Real estate is one of the booming industries in Kenya today, and for this reasons, you are likely to encounter fraudsters on regular occasions - when looking for land or property to buy.
I'm sure you have heard people complaining that they bought a property or land from an individual/company that does not exist or two people claiming to have bought the same parcel of land.
These issues are real, and if you are not careful, you might end up being among the victims of fraudsters.
Data from the 2016 report of Kenya National Bureau of Statistics indicated that there were over 6,000 land fraud cases in the country, and there is a likelihood that that figure has doubled or even tripled.
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Baoriat Agencies
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So, how can you safely acquire property in Kenya? Is there a way you can avoid fraudsters when buying land or property? These tips should be helpful;
NEVER MAKE PAYMENTS
DIRECTLY TO LANDOWNER/AGENTS
Rather than making payments directly to the vendor or agent selling the property, it is advisable that you make the payments through an advocate - who will safeguard your money and ensure you get value for it.
DUE DILIGENCE
People get conned basically for not conducting due diligence when buying property. Doing due diligence simply means doing a search on the property in question - which will reveal its location, real owner, and history of ownership, and property ownership clearance.
Get the services of a lawyer to help you review the documents and also review the credibility of the company/agent selling the property.
PHYSICAL VISIT
Always make a physical visit to the site of the property on sale. This helps a lot, especially, in weeding out a fraudster who might be out to sell a property/piece of land that does not exist.
LAND RATES PAYMENTS
Ensure the land owner has paid, in full, any due land rates or else you will start off on the wrong side of the law with the government, if you end up buying a property whose rates' payment are not up to date.
KNOW TRANSACTION COSTS INVOLVED
Always spare time to find out all the transaction costs that will be involved in the purchase of the property in question.
INVOLVE PROFESSIONALS
As a land buyer, you may not be in a position to know everything, and this is why you need to engage professionals in the whole process - from surveyors, valuers, lawyers, engineers, and architects.
If you're buying an already build house, engineers will be key in inspecting it to see if there are any defects that might in future force you to incur unnecessary costs.
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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