To avoid such complications and traps, it is important to:
#1. To check the validity of the title deed
#2. The zoning of the property
#3. Whether the land rates and taxes have been paid up to date.
#4. It also necessary to check if there are any caveats against the property or any pending disputes on ownership.
After you have cleared the list above, the process of property purchase is straightforward. But if you are new to the whole property investment idea, it will save you a lot costly mistakes to enlist the services of a qualified legal counsel and a property management firm.
Then comes in 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 to avoid future complications with either the bank, legal counsel or a real estate management firm. Flexibility on the payment terms is a very good thing to note and take care of.
In conclusion, is the contemplation 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 legal print.
