Anyone planning or buying or selling property in Nairobi needs to be aware of the legal documents required for purchase of property in Kenya. Sometimes the paperwork for buying a house privately looks a nightmare to many, this article is here to enlighten you.
These includes documents like:
1. Offer Letter or Reservation Form
This is a document expressing interest by a buyer to purchase a property.
It is a single page document that outlines the contractual terms and conditions for both the seller and buyer of land.
As a buyer, this is the first document you sign after selecting and booking a plot of land.
The main contents of the document are:
- The name of the vendor
- The name of the purchaser
- A witness to the transaction
- The property identification number (plot number)
- The preferred payment term, in most cases cash or installment
The vendor and the seller should each have a copy of this document. This eliminates the probability of two parties purchasing the same property.
Image 1; Offer Letter
Many kenyans also ask about what documents do solicitors need when buying a house in Nairobi; a sales agreement is necessary.
2. Sale agreement
This is the second document needed when purchasing land.
It is a legally binding document that spells out the obligation of each party to a purchasing contract. It binds the two parties involved . In that, the vendor sells the property and the buyer buys the property.
One is advised to sign this document after doing due diligence to ascertain that everything checks out. Due diligence in land involves attending a site visit to verify the location and the size of the property, doing a land search to confirm that the seller is indeed the owner of the property among other things.
The contents of this agreement include;
- Full names of both the seller and the buyer
- The description of the property under sale. This includes its physical location, size, plot number and its current condition, whether occupied or vacant
- The purchasing price of the land and how the payments are to be made
- Special conditions surrounding the property. This dictates who is to pay for other charges such as stamp duty, legal fees, and title transfer costs.
This document is important as it protects both parties involved in the process of purchasing land. If either the seller or the purchaser fails to meet the terms of this document, then the aggrieved party can take legal action to recover the damages caused.
To properly protect yourself, we advise that a sale agreement be filled in triplicate. One copy for the property vendor, a copy for the buyer, and the other for a lawyer who should oversee the transaction.
Image 2; Sale agreement
3. Title transfer document
Finally, after all the payments are made to the seller, you will need to sign a title transfer document. This document is used to transfer the ownership of the property from the vendor to the purchaser. Before submitting a transfer request to the Land Registry, the following documents needs to be attached:
- An approved consent of sale from the Lands Control Board
- Proof of having paid the Stamp duty
- Copies of identification documents
- KRA pin certificate of the buyer
- Two passport photos.
This document is the legal proof of land transfer. It can be used when tracing the history of the property in the Land Registry. The document is to be filled in triplicate: a copy at the Land Registry, a copy for the buyer, and the other for the seller.
Land transactions may look simple but are complex in their simplicity. There is more to them than just buying and selling. You may know what to do but fail on how to do it. We help you navigate the paperwork needed to buy a house without a realtor in Nairobi. We also help property buyers in kenya understand what documents should to receive after completion of cash transaction.
At www.haofinder.com we can help you navigate and sail through land transcations successfully.