Before you start to look for a property in
Kenya it is vital to know your budget. How much money do you have? How much are
you prepared to borrow? Can you obtain a loan for the amount you require?
Different regions of Kenya, and different
parts of those regions, have varying prices for similar properties. Many local
and national factors come into play in deciding the price of property across
Kenya, as in any country. Until you know your price range it is difficult to
start searching for the area that suits you.
There are many Kenyan banks, SACCO’s and building
societies that lend money on Kenyan property; there are also Kenyan banks that
lend to foreign buyers or you may choose to raise the funds on your current
property. You can search lenders out
directly, use the services of a financial adviser or mortgage broker, or seek
for help and advice from Kenyan real estate professionals. It is important to be clear how you plan to
raise the funds, the length of term, the interest rate, the type of mortgage,
penalty clauses for early payment, the proof of income that will be required,
the need for a medical and the length of time the mortgage will take to
arrange.
Realtors have researched the mortgage market
for many years and continue to do so constantly to ensure that our clients get
the very best service and the very best deals. There are constantly new
financial products on offer and it is the job of our mortgage partners to be up
to date with all the latest information. If you choose to use one of our
partners, all your financial research will be done for you and you will receive
written confirmation of the maximum amount of money you can borrow before you
travel to Kenya. Using one of the stakeholders approved brokers will save you
time during the purchasing process. Good
properties do sell quickly anywhere in the world, and Kenya is no exception to
this. You will be more likely to secure the house you want if you have organized
your finances before going to Kenya to view properties.
Please find more
informative hints like this on www.kenyan-real-estate.com
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