7 Things to be careful about when buying land or plots
7 THINGS TO BE CAREFUL ABOUT WHEN BUYING LAND OR PLOTS
We have written this article to inform and educate our clients in Nanyuki and other areas who plan to buy land or plots
- A day never passes without reports that somebody has been conned while buying property, yet this should be one of the most fool-proof processes. One must be thoroughly informed about when to know when to run for the hills and when to sign on the dotted line. One must look beyond what you see” and “examine what is not obvious”.
- Many people have lost money by buying land and then discovering that it could not be developed. If the property’s zoning will not permit the land’s highest and best use, it’s not a good buy. In order to be resold at a profit, the land must be able to be developed. Lack of utilities like water, electricity, a good sewerage system, communication lines and signal boosters is a huge negative for anyone wanting to build. Required building setbacks could make a narrow plot worthless.
“We are oriented on providing prime plots to our clients, we have plots meeting all necessities for your day to day life.”
- While the process of buying land seems foolproof and straightforward, it is important to realize that fraudsters are always prowling for gullible buyers to con. “For instance, when they realize that Person X owns land in South C, they will make fake Identity Cards with Person X’s name and photograph. When the buyer asks for the ID, they will gladly give you the fake ID and the search results will come out with the name of the rightful owner.
“We as Olive Limited we provide our client with duly certified copy of registered mutation and Directors identity card for purposes of conducting an official search on plots before proceeding and buying any plot.”
- In most cases, fraudsters will insist that the buyer pays in cash. A smart lawyer will insist that the payment be through a banker’s cheque that is traceable, or through an electronic funds transfer.
“For us, we provide the client with our bank account for depositing purposes thus providing him or her with reference evidence for the payments done.”
- You are highly advised to desist from purchasing land without a title deed. You can buy land that has a lease and not a title deed, as most plots within town are A lease can expire after 30 or 99 years depending on the arrangement. While a lease is renewable at the Ministry of Lands, a title deed shows absolute ownership.
- Ensure by the time you make the initial payment the title deed and other legal documents are in the custody of the lawyer. A scrupulous seller may take a bank loan a day after you did the search and used the title deed as a security.
- Sometimes, sorry to say, it’s a conspiracy between husband and wife (The husband tells the wife …when we go to LCB refuse the land to be sold) Here is where most land cases are. That’s why it is important to have the spouse present when doing the agreement.