WHAT TO KNOW BEFORE BUYING LAND IN KENYA.
‘Somewhere is a Place to be,’
1)IT IS IMPORTANT TO KNOW THE INTENDED USE OF THE LAND.
Is it for Agricultural,residential,commercial or for industrial purpose.In addition to that ,it is important to know the type of ownership you will have.There are two types of ownership,Freehold and Leasehold.
With freehold, you will own the property and land. With leasehold, you’ll own the property for a fixed period of time but not the land it is built on.
Having an idea of how the land is used ,it will enable you to know whether it is a good investment or not.
2) WHAT UTILITIES DOES THE LAND HAVE.
Utilities such as water and Electricity are crucial Aspect to look before buying a vacant land.
3)DOES THE LAND HAVE A ROAD ACCESS.
There should be a pathway or a road leading to the land in question.
4)DO A SITE VISIT
Do not pay for anything that you have not seen.
5) CARRY OUT A LAND SEARCH.
After seeing the Land ,carry out a land search.Ask for a copy of the Tittle from the seller to help you do the land search.The results of the Land search will tell you who owns the Land ,the size and if there are caveats associated with that plot of land.
6)ENSURE THE SELLER HAS A CONSENT.
The seller needs to show you that they have a permission to sell the land.
7)SIGN THE SALE AGREEMENT.
A sale agreement is a binding document drawn up by the sellers lawyer and presented to the buyer for approval.It protects both the seller and the buyer to ensure that each benefits from the sale.
All costs are in the Sale agreement.The sale agreement highlights the costs of the buyer and that of the seller.
8)LAND TRANSFER AND REGISTRATION.
Once you complete all the payments,the seller then prepares and signs the land transfer documents to the buyer.
The buyer then becomes the property owner.
This is very informative! Buyers should be aware of the processes and understand all hidden costs.
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