How much are closing costs on a ₦500M home with Rent To Own?

Closing Costs on a ₦500M Home with Rent To Own

Closing costs on a ₦500M home with Rent To Own are the fees you pay on top of the price and deposit. You pay them to the seller, the bank, the lawyers and the state. Costs are higher from a developer than from an individual seller. The tables below show each fee.

At a glance

Developer Transaction
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · 3 fees
Individual Seller Transaction
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · 3 fees

These are estimates from general transactions handled on Giddaa, not a quote

Unless a fee says otherwise, percentage fees are applied to the ₦500,000,000 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.

Bank fees are quoted from Giddaa Bank and Peter Bank Limited.

Buying from a developer

Closing costs of ₦20,450,000 - ₦20,850,000 on a ₦500 million house bought with Rent To Own.

Legal Search
Required
Legal Search
₦250,000 - ₦500,000
0.5% - 1% of loan amount
Credit Search
Required
Credit Search
₦200,000 - ₦350,000
0.4% - 0.7% of loan amount

Subtotal — BankSubtotal, paid to bank₦450,000 - ₦850,000

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦20,000,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦20,000,000

Estimated Total Closing Costs · developer

₦20,450,000 - ₦20,850,000

Seller, bank and brokerage fees for a Rent To Own bought from a developer.

4.1% - 4.2% of the house price

Buying from an individual seller

Closing costs of ₦20,450,000 - ₦20,850,000 on a ₦500 million house bought with Rent To Own.

Legal Search
Required
Legal Search
₦250,000 - ₦500,000
0.5% - 1% of loan amount
Credit Search
Required
Credit Search
₦200,000 - ₦350,000
0.4% - 0.7% of loan amount

Subtotal — BankSubtotal, paid to bank₦450,000 - ₦850,000

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦20,000,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦20,000,000

Estimated Total Closing Costs · individual seller

₦20,450,000 - ₦20,850,000

Seller, bank and brokerage fees for a Rent To Own bought from an individual seller.

4.1% - 4.2% of the house price

Homes with closing costs like this

Listings on Giddaa priced at up to ₦500,000,000 that support Rent To Own.

Compare 6 options to buy this house

Asokoro, Abuja

5 Beds • 5 Baths • Duplex

Move In Ready

Message Us View Listing

Compare 4 options to buy this house

Grie, Adamawa

30 Beds • 0 Baths • Detached Bungalow

Under Construction

Message Us View Listing

Compare 7 options to buy this house

Arochukwu, Abia

4 Beds • 2 Baths • Bungalow

Move In Ready

Message Us View Listing

View All 4 Homes

Other price points on Rent To Own

Closing costs from ₦50M to ₦500M.

₦50M Home
₦2,405,000 - ₦2,765,000
4.8% - 5.5% of the house price · developer
₦75M Home
₦3,450,000 - ₦3,850,000
4.6% - 5.1% of the house price · developer
₦100M Home
₦4,450,000 - ₦4,850,000
4.5% - 4.9% of the house price · developer
₦150M Home
₦6,450,000 - ₦6,850,000
4.3% - 4.6% of the house price · developer
₦200M Home
₦8,450,000 - ₦8,850,000
4.2% - 4.4% of the house price · developer
₦300M Home
₦12,450,000 - ₦12,850,000
4.2% - 4.3% of the house price · developer
₦400M Home
₦16,450,000 - ₦16,850,000
4.1% - 4.2% of the house price · developer
₦500M Home
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · developer

A ₦500M Home on other purchase options

The same house price under every way to buy on Giddaa. Lowest and highest closing costs are tagged.

Outright Purchase
₦50,100,000 - ₦120,150,000
10.0% - 24.0% of the house price · developer
Payment Plan
₦50,100,000 - ₦120,150,000
10.0% - 24.0% of the house price · developer
MREIF Mortgage
Highest
₦82,010,000 - ₦83,750,000
16.4% - 16.8% of the house price · developer
NHF Mortgage
₦41,750,000 - ₦42,150,000
8.4% of the house price · developer
Rent To Own
You are here
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · developer

Frequently Asked Questions

Common questions about closing costs for this kind of transaction.

Buying a ₦500,000,000 home from a developer with Rent To Own, the estimated closing costs are ₦20,450,000 - ₦20,850,000 (4.1% - 4.2% of the house price). From an individual seller the closing costs are ₦20,450,000 - ₦20,850,000 (4.1% - 4.2%).

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Change the seller type, tweak the house price, or compare all six purchase options side by side.

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Closing Costs on a ₦500M Home with Rent To Own

At a glance

Developer Transaction
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · 3 fees
Individual Seller Transaction
₦20,450,000 - ₦20,850,000
4.1% - 4.2% of the house price · 3 fees

These are estimates from general transactions handled on Giddaa, not a quote

Bank fees are quoted from Giddaa Bank and Peter Bank Limited.

Buying from a developer

Closing costs of ₦20,450,000 - ₦20,850,000 on a ₦500 million house bought with Rent To Own.

Legal Search
Required
Legal Search
₦250,000 - ₦500,000
0.5% - 1% of loan amount
Credit Search
Required
Credit Search
₦200,000 - ₦350,000
0.4% - 0.7% of loan amount

Subtotal — BankSubtotal, paid to bank₦450,000 - ₦850,000

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦20,000,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦20,000,000

Estimated Total Closing Costs · developer

₦20,450,000 - ₦20,850,000

Seller, bank and brokerage fees for a Rent To Own bought from a developer.

4.1% - 4.2% of the house price

Buying from an individual seller

Closing costs of ₦20,450,000 - ₦20,850,000 on a ₦500 million house bought with Rent To Own.

Legal Search
Required
Legal Search
₦250,000 - ₦500,000
0.5% - 1% of loan amount
Credit Search
Required
Credit Search
₦200,000 - ₦350,000
0.4% - 0.7% of loan amount

Subtotal — BankSubtotal, paid to bank₦450,000 - ₦850,000

Giddaa Professional Fee
Required
Giddaa Professional Fee
₦20,000,000
4% of house price

Subtotal — BrokerageSubtotal, paid to brokerage₦20,000,000

Estimated Total Closing Costs · individual seller

₦20,450,000 - ₦20,850,000

Seller, bank and brokerage fees for a Rent To Own bought from an individual seller.

4.1% - 4.2% of the house price