During the process of acquiring the real estate property, that is buying land, most people have found themselves missing out on the small but very key details that they should have focused more on, hence making wrong or botched investments, including investing in non-existent property.
Some people have found themselves buying property from people who are not real owners because they ignored reading the documents presented to them. These are all mistakes that are avoidable if only one can choose to do due diligence.
Doing due diligence involves you confirming the authenticity of every fact presented to you regarding the piece of land you are looking to buy. This is include;
- confirming the person selling is the real owner,
- if the land is in the exact location as said in the maps
- if there are any cautions placed on the land, or unsettled land rates that might become a problem for you in future, among others.
This basically getting to know more about the property you want to buy, before you actually buy it.
In Kenya for instance, there are loads of cases lying in the courts involving land and this happened just because someone decided to trust people to do things of his behalf or just ignoring everything because they thought they knew the seller of the land.
Others have bought non-existent land because of this and once the money is gone, you can as well just forget about it because tracing some of these people becomes an extreme sport.
So before you decide to trust, or even when you trust them, do some background research on the company or person selling the land to you.
It is important to do due diligence because it will save you money, it will save you time, and savings if it is what you intended to use to purchase land.
So, as soon as you settle on a piece of land, due diligence should be your next move!