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OpenNavigating the Property Market in Zimbabwe: Steps to Consider when Acquiring a Property in Zimbabwe
Purchasing a house in Zimbabwe can be a tricky assignment. This is because it involves several steps, which may vary depending on whether you are purchasing from an individual, local authority, a company or the government. It can be stressful as well due to the rising number of property scams.
Below is a general guideline:
1. Identify the Details of the Property
Establish if the Seller has title deed for the property in their name. Also ascertain if the property has architectural drawings, engineering drawings and also check if the plans were approved by the local authority.
2. Conduct due diligence
This is to ensure that everything is above board i.e it meets the requirements for each location, pricing and conditions of payment.
3. Verify Ownership and Legal Status
Obtain a copy of the title deed. Conduct deeds search at the Deeds Registry Office to confirm ownership and check for any encumbrances (unsettled deceased estates, mortgages, disputes or caveats). For properties without title deeds, confirm with respective local authority for council land, respective government ministry. Check for double sale
4. Negotiate the Terms of the Sale
Discuss the price, payment terms and any conditions of the sale with the seller. Its advisable that one engages the services of a lawyer to facilitate negotiations.
5. Drafting of Agreement of Sale
A lawyer or estate agent should prepare a formal Agreement of Sale outlining the purchase price, payment terms and conditions. Ordinarily both parties must sign the agreed Agreement of Sale.
6. Obtain Tax Clearance Certificate
The Seller must obtain a Tax Clearance Certificate from the Zimra to confirm that all tax related obligations have been met.
7. Transfer of Title
The Seller’s conveyancer prepares transfer documents, which are lodged at the Deeds Registry Office. The Buyer will be required to pay stamp duty at the point of registration at the Deed Registry Office, calculated based on the property value and related procedures.
8. Handover and Finalization
After all the payments are completed and the title is transferred, the seller officially hands over possession of the property to buyer. Utility accounts (water, electricity, rates) should be updated to reflect the owner.
Lenon Itai Rwizi is a Registered Legal Practitioner of the Superior Courts of Zimbabwe and can be contacted on: +263 774 159 146 or +263 713 967 341 lenonrwizi@gmail.com. The above does not constitute formal legal advice, and neither does it create any type of attorney-client relationship. Please seek legal advice from your own by contacting the writer https://www.facebook.com/profile.php?id=100057530166769 or any attorney of your choice.
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