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buying land at an auction
vky
#1 Posted : Monday, March 05, 2012 2:57:37 PM
Rank: Member


Joined: 6/17/2010
Posts: 572
I am considering buying land at an auction taking place in a few weeks. any wazuan who has done this before kindly share your experience(s)
'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
Pablo
#2 Posted : Monday, March 05, 2012 3:20:51 PM
Rank: Member


Joined: 3/17/2008
Posts: 567
Location: Nairobi
Nunua.

Just take some caution if its a rural area. You may never settle there in peace.
Rahatupu
#3 Posted : Monday, March 05, 2012 3:59:48 PM
Rank: Veteran


Joined: 12/4/2009
Posts: 1,982
Location: matano manne
vky wrote:
I am considering buying land at an auction taking place in a few weeks. any wazuan who has done this before kindly share your experience(s)



Run boy/gal run.
itz
#4 Posted : Monday, March 05, 2012 4:13:25 PM
Rank: Member


Joined: 3/20/2009
Posts: 348
Rahatupu wrote:
vky wrote:
I am considering buying land at an auction taking place in a few weeks. any wazuan who has done this before kindly share your experience(s)



Run boy/gal run.


@Rahatupu.i am curious to know why you say run.have you had a bad experience ama
Magigi
#5 Posted : Monday, March 05, 2012 5:01:16 PM
Rank: Elder


Joined: 3/31/2008
Posts: 7,081
Location: Kenya
Rahatupu wrote:
vky wrote:
I am considering buying land at an auction taking place in a few weeks. any wazuan who has done this before kindly share your experience(s)


Run boy/gal run.

...He means...RUN ununue...Though there are consequences you will have to live with...The ex owner will hate you more than those he owed money...
Pablo
#6 Posted : Monday, March 05, 2012 6:16:10 PM
Rank: Member


Joined: 3/17/2008
Posts: 567
Location: Nairobi
To make money uve gotta have some balls.

In urban areas whether ure hated or not doesnt matter. Lakini in shags wachana nayo.
jaggernaut
#7 Posted : Monday, March 05, 2012 6:36:53 PM
Rank: Elder


Joined: 10/9/2008
Posts: 5,389
Buy cheaply and sell later.
vky
#8 Posted : Monday, March 05, 2012 8:08:51 PM
Rank: Member


Joined: 6/17/2010
Posts: 572
thanks guys, what I gather from the posts above is that its a good buy but is there anyone with a negative account on the same would like to hears some cons about buying at an auction
'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
patcho
#9 Posted : Monday, March 05, 2012 8:27:15 PM
Rank: New-farer


Joined: 5/29/2011
Posts: 47
Location: Nairobi
there are pros and cons of buying land at an auction.One of the major problems is that,if the former owner had made some developments,its your business to evict him/her.na kama hiyo land is in shags,expect the relas especially sons to bring issues later.kwa hivyo its upto to you to weigh and decide if you are ready to go through the challenges.The pros is that,it may be a good deal cash wise....
jaggernaut
#10 Posted : Monday, March 05, 2012 9:12:07 PM
Rank: Elder


Joined: 10/9/2008
Posts: 5,389
patcho wrote:
there are pros and cons of buying land at an auction.One of the major problems is that,if the former owner had made some developments,its your business to evict him/her.na kama hiyo land is in shags,expect the relas especially sons to bring issues later.kwa hivyo its upto to you to weigh and decide if you are ready to go through the challenges.The pros is that,it may be a good deal cash wise....


Yeah, I remember the case where someone bought Paul Muite's house in Karen at an auction and had lots of difficulties taking possession of the property.
Oaks
#11 Posted : Monday, March 05, 2012 10:00:42 PM
Rank: Member


Joined: 1/22/2008
Posts: 45
@Vky,

One of the biggest risks I know of, is that most of the times, the owners of the properties run to court and is granted an injuction pending a full hearing. Challenge that comes in is that the selling financil institution hesitates to refund the deposit and you are thus caught in between. Tis worse if it is a loan and you have drawn the deposit. If not, then you savings is held up. Take into account how long our Court cases take.
Secondly, you have not stated where you are buying the land. If it is those kienyeji split plots, you may buy one in the middle and your neighbours become hostile, deciding that you cannot pass through their plots. Ita bidii unune helicopta to access your land.
Third, in some areas, you cannot buy land as an 'outsider'. You will never access your 'land'.
Lastly, please ensure tis not ancestral and/or Matremional land.A 'Somebody' will come up with a receipt/Deposit Slip stating that they made a deposit towards the purchase of the land

All said, if you are gutsy, go ahead.
vky
#12 Posted : Tuesday, March 06, 2012 1:43:52 PM
Rank: Member


Joined: 6/17/2010
Posts: 572
@oaks thanks alot, the land is commercial plot situated in nakuru town, with @oaks advice in mind I will research on the nature of the dispute that led to the property being put up for auction so as to avoid any come backs by the initial owner.
thanks @all
'One headache for famous medieval holy people was that someone might murder you to acquire your body parts for the relics trade'
jaggernaut
#13 Posted : Tuesday, March 06, 2012 2:29:21 PM
Rank: Elder


Joined: 10/9/2008
Posts: 5,389
I think a commercial plot in a major town is quite ok.
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