canvas for potential buyers.

Setting the Right Price for Your Property

Conducting a Comparative Market Analysis

Figuring out the right price for your home isn’t just about guessing. You’ve got to do some homework.

Comparative Market Analysis (CMA) is your best friend here. This involves looking at similar properties in your area that have recently sold.

Check their prices, size, condition, and location.

This gives you a ballpark figure of what buyers are willing to pay for a house like yours.

Look at homes that are similar in size and style.
Consider the condition of these homes compared to yours.
Pay attention to how long these homes were on the market.

A well-done CMA can prevent overpricing or underpricing, both of which can cost money or time.

Consulting with Real Estate Experts

Sometimes, you just need a real estate professional.

Real estate agents have the tools and experience to set a competitive price. They can offer insights into the local market trends and buyer behaviour you might not know.

Also, they can help you avoid common pitfalls in pricing your home.

Seek agents with a good track record in your area.
Ask for a detailed explanation of how they arrived at the suggested price.
Discuss any potential upgrades that might increase your home’s value.

Avoiding Common Pricing Mistakes

Getting the price wrong can be a deal-breaker.

Here are some common pitfalls to watch out for:

Overpricing from the start: This can scare away potential buyers and lead to your home sitting on the market for too long.
Ignoring market conditions: The real estate market can fluctuate, and prices can go up or down. Be aware of these changes.
Not adjusting the price: If your home isn’t getting any interest, it might be time to rethink your pricing strategy.

Pro Tip: A well-priced home can attract more buyers and potentially lead to multiple offers, giving you a chance to negotiate a better deal.

Before listing your property, take a moment to determine the right offer for a house. This involves understanding what your home is worth and setting a price that reflects its true value.

Doing so creates a WIN-WIN situation for both you and the buyer.

Marketing Your House Effectively

Utilizing Online Property Portals

In today’s digital age, getting your property online is a must.

Listing your house on sites like Oparah Realty can greatly increase its visibility.

Our platform connects sellers with potential buyers, making it easier for you to showcase your property to a large audience.

Ensure your listing is detailed and includes high-quality photos to attract more interest.

Leveraging Social Media Platforms

Social media isn’t just for socializing; it’s a powerful tool for selling your home.

Platforms like Facebook, Instagram, and X (formerly Twitter) can help you reach a wider audience.

Create engaging posts with appealing photos and videos of your property.

Don’t forget to use relevant keywords, hashtags and location tags to increase your reach.

Also, consider running targeted ads to capture the attention of potential buyers in Lagos.

Creating High-Quality Visual Content

A picture is worth a thousand words; in real estate, a good photo can be worth thousands of dollars. Invest in professional photography to capture your home’s best features.

Videos are getting more popular. A virtual tour can help buyers better feel the property.

Ensure your visuals highlight your home’s unique aspects, from the spacious living areas to the charming garden.

Pro Tip: First impressions matter. Your home’s online presence is often potential buyers’ first contact. High-quality visual content can set your listing apart from others and attract more serious buyers.

Choosing the Right Real Estate Agent

Finding the right real estate agent can make all the difference when you’re selling your house.

But how do you make that choice?

Qualities to Look for in an Agent

First off, you want someone who’s been around the block a few times.

Check out their online profiles to see how long they’ve been in the game and how many deals they’ve closed.

Look at their marketing style.

Are their property photos professional? Do they have a knack for showcasing homes in the best light?

Experience: Years in the business and a number of successful transactions.
Marketing Savvy: Quality of listings and photographs.
Communication Skills: How well they keep you in the loop.

Questions to Ask Potential Agents

Before you sign on the dotted line, it’s smart to grill them a bit.

Here’s a list of questions to keep handy:

How long have you been an agent?
Can you provide references from past clients?
What’s your strategy for selling homes in this area?
How do you plan to market my property?

Understanding Agent Fees and Contracts

Real estate agents don’t work for free, and their fees can vary.

They usually charge a percentage of the sale price.

But, did you know these fees are often negotiable?

Fee Type	Typical Percentage
Listing Agent	2.5% - 5%
Buyer's Agent	2.5% - 5%

Pro Tip: Negotiating agent fees can save you a chunk of change at closing. It’s worth discussing upfront.

Also, make sure you understand the contract terms.

What’s the duration of the agreement? Are there any conditions if you decide to switch agents?

Knowing these details can save you headaches down the road.

When choosing a real estate agent in Lagos, verify their licenses and membership in professional associations. Requesting references and reviews from past clients is important to assess their credibility and service quality.

Choosing the right agent isn’t just about finding someone to put up a ‘For Sale’ sign. It’s about finding a partner to help navigate the twists and turns of selling your home. Take your time, do your homework, and make sure you feel comfortable with your choice.

