Tips to Complete a Successful Land Acquisition in Accra

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Tips to Complete a Successful Land Acquisition in Accra

Looking to build a new office, factory or warehouse? Purchasing land for your business can be a challenging process, but it can also be an exciting opportunity for your company. If you’se ready to find the perfect plot of land for your company, read on for some helpful tips. There are many things to consider when buying land as an investment. It’s not as simple as picking the prettiest plot of land that meets your needs and offers a good value. You need to be strategic and follow some best practices in order to make sure you buy the right piece of land at the right price with the right contract so that it benefits your company as much as possible. If you’re looking to purchase land in Accra, then read on for our expert tips on how you can complete a successful acquisition.

 

Know your requirements

Before you even pick up the phone to start calling about potential properties, you need to know what your business needs in a property. What kinds of amenities are a must-have? What type of weather conditions are suitable for your industry? What size do you need? There are many factors to consider when you know your requirements.

 

Get an accurate survey of the land

When you buy land, it’s not just the top surface that you’re buying. You’re buying the air above the surface, the ground beneath the surface and the water below the surface. Depending on the location, a survey may also reveal nearby properties, water towers and other buildings. When you purchase land, it’s crucial that you make sure there aren’t any surprises with the property. You want to make sure there aren’t any utility lines or other underground features (like a nearby stream) that may affect the land or your business. You also want to make sure the survey reveals nearby properties. If there’s a nearby property that’s larger than your own, that property may have an impact on your land.

 

Understand the contract

The contract is the foundation of the land acquisition. It outlines the terms of the sale and helps you know what the seller’s obligations are, what the seller’s expectations are of you and how you’ll pay for the property. If you don’t understand certain parts of the contract, you should ask the seller to clarify. You want to make sure the contract is thorough and valid. You should also make sure the contract is signed by both parties. There are many scams in real estate, so you should make sure you understand the contract and look out for any red flags.

 

Determine Fair Market Value

You should look at multiple properties to see how they compare to your desired property. You can use the price per square foot to compare the values of the properties. You should also consider the location, utilities, zoning and other factors to get a more accurate reading. You should also make sure the comparable properties are in the same condition. You’ll want to make sure the price you pay for the property is fair. If you pay too much, you won’t be able to make back the money you spent. If you pay too little, the seller may not be taking the transaction seriously and may try to negotiate the price down again.

 

Confirm ownership and zoning

Once you’ve found the perfect property, you’ll want to make sure it’s actually for sale and that it can be used for your business. You’ll want to contact the city to confirm ownership and zoning for the property. Once you’ve confirmed ownership, you’ll want to make sure the zoning for the property is appropriate for your business. Some businesses may not be allowed in certain zoning areas. Zoning can make or break a deal. You may find a perfect property that’s just what you’ve been looking for, but if it’s zoned incorrectly, you may not be able to use it for your business.

 

Final thoughts

Land acquisitions can be complicated and challenging, but they’re also exciting opportunities for your company. If you follow these tips, you can make sure your acquisition goes smoothly. Once you’ve found a property you like and a seller you trust, you’ll want to make sure you act quickly. Land sales can take weeks, months or even years, so you want to make sure you don’t lose this opportunity. You want to work with a real estate broker who can help you navigate the process. A broker works for you and will be on your side when you’re negotiating with sellers or other brokers. When you work with a broker, you’ll have access to a team of experts who can help guide you through the process.

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