Buying Land in Kenya from the Diaspora: A Comprehensive Guide

Buying Land in Kenya from the Diaspora: A Comprehensive Guide

Land ownership in  Kenya especially buying land  from abroad can be a complex process, but it is possible with careful planning and the help of a qualified professional.

This guide will walk you through the steps involved in buying land in Kenya from the diaspora, from finding the right property to registering the title deed in your name.

Land ownership in Kenya by contacting a reputable real estate company in Kenya

The first step in buying land in Kenya from abroad is to find a reputable real estate company to assist you with the process.

There are many real estate companies in Kenya, so it is important to do your research and choose a company that has a good reputation and experience working with diaspora clients.

When choosing a real estate company, be sure to ask about their experience working with diaspora clients, their fees, and the services they offer.

You should also ask for references from past clients.

Search for properties that meet your needs for land ownership 

Once you have chosen a real estate company, you can start searching for properties that meet your needs.

Your real estate company can provide you with a list of available properties, or you can search for properties online.

When searching for properties, be sure to consider your budget, the size and location of the property, and the type of property you are looking for.

You may also want to consider the amenities that are important to you, such as access to schools, hospitals, and shopping.

Conduct due diligence on the property

Once you have found a property that you are interested in, it is important to conduct due diligence on the property before making an offer.

This includes verifying the ownership of the property or

land,

checking for any liens or encumbrances on the property, and ensuring that the property is zoned for the use you intend.

You can conduct due diligence on the property yourself, or you can hire a lawyer to do it for you.

It is important to have a clear understanding of the property’s legal status before making an offer.

Make an offer on the property

Once you have completed your due diligence, you can make an offer on the property.

Your offer should include the purchase price, the closing date, and any other contingencies.

It is important to work with your real estate company to determine a fair offer price for the property.

You should also be prepared to negotiate the price with the seller.

Secure financing (if necessary)

If you are not paying for the property in cash, you will need to secure financing from a Kenyan bank or lending institution.

Your real estate company can help you connect with a lender that specializes in financing land purchases for diaspora clients.

The terms of your loan will depend on your creditworthiness and the value of the property.

Be sure to shop around for the best interest rates and terms before you apply for a loan.

 Sign the sale agreement

Once your offer has been accepted, you will need to sign a sale agreement with the seller.

The sale agreement will outline the terms of the sale, including the purchase price, the closing date, and any other contingencies.

It is important to have a lawyer review the sale agreement before you sign it.

The lawyer can make sure that the agreement is fair and protects your interests.

Pay the purchase price and closing costs

At closing, you will need to pay the purchase price of the property, as well as any closing costs. Closing costs can include transfer taxes, legal fees, and recording fees.

The amount of closing costs will vary depending on the value of the property and the location of the property.

Be sure to factor in the closing costs when budgeting for your land purchase.

Register the title deed in your name

Once you have paid the purchase price and closing costs, you will need to register the title deed in your name.

The title deed is the legal document that proves ownership of the property.

You can register the title deed yourself, or you can hire a lawyer to do it for you.

The process of registering the title deed can take several weeks or months.

Pay any applicable taxes

Once the title deed has been registered in your name, you will be responsible for paying any applicable taxes on the property.

These taxes may include property taxes and capital gains taxes.

You should consult with a tax advisor to determine what taxes you will be responsible for paying on your Kenyan property.

Bottom line

• Start planning early. The process of buying land in Kenya from abroad can take several months, so it is important to start planning early.

Do your research.

Be sure to do your research on the Kenyan property market before you start shopping for

properties.

• Work with a reputable real estate company likeBizyetu Enterprise