Navigating Legal and Financial Aspects

Understanding Property Laws in Lagos

Selling a house in Lagos has its own legal requirements and regulations.

Getting familiar with the local property laws is important to avoid any hiccups.

First, you must ensure that your property has a valid title. Without this, selling could become a nightmare.

A property lawyer can be a lifesaver. They can help you verify all the documents and ensure everything is in order.

Handling Financial Transactions Safely

When it comes to financial transactions, be cautious.

Always insist on secure payment methods.

Cash is risky, and cheques can bounce. Bank transfers are usually the safest way to go.

If a buyer uses a loan to finance the purchase, ensure the bank has evaluated the property and ensures that the sale price aligns with the bank’s valuation, avoiding any last-minute surprises.

Avoiding Real Estate Scams

Lagos, like many cities, isn’t immune to scams. To protect yourself, never rush into a deal without doing your homework.

Verify the buyer’s identity and ensure all agreements are in writing.

If something feels off, trust your instincts and walk away. Hiring a real estate attorney can be a smart move to spot any red flags early on.

Pro Tip: Selling a property is a big deal, and navigating the legal and financial landscape can be tricky. But with the right knowledge and a bit of caution, you can make the process smoother and more secure.

In some cases, DFI financing can be an option worth exploring, especially if you’re dealing with large-scale real estate investments.

It offers more extended repayment periods and involves thorough project evaluations, ensuring due diligence is carried out.

Conducting Open Houses & Private Showings

Preparing Your Home for Viewings

Getting your home ready for viewings is a bit like preparing for a big event.

First, make sure everything is clean and tidy. A clean home not only looks better but also gives off a good vibe to potential buyers.

Consider a deep clean. Focus on areas that might not get regular attention, like windows and light fixtures.

Next, think about the lighting.

Opening curtains and blinds to let in natural light and turning on all the lights in the house makes the home feel welcoming and spacious.

You might also want to add some fresh flowers or a bowl of fruit to add a touch of colour and life.

Scheduling and Hosting Open Houses

Timing is everything when it comes to scheduling open houses.

Weekends are generally the best time, as more people are free to attend.

Try to avoid major holidays or local events that might draw people away.

When hosting, be ready to answer questions about the house and the neighbourhood.

Have brochures or information sheets available that outline the property’s key features, recent upgrades, and any other selling points.

Consider offering some light refreshments to make visitors feel more comfortable. Keep the atmosphere relaxed, and let potential buyers explore at their own pace.

Following Up with Potential Buyers

After the open house, it’s essential to follow up with interested parties.

A simple thank-you email can go a long way.

It shows that you appreciate their time and are serious about selling.

In your follow-up, include any additional information they might find helpful, such as the property’s listing on Oparah Realty for further details.

Invite them to ask questions or schedule a private showing if they are interested.

Pro Tip: Staying in touch with potential buyers can help you gauge their interest and possibly lead to an offer. It’s about keeping communication open and being proactive in the sale.

Negotiating Offers and Closing the Deal

Evaluating Offers from Buyers

When offers start rolling in, the excitement is real. But don’t just jump at the highest number.

Look at the whole package.

Consider how the buyer plans to pay—cash or mortgage? Are there any strings attached, like contingencies? And what’s their timeline?

If they’re relying on a loan, keep in mind the property needs to be appraised. You might hit a snag if the appraised value is lower than the offer.

Making Counteroffers

You have options when an offer comes in: accept, reject, or counter it.

A counteroffer is your chance to tweak the deal. Maybe you want to stick to your asking price but are willing to throw in some extras, like leaving behind the appliances.

Always put counteroffers in writing and give the buyer a deadline to respond.

Finalising the Sale Agreement

Once you’ve agreed on terms, it’s time to seal the deal.

This is where having a real estate attorney can be a lifesaver. They’ll help with all the legal mumbo jumbo, making sure everything’s in order.

They’ll look over the contracts, check for any issues like liens or encroachments, and ensure the transaction goes smoothly.

It might cost a bit, but it’s worth it to avoid any nasty surprises down the line.

Pro Tip: Selling a home can feel like a rollercoaster, but you’ll get there with the right approach and some patience. Remember, it’s not just about the money; it’s about finding the right fit for both you and the buyer.

Moving Out and Transitioning

Planning Your Move Efficiently

Packing up your life and moving to a new place can be both exciting and stressful. Start by making a detailed plan that outlines each step of the move.

