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Acquisition Of Investment Plots .....Buy From Or Involve the Experts
young
#1 Posted : Monday, March 21, 2011 7:08:17 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,044
Location: Lagos, Nigeria
To avoid problems in future before you commit spend a little more by involving property lawyers to conduct due diligence
OR
Buy from reputable real estate companies or investment clubs.

It is better to spend a little more to have peace of mind in future than to take unnecessary risk and regret thereafter. A question of penny wise pound foolish.

Every area have a prevailing going price, do not be attracted by a cheap plot relative to the average price in your chosen neighbourhood.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
GITHUKUSM
#2 Posted : Thursday, March 24, 2011 1:32:25 AM
Rank: Member


Joined: 12/21/2007
Posts: 84
Young this is damn true.But also be careful and especially with con-men who normally have fake papers which in appearance resemble real titles.
I have seen situation where lawyers transacted the fake papers without realizing.
Be cautious and take your time.Don't jump in full; unless you are very sure pay in bits.Conmen will more than often ask you to pay full amount and always in a hurry.The good thing about investment clubs is that by the time you buy from them they have tested the waters and the property more than often will be safe.I normally buy from a group of teachers and i have introduced some members from wazua and have acquired.If interested you can reach me on githukusm@yahoo.com.They have nice plots along the Ruiru eastern bypass.
All the same investment hunting of whichever nature is never completely risk free after all the greatest risk is to risk nothing.
Ndaragwa
#3 Posted : Thursday, March 24, 2011 3:24:12 AM
Rank: Member


Joined: 3/12/2011
Posts: 108
young wrote:
To avoid problems in future before you commit spend a little more by involving property lawyers to conduct due diligence
OR
Buy from reputable real estate companies or investment clubs.

It is better to spend a little more to have peace of mind in future than to take unnecessary risk and regret thereafter. A question of penny wise pound foolish.

Every area have a prevailing going price, do not be attracted by a cheap plot relative to the average price in your chosen neighbourhood.


Using reputable lawyers to do the land transaction is an excellent precaution. You pay for the legal service but it is truly worth it. You get peace of mind. Also, when you get your new title deed, it is important to do an official title search to confirm/ascertain that you are the true registered owner of the land. Good luck buying that land - wherever it is since I believe lime most of you that a property bubble is not there in foreseeable future.
Burning Spear
#4 Posted : Thursday, March 24, 2011 9:45:57 AM
Rank: Veteran


Joined: 7/22/2008
Posts: 1,139
young wrote:
To avoid problems in future before you commit spend a little more by involving property lawyers to conduct due diligence
OR
Buy from reputable real estate companies or investment clubs.

It is better to spend a little more to have peace of mind in future than to take unnecessary risk and regret thereafter. A question of penny wise pound foolish.

Every area have a prevailing going price, do not be attracted by a cheap plot relative to the average price in your chosen neighbourhood.



you said bro !!

It would be ignorance to commit your hard earned cash without legal backing.The lawyers ask for small percentage and which is worth the stress you may have should you be conned
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
QD
#5 Posted : Thursday, March 24, 2011 11:06:42 AM
Rank: Member


Joined: 8/5/2009
Posts: 597
The cornmanship in Kenya has gone high-tech peolpe selling land vide power of attoney, hence better do the proper groundwork before committing the hard earned molas.

What would be the current going price of 10acres land around Malili?
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
gadj
#6 Posted : Thursday, March 24, 2011 11:57:42 AM
Rank: Member


Joined: 4/16/2009
Posts: 257
After all this speech can one come up with a list of reputable companies who do sell land in Kenya.
bwenyenye
#7 Posted : Thursday, March 24, 2011 12:17:53 PM
Rank: Elder


Joined: 5/24/2007
Posts: 1,805
Guys,

Someone is getting me to buy some land whose title he claims has gone for subdivision. The search docs give a name of someone he says is the one who sold to him. I told him that I cannot give my cash for something you have no ownership! The guy has since gone quiet! I find this intriguing! Is this how guys are buying land nowadays?
I Think Therefore I Am
young
#8 Posted : Thursday, March 24, 2011 1:46:47 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,044
Location: Lagos, Nigeria
QD wrote:
The cornmanship in Kenya has gone high-tech peolpe selling land vide power of attoney, hence better do the proper groundwork before committing the hard earned molas.

