The timeline can vary but generally includes:
? Fees vary based on the services provided and the property value. Common fees include:
If you have a complaint:
Due diligence involves a comprehensive investigation and verification process to assess the property’s condition, legal status, and financial implications before completing a purchase. It ensures that all aspects of the property and transaction are legitimate and satisfactory.
Due diligence helps prevent potential issues such as legal disputes, financial loss, or unexpected problems with the property. It ensures that you are fully informed and protected against risks associated with the purchase.
Address outstanding issues by:
Yes, many registered real estate agents can assist with international transactions or refer you to specialists in cross-border real estate deals.
Before purchasing land, consider the following:
You can find land for sale through:
Verify the land’s ownership by:
The process typically involves:
Risks include:
After purchasing land, you should:
The property acquisition process typically involves several steps:
Costs typically include:
If disputes arise, seek legal advice from a lawyer specializing in property law. You may need to resolve issues through mediation, arbitration, or the courts, depending on the nature of the dispute.
Key documents include:
Verify ownership by:
Ensure compliance by:
Yes, buyers should be aware of:
Property taxes are taxes levied by the government on real estate property. These taxes are based on the property’s value and are used to fund local services such as schools, roads, and public safety.
Property taxes are typically calculated based on the assessed value of the property and the local tax rate. The formula is generally:
Property Tax=Assessed Value×Tax Rate
Capital gains tax is calculated as follows:
Failure to pay property taxes can result in penalties, interest on overdue amounts, and potential legal action. In some cases, unpaid taxes may lead to a lien on the property or other enforcement actions.
Property taxes are typically assessed annually, but the frequency of updates and reassessments can vary by jurisdiction. Check with your local tax authority for specific details.
• Zoning Restrictions: Zoning laws that restrict land use or development can affect property value by limiting potential uses or expansions.
• Land Use Changes: Changes in land use or zoning regulations can impact property values positively or negatively, depending on the nature of the changes.
A registered real estate agent in Kenya is a professional who is officially recognized and licensed by the relevant regulatory body, such as the Estate Agents Registration Board (EARB). They are authorized to facilitate the buying, selling, renting, and management of properties.
You can find registered real estate agents by:
A registered real estate agent should have:
Verify registration by:
Registered real estate agents offer services such as:
To engage an agent:
Expect the agent to:
Review or consider changing your agent if:
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