Here’s a simple checklist to help you get started:

Create a timeline: Choose your moving date. Then, work backwards to schedule packing, hiring movers, and any other tasks.
Sort and declutter: Go through your belongings and decide what to keep, donate, or throw away.
Notify important parties: Inform your utility companies, banks, and the post office of your new address.

Moving doesn’t have to be chaotic. With some planning, you can make the transition smooth and easy.

Handling Utilities and Services

Before you leave, ensure you have sorted all your utilities and services.

Cancel or transfer services like electricity, water, and internet to your new address. It’s also wise to settle any outstanding bills to avoid complications later.

When ensuring compliance with building regulations, double-check that all modifications and installations in your property are up to code.

Saying Goodbye to Your Home

Leaving a house isn’t just about packing boxes; it’s about closing a chapter.

Take time to reflect on the memories you’ve created.

Maybe host a small farewell gathering with friends and family to properly say goodbye. It’s not just a house you’re leaving but a home filled with moments and milestones.

Exploring Alternative Selling Options

When selling a home in Lagos, you might think the traditional route is your only option.

But guess what?

There are other ways to get your property off the market. Let’s explore some alternative selling options.

Selling to Real Estate Investors

You might want to consider selling your house to a real estate investor.

These people usually pay in cash and can close deals super fast.

This option is excellent if you need to sell quickly and avoid the hassle of traditional sales.

However, keep in mind that investors often look for a bargain, so you might not get top dollar for your property.

Here’s a quick look at what to expect:

Pros	Cons
•‎ ‎ Quick sale	•‎ ‎ Lower price
•‎ ‎ Cash offers	•‎ ‎ Less negotiation
•‎ ‎ No need for repairs

Considering Rent-to-Own Agreements

Rent-to-own agreements can be a WIN-WIN for both sellers and buyers.

This arrangement allows a potential buyer to rent the property with the option to purchase it later.

It can be a good choice if your home isn’t selling quickly or you’re open to ongoing rental income.

Some benefits include:

Steady rental income
Potential for a higher selling price
Attracts buyers who might not qualify for a mortgage right away

Exploring Online Property Auctions

Online property auctions are becoming more popular and can be a great way to sell your home quickly.

These platforms allow buyers to bid on your property, often resulting in a sale within days.

However, setting a reserve price is essential to ensure you don’t sell for less than you’re willing to accept.

Pro Tip: Online auctions can attract a wide audience, increasing the chances of a successful sale.

When considering these options, explore the variety of properties for sale in Lekki, which can give you an idea of the competition and help you decide the best strategy for your sale.

Whether you choose to work with an investor, enter a rent-to-own agreement, or try an online auction, there’s a method out there that might be just right for you.

Understanding the Role of Technology in Selling

Using Virtual Tours and 3D Walkthroughs

Selling a house is no longer just about open houses and printed brochures.

Virtual tours and 3D walkthroughs have become game-changers in the property market.

These tools allow potential buyers to explore your home from anywhere in the world, providing an immersive experience without stepping foot on the property.

This not only saves time for both buyers and sellers but also attracts international interest.

To start, you can hire professionals to create these digital tours. Or, use online platforms that offer DIY solutions.

Implementing Digital Marketing Strategies

Marketing a property has evolved, thanks to digital strategies.

Instead of relying solely on traditional methods, sellers can now tap into a wide array of online channels.

Facebook and Instagram are not just for socialising. They’re also powerful tools to reach potential buyers.

Crafting engaging posts, using targeted ads, and sharing eye-catching visuals can significantly boost your property’s visibility.

Additionally, listing on Proptech platforms can streamline the selling process by connecting you with a broader audience.

Embracing Online Communication Tools

Communication is key when selling a property, and technology has made it easier than ever.

Online communication tools like video calls and instant messaging apps enable easy interaction among sellers, buyers, and agents.

These tools not only enhance the speed of communication but also provide a record of conversations, which can be handy during negotiations.

Whether you’re finalising details or responding to inquiries, these platforms ensure you’re always connected, making the selling process smoother and more efficient.

Pro Tip: In today’s fast-paced world, we must embrace tech in real estate. It’s not an option—it’s a necessity. From virtual tours to digital marketing, these tools broaden your reach and streamline the entire selling process, making it more efficient and effective.

Wrapping It All Up

So, there you have it, guys. Selling your house in Lagos doesn’t have to be a daunting task.

With a bit of planning, some elbow grease, and the right approach, you can make it happen. Stage your home to make it inviting, set a fair price and use all your tools to spread the word.

And don’t forget, being ready to negotiate is key.

It’s all about finding that balance between what you want and what the buyer is willing to offer. At the end of the day, if you get a good deal, take it.

Don’t let your house sit on the market for too long.

Happy selling!