What you need to check before committing to an investment.
Category : What you need to know
It could Land, Houses, Apartments e.t.c.Important things you need to understand and check before you get into a property transaction in Kenya. Like any legitimate business, there exists the very real possibility of getting swindled.
To avoid complications, it is first important to check the validity of the title deed, the zoning of the property and whether the land rates and taxes have been paid up to date. It also necessary to check if there are any caveats against the property or any pending disputes on ownership.
After all these check out, the process of purchase is pretty straightforward. But if you are new, it will save you a lot costly mistakes to enlist the services of a qualified legal counsel.
Then there is the issue of financing. If you choose to get a loan or a mortgage to finance your property investment venture in Kenya, be sure that you fully understand exactly how much you are going to pay back. Flexibility on the payment terms is a very good thing.
Finally is the consideration of security and insurance. Real estate investment, as any other asset, should ideally be insured. Shop around for the best insurer, and make sure you understand the terms, especially the fine print.