Step by Step Guide on Land Ownership Process in Kenya
Are you tired of renting and would love to have your own home? Have you ever thought of having your own land then brushed off the idea since you don’t have the details on the process? Then you are in the right place.
Real estate is a diverse yet obscure area that we all try to navigate through but unfortunately, fall into costly mistakes due to lack of clear guidance. Below is the process of owning your own land in Kenya.
- Find a financer.
Whether you are the one funding yourself or your have another source of funding, you need to settle on whether you have the funds and also how much you want to spend on the process. This is the initial stage and is very crucial. They may include even banks.
- Finding an acclaimed real estate lawyer
This another crucial stage in the whole process. You need to find a lawyer who is well-known and has a good rating from his previous clients. Some of the key items you should look at while choosing a lawyer is whether he or she is a good communicator. This is because, they will be the ones doing negotiations on your behalf. The other thing is whether you get along with them. Most of the time, you will spend with your lawyer thus you should gey someone you like and you’re getting along with.
- Finding the plot of land that you want.
In this stage, you go out with your lawyer and try to identify the land that you want. Some of the questions you need to answer are, do you want the land in town or out of town? Should it be near the main road or interior?
This stage may take a month or two and should not be sped up since you need to find the plot that is of your heart’s desire.
- Do a search
After finding the plot of land that you want, you need to do a thorough search of the property. Ensure that the seller is the rightful owner of the property. Definitely you would not want to give your money to a cone man or even worse, land into big trouble. Ensure that the plot is as stated and that no public roads pass through it since when development will pop into the area, you will have to bring down your edifice without compensation.
- Start the negotiation.
In this stage, the lawyer you hired takes over and does the negotiation. This is why he or she needs to be a good communicator and to be well informed on real estate so as to arrive on a good pricing with the seller.
- The final stage is where you settle on the payment plan.
There are different modes of payment and this is where you as the buyer agree with the seller on how the payment is to be done and within what time frame. It may be through mortgage or even cash or though checks.
This are the six stages in the process of owning land. I like to call them 3Fs S-N-P. So, you can now go ahead and chase your dream. Whether it is intended for living on or even farming. Just follow the six steps and the dream will be actualized.