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...

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...