What would be the current going price of 10acres land around Malili?


The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
young
#9 Posted : Thursday, March 24, 2011 2:04:32 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,044
Location: Lagos, Nigeria
gadj wrote:
After all this speech can one come up with a list of reputable companies who do sell land in Kenya.



know about Westlands based Hassconsult, several Kenyan friends have made property deals with them without any problem.

www.hassconsult.co.ke

I am sure there are several other reputable real estate firms and investment clubs


For example there was 1/8 acre titled investment Isinya plot my friend bought from them for Ksh 150K(excl agency/legal fees) in 2006, the location is now prime , the current going price is circa 650K - 750k
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
duky
#10 Posted : Thursday, March 24, 2011 6:41:48 PM
Rank: Member


Joined: 2/21/2007
Posts: 72
It's always important to ensure you buy plots that have titles so that you can verify with the government (through lands registry) that the seller is the real owner of the land through search and/or purchase of green card for a better understanding of ownership history. Remember the certificates that sellers (individuals, groups or companies)give are self-designed and not legal documents. I've seen cases where con men give certificates then use the mother title as collateral for loans that they fail to pay and the land is auctioned.

If in doubt of the original title, always get the sellers original ID that you can check genuineness via banks. If the seller is not willing to avail the ID, dismiss the deal.
Ka-Dry
#11 Posted : Thursday, March 24, 2011 7:04:59 PM
Rank: New-farer


Joined: 3/15/2011
Posts: 33
Location: Nairobi
bwenyenye wrote:
Guys,

Someone is getting me to buy some land whose title he claims has gone for subdivision. The search docs give a name of someone he says is the one who sold to him. I told him that I cannot give my cash for something you have no ownership! The guy has since gone quiet! I find this intriguing! Is this how guys are buying land nowadays?


Don't touch such... been involved in a similar transaction in Juja...which has become difficult to ascertain the real owner
young
#12 Posted : Thursday, March 24, 2011 10:58:20 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,044
Location: Lagos, Nigeria
bwenyenye wrote:
Guys,

Someone is getting me to buy some land whose title he claims has gone for subdivision. The search docs give a name of someone he says is the one who sold to him. I told him that I cannot give my cash for something you have no ownership! The guy has since gone quiet! I find this intriguing! Is this how guys are buying land nowadays?



Simple due diligence on the documtation dictates that you can not pay for a plot that does not belong to the person offering it for sale.
Don't ever be hasty about buying land and you have to make all assurances doubly sure in conjuction with experts.

Better miss that chance and pay a little higher for a clean genuine plot.

A genuine seller is not always in a hurry, it is mostly the con men that want to rush you, Plot purchase is a process but the bottom line is that due process must be followed.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
Ka-Dry
#13 Posted : Friday, March 25, 2011 6:55:31 PM
Rank: New-farer


Joined: 3/15/2011
Posts: 33
Location: Nairobi
Land buying for Dummies

1. Involve your own lawyer. Don't use the seller's lawyer to save
2. The lawyer will an OFFICIAL SEARCH to ascertain ownership
3. Your lawyer will draw an agreement
4. Pay a deposit (10-30%) on signing the agreement
5. Get the consent LAND CONTROL BOARD (depending on area)
6. Your lawyer will process the transfer document.
7. Once 6 is done, you can pay the balance depending on the agreement.
8. Apply for your own TITLE DEED
8. Have fan, you are now a proud owner of a piece of land
slykat
#14 Posted : Friday, March 25, 2011 7:12:56 PM
Rank: Member


Joined: 2/20/2007
Posts: 359
If u can get one with a title or u got a choice, avoid untitled plots, allotment letters and land share certificates, even if u gotta pay more... these r replete with mines that even lawyers may not find during a search.
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