Finance
Financing : What you should know
In the rare exception when financing is available then the following applies:
1)  Local mortgage rates run approximately 20% to 21% per annum. USD mortgage rates run
approximately 7.5% to 9.5% per annum.
2) If you think of borrowing at home you will find that most North American banks do not offer home or
property financing outside continental North America unless you take an equity loan on existing property
you own there or take out a personal loan. Most European banks operate the same.
3) Rarely will a seller offer to take back/hold financing (since he also paid cash and needs cash back  
to move on or purchase elsewhere).
WHEN A SELLER DOES OFFER FINANCING it is generally a term no longer than 3 to 5 years with a
minimum 50 to 60 % down payment of the sale price, at 4 to 6 % interest and equal payments to be
made so that the full balance is paid off during that 3 to 5 year period.

So you see that IF you are to find affordable financing it will usually be direct from the seller. In those
cases the seller will not transfer final title until the property is paid for. To protect your position the
lawyer will hold the title in trust and the conditions of sale etc are registered at the land registry office.
Upon payment in full the title is then transferred to you. This system works very well in most African
countries.

** PROPERTIES WITH FINANCING AVAILABLE FROM THE SELLER WILL HAVE A NOTE IN THE
LISTING INFO**  other wise there is none available.
What About Shared Ownership?
This is not a timeshare - This is actual ownership!
If you are not going to be in the country for more than 2 months a year this is something
you should look into. Why pay for the total cost of a home if you are only going to use it for
a few weeks or 1 month a year? Why not share that expense and get a bigger home at the
same time for less money?  For more information click on:
Vacation Homes.
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