More women are investing in Land which is a very good thing. However, remember statistics show 8 out of 10 people get conned while buying land.
Here are the most common mistakes people make while buying Land in Kenya;
- Failing to secure a copy of the Original title deed from the seller. Remember this the way you will know the original owner of the Land, the acreage and whether the land is encumbered.
- Failing to conduct an official search at the Land registry. This is the best way to know the status of the land. However, most people skip this part.
- Failing to do a land visit of the land they intend to buy. I know you have heard stories of people who have bought land that is full of rocks or does not even exist.
- Failing to involve the right professionals in the land buying process.
- Failing to do the necessary research or conduct due diligence. Remember Leaseholds reverts back to the government after 99 years if it is not reapplied for by the original owner. Ensure you do your research to avoid buying Land that has reverted back to the government.
- Dealing with brokers instead of seeking out the actual land owners.
- Assuming that sellers from the village or remote arrears cannot be cons. There is a reason 8 out of 10 people buying Land in Kenya get conned.
- Paying the whole purchase price of the land from the beginning. There is a reason the law stipulates you pay 10%at the beginning then the rest in 90 days.
- Hurrying the land Buying process. Again there is the reason the law gives a completion period of 90 days.
- Failing to secure a spousal consent. A spousal consent is required both for obtaining a Land Control Board consent and transfer. So ensure the spouse is in agreement with the transaction from the beginning. This is for married sellers of course.