A guide to selling your first house

Posted on May 05 2020
in # Commercial Real Estates# Finance and Investment# Market Insights
4 min read
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Selling a property can sometimes be a daunting task, more so if you intend to sell it and acquire another home. Whether you are dealing in Flats & Apartments for Rent in Nairobi or Plots of Land for Sale in Kenya; one needs smart selling skills in order to make a sale on houses in kenya.

Also, we must point out that it is like a mammoth experience to someone who has never sold a property before. Well, most of the decisions you make during this phase can actually save you or cost you lots of thousands.

Closing a real estate deal especially for houses for sale in the city and affordable off-plan housing projects could be a headache to any realtor. Recently, most of our blog readers have sent us article equests on the need for some insights on this real estate selling topic; therefore, this article is here on demand.

If you would love to be more informed on how you can sell your house, then we have got you covered. Here is everything you need to know about the home selling process in the country. Should you consider disposing of your house? House for sale

Image: Dreamstime

In some circumstances, it is not best to sell off your home. For instance, if you would like to add more rooms and space, it can be recommendable to just extend it, dig that basement you need, change to those kitchen cabinets you admire or renovate your ceiling rather than putting it in the market. Maybe you are thinking of downgrading? Well, you can go ahead and advertise it. Also, you should consider renting it out if you are moving to another town or area rather than selling.

How to sell a house in Kenya Whether you are familiar with the selling process or not, the following factors should be taken into account.

1. Your mortgage

If you have a mortgage in the property in question, then it is always brilliant to contact your lender asking for your settlement figure and balance. This will help you determine your equity so that you can budget properly. With this knowledge, you will also be very sure about what you will expect as profit. If you are buying a new property somewhere, then you should also consider the equity you will use from sales to purchasing the new home. For instance, if your loan stands at Ksh. 2,000,000 and you will dispose of the house for Ksh. 8,000,000. You will pay the 2,000,000 credit and remain with around Ksh. 6,000,000.

2. Instruct your company or agent

Next, you should decide on how you are going to dispose of it. You can use a reputable street or online agent, a quick-sell facilitator or just do it by yourself. If you opt to use an agent, then you need to trust him/her. Make sure they have good reviews and reputation. Remember this is a long delicate process. Hence you need to make sure you have an agent whom you get along with.

3. Set a price

Your house should be valued to determine its worth. You can do so via an online valuation agency or any local real estate agent. A valuation only gives you a guide on the recommended price. It is actually you who should decide how much to sell it. Here, make sure you go a bit higher than the recommended price so you can give a room to people with lower offers.

4. Make the houses for sale kenya ready

It is always sensible to make all rooms tidy and looking their best. If possible, get a fresh paint coating, patch any marks on the walls, repair broken windows and so forth. Make sure that the house has enough lighting. Keep all the windows clear, open all the curtains so that prospective buyers can clearly see the property.

  1. Use the services of a solicitor Solicitors can be expensive. However, they are so handy as they are experienced in selling and buying houses. This will reduce lots of headaches and stress during the entire process.

6. Wait for offers

You should be patient enough as this is more of a waiting game. When you receive an excellent offer, don’t be so excited, you have a long way to go before handing the property over.

7. Negotiate with buyers

Once you receive an excellent offer, you need to work with your solicitor. You should also be keen to answer all the questions asked by the buyer. Haggle the selling price. Do not go below the recommended amount. You should obviously dispose of the property to the person who quotes the highest price.

8. Sign a contract

Once both parties are satisfied with the deal, then an exchange should occur. Contracts are signed before legal practitioners. This means that should the buyer pull out, he or she will lose his/her deposit, as you will too.

9. Complete the sale

Officially hand the property to the buyer. You should transfer all the house ownership documents to the party. Next, you need to move out by the agreed date of exchange. Make sure you don’t move out with valuable items such as cabinet keys and so forth. House Keys

Image: 99.co

10. Pay off your debts

Once you have received the full amount from the buyer, you should pay your mortgage, solicitor and any other parties involved. This is the final step to selling a house in Kenya. Still not sold?

Well, At Hao Finder, we connect clients like you to potential buyers. As an ICT company, we employ all the relevant technologies to make sure your house gets a willing procurer as fast as possible.We will help you get affordable Flats and Apartments for Rent in Kenya, Nairobi or Property for Rent in Nairobi without a leg walk.

Hao Finder (www.haofinder.com) is an IT and Real Estate Startup in Africa with headquarters in Nairobi, Kenya. This business is helping Africans access affordable and sustainable housing and accommodation through their local network of verified property search assistants (Hao Finder Ambassadors)

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