How You Can Be Easily Conned While Buying Property in Kenya/ How to Avoid It
Have you been conned when trying to invest in property in Kenya?
When investing in land, it is important to conduct due diligence to avoid being a victim of fraud.
There has been an increase in reported cases of fraud and scams in property ownership in Kenya.
However, there are common indicators of how you can easily fall victim of such cases.
Identifying some of the ways that can make you vulnerable equip you with the knowledge. It also helps you with information on how to avoid such cases.
Below are some of the ways in which you can easily fall victim
Lack of identification of the person selling land
To begin with, be careful of any person or company claiming to sell a property to you and they only introduce themselves with only a name.
Insist on identification preferably a staff identification card for an individual and a company name, office location, Company Website and Social Media Sites.
Inconsistent information could indicate fraud
Always compare information given to you. If you notice that word of mouth about a project does not match what is on the sites pull out of such a transaction.
Information on a company’s website, social media pages and property fliers should also be same.
Take caution so that you do not buy a non-existing property and end up conned.
Lack of official’s sites to do a background search
Background information is key when looking out for a property to purchase because it is a long term investment.
In most cases some people take advantage of long term investments to create frauds.
If you notice a seller does not have a website or a social media sites where you can verify their authenticity, or check out previous reviews from other customers, avoid buying from them.
Lack of property boundaries
Beacons are the common indicators of a property boundary as a result of subdivision.
A property without beacons can turn out to be a fraud.
Always avoid buying a plot or land without beacons and plot numbers.
Lack the willingness to take you to the property site
Avoid a property seller insists on you making payment and they are not willing to take you to site.
Take caution as you might end up losing all your hard earned money by purchasing a non-existing property.
Always buy from a company that allows you to view a property you are interested in investing.
Genuine real estate companies in Kenya, will always allow you to view the plots being sold in Kenya.
Lack of legal documents to prove land ownership
Anyone who is not willing to share with you the land ownership documents for a property you are interested in purchasing does may be fraudulent.
Be very keen or else you might end up losing your investment through very well planned property frauds.
Making payments to personal accounts
When purchasing property from an investment company avoid making payments to an individual’s account. This will help you avoid fraud cases.
Make payments using the company’s back accounts or Mpesa till Number.
Finally, always ensure you get receipts of payments.
Have you been a victim of conman ship previously? You can share your experience and educate others
How You Can Be Easily Conned While Buying Property in Kenya/ How to Avoid It
