Hallo good people,

I have a client who is struggling to service their mortgage. To avoid foreclosure, the smart thing is to sell off the property.

Here are the facts;

Description - 3 Br bungalow in Ongata Rongai
200m from tarmac.
Valuation - March 2015 Kes.7M
Asking Price - 6M
Rent - 30,000/= per month.

Option 1 - Cash (price negotiable further)
Option 2 - Buyer pays a deposit and takes over
servicing of the mortgage.

Saidia tupate commission ya Christmas hapa.

Is it in its own compound? size?

Let your client let the bank do the selling with the new laws on mortgage foreclosures the bank must sell it at at minimum 80% of property valuation buy time and get a new 2016 valuation of 8.5m the bank will rather reschedule the loan giving you a lifeline to either clear arrears or sell at market rates. quick sales with a depressed market like now will not yield beyond 4m

Yes, with a perimeter wall and gate.

@streetwise, there is a very nice ted talk by Chimananda called the danger of a single story. I am afraid you have only heard one story about rongai i.e. traffic jams.

You haven't heard about the vibrant business opportunities. So much so, that Tuskys, Co-op bank and Bank of Africa have two branches each in Rongai. You may not know that there are 4 universities in the vicinity. That Equity bank Rongai is among the top 5 best performing branches in the bank.

Behind Masai mall, there are two bedroom apartments that go for 27k and they are fully let.