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How to Ensure You Follow Due Diligence When Buying Land

 

Land is today the most sought-after asset in Kenya. There are tens of hundreds of people looking for land to buy, just as there are hundreds of companies involved in the purchase and sale of land.

With a huge demand in the land industry, there is always a danger of getting conned – and this is why due diligence must be followed when buying that dream piece of land – be it from an individual or a company.

So what is due diligence and what does it involve?

Due diligence is basically getting to know the facts about the land you want to buy like ownership, size among all other paperwork involved – making sure they are in order.

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If you follow due diligence in land matters, it is easier to identify conmen or things that would help you avoid getting into deals that might turn our problematic later on.

Here is a list of things that you need to do – before making the final payment for that land deal;

Land Scouting’

This is the very first stage of buying land where you go round areas you would like to own a piece of land or scan through pieces of land posted on social media that are up for sale.

When scouting for land, be on high alert – anyone can pose as a landowner, yet he/she is not.

While making physical scouting of the land, do random interviews with neighbours – this will help establish the history of the land being sold as neighbours and local government officials like chiefs know who real owners of the land are.

Get a lawyer

Just like many other transactions, the purchase of land has legal procedures that will require a lawyer to guide you through them.

Having a lawyer that understands matters involving property transactions will help ensure all the paper works are in order and in accordance to Kenyan laws governing land purchase.

Land search

This is arguably the most important thing that you must do. With land search, you get to know the real owner of the piece of land you’re about to buy, whether the land was used to take a loan that is yet to be repaid fully among others.

You can do a land search at the Ministry of Lands offices or online – via the eCitizen platform.

Payment terms

Your lawyer is best placed to guide you on terms with the seller, in regards to payment mode. It is however advised that you pay at least 10% for a deposit for the purchase of land – but the less you can pay the better so as to reduce the risk – in case of any issues that might arise and stop the process.

For purchase of land from cooperate/company what should one do?

For this case, get the registration certificate for the company/cooperate as proof that it exists.

Ask for a pin certificate to confirm the authenticity of the company  as well as the original copy of the title deed and a certified copy of the land documents from that company or corporate.

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.


To learn more about buying a property in Eldoret, 

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 

Follow our Facebook Page Boariat Agencies for the latest deals.

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