Frequently Asked Questions

In Kenya, the seller typically pays the real estate agent’s commission. This commission is usually a percentage of the final sale price of the property.

Here’s a quick breakdown:

• Seller’s Responsibility: When a property is sold, the seller is generally responsible for paying the commission to their listing agent (the agent who helped them sell the property).
• Commission Split: If a buyer is also represented by an agent, the seller’s agent usually shares a portion of that commission with the buyer’s agent. So, while the buyer doesn’t directly pay the commission, their agent still gets compensated from the overall sale.
• Rental Properties: For rental properties, the agent’s fee is often equivalent to one month’s rent, also typically paid by the property owner/landlord.

While we often hope our homes will always increase in value, the truth is, yes, a home can depreciate, or lose value.

Think of it like this: just as a car loses value over time, a house can too. This usually happens due to factors like:

• Market Changes: A general downturn in the economy or the local housing market.
• Property Condition: If a home isn’t well-maintained, needs major repairs, or becomes outdated, its value can drop.
• Location Issues: Changes in the neighborhood (like new undesirable developments) or environmental factors can negatively impact value.

So, while homes often appreciate over the long term, it’s good to remember that depreciation is a possibility.

When buying a home, it’s common to wonder whether an older or newer property offers better value. Both have unique benefits!

Older Homes often boast:

• Character & Charm: Unique architectural details, mature landscaping, and a sense of history.
• Established Neighborhoods: Often located in well-developed areas with existing infrastructure and amenities.
• Potentially Larger Plots: Older homes might sit on more generous land sizes.
• Value-Add Potential: Opportunities for renovations can increase equity.

Newer Homes typically offer:

• Modern Conveniences: Up-to-date layouts, smart home technology, and energy-efficient systems.
• Less Immediate Maintenance: Fewer unexpected repairs in the initial years.
• Warranties: New construction often comes with builder warranties.
• Customization: If bought early in development, you might have options for personalizing finishes.

Ultimately, “value” depends on your priorities. An older home might be a better value if you appreciate character and are willing to invest in updates, while a newer home offers turn-key convenience and modern features. Consider your budget, lifestyle, and long-term goals when making your choice!

In real estate, a broker is a licensed professional who has taken education beyond the agent level and passed a broker’s exam. Think of them as experienced and highly qualified real estate agents, often with more training and legal responsibilities.

Here’s what makes a broker different:

• Higher Qualification: Brokers have met stricter licensing requirements than standard real estate agents.
• Can Work Independently: Unlike agents who must work under a broker, a broker can operate their own real estate firm and hire agents to work for them.
• Enhanced Expertise: They typically possess a deeper understanding of real estate laws, contracts, and complex transactions.

Whether you’re buying, selling, or leasing, working with a broker or an agent supervised by one ensures you have an experienced professional guiding you through the process.

Beyond your mortgage payoff, common costs can include:

• Agent Commission: The fee paid to your real estate agent (typically a percentage of the sale price).
• Legal Fees: Costs for your lawyer to handle the conveyancing (transfer of ownership).
• Capital Gains Tax (CGT): A tax on the profit made from selling property (check current regulations).
• Minor Repairs/Improvements: Costs to get your home market-ready.

The timeline varies greatly depending on market conditions, your property type, price, and location. Some properties sell within weeks, while others might take a few months. We’ll give you a realistic estimate based on current market data and a tailored marketing strategy.

Key documents generally include:

• Original Title Deed: Proof of ownership.
• National ID/PIN Certificate: For individual sellers.
• Spousal Consent: If applicable and property is jointly owned or matrimonial property.
• Land Rates & Rent Clearances: From the county government and Ministry of Lands.
• Valuation Report: Sometimes required by the buyer’s lender.
• Utilities Bills: Latest water and electricity bills.