F.A.Q



Why this is great value for you

  • Do you wish to live in a quiet, secure, well managed and cared environment with membership privileges to recreational facilities, including a golf club?
  • Do you enjoy a healthy and active lifestyle in a place that offers plenty of recreational activities and sports (jogging, walking, running, high-altitude training, tennis, swimming, horse-riding, mountain climbing, ecotourism, wildlife viewing, etc) in a scenic and beautiful landscape?
  • Do you play recreational or competitive golf?
  • Do you prefer your residence a long a scenic slope, within a golf course and next to wildlife corridors?
  • Do you plan to retire to a secure, well serviced environment with custom-made health and fitness recreational facilities (in other words, do you desire ACTIVE retirement)?
  • Do you desire a country home that is managed throughout the year for your use and for rental when you are not using it?
  • Are you a tour operator who wishes there was a high quality tourist facility in the North Rift/Western circuit – such as a 5-Star Hotel in a wildlife resort?
  • Do you wish to live in a planned satellite city within easy reach of a major city and airport?
  • Do you wish to own an asset whose value is guaranteed to increase over time?


Sergoit Golf and Wildlife Resorts is great value for you because it is designed to cater for all these varied needs. When you buy property in Sergoit Golf and Wildlife Resorts, you are buying excellent security, access to first-class recreational facilities, healthy living, prosperity, prestige and peace of mind.

 

Frequently Asked Questions (FAQs):


1. Who are the developers?

Sergoit Holdings Limited


2. When will Phase One of the project be completed?

The projected completion date for Phase I is June 2012.


3. Why are you selling plots and not houses during Phase One?

This is our business strategy and project design. The plan for Phase II is to sell both plots and houses.


4. Price and payments

What are the payment requirements for the Purchase Price?

The Purchase Price should be fully paid within 6 months from the date of the acceptance of the Offer and payment of the deposit.


5. Terms and procedure of purchase

a) What are the terms of purchase?

The terms of purchase are contained in the Letter of Offer which is available on request from the Sales and Management Office or via email as per the purchaser’s request.

b) How do you purchase a plot at Sergoit Golf & Wildlife Resorts?

Once a plot has been selected and the purchaser has filled in the Booking Form, he/she/it will be issued with a Letter of Offer by Sergoit Holdings Limited.

• The purchaser should then accept the offer in writing and pay a deposit of 25% of the purchase price to secure the plot. After accepting the Offer, the purchaser will execute the Agreement for Sale and upon completing the payment of the purchase price, he/she/it will be issued with a 99 year Lease of the Plot (title).

• The purchaser will also be issued with one (1) share in the Management Company.

c) Are there any other taxes or duties payable on the acquisition of a plot in the Resort and share Sergoit Resort?

A purchaser is required to pay stamp duty on the Plot which is 2% of the value of the plot and to also pay stamp duty on the purchase of the share which is 1% of the share price. Please note that the stamp duty is subject to valuation of the plot by the Government Valuer.

• In addition to the stamp duty, the purchaser shall also pay registration fees and any other related legal costs and disbursements. A full schedule of legal costs can be obtained on request.

• The purchaser will also be required to pay service charge in respect to the particular plot. This will be advised later.

d) Can a non Kenyan own property or company incorporated outside Kenya purchase property in Sergoit Resort?

• There are no legal restrictions to foreign nationals or companies incorporated outside Kenya owning property at Sergoit Golf & Wildlife Resorts.


6. Shareholding

a) Can one purchase a plot in the development and not a share in the management company or vice versa?

• No. Each plot owner is a shareholder in the management company therefore the purchase of the plot must be done simultaneously with the purchase of the share in the management company.

b) If you own the land/plot are you a shareholder in the Management Company?

• Yes, but only of the Management Company that will manage the property on behalf of residents.

c) As a shareholder in the Management Company, am I entitled to dividend?

• No, the purpose of the Management Company is to manage the Property and not generate income for the shareholders. It is to manage the common areas and provide the common services for example security and cleaning services. It is also responsible for enforcing the rules and regulations of the controlled development to ensure that the character, style and feel of the development is maintained.

d) Will one have the right of representation in the running of affairs of Sergoit Resort?

• Owners will automatically become members of the Home Owners Association which will be entitled to representation on the Board of Directors of the Management Company


7. Financing

a) Can the title documents be used as security for a loan?

Yes. Most banks and financial institutions in Kenya accept long leases as security for loans. The terms and conditions of the loans vary from institution to institution and also depend on the requirements of the potential borrower.

b) Who are the (potential) financiers?

• We are partnering with Kenya Commercial Bank Limited and Co-operative Bank Limited who are offering several mortgage products to interested Purchasers.

c)  How do I get a loan or mortgage to buy the property?

• You apply to either KCB or Co-operative Bank (with whom we have arrangements) or to any other bank of your choice and obtain a loan to purchase the plot and or to build the house. Financing is however subject to the qualifying for the loan and the Purchaser meeting the set requirements of the particular Bank/Financial Institution.

d) What types of financing are available?

• Both Kenya Commercial Bank and Co-operative Bank offer different types of loan including mortgage and construction financing.

• These banks also have financing products to cater for people in the diaspora


8. Development and Construction of the houses

a) How will you ensure houses/villas get built on the plots? Is there a timeline?

This will be a controlled development in which a 24 month period from the date of completion of payment is provided for completion of the construction. Details on construction financing may be obtained directly from both Kenya Commercial Bank and Co-operative Bank or any other Bank of your choice.

• The developer is considering appointing a panel of construction consultants to enable the Purchaser select a contractor of his/her choice from one of the pre-approved consultants.

b) What type of houses can one build?

• There will be six house designs that a plot owner can choose from.

c) How do you intend to release completed houses while others are still under construction?

• Construction of the houses will go hand in hand with the infrastructure development.

d) Can I be allowed to sell my undeveloped plot or incomplete house?

• Yes but subject to consent from the Developer. If the purchaser has fully paid but is unable to start construction on his/her plot, or starts but is unable to complete it, the developer will explore exit options for the purchaser including allowing the purchaser to sell the plot back to the developer or to any other purchaser his/her terms and conditions.

e) What is the average price of building a house on the plot?

• The price depends on the house design selected by the purchaser and the quality of finishing of the house.

f) Are there any development restrictions on the plot?

• In order to maintain high standards, aesthetics and ambience within Sergoit Golf & Wildlife Resorts all buildings will be subject to planning restrictions.

• Construction on plots must be completed with 24 months from the purchase of the plot.

• There is a comprehensive set of rules and regulations which govern the construction of houses at Sergoit Golf & Wildlife Resorts. This can be obtained on request.

• The main objective is to maintain the external aesthetic of the entire resort.

g) Why are there building regulations for the undeveloped properties?

• The exhaustive building regulations will ensure that everyone gets the most from this beautiful development. The rules are designed to ensure maximum enjoyment of one’s property for example great scenic views and that the development has a cohesive harmony in style and feel.

h) When can a purchaser start building on the plot?

• Once the sale and registration process is complete and the house designs approved, a purchaser can immediately commence construction.

• Infrastructure development will go hand in hand with the construction of the houses.

i) Are there any rules governing the use and occupation of the plot?

• In addition to the provisions set out in the Lease, the purchaser will be required to follow the comprehensive Home Owners Association Rules which can be availed to the purchaser on request.

j) Will home owners be entitled to rent our their properties?

• Yes, Sergoit Golf & Wildlife Resorts will offer a management and letting services to owners.

• Owners may also let out their houses directly to tenants if they so wish.

THE SERGOIT GOLF & WILDLIFE RESORT CONCEPT.

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