22/08/2022
Land verification/ due diligence
Due diligence is essential to ensure that the property you’re buying actually exists, safe to buy and will suits your purchase intentions. It protects you and your family from scams. It Involves conducting physical inspection on the property and asking the necessary questions. Those living abroad can send someone to verify the property on their behalf but don’t buy a property that you have not seen or at least sent someone to conduct a site visit. Do not compromise on site visit.
What to look out for when you get to the property- property location, amenities, road network, value addition, developments, neighborhood, type of soil, land scape/terrain etc.
Meet the owner in person or proxy. Questions to ask- size of the property, identification and pointing of beacons, how the owner obtained ownership, is the property owned by a group of people/company/individual, jointly owned or tenants in common, nature of interest, any encumbrances such as charge, is the property subject to litigation, copy of the title.
If impressed with the land and you have obtained a copy of the title, you can now conduct a land search in the relevant registry through your lawyer. The search will confirm details of the registered owner, acreage, encumbrances if any. Also confirm that the property has no outstanding land rates and land rent arrears.
It’s also important to investigate from the community on the land you are interested in buying so that you don’t find yourself buying a property with dispute, court case and some people are also notorious of selling property to more than one person. There also other crooks who may sell to you and refuse to give you your title document or peaceful possession.
It is important to engage the services of a lawyer who is conversant with land matters. The lawyer may also work together with a land surveyor to determine the exact land location and acreage or size. Do not proceed without their go ahead. No matter how
