24-08-2021 by redazione
Buying land in Kenya is still very affordable and most importantly, unlike in other countries, it is a safe investment that is as little dependent on the political or national security situation as in the past.
The parameters for assessing the growth of developing countries like Kenya have changed in recent years and the pandemic has confirmed that investing in property is worthwhile.
If anything, the precautions relate to the steps needed to ensure that you are not cheated, especially in this day and age when title records are moving from paper to digital archives.
Here is a brief practical guide to buying land in Kenya.
1. If you are looking to acquire land, the first thing to do is to conduct a survey to ensure that there is a title and that the title is original and in order.
2. Once you have ascertained that there is a valid title, you need to make sure that the boundaries, square footage and other conditions defining it are real, on paper and in kind. This can be done by contacting the Land Registry at the relevant county office. To speed up the search for documents confirming that the land for sale is indeed the land, it is necessary to present yourself (or delegate someone you trust, of course) with a copy of the title provided by the seller. It is advisable to carry out this search or at least present the results to a law firm or notary who can guarantee the validity of the same at the land and companies register.
3. Once the findings meet all the requirements, it will be the notary's task to prepare a letter of intent or a first formal offer from the buyer to the seller, with the seller's acceptance of the description of the property offered, to agree on the purchase price and the terms of payment.
4. If the buyer and seller agree, the final contract must contain the terms and conditions to be accepted, including the deposit, if any, and its due date. Usually the contract is drafted by the seller's lawyers and submitted to the buyer's lawyers for approval. The same applies to any deposit to be paid.
5. Immediately after payment of the deposit, the buyer must pay property taxes to the relevant municipality or county before completing the transaction.
6. In order for the transfer of documents to become effective, the documents must be signed with the consent of the Land Commissioner.
7. At this point the land will be reassessed for stamp duty purposes. An application for valuation must be made to a Government valuer. The officer will visit the property and prepare the report. The valuation will then be issued, which will determine the true value of the land for tax purposes.
8. Once the buyer has paid the land tax, the online registration process will be activated and the land will be ready to be legally owned by the new owner.
9. At this point, after receiving the complete original documents from the seller, the buyer must pay the entire balance of the agreed price for the property. The payment will be made through the law firms to finalise the registration.
10. Once the transaction is operational, the seller no longer has any rights to the property, which will belong to the buyer.
A new land acquisition by the Ministry of Transport, the purchase of other 22.4 hectares of land to ensure the expansion of the airport in Malindi International.
Mayungu will be the next frontier of coastal tourism. The fishermen's village between Malindi and Watamu is evolving, among the latest land and property sales (even Nairobi's prominent figures have purchased plots or existing homes) and the resolution of many...
by Ambasciata d'Italia in Kenya
We inform you that, in light of the progressive suspension of all air connections from Kenya to Italy, this Embassy...
Up to five years in prison plus financial penalties for those who do not finish construction of ...
by Freddie del Curatolo
An additional obstacle to the expansion of Malindi International Airport and the construction of the track to accommodate boeing from Europe and any other aircraft from abroad: 25 thousand homeowners and landowners have, through a lawyer, long time Presented to...