WHAT TO LOOK FOR IN AN ESTATE AGENT/REALTOR

Choosing an estate agent can be very difficult and picking the correct estate agent can be even more difficult. When selecting an estate agent it is important to a good amount of research in order to ensure the one selected is suitable. There are many different estate agents within the housing market and therefore knowing which one to pick can be difficult.

Quite often the services and charges quoted by estate agents are very similar to each other and therefore choosing can often be difficult. Carrying out basic research on an estate agent should always be the first step that is carried out when looking to sell a house. Always look at the types of property that an agent is currently advertising and consider whether these looking similar to the house that is going to go on the market. Also try and gather research on the agent in terms of their selling rates; there are often review sites on the Internet that provide good information. Before agreeing to sell with an agent it is always important to meet the agency first and also to meet rival agents. The services offered are exactly the same and therefore it can difficult to know which is the best.

Always consider the rates that are being charged, this should be a deciding point but not always the main one. It is always good to look for an estate agent that has a good understanding of the local area. Any agents that have sold in a similar area are always useful. Just from meeting an agent it can provide a good view on whether an estate agent will be good at selling a house. A person who is full of confidence and holds good local knowledge will be very useful when selling a home. A good estate agent will be able to provide a value of a home that they believe it will sell for. Any estate agent that is providing a house value that is well above the market rate will usually not be a good choice. An estate agent that has a solid track record will be able to demonstrate this with ease; most will know how quickly a house will sell.

PROPERTY OWNERSHIP

Typical Concerns:

 

• What are the types of land ownership in Ghana?
• What are the land systems?
• What types of title are available?
• How do foreigners acquire land in Ghana?
• Can the land purchaser be certain the title is clear?
• What is role of the real estate agent in Ghana?
• Why is it critical to use a qualified property attorney on land purchases?
• What resources are available to assist me in land purchases?

 

Solutions:

 

• Land Ownership Forms

 

The dominant form of land ownership is customary land, which represents all the different categories of rights and interests held within traditional systems (stools, skins, clans, and families). About 80% of the land belongs to traditional owners. The other lands are public lands and private lands acquired out of the traditional land holdings.

 

• Land Systems

Two types of systems operate in Ghana: Deed Registration and Title Registration

• Deed Registration

-The authoritative recording of instruments/transactions affecting land which provides prima facie evidence of rights and interests in the particular piece of land
-Operates in nine regions of the country
-Through the Ghana Land Administration Project (LAP), a land registry has been established in eight regional capitals
-Operates in the Greater Accra Region and Kumasi (Awutu-Senya has just been declared a title registration district to pilot systematic rural titling under MiDA Project)

• Title Registration

-The authoritative adjudication and recording of the title to a piece of land
-Registration is by reference to the land itself and not the instruments affecting the land
-Title is state guaranteed
-Operates in the Greater Accra Region and Kumasi (Awutu-Senya has just been declared a title registration district to pilot systematic rural titling under MiDA Project)

Even though the Law provides for a systematic approach to registration in practice it is sporadic- we therefore recommend the use of a competent real estate attorney on all land transfers. 

• Foreigners Acquiring Land

 

There are no hard and fast rules and it is essentially no different from how any Ghanaian buys property in Ghana. It is crucial, though, that one seeks the services of a lawyer for this transaction in order for a proper due diligence as to title is conducted on his behalf. Foreigners are restricted in certain types of interest they can hold. A foreigner cannot hold a freehold interest in land or a lease exceeding 50 years. If a person who is not a Ghanaian buys a freehold interest in land it would be converted to a 50 year lease.

 

• Can I Be Certain of Clear Title?

 

Yes, but this requires a thorough search by the purchaser, which is why it is important to obtain a good lawyer to assist.

 

• What is the Role of the Real Estate Agent?

 

Real estate agents in Ghana find land or houses for prospective buyers and charge a fee for the services. Real estate agents in Ghana do not conduct due diligence to assure good title. This is why you must contact the best real estate agent to help you acquire a good title. This is when Westfields Real Estate comes in. Feel free to contact us. 00233288970080/00233208970080

 

• Why use a Qualified Property Attorney?

 

Ghana land tenure, even though settled, is fraught with problems. Land boundaries are not properly demarcated. Consequently, one could have instances where two or more stools may be claiming one parcel of land. If a purchaser does not get a qualified lawyer to do the proper due diligence, there is the possibility of buying a piece of disputed land from one feuding party only to have the other show up and claim the same land, thus landing you squarely in the middle of the dispute.

 

• Land Purchase Resources

 

Those who commonly assist in the land acquisition process include: real estate attorneys, real estate agents, real estate developers, Ghana Real Estate Developers Association, Ghana Investment and Promotion Centre, and the Chambers of Commerce.