#buyinglandinKenya? Please follow the steps below if you are intending to buy a plot or a large parcel of land from an individual or a company.
1. Request a copy of the title deed. Then search for the Ministry of Lands to determine who the actual owners are or if the title contains any caveats. The search will set you back Ksh 520.
2. Check with local authorities to see if there are any unpaid land taxes. Agree with the seller on who will settle the land taxes, if any. Note If there are any outstanding land taxes, the land cannot be transferred.
3. Go to the Ministry of Land and purchase two maps: one showing the exact measurements of the piece you are buying, called a “mutation,” and the other showing the surrounding lands. Each map is worth Ksh 350.
4. Using the two maps and a surveyor (you can do it yourself, but it’s best to hire one), go to the land you’re interested in and double-check the information on the map. Examine all of the beacons.
5. Meet with the seller and haggle over the price. Make a written agreement. The contract Should be signed in the presence of a lawyer. If the value of the land is less than KSh 1 million, the lawyer should be paid KSh 3,000, according to LSK guidelines. If the value is greater than KSh 1 million, the lawyer should be paid KSh 8,000 for the agreement.
Note These are the minimum amounts, and charging less will be considered undercharging by legal professionals. As a result, depending on the circumstances, this figure could be higher.
6. Pay a down payment on the land under the agreement discussed in (5. above). Avoid the temptation to pay the full amount/value of the land (even if you have a lot of money).
7. Make an appointment with the Lands Control Board (LCB). They get together once a month. It will set you back KSh 1,000. The LCB will grant permission for the sale of the land.
8. After receiving LCB approval, pay the remaining balance on the land’s value.
9. To change ownership, go to the ministry of land offices with your Kenya Revenue Authority Personal Identification Number (KRA PIN), two passport photos, and a copy of the Title Deed. It will set you back KSh 5,000.
10. Pay stamp duty based on the value of the land (you don’t need the seller at this point). The following rates are in effect:
a) 4% of the total sales value in municipalities;
b) 2% of the total sales value in reserves
11. The land is now yours. However, before you celebrate, go to the Ministry of Lands and search to see if they have updated their records and if your name is listed.
Looking to purchase Land in Kenya Axis Assets will be glad to walk with you through your journey.
Talk to us today at info@axisassets.co.ke.
