Due diligence assists investors and businesses in understanding the nature of a transaction, the risks associated, and if the transaction fits into their portfolio.
Due diligence is essentially like undertaking “homework” on a possible acquisition and is critical to making informed investing judgments.
Kenyatta Road is one of the fastest growing satellite areas in Kiambu County and the Nairobi metropolis at large.
Located off Thika superhighway, the area is accessible via Thika Road, Eastern and Northern bypass.
Fanaka Real Estate advises you why it’s better to conduct due diligence before buying a plot in the area.
Fanaka is a certified real estate agency dealing in selling land in Ruiru, Kamakis, Juja Road, and Kenyatta Road.
It is important to authenticate the real estate firm, its agents, land ownership, and community policies on land investment to protect yourself from conmanship.
Therefore due diligence enables you to verify the ownership of the land and its title deed before drafting an agreement for sale.
Land search
Conduct an official search at the Land registry closest to where the land is sold. You can also conduct the search online via ArdhiSasa, the digital land’s system. A recently certified copy of the title deed will be needed both online or on a physical visit.
Search results will aid you to track registered land owners, underlying charges such as mortgages, loans, caveats, and other restrictions.
Then proceed to conduct a search at the County offices in Kiambu where you will be provided with key details such as whether or not land rates have been paid and are up to date and other county permissions/restrictions.
Verify Registered Persons
Verify the authenticity of the seller by verifying their national IDs at the land’s offices. Scammers defraud unsuspecting buyers by forging identity cards.
Verify utilities
You ought to visit various utilities to ensure whether the land attracts pending bills. From bank loans to land rates, lease rates, etc. Such incurred costs may hike land prices.
Verify boundaries
At the county surveyor’s office, a buyer will purchase a Deed Plan. This is a map that indicates the dimensions of the land being purchased.
A surveyor will then guide you on the boundaries, various measurements, and bearings. Boundaries are marked with beacons. Ensure the beacons have not been tampered with.
Land investment plan
Ensure the land is suitable for your development plan. For agriculture, is its arable, for commercial – do the county and community approve such development plans. Are there any strict procedures and restrictions laid out?
Seek legal representation
A lawyer experienced and licensed to handle land/property transactions and conveyancing will guide you through the purchase. He will also ensure all procedures are followed diligently as per the land laws.
Always buy land from a certified real estate company
It is hard to be scammed when buying land from a company as they already have done due diligence, covered all land costs, and processed the title for you. Fanaka offers real-time title deeds and handles land transfer processes on your behalf.
It also avails pin and registration certificates for both the company and its agents.
