Just like any real estate investment, buying land in Kenya is a significant and difficult choice. To begin with, there are several benefits to purchasing a piece of property. A house is often purchased to be lived in, but with land, you have the option of building your own home, using the property as a long-term investment, or even launching a company.
Property also raises a number of difficulties that are not often present when purchasing a home. A vacant land may be subject to a variety of limitations, some of which may prevent you from building a home there at all. In this article, we will share the tips and 12 important Rules before Buying Land In Kenya.
If you are buying land from an individual or group please follow the following STEPS to avoid being CONNED:
1 . Ask to see the TITLE DEED or Copy of the title deed. Then do a search at the ministry of lands to confirm who the real owners are or if the title has any CAVEAT on it, The search will cost you Sh 520.
2. Do a search with LOCAL AUTHORITIES to check of any unpaid land rates. If any, agree with the seller who will settle the land rates. NB :LAND can’t be transferred if they are unpaid land rates.
3. Go to the ministry of lands and buy 2 Maps, one showing the exact measurements of the piece you are buying called (mutation) and the other showing the neighbouring lands, Each costs Sh 350.
4. With your 2 maps and a surveyor (you can do it yourself) visit the land you are buying and verify the details on the MAP. Check out all the beacons.
5. Sit down with your seller and bargain the price. Write down an agreement. The agreement can be done in the presence of a lawyer. According to LSK if the value of the land is below 1 million you pay the lawyer 30K, if it’s above 1 million you pay the lawyer 80K for the agreement.
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6. Pay some amount as per your agreement, Don’t pay everything Hata kama pesa uko nayo.
7. Book a meeting with lands control board (LCB) They meet once every month. It will cost you Sh 1000.
LCB will issue consent for the land to be sold.
8. pay the remaining balance after getting consent from LCB.
9. Go to ministry of lands offices with your KRA PIN, 2 passport photos and a copy of the TITLE DEED to change ownership. It will cost you Sh 5000.
10. At this stage you don’t need the seller. Now go pay stamp duty, ie according to the VALUE of the land.
4% of sales value in municipalities & 2%of sales value in reserves.
11. Now the land belongs to you, but before celebrating go to ministry of lands &do a search to confirm if they have updated their RECORDS and it reads your names.