Land is arguably the most valuable fixed asset that a person
can own today. It is a dream of many people to own a piece of land – even if it
is a 1/16.
For a rich agricultural county like Uasin Gishu, it will
always be a big deal to have your own land or a plot, for those living in urban
areas.
Buying land is a process that takes time and has procedures
you need to follow to the latter from seeing that ‘Land for Sale’ banner to
getting full ownership.
We take you through some of the key steps you need to follow when buying land – not only in Eldoret or Uasin Gishu but also across the country.
1. Search and inspection of land
After identifying a piece of land that you want to purchase,
you will need to confirm a few details about it – like the owner of the land,
location, actual size among others. To get all these details, you will need to
do a search – either at Land offices or you can do it at the comfort of your
house, via online.
Aso Read: Step-By-Step Guide on Online Land Search in Kenya
For the success of this stage, you need to have a land title
deed for the parcel you intent to purchase – because you will need the deed
number for your search.
2. Prepare offers and price negotiations
Most of the time, the landowner will have his/her preferred
price and it will be up to you intending to purchase it to table your offer –
indicating how much you are willing to pay so that you can negotiate and reach
an agreement.
It is always good to table offers in written form - normally drafted by the seller’s advocate and presented to the buyer’s advocate for approval.
3. Sale agreement and deposit payment
After an agreement on the price of the land is reached, both parties will ensure terms and conditions are also
included and agreed upon after which a sale is drafted – normally by seller’s
advocate and presented to buyer’s advocate before it is approved.
Once a sale agreement is sealed, the buyer will be required to deposit the agreed amount usually through his/advocates to the seller’s bank account – or in cash (is that is what will have been agreed as a mode of payment).
Find Property in Uasin Gishu County
Baoriat Agencies
Call: +254 721-554-937
4. Payment of land rates
In the event that the land being sold has any outstanding land rates, the seller will need to clear any pending rates on the land before it goes to the next step – transfer of documents.
5. Transfer documents and consent to the transfer
Once both parties – seller and buyer agree on the purchase
price, the seller’s advocate will be required to prepare transfer documents.
N/B: Transfer can only be done after consent has been issued by the Lands Commission.
6. Valuation
This is usually for the stamp duty purposes where a
valuation is made to the government valuer who makes a site visit to the land
in question that will enable him/her to prepare a valuation report which
determines the amount of duty to be paid.
This step is used to determine whether the value declared will be raised or not.
7. Payment of stamp duty
The stamp duty is usually paid by the land buyer.
8. Registration of transfer
This is a step in which the land ownership is legally transferred from the seller to the buyer – now the new owner.
9. Exchange of documents
This is the very last step in the purchase of land procedure. Here, the buyer upon receipt of all documents from the seller will be required to pay the balance of the agreed amount for the land – through his/her lawyer that will finalize the whole process.
Baoriat Agencies is committed to helping you find the best place for you to settle in Eldoret town. We walk you through the entire process of acquiring your own property in Eldoret until it has been transferred into your hands.
Call 0721-554937
WhatsApp https://wa.me/0721-554937
Email evekibet@gmail.com or
Visit us at Juma Hajee Building room number 16, Eldoret town
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