16/02/2023
TEN THINGS TO KNOW BEFORE BUYING LAND IN KENYA.
1. When buying land make sure that you visit the parcel of land you intend to buy. This will help in ascertaining the state of the land. You may find that the land is occupied by squatters or it is in a swamp.
2. Engage a qualified surveyor. The surveyor will pinpoint to you the boundaries of the parcel of land you intend to buy and also ascertain the acreage of the parcel.
3. Engage a qualified lawyer to do due diligence and ascertain the veracity of the title document. The lawyer will do a postal search to ascertain ownership and also if there are any encumbrances.
4. After the lawyer has done due diligence you should negotiate the purchase price and then enter into an agreement. It is advisable to pay 10% of the purchase price at the signing of the agreement.
5. It is prudent to insist that you be allowed to fence the parcel of land after paying the deposit. This should be a term of the agreement. That way you will know if there is any dispute when fencing.
6. Ensure that the vendor pays for land rates (insist on receipts) and gets Land control board Consents where necessary.
7. Ensure that the vendor pays for capital gains tax or gets an exemption.
8. Pay for stamp duty and registration fees to have the land transferred in your name.
9. Your advocate or the vendor’s Lawyer should be holding the balance of the purchase price and only release it to the vendor upon successful registration.
10. Develop your parcel of land as soon as possible to avoid land grabbers who target bare parcels of land.
