It is crucial to protect yourself from fraudulent land transactions, as many people have become victims. Land scams can lead to financial losses, protracted legal battles, emotional and psychological traumas and many more. Due diligence, cautious research and involving professionals are your best defenses.
Here are some common signs and tips to help you identify land scams in Ghana:
Unrealistic Price
Be cautious of sellers who offer their lands at prices far lower than the prevailing market rate. For example, when the acclaimed Landlord prices his land in a prime area significantly very cheap, it should ring a bell. It could be a snappy way to get away with your money.
Imagine an acre of Land in Airport that sells at $2.5m being sold for $50k. Though it could be true, it leaves much room for questioning and due diligence. You need to be wary of offers that look too good to be true.
Fake documents:
Some people can forge land documents. The uninformed buyers can be easily swayed by this. You need to verify the authenticity of all land titles and indentures with the Lands Commission. Verify the ownership and ensure you’re dealing with the right people. You need to even get your own surveyor to pick the coordinates of the land for your title search. Don’t depend on the site plan of the landlord, you can be easily misled by it.
Been Pressured to Buy Quickly:
Be mindful of sellers who create a high sense of urgency, pressuring you to buy the land immediately. Take your time to conduct due diligence and don’t rush into a purchase. Satisfy yourself about the authenticity of the land before you part away with your hard earned money.
Unprofessional or Suspicious Behavior:
The transaction should be open, transparent and clear. The buyer has the right to ask questions and seek clarification on all matters relating to the land. If the seller or agent behaves in an unprofessional, evasive manner and is secretive, it could be a red flag.
Unusual Payment Methods:
Be cautious if the seller insists on unconventional payment methods, such as cash-only transactions or offshore bank accounts. As much as possible try and have proof of payment for future references.
No Access to the Land:
If the seller does not allow you to physically inspect the land or it’s impossible to locate the land, it could be a scam. Insist on entering the land even if it’s fenced. Spend some time moving around the land and visit the land multiple times after you’ve made the decision to purchase. Don’t pay for a land which you haven’t seen or entered.
Talk to Prominent members of the town.
When purchasing land in Ghana, consider seeking advice from locals who are familiar with or live in the area. Chances are that they might give you some insight about the history of the land. If it’s a litigated land, they will quickly inform you. If the land is a roadway or a waterway they can tell you. If the potential seller tries to discourage you from talking to the members of the community, it could be a redflag.
Consult Professionals:
Always consult legal professionals and real estate agents who are experienced in the land acquisition process before concluding on any land transactions. Their experience and insights can save you from losing your investments or expensive legal battles.
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