Best practices for buying, selling & renting assets safely
Asset Soko is Kenya's multi-vendor marketplace for properties, vehicles, aircraft, watercraft, and businesses. Whether you are buying, selling, or renting, protecting yourself from fraud and scams is essential. Follow the tips in this guide to transact safely.
Conduct thorough due diligence
Before making any payment, verify that the property or asset physically exists. For real estate, confirm land records and title deed details with the relevant county land registry office.
Request original official documents
Ask sellers for original title deeds (for property), logbooks (for vehicles), or business registration certificates. Never accept photocopies alone as proof of ownership — originals must be sighted in person.
Confirm the seller's identity
Cross-reference the name on all official documents against the seller's national ID or passport. The person listing an asset must match the registered owner on the title or logbook.
Research comparable market values
Before committing, look up similar properties or assets in the same area to understand the fair market price. If a listing price is significantly below market value, treat this as a major red flag.
Never pay before physically viewing
Do not send any deposit or full payment before personally inspecting the property, vehicle, or asset. Scammers frequently create a sense of urgency to collect money before you discover problems.
Use traceable payment methods
Prefer M-Pesa business pay, direct bank transfers, or escrow services rather than cash. Traceable payment methods provide a clear record in the event of fraud or a dispute.
Get a written agreement
For any significant transaction, have a lawyer draw up a sale or lease agreement before releasing funds. Verbal agreements offer minimal legal protection.
Avoid third-party payment channels
Only send money to officially documented accounts. Any request to pay via an unofficial M-Pesa number, a personal account unrelated to the listing, or a wire to a foreign account should be refused immediately.
Never go alone
Always bring a trusted friend, family member, or your lawyer when viewing a property, vehicle, or business — especially for high-value transactions or remote locations.
Meet in a public place first
For an initial conversation, arrange to meet the buyer or seller in a public location such as a bank, café, or shopping centre before proceeding to the actual site visit.
Share your whereabouts
Let a trusted person know exactly where you are going, who you are meeting, and when you expect to return. This is especially important for rural land or remote property viewings.
Inspect the asset thoroughly
For properties, check for structural issues, water and electricity connections, and boundary markers. For vehicles, insist on an independent mechanical inspection. For land, walk the boundaries against the title map.
Use a strong, unique password
Create a password for your AssetSoko account that you do not use on any other platform. A strong password combines uppercase and lowercase letters, numbers, and symbols.
Watch out for phishing attempts
AssetSoko will never ask for your password via email, SMS, or phone call. If you receive such a request, do not respond and report it immediately.
Be careful with personal information
Share your personal details only with verified parties and only to the extent necessary to complete a transaction. Avoid sharing national ID numbers, bank details, or M-Pesa PINs over chat or phone.
Log out on shared devices
Always log out of your AssetSoko account when using a shared or public device to prevent unauthorised access to your listings and personal data.
Trust your instincts
If something does not feel right — pressure tactics, vague details, reluctance to meet in person, or requests for unusual payment methods — walk away and report the listing.
How to report
Contact AssetSoko directly if you encounter a suspicious listing or user:
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Important Reminder: AssetSoko connects buyers and sellers but does not process payments on your behalf. Any request to send money through an unofficial channel or unverified account should be treated as a scam. Always transact through official, documented channels and consult a legal professional for high-value asset purchases. |
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