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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Baoriat Agencies
Call: +254 721-554-937
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.
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
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