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Buying an offplan property, especially an apartment, in Kenya involves the following steps;   Initiate the process by engaging with a reputable real estate agent to help you find a property that matches your preferences and requirements. Once you’ve selected a property, your real estate agent will connect you with the property developers/owner. The developers will then prepare an offer letter that outlines the terms and conditions of the property purchase. The offer letter acts as a reservation of the unit. The offer letter will be accompanied by necessary documents such as the title deed, company registration form, property search, and NEMA approvals, among others. The offer letter is valid for 7- 14 days within which you need to conduct due diligence on the property, which involves reviewing the documents and ensuring all legal aspects are in order. It is advisable to use a lawyer for due diligence. After conducting due diligence, you’ll need to sign the offer letter and make a required deposit, typically ranging from 20% to 30% of the property’s total value. After making the deposit, you can propose a payment schedule that suits your financial capabilities, as long as it aligns with the project completion period.  Payment schedules can be on a monthly, quarterly, or every six months basis. The developers will then prepare a legally binding sale agreement for the property purchase. Review, sign and send it back. Once the property is completed and you have completed the payment, the unit will be handed over to you. As a property owner, you will receive a sectional title that serves as proof of ownership of your specific unit and shared ownership of common amenities in apartment complexes or gated communities. Better call Sydia +254 759 333 300 for all your Nairobi Real Estate needs!🤩 #sydiarealty #tipstuesday #tipstuesdaywithsydia #nairobikenya #nairobirealestate #explorepage #viral
Buying an offplan property, especially an apartment, in Kenya involves the following steps; Initiate the process by engaging with a reputable real estate agent to help you find a property that matches your preferences and requirements. Once you’ve selected a property, your real estate agent will connect you with the property developers/owner. The developers will then prepare an offer letter that outlines the terms and conditions of the property purchase. The offer letter acts as a reservation of the unit. The offer letter will be accompanied by necessary documents such as the title deed, company registration form, property search, and NEMA approvals, among others. The offer letter is valid for 7- 14 days within which you need to conduct due diligence on the property, which involves reviewing the documents and ensuring all legal aspects are in order. It is advisable to use a lawyer for due diligence. After conducting due diligence, you’ll need to sign the offer letter and make a required deposit, typically ranging from 20% to 30% of the property’s total value. After making the deposit, you can propose a payment schedule that suits your financial capabilities, as long as it aligns with the project completion period. Payment schedules can be on a monthly, quarterly, or every six months basis. The developers will then prepare a legally binding sale agreement for the property purchase. Review, sign and send it back. Once the property is completed and you have completed the payment, the unit will be handed over to you. As a property owner, you will receive a sectional title that serves as proof of ownership of your specific unit and shared ownership of common amenities in apartment complexes or gated communities. Better call Sydia +254 759 333 300 for all your Nairobi Real Estate needs!🤩 #sydiarealty #tipstuesday #tipstuesdaywithsydia #nairobikenya #nairobirealestate #explorepage #viral

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