Investing in lands is one of the best ways to create wealth, however Land acquisition is a very complex transaction. Some people have lost great deals of money because they were not well informed about the right procedures. 

Here’s a general guide on the series of steps you can follow to  acquire land in Ghana. 

Consider the Location

Identify the location or geographical area that will best suit your needs. Conduct your own research on the  different regions and areas in Ghana to find the location you want. Your  purpose of wanting to buy the land whether it’s for residential, commercial, or agricultural purposes may determine the location. Consider factors like proximity to amenities, infrastructure, and potential for appreciation in value. 

Engage the services of a  Professional Real Estate Agent or Lawyer:

These professionals are knowledgeable about the local laws and regulations and all the nitty gritty of land transactions. They will help you identify litigation-free lands, negotiate prices and handle all the paperwork for you.

Ownership Verification and due diligence 

Ensure you are dealing with the right people. Ensure the seller has legal ownership of the land. You can do so by asking for proof of ownership documents such as land title certificate or indenture. Make sure you verify these documents with the Lands Commission. Your legal counsel or the real estate agent can help you with this. 

You should engage a land surveyor to confirm the boundaries and size of the Land. Conduct thorough investigation to identify disputes, encumbrances and issues on the land. Try engaging the local people in the neighborhood and gather insights about the land

Negotiate the Price and draft Sales and Purchase Agreement

Negotiate the price of the land. Working with  professional real estate agents such as Helidem Properties will help you buy the land at the right price as some landlords may over price their property.  

Once a good price has been negotiated, the sales and purchase agreement should be drafted. It should outline all the terms and conditions, the price, the payment schedule and all the relevant details pertaining to the purchase. 

Deposit and Payment:

Make the initial payment as stated in the sales agreement. It is usually advisable to make payment into an escrow account agreed by both parties, just to be safe. The money will then be transferred to the landlord when the land title has been transferred to the new owner. 

Land Title Transfer and Documentation:

Upon payment of the agreed sum of money, title transfer is done in your name. Transfer of ownership is usually done at the Lands Commission. Prior to this, ensure that all necessary documentation is prepared and signed in the presence of a lawyer . You will be required to pay any required fees, stamp duties and taxes associated with the transfer.

After Purchase

Once the land becomes yours, consider securing it with a fence wall. Or you can also undertake a project as quickly as possible to avoid encroachment. 

Remember to consult your real estate agent or legal advisor throughout the entire process to ensure a smooth transaction. 

Remember to talk to Helidem Properties for your real estate needs.