We advise every buyer to conduct a search at the Ministry of Land to ascertain that the land/ residential property they are buying actually belongs to us or the companies/individuals we are selling on behalf of. Also go a step further and visit the site. While there, talk to the neighbors and investigate who the property actually belongs to.
Before a transfer can be registered, the buyer is required to pay for stamp duty. The buyer has to obtain a payment authorization slip from kenya Revenue Authority Itax System then proceed to make payments. The current stamp duty rates are 4% of the valuation amount for lands within municipalities (leaseholds) and 2% for land outside municipalities (freeholds)
A Freehold property is a property that is sold outright for a specific purchase price to a Purchaser and the owner gets absolute proprietorship over the land. On the other hand, leasehold property is held on a government lease for a specified period of time, usually 50 or 99 years for urban plots and up to 999 years for agricultural land.
A sale agreement is sent to the seller within a maximum period of 7 calendar days
You will also need to provide us with either a police abstract signed citing the reasons for the loss of the contract. The veracity of your request will then be verified and if genuine, a new Sale Agreement will be issued upon payment of a nominal fee.
A loan in which the borrower puts up the title/property documents to real estate as security (collateral) for a loan. If the borrower doesn’t pay back the debt on time, the lender (usually a bank) can foreclose on the real estate and have it sold to pay off the loan.
The Purchaser will have to provide a clearance letter from the financier regarding settlement of all dues towards the property to initiate the transfer.
You would need to apply for the Discharge of the existing Mortgage from the current Bank over the property and register the new Mortgage / Charge of the new bank.
This process is solely an agreement between the buyer and the lender/Banks and Rochman Properties will not in any way interfere with the process.
Yes, you can rent out your properties.
The Purchaser may alter the internal structure of the unit only after handover of the property and should seek permission from the alterations team of Rochman Properties prior to commencement of work. Structural changes to the villa or unit are not allowed.