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Important things to consider while investing in Kisumu real estates

Important things to consider while investing in Kisumu real estates

2014-09-06 13.55.27This has been a fast growing sector over the past few years. It has so much to offer to all the stakeholders’ i.e. the Land owners, properties buyers, Properties seller, local residents and even expatriates communities that want to invest in the real estate business in Kisumu County.

The first move you will need to ascertain who exactly owns the land/ property and ensure that you are buying from a truthful and legitimate Owner/ seller. This is specifically done to curb land grabbers, fraudsters, greedy land agents and lawyers.

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There are some lawyers whom land owners entrust with their properties, therein if a client is in need of that particular property, they tag along outrageous prices just to fatten their pockets. This trend has also been noticed in Kisumu County whereby Agents with brief case offices with no legal document of operating real estate business tend to nurture this greed and shameful act of over quoting the actual property price to the prospective buyer. This nuisance has derailed the real estate growth within the lake side city by a huge percentage, where the willing buyer and willing seller act is barricaded partially.

Secondly, you will also need to get all the necessary documents for the property e.g. title deeds, grants, certificates, land treaty etc these documents e.g. the title deeds must be reviewed by the Government through the land registrar offices and also have a land valuation performed to the property on sale. There is a fee for all this searches and inquiries which are at the buyers expenses.

Thirdly you will have to review the documents on your own and be involved in all steps pertaining to the purchase of the property. You also need to engage an independent lawyer to help you review the documents as a precaution before making any payment to the seller.

From here if everything is proper and the land doesn’t have any disputes or squabbles, the you have the green  light of paying either the 10 percent of the property as the norms or even paying all at once, the choice is yours. Though it’s advisable to pay 10 percent while doing search then completion when the results are out hence positive and corresponding to what’s written on the title deed.

For more exciting facts about Kisumu real estates in Kisumu County, feel free to visit www.westkenyarealestate.com