GUIDELINES FOR PURCHASING A PIECE OF LAND (HELPFUL) 1. Identify the piece of land you want buy 2. Identify the real owner (insist on meeting the owner) 3. Verify the owner –Conduct both formal and informal search 4. Obtain a copy of ownership e.g copy of Title deed 5. Conduct a search at Ministry of Lands Registry 6. Agree on the price 7. Let the sellers lawyer send the sale agreement 8. Let your lawyer review the agreement 9. Pay the agreed percentage of the purchase price as you execute the agreement 10. Pay the agreement fee which is legally 1.25% of the purchase price subject to Ksh25,000 minimum 11. On completion obtain completion documents 12. Process the transfer to your name (Your own costs) 13. If on loan process consent to charge (Done by your lawyer at a cost of 1.25% of purchase price subject to 25,000 14. Obtain an official receipt for the payment NB budget for closing cost (stump duty payment, title registration at Land office, etc) approximately 10% of purchase Did you find this informative and helpful? LIKE and SHARE it so it reaches more of your friends.
Posted on: Mon, 27 Oct 2014 06:14:34 +0000
Trending Topics
Recently Viewed Topics
© 2015