Baoriat Real Estate Limited

Due diligence in Real estate is defined as the duty or responsibility of the property buyer to conduct a research on the property to govern whether they (property buyer) are contented.  Basically, in simple words, Due diligence is also doing your homework before buying any real estate property. What are the factors one should consider when carrying out due diligence on property? The following are the factors to consider when carrying out due diligence in Kenya; 1. Market equilibrium. When conducting Due diligence on property, it is very necessary for you as the property buyer to understand the market so as to avoid instances where you will be overpriced.   Equilibrium  is the state in which  market  supply and demand balance each other, and as a result, prices become stable. 2. Property review. After you have confirmed that the property exists, scrutinize that property thoroughly to ensure that there isn’t any fault. You can choose to hire a home insp...

Fig. 1 showing photography of off-plan property in Kenya In Real Estate, off plan purchase is referred to as buying a property that is still under development process or rather it is yet to be completed.   In Kenya, there are various factors that motivate purchase in off plan. These factors include; good payment plan, reputable developer, substantial savings, ability to give input on a show-house and lastly good negotiation power especially while paying in many units.  Off plan purchase here in Kenya comes with its pros and cons. They include; Pros of off plan purchase of Property in Real estate. What are these pros (advantages) of off plan purchase in Real estate? 1. You are locked in a price which saves you in any future market trends. Purchasing your property off the plan allows you to lock in the price and saves you from any future market trends that may see the rest of the houses in the area go up in price. Even if your property’s value goes up, you will not need ...

Over the years, property fraud in Kenya has been rampant. Property fraud is defined as the act of stealing property. For instance, a fraudster could forge a document to convince a mortgage lender that he or she owns the property and mortgage your property without your knowledge . One of the primary elements that heavily affects property buyers and property owners as well is property fraud. It’s time that we should all be aware of different forms of property fraud and learn how to prevent being victims of this kind of evil that is in real estate industry. These forms of property fraud are; Foreclosure relief (Foreclosure fraud) Foreclosure fraud/ relief happens when a property buyer experiences difficulties in making mortgage payments. To exemplify; a fraudster approaches a property owner with issues concerning his or her mortgage payment. Afterwards, he goes extra miles and offers loans and monthly payment schedule that is relatively at a lower price for the transfer of the propert...

It is of great importance for any property investor to carry out site visit before deciding whether or not to purchase the property. Being confident that the property (land) is a good match with what you are looking for, is the key in making successful purchase of whatever kind of property you would like to own. Here are some of the things pay attention to during site visits: Proximity of social utilities/ Public utilities. During site visits, pay attention to the closeness of the available social utilities such as water source and electricity. As much as the map indicates that all these are available, it is very important to go and confirm on your own. Find out whether you’ll face any setbacks in getting electricity or water in your home. Confirm whether the property is a freehold property or a leasehold property. Ensure that during site visit, the property owner has to confirm whether the property is a freehold or a leasehold. What is the difference between a freehold propert...

Residential space in Kenya In Kenya, most investors are now investing in real estate due to the positive cash flow attach to every property. In return, they gain financial freedom and secure their goals as well. Annually, Real estate appreciates in value not only in Kenya but also worldwide. Here are the reasons why there is a significant increase in value of real estate property specifically in Kenya; 1. Rapid growth in population. With rapid growth in population especially in urban areas, most Kenyans have to provide shelter for their families. This definitely results to high demand for more real estate residential projects (housing projects). In other words, this means that increase in demand of more homes directly translates into faster population appreciation in Real Estate prices. 2. General behavior of fiscal inflation. Yearly, property is evidently expensive to develop and also maintain. This becomes a concern due to steady increase in price of construction materials or...

Agricultural land for sale. Whilst property fraud comes in various guises, here in Kenya, there are several instances where land owners have had their property fraudulently sold without their consent. Dishonest solicitors, false witnesses, forged signatures in land transfer deeds are the usual ingredients in the mix for property fraud in our country.  Baoriat Agencies    has therefore compiled this awesome piece to enlighten you on how to avoid being a victim of land fraud when buying property in Kenya. 1. Be conversant with your land agent. Knowing your agent or broker is one of the ways to curb land fraud in Kenya. Ensure that the very first person you contact before purchasing your property is the land agent of that particular property. Ask for copies of their proper identity like confirmation of their registration with Real Estate Agent Board and national identification card just to be sure that you are dealing with the right people. 2. Know the land owner/ sell...

Photography showing raw land in Kenya It is every Property seller’s joy to always sell their property very fast without undergoing a lot of difficulties and the toil that comes with the process of selling Land in Kenya especially if it is a raw land. Here are the 5 common mistakes and solutions most of the landowners commit while selling their land in our country.  1. Overpricing your property. One of the key things a land buyer will look at is the price of that particular property. Overpricing your property/ land will obviously turn off potential buyers who may have developed interest in your land. It is therefore very important to carry out a proper research on the market prices around that area and trends will do you good as a land-seller before making up your mind on the final price of your land. While in the process of researching, you will get to discover  other ways of selling land fast here in Kenya . 2. Taking low quality photos of the land you are selling. Taking...

Real estate houses in Kenya In Real Estate, Lead generation is a process or rather an action of stimulating and cultivating potential customers for a business's products or services. How can someone find quality Real Estate lead generation? Here are the major ways you can always go for and how to convert those leads once you have them: Contact your sphere. It is actually very important to make contacts with your sphere. This is one of the ways to generate quality leads as a Real Estate  Investor. Make your customers aware that you are taking new listings. Communication! Communication! Communication is indeed very vital in any kind of business. As a matter of fact, good communication with your clients  would truly do you good. Give them a call just to check on them and know their whereabouts. Note that you may make countless calls before you really get desired results. Don't despair! Call expired listings. Expired listing is regarded as the most qualified lead that exists....

Every individual who owns a vacant land or raw land can tell you how hard it is to actually sell it compared to selling existing property like a home. This is because it is bare land which makes it difficult for potential buyers to visualize the potential of the property and see its value. You just need to tailor your tools, strategies and focus for selling this type of property. Here are the tips on how how you can minimize the sales cycle and help you get fast money from your land. 1. Price your land right. Coming up with the right price for your land is one of the fastest ways of selling off your vacant land  in Kenya. To achieve this, you can either: Talk to a Real Estate Agent who can guide you further on how to price your land basing on how other people in the same area are selling their land. Alternatively, find a Real Estate Professional who will help you valuate the property. You might fall in a trap of setting a price which is not in line with market prices. Most lan...