[For sale] 1-bed serviced apartment in Lagos — NGN 1,116,000,000

C

checkTheMeadow

Seller
I had to read the figures twice: this Lagos serviced apartment is listed at NGN 1,116,000,000 for one bedroom and approximately 180 m². Its condition is described as average to good, and viewings are available by appointment.

Before anyone requests documents or books a viewing, what would you want clarified? The floor area, local supply, energy performance, service charges, title documents, included fixtures and parking all seem important here.
 
The 180 m² needs explaining first. Is that the apartment’s internal usable area, or does it include balconies, terraces or some allocation of shared space? With an unusually large area for one bedroom, I would want a measured breakdown rather than relying on “approximately.” The exact part of Lagos and the specific building also matter before the asking price can be assessed meaningfully.
 
I would ask for the current service charge and exactly what it covers. A serviced apartment can have a very different total annual cost from the headline purchase price. Also ask whether there are any separate charges associated with parking, energy provision or shared facilities.
 
Agreed on the running costs, although I would not move to documents before resolving the basic description. “Average-to-good condition” is too broad: does it refer to finishes only, or are any repairs needed? A viewing should pay attention to the actual condition of fixtures and confirm which items remain with the apartment.
 
I would also resist calculating a price per square metre until the 180 m² is verified. If the figure contains shared or external areas, that calculation could be misleading. Once the area and exact location are clear, comparable local supply becomes much more useful.
 
For the appointment, make a short written list so nothing is missed: measure or confirm the rooms, identify included fixtures, inspect visible condition, ask how energy performance was assessed, and see the actual parking arrangement rather than accepting a vague mention of parking. Photos from the visit would also help reconcile any later paperwork with what was shown.
 
One caveat: a viewing can establish condition and layout, but it cannot settle ownership or title. If interest remains after the visit, the relevant title documents should be independently verified by someone familiar with the applicable Lagos requirements. I would also ask now whether the seller can identify what documents are available, without treating that list as proof.
 
Thanks all. The first questions will be the exact location/building, a breakdown of the approximately 180 m², the service charge and what it includes, parking, fixtures, and what “average-to-good” means in practical terms. If those answers are coherent, the next steps would be an appointment to inspect and measure, followed by independent verification of the title documents rather than trying to judge everything from the headline price.
 
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