The Quest of the Quist Family

Previously, Jackie was educated on the land acquisition process and walked through some essentials and red flags to be careful of when purchasing land. Today begins the land registration process which is the next step.

 

Today, their given final insights into the land registration process.

 

LAND REGISTRATION PROCESS

After completion of payment and receipt of all the documents covering the land, you’ll need to take it to the high court for a seal. After which you send it to Lands Valuation Board where they’ll value the land for you and give you the corresponding fees.

Now from the Lands Valuation you’ll need to go back to the Lands Commission, again with a letter, requesting for registration of the land with an attachment of all the relevant documents and this will be done for you after you’ve made the necessary payments.

But let me draw your attention to something, though, if the land in question belongs to the stool, then you’ll have to register it with the Stool Lands before you can do the land title. If it is for an individual who has already registered it, which is the best case, you’ll not need to go to the Lands Commission again, you simply go to the Lands Title Registry, where they’ll publish the sale of the land in the newspapers and if there’re no challengers with respect to the ownership within 21 days you’ll be given the certificate of registration”

Jackie became quiet. Images of her very busy schedules, the amount of money they had already lost with this land acquisition business and the stress that could possibly come with all these processes were beginning to wear her out.

“Okay Arc. Tekoa, but shouldn’t buying from a real estate company make all this easier?

What exactly should I look for if I’m buying from a real estate company?”

“That’s a very good question Jackie” Arc. Tekoa started answering “and you can call me Lilian”, she said with a smile, pulling down the formal curtain between them somehow. “Sometimes people let their guards down and fail to do due diligence simply because they’re buying from real estate companies. What I’m saying is you need to go see the physical location of both the land and office of the company. Subsequently, get a copy of the land documents and site plan and conduct your search at Lands Commission and make sure that it’s registered in the name of the real estate company. If it’s not, then do not risk it just because it is cheap and they may be offering a very flexible payment plan. What it actually means is that the company does not own the land and in case of trouble they cannot help you. Try not to lose money due to land purchase. Be patient when acquiring land Jackie. It is capital intensive so please take your time and go through the process to forestall any stress and further loss in the future.

See Also:  The Need to Consider Flood Insurance As a Single Policy

 

 

SUMMARY OF PART 1

This summary is for the benefit of my readers. This will bring you up to speed in case you have missed some of the previous episodes.

PART 1

Episode 1:

We all desire to own ‘property’, don’t we? ‘Property’, for us, are real estate, buildings, landed property, and for the ambitious, the more the better! While, it is a target plan for many people’s retirement, shelter is a basic human need, a requirement for survival. From the least to the greatest, shelter is right next to food and clothing.  The only between what the ambitious seek and the basic human need is the location, size, comfort levels, value and the lifestyle of the owners. There are however different types of residential property (houses) and they are as follows:

  1. Bungalow
  2. Townhouse
  3. Terrace House
  4. Apartment
  5. Condominium

 

Plate16: image showing a single storey bungalow    

 

Plate 17: image showing a row of town houses

 

Plate 18: image showing a block of terrace houses

 

Plate 19: (schematic) image of an apartment block showing the relationship between the private residences and the public amenities

 

We embarked on this enlightenment journey using the experiences of a young couple in their quest for a home of their own.

Episode 2:

The Quest of the Quist Family begun

  1. WHAT DO YOU WANT?

Before you make the decision to build, rent or buy, when to move out or where to move to, etc., you need to first figure out exactly what you want; and whatever it is you decide must at least suit your life style or better yet enhance it.

  1. Before setting out to acquire any piece of real estate, pause and put all the ideas and desires on paper. This exercise will help you clearly define the “destination” you want to arrive at. Don’t hold anything back. Just dream. Create a vision board.

 

Episode 3:

See Also:  Human Capital and Economic Growth in Ghana

WHAT DO YOU HAVE?

  1. You could easily lose money or get stuck on the project with huge sums of money buried into it yet uncompleted for it to be beneficial to you. So, make sure you have assessed all your financial streams. This will help you determine the right project size and type of project.
    1. analyzed their cash flow for the next two years
    2. Budget
    3. Cost of applications and other processing fees
    4. Running cost of the building
    5. Interest rates and payments (if you use a loan)
    6. Property taxes and cost of the insurance for the property
    7. Payment plan for project
    8. Cost of maintenance
    9. Possible lifestyle impact

 

Episode 4:

HIRING AN ARCHITECT

Architects really help you realize your dreams because they’re trained and are very good at seeing the big picture.

  • They help you navigate the planning process and building regulations too.
  • They can advise on the ergonomics and functionality of your project- for example, is there enough daylight, ventilation, productivity or efficiency, etc.
  • They’ll bring their knowledge and exposure on design trends, technological innovation, cost efficient methods and even environmentally friendly products to bear on your project.

 

 

Episode 5 and 6:

THE LAND ACQUISITION PROCESS

  • We have three types of land ownership in Ghana. The state lands, stool lands and family lands
  • you need to ascertain the land use
  • know the right owner before making any payments by conducting a search at the Land Title Registry
  • learn how to interpret the search results so you can make sound decisions
  • when given an indenture, examine it to ensure it has all the legal aspect well documented in your favour

 

 

About the Aurthor

Karen Evans Halm is an architect and an Associate, of the Ghana Institute of Architects with over a decade’s experience in the field.

She is also a co-founder of Spektra Global, a company that specilises in Architecture, Interior Design and Construction.

You can reach her with your questions at karenhalm@spektra.global , call +233 303 217241 / +233 55 133 2555 or visit her website at www.spektra.global

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