With dozens of new off-plan developments launching across Lagos, Ogun, Abuja and other cities in 2026, the ability to distinguish genuine projects from high-risk or outright fraudulent schemes has never been more important.
Many buyers have lost significant money by rushing into attractive marketing materials without proper verification. Here is the updated 8-point checklist used by seasoned investors and real estate lawyers before committing any deposit to an off-plan project.
1. Verify Developer Track Record
- Check how many projects the developer has successfully completed and delivered in the past 5–7 years.
- Speak with buyers from at least 2–3 previous projects.
- Confirm the company is properly registered with CAC and has no major court judgments against it.
- Red Flag: New company with no completed projects or frequent name changes.
2. Confirm Land Title and Approvals
- Demand original Certificate of Occupancy (C of O) or Governor’s Consent in the developer’s name.
- Conduct an independent search at the Lands Registry.
- Verify building approval and all regulatory permits are in place.
- Red Flag: Only allocation letters, survey plans, or “family land” without proper registration.
3. Insist on Escrow or Structured Payment Protection
- All deposits and milestone payments must go through a reputable escrow service or a trusted lawyer’s client account.
- Never pay large sums directly into the developer’s personal or company account.
- Red Flag: Developer insists on direct bank transfer with no third-party protection.
4. Review the Project Agreement Carefully
- The contract must clearly state completion timeline, penalties for delay, and refund conditions.
- Look for specific milestones tied to payments (foundation, roofing, finishing, etc.).
- Red Flag: Vague timelines (“within 24 months”) or “no refund under any circumstance” clauses.
5. Visit the Site Multiple Times
- Physically inspect the land and confirm it matches the marketing materials.
- Check for access roads, drainage, and surrounding developments.
- Take dated photos and videos during visits.
- Red Flag: Site is overgrown bush with no visible activity or different from advertised location.
6. Evaluate Financial Transparency
- Ask for proof of funding (bank facilities, equity partners, or previous sales).
- Request audited financials or bank statements showing project-specific funds.
- Red Flag: Developer cannot provide clear evidence of how the project is funded.
7. Check for Regulatory Compliance and Red Flags
- Confirm the project is not on any government blacklist or EFCC watchlist.
- Verify there are no pending litigations or community disputes over the land.
- Red Flag: Multiple complaints on consumer forums or social media about delayed or abandoned projects by the same developer.
8. Engage Independent Professionals
- Always use your own lawyer and surveyor (never rely solely on the developer’s team).
- Get a professional valuation and structural feasibility opinion if possible.
- Red Flag: Developer discourages independent due diligence or pressures you to “sign quickly”.
Current 2026 Reality Check Many legitimate developers now offer escrow, clear milestones, and transparent reporting. However, the number of “fly-by-night” schemes promising unrealistic returns with minimal documentation has also increased. Following this checklist dramatically reduces your risk.
Final Thoughts
In 2026, the off-plan market offers real opportunities — but only for those who approach it with discipline and proper verification. A few extra days or weeks of due diligence can save you years of regret and financial loss.
Never let marketing pressure (“limited slots”, “price increases tomorrow”) push you into skipping these checks. A genuine developer will respect a serious buyer who does proper homework.
Have you encountered any red flags while evaluating off-plan projects in 2026? Or do you have additional checks that have saved you? Share your experiences in the comments to help other readers.
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