This archive report was first published on 24 August 2020.
With over three million Kenyans living in the diaspora, many are looking to invest in property back home. However, buying land from afar can be a daunting task. In this article, we will guide you through the simple steps to buy land safely from the diaspora.
Published on August 24, 2020, the article highlights the importance of doing proper due diligence when buying land from the diaspora. This includes considering the location of the land, the entity selling the land, and the availability of proper documentation.
According to the article, dormitory counties around Nairobi, such as Kajiado, Kiambu, and Machakos, are some of the best places to invest in real estate. In Machakos County, satellite towns along Kangundo Road, including Kamulu, Joska, Malaa, and Komarock, are some of the fastest-growing residential and commercial hubs within the Metropolis.
Where to Buy Land ¶
When buying land from the diaspora, it is essential to identify the right entities to acquire the land from. One of the leading real estate players within Nairobi Metropolis is Fanaka Real Estate, which offers a wide range of properties for sale.
Many investors have been conned or duped in land dealings due to a lack of proper due diligence. To avoid this, it is recommended to buy from an incorporated company that specializes in the selling of land. This is because it is easier to conduct a company search to identify the proprietors of the company, its location, and when it was established.
How to Identify a Reputable Real Estate Company ¶
A good real estate firm should have a well-established online presence, including a nice and detailed website and active social media profiles. Social media pages and a well-managed website are nice ways to directly get in touch with a land vendor without having to go through third parties.
Before committing to pay for a property, it is essential to have a physical site visit. This can be done by sending a representative from the diaspora. Most real estate companies offer free site visits to the property to confirm the actual sizes of the land and amenities.
4 Simple Steps to Buy Land Safely from the Diaspora ¶
- Online visibility: A good real estate firm should have a well-established online presence, including a nice and detailed website and active social media profiles.
- Physical site visits: Before committing to pay for a property, it is essential to have a physical site visit. This can be done by sending a representative from the diaspora.
- Online land search: The next step is performing a land search of the title deed to establish who actually owns the land, its size, and whether or not the land is charged or used as collateral for a loan.
- Sale agreement: Once the search is done and you are satisfied, you can now contact the company to make the purchase. At this point, you will have to execute a sale agreement, a binding contract that indicates the terms, conditions, and payment method that has been agreed upon.
