Real Estate Scams and How to Avoid Them in Ghana.

In Ghana, real estate scams are becoming more common and sophisticated. Here’s how to recognize and avoid them:

Common Scams

1. Rental Listing Scam: Fake listings or photos of real properties to collect deposits without actually renting out the property.

Payment/Wire Fraud: Scammers posing as agents may give fake bank details for your payment.

2. The Invisible Home: Offers on properties with incomplete or unverifiable details, pressuring you for a deposit without showing the property.

3. Defect Cover-Up: Sellers hiding major property issues or discouraging inspections.

How to Spot a Scam

1. Sudden Payment Changes: Be wary of last-minute changes in payment details.

2. Avoiding Your Lawyer: If the seller or agent resists you involving your lawyer, be cautious.

3. Email-Only Communication: Legitimate agents use phone and in-person communication

4. Rush Tactics: Don’t be pressured into quick decisions or payments.

5. Deposit Before Viewing: Never pay a deposit before seeing the property.

How to Protect Yourself

1. Trust Your Instincts: If something feels off, it probably is.

2. Verify Details: Confirm payment details and property information directly with your agent.

3. Use Reputable Agents: Work with licensed and well-known real estate professionals.

4. Inspect Before Paying: Always inspect the property before making any payments.

If You Get Scammed

Report it immediately to your bank, local police, and the Criminal Investigation Department (CID).

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