Before you begin the process of buying property in Ghana make sure you are aware of all the costs involved to avoid a nasty surprise at the end. Always confirm, preferably in writing, who pays which fees.
The property buying process in Ghana is similar to most other countries. There are a number of fees and taxes to be paid by the buyer. Before you sign any paperwork ensure both sides are aware of who is paying what.
The buyer pays:
Overall the buyer pays an additional 5%-12% of the sale price in fees and taxes on top of the purchasing price. The seller will pay around 5% extra in fees.
Legal fees, if you enlist the help of a lawyer, are set by the Ghana Bar Association. The following fees are a prescribed list for conveyance:
| Maximum rate |
|
| US$11,500 – US$40,000 | 10% |
|
| US$40,000 – US$85,000 | 7.5% |
|
| US$85,000 – US$180,000 | 5% |
|
| Over US$180,000 | 3% |