Tips for Buying a Repossessed House in Ghana

Wondering how to buy a repossessed house in Ghana? Here are some tips on what to look out for and how to make the process as smooth as possible.

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Tips for Buying a Repossessed House in Ghana
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Your dream of owning your own house is not as impossible as you think.

With the right skills and knowledge, you can make it happen. Here are some tips for buying a repossessed house in Ghana.

1) Start with understanding your personal budget

2) Recognize that a repossessed property may need repairs, renovations, or updating to make it habitable

3) Understand Ghanaian Law and the legal precedents for selling repossessed homes

4) Research the neighbourhood before committing to buy the property


Buying a repossessed house in Ghana

Buying a repossessed house in Ghana is a good idea if you are looking for affordability and a place to call your own. Not only that, but it is also an opportunity to stake your claim in the real estate market.

Many people have had their homes repossessed through a court order, so they are selling their property at much less than the market value. When buying a repossessed home, make sure that you’re aware of any repairs or renovations that will need to be done to make it habitable for you and your family. You could also benefit from paying attention to the neighbourhood before committing to buy the property.

It’s important for you to research the area before making any final decisions about buying a property, as many neighbourhoods have pros and cons. For example, some parts of Accra are very congested with traffic and noisy pollution while others are calmer due to their proximity with nature parks or serene suburbs.


What to look for when buying a house

Repossessed properties can be a wise investment but there are some things you need to consider before buying one.

-Location: When purchasing a property, it's important to research the neighbourhood. The neighbourhood should have amenities such as good schools, decent public transport, access to amenities and leisure facilities like malls or gyms, social mix and infrastructure.

-Size: Size matters when buying a house. The perfect size for your family will depend on factors such as mortgage debt, budget, future plans for children etc.

-Condition: Repossessed properties may need repairs, renovations or updating to make them habitable. This could include plumbing or electrical work, flooring and painting work etc.

-Security: Make sure the property has adequate security features in place such as perimeter fencing and alarm systems.


The Legal Aspect of Buying a Repossessed Property

Buying a repossessed property is not as simple as going to the bank and handing over your money. The seller will be expecting you to provide the following:

- Your identification documents, such as your passport

- Proof of Income (pay slip)

- Proof of ‘Nyash’ (a Ghanaian word for collateral)

Alternatively, you can use an African Union Development Bank Guarantee which is valid in all African countries. This is an excellent option because it provides peace of mind without tying up your funds.


What are the risks and opportunities of buying a repossessed home?

When you buy a repossessed home, there are some risks and opportunities.

First, it is important to understand that Ghanaian law stipulates that the seller of the property must declare any defects before the sale. This means you may need to spend money to fix or repair any issues with the property of your choice.

Second, if you buy a property from a bank, then you have a chance for a lower price as the bank will take into account the cost of repairs needed for re-sale.

Third, there are no guarantees that a bank will sell their repossessed properties at all times. So when considering buying a repossessed home in Ghana, make sure you understand what's involved because it may not always be an easy process.



Buying a property that has been repossessed can be a great investment. Not only can you get a property at a discounted price, but you can also take advantage of the opportunity to make your own changes to the home. Being aware of the risks and opportunities will help you make the most informed decision possible.