Due Diligence When Buying Zanzibar Real Estate
✔ Continued growth within the international real estate market combined with growing technological developments resulting in fewer barriers between land owners and prospective buyers has resulted in increased awareness of the potential risks involved and, the need for ensuring that said risks are identified and mitigated in such transactions. New clients looking for land often ask us, “What is due diligence when buying land?”
✔ Due diligence is the process by which ownership, titles, claims and occupancy rights of properties are verified, examined and investigated through official channels, all done in an effort to confirm genuine ownership and identify any obstacles, pre-existing claims, fraud attempts or other potential issues with the property.
✔ The primary objective of a successful due diligence investigation is to accurately gather information about the property and confirm the legal right of the individual claiming ownership of the property, which is very important when buying Zanzibar real estate for sale.
How do I Know I am not getting Scammed when Buying Zanzibar Real Estate?
This is the number one question asked by most investors interested in purchasing a Zanzibar house for sale, Zanzibar land for sale or Zanzibar hotel for sale. my genuine Authentic ownership concerns faced by potential investors contemplating purchasing any Zanzibar real estate can be answered by conducting thorough research into the property, done by reviewing the relevant land ownership documentation, speaking with neighbors/community leaders and ensuring all paperwork is in order before proceeding with the transaction. It is necessary for potential investors to identify any problems with the property before purchasing any Zanzibar real estate.
Conduct interviews with the neighbors, village leaders or the local administration to determine the history of the land. It must also be noted that Zanzibar is still a developing country and many land owners may not have official ownership documentation, especially if the land is generationally owned and has been passed down. In this case, speaking to the local Sheha (village leader) and municipal office can assists greatly with the due diligence process.
''TO GOOD TO BE TRUE' - Be wary of such deals, where the asking price of the property is much lower than the property's valuation or worth, this should be a major red flag. To avoid such fraud, you can enlist the services of a reputable real estate agency, such as Africa Luxury Properties, which does due diligence on each of their Zanzibar real estate listings.
Review site plans to ensure that the land measurements and the borders are as expected and have been surveyed, this is done to ensure that you are getting what you pay for.
When planning to purchase a Zanzibar house for sale, Zanzibar hotel for sale or Zanzibar land for sale, due diligence checks must be a crucial part of the process. Performing due diligence checks can often be very time consuming and resource intensive. Enlisting the services of an established and credible Zanzibar real estate agency, experienced in navigating the process of executing due diligence checks is the first real step in claiming your piece of paradise. Africa Luxury Properties is a professional real estate agency that offers a range or Zanzibar real estate listings which have all undergone due diligence checks and are all ready for purchase.