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By Sarah Wahogo
After years of hard work and careful saving, you will finally feel ready to make a life-changing investment in land to secure your future.
For many, this is the most important financial decision they will ever make. However, with the increasing prevalence of land scams in Kenya, this dream can quickly become a nightmare for unsuspecting buyers.
To ensure that your hard-earned money doesn’t go to waste, it’s essential to approach the land acquisition process with caution and diligence. How can you avoid being scammed when purchasing land in Kenya?
Below are seven effective ways to safeguard yourself from potential land fraud.
This is what many refer to as doing your due diligence. This is on both the land and the company or agent selling the land. Before embarking on your land-buying journey, conduct extensive research on the area you’re interested in. Investigate property prices, current market trends, and development plans in the region.
Websites, real estate forums, and local real estate agents can provide valuable insights. Additionally, familiarize yourself with the types of land titles available, such as freehold and leasehold, to understand what you are purchasing.
Always verify the identity of the land seller or company selling land. Request to see their National ID or other identification documents, and ensure they match the name on the land title deed.
If the seller is a company, request the business registration documents to confirm its legitimacy. Do not engage with anonymous sellers or those who refuse to provide identification.
Registered companies like Username Investment Ltd have websites and are present on all social media platforms. Research all information online about the agents or companies to ensure you are not dealing with scammers. Today all information needed is online.
While real estate agents can be helpful, ensure that you are dealing with licensed and reputable agents. Research their credentials and read reviews or testimonials from past clients. Avoid agents who pressure you into making quick decisions or fail to provide clear information about the land.
A land search is an essential step in confirming the legitimacy of a property. Work with a lawyer who will visit the Ministry of Lands and Physical Planning or use their online platforms to conduct a land search.
This process will help you verify the land’s ownership, check for any encumbrances or disputes, and confirm that the land is not reserved for government projects or has been designated for other uses.
Are you interested in buying land and plots for sale in Kitengela that have had their due diligence done thoroughly and by professionals and do not have encumbrances? Worry no more, Username Investments has strategic properties for sale in Kenya with ready title deeds and affordable prices tailored just for you.
A land search will also help to verify the boundaries of the land. Before purchasing, physically inspect the land and verify its boundaries. Use the help of a surveyor to ensure that the land you intend to buy has well-verified boundaries. This step is critical to avoid disputes with neighbours over boundary lines.
The land acquisition process involves working with professionals such as lawyers, surveyors and valuers. Using professionals will save you both time and money and also ensure that you make the right investment choice.
Professionals can help identify potential red flags and ensure all transactions comply with the law, protecting your investment.
A lawyer will review all legal documents, assist in drafting the sale agreement, and guide you through the land transfer process. On the other hand, a qualified surveyor will conduct a land survey and ensure that the land you intend to buy matches the description in the title deed.
They say when the deal is too good, think twice. If a land offer seems too good to be true, it probably is. Always be cautious of sellers offering land at significantly lower prices than the market value or those who pressure you to make quick decisions. Scammers often create a sense of urgency to prevent buyers from conducting proper due diligence.
Take your time to assess the offer, and seek advice from professionals if needed. Always compare with what is being offered in the market. Do your due diligence.
To ensure a smooth and secure land purchase, always document every agreement in writing. This includes the sale agreement, payment receipts, and any other relevant correspondence, such as emails or letters.
These documents act as legal proof of your transaction, protecting your rights as a buyer and providing evidence in case of any future disputes or misunderstandings. Keeping a well-organized record of all documentation is crucial for safeguarding your investment.
The last and essential way to avoid finding yourself in a land fraud is to trust your instincts. If something feels off in the land acquisition process then most probably it is. A legitimate agent or company will have no problem with allowing you to do your due diligence process uninterrupted. It is better to take your time and do all the research needed than losing your hard-earned investment money to fraud.
While buying land in Kenya can be a fulfilling experience, it’s essential to remain vigilant and informed to avoid scams. By conducting thorough research, verifying sellers, engaging professionals, and trusting your instincts, you can protect yourself from fraudulent schemes and make a sound investment in your future.
Remember, taking the time to ensure due diligence now will save you from potential heartache and financial loss down the road.
The writer is the CEO of Username Investment Ltd.
Financial Fortune is a digital financial news website and print business magazine published in Nairobi by Fortune & Transit Publishers Ltd and covers the financial services sector through news, views and extensive people coverage since 2018.
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