You probably know someone, who made a bad purchase of real estate in Addis Ababa or somewhere else in Ethiopia and lost a fortune. We don’t want unlicensed brokers to fool you into making a bad purchase and send your money down the drain. Therefore, we have made a checklist to help you determine whether any offer by a “potential seller” is genuine or not.
Before you decide to buy a property, make sure that:
- The property has a title deed and building permit can be granted
- The property does not fall in an area zoned for urban renewal program unless you have the capacity and interest to redevelop the site in accordance with the minimum requirement
- A significant portion of the land will not be claimed by the state for road expansions or other public projects
- The property is free from court orders
- The property is free from collateral blockade
After verifying the status of the property, make sure you take the following measures.
- Submit the transaction agreement between you and the seller to the public notary to get it registered. Note that the agreement must be signed before an official.
- Make the necessary payment to the office of the Land Administration Authority and get the transfer ensured
- Get the transfer effected by having the Land Administration Authority put a seal at the back of the title deed
Of course, we would be glad to guide you throughout the whole process if you give us a chance to work with you. Just get in touch with us.
