Buying and owning a house is most peoples dream in Kenya, and just like purchasing any other property in and around the country, a due process has to be followed. A real estate transaction entails three major stages which are administrative, legal and financial. Keeping tabs with the following key steps will come a long way in helping buy a house in Kenya.
Hire a real estate agent
Working with a licensed real estate agent in a particular area of interest is beneficial in a lot of ways. The agent is not only required to furnish you with all the necessary do’s and don’ts in the market but also help you get the best deal while having value for money in mind.
Find your perfect house
This is essential in the whole process of acquiring a house. Getting a house that fits all your necessary requirements will help you settle in well while ensuring no regrets will arise later. Key issues such as the location of the house, the design and even costs that would be used to furnish or upgrade the house should make a bulk of your decision-making process. Its only then that you will consider making an offer to the seller.
Acquire Legal services
Getting everything right in a contractual agreement is absolutely critical to avoid future legal issues with the seller or any other interested parties. A lawyer will aid in the preparation of your offer document that contains your personal details, property details and the amount you’re willing to fork out for the purchase. This includes the deposit and the closing day fee.
Negotiations
The buyer and the seller hold negotiations about the particular purchase of the property. The seller can come up with a counteroffer regarding the price or come up with different terms to make the sale. The negotiations are poised to make both parties have a common ground that often leads to an agreement. It’s only then that the sale can happen.
Payment
Before purchasing the house, however, you’re entitled to inspect the house which can also amount to you bailing out if you have any change of mind about the property. It’s important to know the actual condition of the house to every detail. If there’s no change of mind, the sale is poised to go on with closing of the deal being done by your resident bank or your property lawyer. The lawyer should thoroughly go through all the documents provided by the seller or mortgage lender if it’s a mortgage.
The signing of the documents can either be done privately with buyer and seller being the only signatories or in the presence of a real estate agent. Getting your dream home now should fairly be easy courtesy of this simple guide.
