Before committing yourself to an investment in real estate, it’s important to know if the developer is the owner of what they are selling you. When deciding to purchase an apartment, how sure are you that the land being built on belongs to the developer? Due diligence, as always, applies in this case.
The Ministry of Lands has made it easier to conduct land searches. As it is now a digitized process, it has become less technical to do so. What will you need to conduct the land search?
- An ecitizen account
- A KRA Pin
- The proof of land ownership/title deed
Now that you have all the requirements, how do you conduct a land search?
- Log into ecitizen. If you do not have an account, you will need to create one.
- Select the Ministry of Lands and Physical Planning option when you have logged in. You will then input your KRA Pin if you didn’t already when logging in.
- Select the land search option and input the title number. Fill in the details on the form provided afterwards, then submit.
- Select your preferred mode of payment. The fee to conduct the search is Ksh 500 and can be paid via M-Pesa, debit or credit card.
- When your payment is confirmed, you will have access to the results of the search. You can print the results of the search, but if not, you can access the information whenever you log in.
Due diligence comes in many forms, and if you believe that real estate is it for you, then there is no limit you won’t reach in securing your investment.
The land search works to improve your experience in dealing with the real estate industry. Here are some benefits of conducting a land search before investing:
- You know the previous owners of the land. This is important when making the transaction decision because if the owners on the document do not match the ones on the search, that is a red flag. If the developer does not own the land they are building on, that is a definite red flag.
- The search gives the exact geographical location and area of the land.
- You know the status of the land, and whether there are any pending payments or disputes before your purchase.
As you think about investing in real estate, take the extra step. Make sure your investment is as safe as you can make it. Remember Warren Buffett’s two rules of investment:
- Never lose your money
- Remember rule number 1
To get in touch with an investment consultant who can guide you on what other due diligence processes you can follow,