Procedures of investing in Kisumu real estates

Procedures of investing in Kisumu real estates

Today, many people are thinking of going into the real estate world. Some are quitting their well paying jobs with the aim of starting a real estate business. To some people, the reason for this is just to be their own bosses, while to others, there’s a need that they have identified and so would want to fill. And Kisumu real estates is one area where these investors have chosen to try this lucrative business.

This is what in other terms we call investments. Investment in real estate is good to a city and even to a nation as it boosts the economy and also provides job opportunities for people. The investors come from both the locality and foreign countries and have largely contributed to the growth of cities and many towns as well. Kisumu real estates is no exception. Both the local and the foreign investors have to a larger extent improved and increased the economy of Kisumu City. However, whenever investors come, especially the foreign ones, they sometimes find themselves dealing with the wrong people; mostly con agents and imposters in the real estate industry. This has scared away many investors, resulting to poor economy in the city.

In order to help the situation, there are rules and steps that you should observe. The steps are mainly to help the investors, both the local and the foreign, to follow the right procedure when they want to invest in Kisumu real estates.

The very first step is to meet the agent who will take you to view the land/the property. This is for your satisfaction as to whether the property or the land impresses you or not. It is after this step that you move to the second step, of meeting the seller.

In this step, the seller gets you the documents that show that he indeed is the owner of that particular property and that he is selling it/them. The documents can be the Title Deed, Grant or even certificates. All these are to show that he is the genuine owner of the said property/land.

After receiving the documents from the owner of the property/land, who is the seller, as the potential buyer you go ahead to carry out a search concerning the property. The search is basically to ascertain that the property is genuine and that under normal circumstances, you are free to buy the land without interferences whatsoever.

The search, depending on the findings, gives you a go ahead as to whether to purchase the property or not. It is from here that you meet the seller again, now for the purposes of agreeing on the amount of money you are to pay for that property/land. This is the last step of this whole process. In most cases, buyers pay a whole amount of the money required. In cases where you are not in a position to pay the entire amount of money, there’s a compulsory amount, 10% of the whole amount that you pay that shows that you are committed, according to the law, as you await to pay the total amount agreed.

Having followed all these steps, be sure that the land or property you are acquiring is legal and that the processes you have taken to acquire are all right processes. Like mentioned above, these steps have helped a great deal the investors who have a mind of investing in Kisumu real estates.

For more information on this, you can also visit us at www.westkenyarealestate.com