Land acquisition: Why a client needs to be supported to understand what happens at each stage
Land is a tangible investment and valuable asset that keeps increasing in value over time. But also land never expands despite the growing population, and because of this at times it becomes a target of wrong elements including fraudsters.
It’s against this background that any land transactions or investment demands for due diligence on whoever wants to invest in land. And one of the steps to guard against any opaque land transactions and dealings is to make sure a client is supported to understand what happens at each stage in the land acquisition process.
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That is why at Amity realtor our land acquisition process is to make you feel prepared and understand whatever happens at each stage until final settlement and acquisition of your land. At Amity realtors we make sure our professionals support you to navigate throughout this whole process of land acquisition.
A snapshot on our land acquisition process
We always advertise our land through different media (radio, TVs, newspapers) and social media platforms (WhatsApp, Facebook, Twitter, Instagram or even LinkedIn), word of mouth. Potential clients can walk into our offices on Kyosiga house, MarkahnSingh Street in Mbarara city or they can reach us by telephone call.
After settin an appointment, the potential clients will then walk in to our offices and be taken through the different types of land we have through television presentations.
Because we have different types of lands in different areas, the use of TV presentations helps us and the client to choose the preferred land and location before we move to the field for site visit and to make sure the land you are interested in suits your needs.
At this stage will be able to tell the choice of land he or she is interested in, his or her budget and the proximity from Mbarara city centre. After we go for site visits which are free, then if the client likes the land we come back to office to finalise the transaction and payment terms. If he/she doesn’t like it, we then look into other options and see what will best fit the client.
Our normal payment plan includes the cash down payment but we are also flexible and allow instalment payments. Our payment plan for those paying in instalments is always three months but we also have a unique package of Umoja Fund that goes up to a three years’ instalment, and here a client can get land from as low as Shs 3.5 million up to Shs 100 million.
After the payment schedule is agreed on then we go to the acquisition process, for cash payments we start a process of getting a land title and payment agreement. For payment agreement the agreement can be sealed there and then through involving authorities like LCs and family members but for a land title it’s a process but this process is also short that for example a transfer of title takes one week. But not though we can help a client in getting a title, there are fees paid that incurred stamp duty and this is paid to the government. For example, transferring a 50 by 100 goes for Shs 600,000 and 100 by 100 for Shs 1.2 million depending on the location.
For pieces of land or plots that have been subdivided under one title, this takes around 2-6 months and this is because it takes various steps because normally these lands are under different holdings like freehold and customary. Here a 50 by 100 goes Shs 1.5 million.
In all these processes Amity supports and assigns you with a professional staff to help you navigate through each stage and offer practical advice.
At Amity Realtors we also value our clients and we labour to keep in touch with them and always to offer other professional services that includes after sales services, consultations and property/land resale.
Summary of our land acquisition process
· Land markets/projects/property announcement
· Explanation of our land markets /projects/property
· Sharing interests
· Professional advice
· Field visits
· Payment plan
· Offer and agreement
· Possession and acquisition
· After sales services