Buying a home for the first time in Kenya can be a daunting process, especially when it comes to the legal aspects of conveyancing. Here is a step-by-step guide to conveyancing for first-time homebuyers in Kenya:
- Engage the services of a qualified law firm or conveyancing professional: It is essential to engage the services of a qualified lawyer or conveyancing professional to guide you through the conveyancing process. They will advise you on legal requirements and help you avoid any potential pitfalls.
- Conduct a property search: Conduct a property search to identify properties that meet your budget and requirements.
- Conduct a physical inspection: Once you have identified a property that interests you, conduct a physical inspection to ensure that it is in good condition and meets your requirements.
- Negotiate the purchase price: Negotiate the purchase price with the seller or their agent. It is important to conduct market research to ensure that you are paying a fair price for the property.
- Sign the sale agreement: Once you have agreed on the purchase price, sign a sale agreement with the seller. The sale agreement should include details such as the purchase price, payment terms, and any conditions of sale.
- Conduct a conveyancing search: Engage the services of a qualified lawyer or conveyancing professional to conduct a conveyancing search. This involves verifying the legal ownership of the property, checking for any encumbrances, and ensuring that there are no outstanding debts or disputes associated with the property.
- Obtain a valuation report: Obtain a valuation report from a qualified valuer to ensure that you are paying a fair price for the property.
- Pay the purchase price: Pay the purchase price to the seller or their agent. It is important to use a secure payment method such as a bank transfer or mobile money.
- Transfer the property: Once the purchase price has been paid, transfer the property into your name. This involves registering the transfer with the Land Registry and obtaining a new title deed.
- Obtain a mortgage: If you are financing the purchase with a mortgage, engage the services of a qualified mortgage broker to help you secure the best mortgage deal.