The home buying process can become emotional and stressful, but it’s bound to be smooth if you take time and do proper research. So understanding steps to follow when buying a home in Kenya is vital. It helps you avoid scams and budgeting above or below your limits. Read on to find out 6 must-follow steps on how to buy a home in Kenya.
- Find the Right Real Agent
The first step is to find a licensed real estate agent that can operate in your town or area of interest. Your real estate agent is your representative in the home buy transaction. They’ll out for your best interests by finding homes that meet your criteria. Besides, they’ll get you showing and help you write offers and negotiate.
- Begin House Hunting
Now it is time for the actual house hunt. Your real estate agent will help you through this process. It is a good idea to make a list of your top considerations for the house. For instance, you may want to consider if it is a starter home or you want to stay there for the foreseeable future.
- Make an Offer on the House
Once you find a house, your realtor or lawyer will help you make an offer to purchase. It is usually a legal document in writing. Your offer letter includes details about yourself (like your name and current address). The price you’re willing to pay for the home and more. It will also have a deadline for the seller to respond to your offer. From here, the seller can respond in one of three ways:
- Accept the offer: Here, the seller will accept your offer, and you can move on to the next step.
- Reject the offer: Here, the seller rejects your offer. And you can either submit another offer or find another house.
- Give you a counteroffer: the seller decides to give you a counteroffer that includes changes in the selling price or terms of the sale. You can reject the counteroffer, accept it or make another counteroffer.
- Get a home inspection
Let your real estate help you with the inspection. During the inspection, an inspector will go through the home and look for problems. They will test electrical systems, roofing, check appliances, and much more. After the inspection, the inspector will give you a list of issues they found in the home. Go over your inspection findings with your realtor and find out if you notice any red flags.
- Get preapproved for the mortgage
When you’re ready to start house hunting, it’s time to get preapproved for a mortgage. Your lender will give you a preapproval letter that states how much you’re approved for based on your income, assets, and credit, assets and income. You can show your preapproval letter to your real estate agent so they can help you find homes within your budget.
- Close the deal and move into your new home
Many buyers choose to have a final walkthrough a day before or the morning of closing. Here you check whether the property looked the same as when you made the offer. If you’re convinced, the seller completes the signing and record the sale. Then you’ll receive your keys, and the house is yours.
Finally, get ready to move and settle into your new home.