FREQUENTLY ASKED QUESTIONS PRIOR TO PURCHASING PROPERTY

1. How do you purchase a property at Vipingo Ridge?

 Once a property has been selected, Vipingo Ridge issues the purchaser with a Letter of Offer. The purchaser will then need to place a deposit to secure the property. Vipingo Ridge Ltd grants a 99 year lease, from December 2006, on the property and the sale structure would also include shares in Vipingo Ridge Ltd.

 
2. Can a non-Kenyan citizen or company incorporated outside Kenya purchase property in Vipingo Ridge?

There are no restrictions to foreign nationals or foreign registered companies owning property at Vipingo Ridge.

 3. Can the title documents be used as a security?

 
Most banks and financial institutions in Kenya accept long leases as security. Terms and conditions and requirements of institutions vary. If you are considering financing your purchase, we can assist you with contacts of financiers that we work closely with, to establish the requirements from them directly.

4. Are there any taxes or duties payable on the acquisition of a property in the Resort and share in Vipingo Ridge?

Stamp Duty is 2% of the value of the property and the share price is 1% of the same. In addition, incidental charges, costs for registration of the lease, plus any other related legal costs and disbursements will be payable by the purchaser. A full schedule of legal costs can be obtained on request.

5. Can one purchase a property in the development and not a share in Vipingo Ridge or vice versa?

The right to purchase a property is conditional upon the agreement to purchase a share. Both purchases will be completed simultaneously.

6. Are there any development restrictions on the property?

 In order to maintain high standards, aesthetics and ambience within Vipingo Ridge, all building will be subject to planning restrictions. Construction on plots must be completed within 24 months of the registration of the Sub-Lease document. There are a comprehensive set of Rules Design & Construction Regulations which govern the building of properties at Vipingo Ridge. The main objective is to safeguard the external aesthetics of the entire development.

7. Are there any rules governing the use and occupation of the property?

In addition to the terms and conditions set out in the lease, you will be required to follow the comprehensive Home Owners Association Rules which are available on request.

8. When can we start building on our undeveloped property?

Once the sales process is complete and the property designs approved, you can start building immediately. The entire infrastructure such as water and electricity supply is in place and most of the access roads are complete.

9. Why are there building regulations for the undeveloped properties?

The exhaustive building regulation document is to ensure that everyone gets the most from this beautiful estate. The rules are designed to ensure that no one’s views are obstructed and that the development has a cohesive harmony in style and feel.

10. What are the terms of purchase?

It is all very straightforward and follows international norms. Full details of the sales process are available on request.

11. Are there management charges or green fees?

 Yes. Full details of both are available on request.

 12. Can we visit Vipingo Ridge now?

Yes. There is a sales and management office on-site and arrangements can be made to take you around the site.

 13. How can I contact Vipingo Ridge if I am interested in buying property?

Send me an email on, bilha@vipingoridge.com, sales@vipingoridge.com

To book a site visit or for further information. Or call us directly on: +254 (0) 734 611 009 or +254 (0) 0728999806

 

 "The Social Benefits of Homeownership".  When you purchase a home in a community, you are putting down "roots" and have a vested interest in the community that you call home.   This leads to success in education, increased civic participation, and health benefits.  And, you should feel a sense of pride in what you have accomplished!