Top 10 Most Important Questions to Ask When Buying Land in Kenya.
op 10 Most Important Questions to Ask When Buying Land in Kenya.
Buying land in Kenya is something that most Kenyans look forward to doing, but there are some important questions you need to ask yourself before you buy any land. Investing in land is a major step that one needs to make so you should ask before buying a piece of land in Kenya. Below are some of the most important questions you need to ask.
1. How will you access the Land?
Many buyers always assume that the Land sellers have clearly set out roads to access their property but you might be wrong. What you need to do is to enquire about the site maps and have a good look at them, and pay attention to the demarcated roads and the other plots of land around you. Ensure you trace the roads leading to your property and know whether they are convenient and usable even during the rainy seasons.
2. Is the title deed freehold or on the Lease?
It is of great importance to inquire whether the title is freehold or on lease. If it is on lease then the company should be in a position to issue you with the certificate of a lease. If it is freehold then a title deed should be issued.
3. What is the payment mode?
Payment modes always depend on the agreement because payments can be made in cash or in installments as per the agreement signed by the buyer and the seller. Either way, the seller will demand some money. And when the initial payment will be done, the title deed and other legal documents should be in the custody of the lawyers.
4. What is the next step after finishing all the payments?
After the buyer has paid the full amount, the buyer will sign the land transfer forms including the passport photos, KRA pin, a copy of the sale agreement, and old title deeds. All these documents should be presented to the land registries to change ownership. And if you buy land from a well-established company, then the company is responsible for acquiring title deeds for their customers.
5. What is the size of the plot? Can it be measured?
As a buyer, you have to ensure you have the map and the site visit should be done by the surveyors and the buyers as well. Ensure you carry a tape measure that you will use in confirming the dimensions of the land from the map drawn to scale. Ensure the boundaries of the land are defined using clear and visible beacons.
6. Do you have the site map?
As a land buyer, always ensure you ask for the map of the property you are purchasing. In the right circumstances, the company you are buying from should carry out a survey and issue two maps one drawn to scale and the other one should show the neighboring farms.
7. How do I protect your [buyer] interests when purchasing the land?
The company you are buying from will provide the sales agreement and the agreement should be between the vendor and the buyer. This will secure your interest when purchasing the land as well as details regarding the payments, legal matters and timelines should be included. According to the law, any land transactions should be in writing even when a lawyer is not involved, it is advisable to have one.
8. Who pays the stamp duty? And when is it done?
The stamp duty is always paid by the buyer after he\ she has finished paying the full amount. The stamp fee is always 2% of the value of the land. However, many companies donâ€™t charge the stamp duty fee as it is inclusive of the purchase price.
9. How long will it take to acquire the title deed?
On timing, this will depend on the registry your title deed is being processed in. Some registries tend to prolong the period to 9 months while others may be in a good position to deliver in 1 or 2 months. The timeline will vary in the sale agreement between the purchaser and the vendor.
10. How will I know that the title deed is genuinely under my name after I acquire it?
To know if the name in the title deed is genuinely yours as a buyer or a purchaser, you need to do another search with the land registries to confirm that the land now reads your details.
Land transactions may look simple but they are very complex in their simplicity. There is more pertaining to buying and selling of land which you may know, but fail to know how to do. Kindly consider working with people with experience and great companies such as premieragent.co.ke.