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HOW TO BUY A HOUSE THAT HAS A MORTGAGE.
Buying a house in Uganda is a dream for many, but what happens when the house you want already has a mortgage? Should you walk away? Not necessarily! With the right approach, you can secure a mortgaged property safely, without unexpected surprises. Here's how to do it the right way.
Start with a Title Search (Know What You're Dealing With).
Before you get excited about the house, do a title search at the Ministry of Lands, Housing, and Urban Development. This will reveal:
Who the actual owner is (not just the seller's claims).
If there's an active mortgage on the house.
Any legal encumbrances like court disputes or caveats.
You can do this yourself or hire a trusted lawyer or real estate expert. Never skip this step, it's your first line of defense!Please note that not all banks register every mortgage, so some title searches at the land office may not reveal a mortgage even if the house is mortgaged. This is especially common if the mortgagee is a long-time client of the b
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WHY ALL REAL ESTATE AGENTS NEED TO JOIN THEIR ASSOCIATION.
Real estate is a highly competitive and dynamic industry that requires its practitioners to stay updated with the latest trends, regulations, and practices. While many agents work independently, it is essential for them to belong to a professional association such as the Association of Real Estate Agents (AREA). In this article, we will explore the reasons why all real estate agents need to be members of AREA and the benefits that membership offers.
Advocacy and Lobbying Efforts
One of the primary reasons why real estate agents need to be members of AREA is the advocacy and lobbying efforts that the organization provides. AREA is a professional association that advocates for the interests of real estate agents and brokers, as well as for the rights of property owners. The association works with government bodies and regulators to develop policies that promote a thriving real estate industry, protect homeowners' rights, and improve industry standards. As a member of AREA,
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IS IT SAFE TO BUY AGREEMENT LAND IN UGANDA?
Buying land in Uganda is a big decision, and for many, agreement land, often called Kibanja in the Buganda region, seems like an easier and more affordable option. But is it really safe? The short answer is "yes", and the long answer is "it all depends". While agreement land can be owned in perpetuity, there are a few important things to consider before making that purchase.
Let's break it down so you can make an informed decision.
What is Agreement Land?
Agreement land, or Kibanja in Buganda, refers to land that is owned based on an agreement between the buyer and seller, often witnessed by local authorities, family members, or brokers. Unlike titled land, it is not formally registered in the national land system, which means ownership relies on documented agreements rather than an official land title.
That said, Kibanja land isn't necessarily insecure, you just have to navigate it the right way.
The Risks of Buying Agreement Land
While it may be tempting to go for agreement l
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