Today, a lot of people are thinking of going into real estate property world. A few are quitting their well paying jobs with the aim of initiating a real estate business. To some people, the reason for this is simply to be their own bosses, while to others, there’s a need they have identified therefore would want to fulfill.
This is what/It is what in other words we call investments. Investment in real estate is useful to the city and even to a nation since it enhances the economy and also provides job openings for people. The investors come from both the locality and foreign countries and have largely contributed to the buildup of cities and several towns as well.
Kisumu real estate’s are no exception. Both the local plus the foreign investors have to a greater extent improved and increased the economy of Kisumu City. However, whenever investors come, particularly the foreign ones, they normally hit wrong hands. That has scared away many investors, resulting to poor economy in the city.
In order to help the situation, there are rules and steps that have been formulated. The steps are mainly to guide 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. It is after that step that you move to the other step, of meeting the seller.
While in this step, the seller gets you the documents that show that she indeed is the person who owned that particular property and also that he is selling it/them. The documents can probably be the Title Deed, Grant or even certificates. All of these are to show that he truly is the genuine person who owned that property/land.
After receiving the documents from the person who owned the property/land, who is the seller, as the potential buyer you go ahead to carry out a search regarding 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, provides you a go ahead as to whether to buy the property or not. It's from here that you meet the seller again, now for the reasons of agreeing on the amount of money you're going to pay for that property/land. This is the last step associated with this whole process. In many instances, buyers pay the whole amount of the cost required. If in a case where you are not ready to pay the entire amount of cash, there’s a compulsory amount, 10% of the entire amount which you pay, according to the law, while you await to submit the full amount agreed.
Having followed each of these steps, confirm that the land or property you're acquiring is legal and also that the processes you've followed to acquire are all right processes. Like already mentioned, these steps have helped a great deal the investors who've got a mind of investing in Kisumu real estates.
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