FAQs

We operate predominantly in all major towns for sale transactions but we are based in Nairobi

We offer both exclusive and open or joint mandates. In exclusive mandates, Sanele is solely responsible for the sale of your property while using the open mandate, sanele can work jointly with property agents of your choice towards the marketing and sale of your properties

Sanele will charge a fee as a commission for the successful sale or letting of your property. The charges will vary on the location of the property together with other costs incurred in the process.

For projects, Sanele will advise the client on additional marketing materials and costs to be attached to that for the client’s involvement in addition to the other methods for marketing employed by the firm

A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like: Economic disruption - a big employer shuts down operations, laying off their workforce.

• Interest rates are trending higher, reducing the amount of money people can borrow to buy a home because the cost of money is higher, thus reducing the total number of potential buyers in the market. Home prices drop to meet the level of demand, and buyers find better deals.
• Short-term interest rate drops can give borrowers a temporary edge with more purchasing power before home prices can react to the recent interest rate changes.
• High inventory – a new subdivision and can create downward pressure on prices of older homes nearby, particularly if they lack highly desirable features (modern appliances, etc.)
• Natural disasters - a recent earthquake or flooding can tank property values in the neighbourhoods where those disruptions occurred.

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers
of demand:

• Economic factors – the local labour market heats up, bringing an inflow of new residents
  and pushing up home prices before more inventory can be built.
• Interest rates trending downward – improve home affordability, creating more buyer
  interest, particularly for first-time home buyers who can afford bigger homes as the cost
  of the money goes lower.
• A short-term spike in interest rates - may compel “on the fence” buyers to make a
  purchase if they believe the upward trend will continue. Buyers want to make a move
  before their purchasing power (the amount they can borrow) gets eroded.
• Low inventory - fewer homes on the market because of a lack of new construction.
  Prices for existing homes may go up because there are fewer units available.

• Getting pre-approved for a mortgage is the first step.
• Getting a pre-approval letter from a lender gets the ball rolling in the right
  direction.

               Here’s why:

• First, you need to know how much you can borrow. Knowing how much home
  you can afford narrows down online home searching to suitable properties, thus
  no time is wasted considering homes that are not within your budget. (Pre-
  approvals also help prevent disappointment caused by falling in love with
  unaffordable homes.)
• Second, the loan estimate from your lender will show how much money is
  required for the down payment and closing costs. You may need more time to
  save up money, liquidate other assets or seek mortgage gift funds from family. In
  any case, you will have a clear picture of what is financially required.
• Finally, being pre-approved for a mortgage demonstrates that you are a serious
  buyer to both your real estate agent and the person selling their home.
• Most real estate agents will require a pre-approval before showing homes - this is
  especially true at the higher end of the real estate market; sellers of luxury homes
  will only allow pre-screened (and verified) buyers to view their homes. This is
  meant to protect the seller’s privacy.