HOW TO ACQUIRE IMMOVEABLE PROPERY IN ZIMBABWE
Immovable property is often considered a lower risk, long term vehicle for
investing or preserving the value of one’s investment.
However, the process of acquiring property can be risky business, especially in
an environment that is rife with fraud and misrepresentation.
Here are some tips for first time purchasers in Zimbabwe:
1. Conduct adequate due diligence- that includes doing a search of the title deed
at the Deeds Office and insisting on ascertaining the identity of the seller(s).
Even if you are buying through an Estate agent be proactive and see for yourself!
If you are unable to carry out this exercise on your own engage a trusted law firm
to assist you.
2. Documentation- insist on seeing original documentation for example the Title
Deed or diagrams. Compare the names on the Deed with the names of the
seller(s) on their national identification documents and make sure what’s on the
Title Deed matches the results of the search in point 1.
3. DON’T RUSH- property as mentioned previously can be a lifetime investment.
Do not feel pressured by either the seller or agent to conclude the deal if you are
unsure, or are unsatisfied with any part of the transaction. Do not hand over any
money without doing steps 1 and 2 above.
4. Agreement of sale- read the terms of the agreement very carefully. If there are
clauses that you are unsure of ask the person who drafted the document to
explain them to you. Pay attention to breach clauses. Where possible engage a
professional to draft the agreement.
This list is not exhaustive, but highlights some of the critical aspects you should
consider before making an investment.