TL;DR: Route every significant property payment through your lawyer's escrow (or bank escrow): funds release only when agreed conditions - clean search, executed indenture, concurrence, registration lodged - are met. Direct-to-seller payment is the mechanism of nearly every documented scam.
How does escrow work in practice?
You deposit into a neutral account (your lawyer's client account or bank escrow). The agreement lists release conditions: verified title search, executed documents, required consents, registration filing receipts. The holder releases in tranches as each condition evidences. Seller gets paid; you get title - neither moves first unprotected.
What conditions should you set?
Deposit (5-10%) on signed agreement + clean search. Balance on executed indenture + concurrence + registration lodgement receipts. Retention (5-10%) until title certificate issues. Every condition needs a named evidence document and a deadline with refund triggers.
What does it cost and who holds?
Lawyer escrow typically folds into 1-2% legal fees; bank escrow charges schedule fees. Holder must be your counsel or a neutral institution - never the seller's lawyer alone, never an agent, never family.
Key takeaways
- Escrow converts trust into procedure.
- 'Pay direct for a discount' is the oldest discount in the scam book.
- Refund triggers with dates beat promises every time.
Frequently asked questions
Is escrow common in Ghana?
Increasingly, via lawyers and banks - and its absence in a deal is itself a red flag.
Can escrow hold documents too?
Yes - originals lodge with the holder pending conditions, preventing parallel sales during your window.
What if the seller refuses escrow?
Decline the deal. Legitimate sellers prefer escrow; only scammers need your money unprotected.
Sources: Ghana Ground Up escrow explainer; Africanvestor payment guidance.
Buying land in Ghana? Sporafind maps verified diaspora lawyers, surveyors and REAC-registered agents - diligence before deposits.