Most Kenyans living abroad look forward to investing back at home. As much as some opt to invest in other businesses, the majority of Kenyans living in the Diaspora go for property – land and houses.
One of the mains reasons is that property, and especially land, requires very little or no maintenance costs. With houses, one does not need to worry about what will happen to it because you can still rent it out and make money out of it.
Before one gets to enjoy the above benefits, however, they need to make a point of purchasing these properties, and today, we take you through the key things you need to make this investment a success.
One of the biggest and most crucial decisions someone in the diaspora has to make is to find a trusted real estate company to buy the property from. This is because many Kenyans living in the diaspora have fallen victim to con people claiming to be land agents or have land they can sell at affordable rates.
It is highly recommended that you buy property from an incorporated company and not an individual. These companies must have a physical office, social media presence, offer site visits, and allow for land searches before the purchase.
Once the above is done, and you are satisfied with the property, a sale agreement has to be presented, which acts as a contract between the real estate company and the buyer. This is where the entire exchange will be outlined, including the mode of payment. Some real estate companies offer different forms of payments that suit the client’s requirements, including cash, loan facility and installments.
The following documents will also be required from the client living in diaspora to complete the process. A copy of ID, copy of PIN, and three passport-size photos can be sent via mail. This is, however, different depending on the company one chooses to buy from.
Once the above is done, the sale process is complete, and one will only await to receive the title deed once payment is completed as agreed between the two parties.