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maskana
#1 Posted : Saturday, October 08, 2011 11:43:32 AM
Rank: New-farer


Joined: 1/8/2011
Posts: 48
Location: muranga
Hi wazua.
I need your help on how or which methods used when valuing a property in Kenya.please note am not in a position where I can buy news papers and see classification my myself,I do rely with my lawyer but on this occasion I have my doubt the value of the house is on upper side.
Sample this I bought this house 10 years ago at 2.5m..
Really, is current value of the said property 6m?
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Gordon Gekko
#2 Posted : Saturday, October 08, 2011 2:39:57 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
So what exactly is your question? Knowing how to value houses or asking if your investment could possibly be worth what you mention?
As for the first question, supply and demand dictate, as for the latter, it is possible. I bought a flat for 2.2M in 1999, I can get 5.5-6.5M today for it.
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Lolest!
#3 Posted : Saturday, October 08, 2011 3:07:03 PM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
A real estate valuer should be in a better position to give you valuation of your property. The value will depend on the purpose eg for insurance or selling or for loan purpose? The valuer will even advise on the price u should quote for if you want to sell
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maskana
#4 Posted : Sunday, October 09, 2011 1:18:47 AM
Rank: New-farer


Joined: 1/8/2011
Posts: 48
Location: muranga
Gordon Gekko wrote:
So what exactly is your question? Knowing how to value houses or asking if your investment could possibly be worth what you mention?
As for the first question, supply and demand dictate, as for the latter, it is possible. I bought a flat for 2.2M in 1999, I can get 5.5-6.5M today for it.


Thanks Gordon
I have been holding paper title in someone else names and I bought the bungalow in 2000 but now I want full transfer to my name..but land ministry want the property valued so that I pay 4% tax..when I saw valuation report my first reaction was lawyer taking me for a ride..but through Gordon I can see the light and had concluded to pay tax. I wouldn't be needing the formulation or method..
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