At a glance
Closing Costs at ₦100M · Developer
₦10.10M - ₦24.15M
10.1% - 24.2% of the house price · 3 fees
Closing Costs at ₦100M · Individual Seller
₦10.10M - ₦24.15M
10.1% - 24.2% of the house price · 3 fees
Outright Purchase Closing & Transaction Costs
On an Outright Purchase, you pay closing costs to the seller, the bank, the lawyers and the state. Costs are higher when you buy from a developer than from an individual seller. The total changes with the house price. See the table for the cost at each price.
Closing costs on an Outright Purchase transaction fall into three groups: what you pay the seller (developer or individual), what you pay the bank, and what you pay the brokerage, lawyers and state. The table below shows the estimated total at each price point. Open a price for the full fee-by-fee closing breakdown.
These are estimates from general transactions handled on Giddaa, not a quote
Unless a fee says otherwise, percentage fees are applied to the house price. The banks, lawyers and the sellers (developer or individual) confirm the exact figures at offer-letter stage, and some costs can be negotiated. However, you should prepare with this in mind as they are more accurate than not.
Fees last checked: .
What do closing costs cost at each price?
Estimated closing cost ranges for an Outright Purchase transaction from ₦50M to ₦500M. Ranges show where a fee varies by bank, lawyer, state or estate.
- From a developer₦5,100,000 - ₦12,150,00010.2% - 24.3% of house price
- From an individual seller₦5,100,000 - ₦12,150,00010.2% - 24.3% of house price
| House Price | From a developer | From an individual seller | Actions |
|---|---|---|---|
| ₦50M Home₦50,000,000 | ₦5,100,000 - ₦12,150,00010.2% - 24.3% of house price | ₦5,100,000 - ₦12,150,00010.2% - 24.3% of house price | Full breakdown |
| ₦75M Home₦75,000,000 | ₦7,600,000 - ₦18,150,00010.1% - 24.2% of house price | ₦7,600,000 - ₦18,150,00010.1% - 24.2% of house price | Full breakdown |
| ₦100M Home₦100,000,000 | ₦10,100,000 - ₦24,150,00010.1% - 24.2% of house price | ₦10,100,000 - ₦24,150,00010.1% - 24.2% of house price | Full breakdown |
| ₦150M Home₦150,000,000 | ₦15,100,000 - ₦36,150,00010.1% - 24.1% of house price | ₦15,100,000 - ₦36,150,00010.1% - 24.1% of house price | Full breakdown |
| ₦200M Home₦200,000,000 | ₦20,100,000 - ₦48,150,00010.1% - 24.1% of house price | ₦20,100,000 - ₦48,150,00010.1% - 24.1% of house price | Full breakdown |
| ₦300M Home₦300,000,000 | ₦30,100,000 - ₦72,150,00010.0% - 24.1% of house price | ₦30,100,000 - ₦72,150,00010.0% - 24.1% of house price | Full breakdown |
| ₦400M Home₦400,000,000 | ₦40,100,000 - ₦96,150,00010.0% - 24.0% of house price | ₦40,100,000 - ₦96,150,00010.0% - 24.0% of house price | Full breakdown |
| ₦500M Home₦500,000,000 | ₦50,100,000 - ₦120,150,00010.0% - 24.0% of house price | ₦50,100,000 - ₦120,150,00010.0% - 24.0% of house price | Full breakdown |
Every closing cost you can expect, and how each one is calculated.
Which fees do you pay a developer?
3 closing costs in the transaction.
Legal Fee
RequiredLegal fee is paid to the legal department
5% - 12% of house price
Brokerage Fee
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Fixed
Legal Fee
RequiredLegal fee is paid to the legal department
5% - 12% of house price
Which fees do you pay an individual seller?
3 closing costs in the transaction.
Legal Fee
RequiredLegal fee is paid to the legal department
5% - 12% of house price
Brokerage Fee
OptionalIt is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).
Fixed
Legal Fee
RequiredLegal fee is paid to the legal department
5% - 12% of house price
Homes you can buy with an Outright Purchase
Listings on Giddaa that support an Outright Purchase transaction.
Closing costs on other purchase options
Compare the same price points under every way to buy on Giddaa.
Outright Purchase
You are here₦10,100,000 - ₦24,150,000
closing costs on a ₦100M developer home
Payment Plan
₦10,100,000 - ₦24,150,000
closing costs on a ₦100M developer home
MREIF Mortgage
Highest₦17,630,000 - ₦19,010,000
closing costs on a ₦100M developer home
NHF Mortgage
₦9,750,000 - ₦10,150,000
closing costs on a ₦100M developer home
Rent To Own
Lowest₦4,450,000 - ₦4,850,000
closing costs on a ₦100M developer home
Frequently Asked Questions
Common questions about closing costs for this kind of transaction.
On an Outright Purchase transaction from a developer you pay 3 fees: Legal Fee, Brokerage Fee, Legal Fee. From an individual seller the closing costs are Legal Fee, Brokerage Fee, Legal Fee.
Estimate your own closing costs
Enter your house price and seller type in the interactive Cost Estimator to get a personalised closing cost breakdown for an Outright Purchase.