Practical due diligence to the acquisition of land for Real Estate development in Ghana; Advise to investors

Acquiring land in Ghana for real estate has proven to be as difficult as circumventing the uncharted waters of the menacing Bermuda Triangle. The difficulties in acquiring lands in Ghana range from land litigations, difficulties in the acquisition of land title certificates in areas where it is applicable, acquisition of building and demolition permits, endless monetary demands from unbridled youthful violent hooligans christened as “land guards” especially in Accra and some parts of the Central Region. 

Previously, investors have solely relied on solicitors in most land transactions and solicitors were deemed as demigods in matters of land transactions. This aged assertion has proven to be infantile because the task of conducting due diligence in land transactions in Ghana goes beyond the realm of mere legalities. 

For instance, most solicitors with no knowledge in property valuation cannot be in a position to enlighten their clients on the precise open market value or the forced sale value (which is normally 70% of the open market value in Ghana) of a property to appropriately advise their clients as to the suitable price for which a property should be purchased for.

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