Processes Days
1 The member to choose from a catalogue the building design and cost 1
2 Check the eligibility based on estimates, the actual costing to be established after the Koto team visits the member’s land.
3 The Koto team to visit the land and give actual cost to be incurred in constructing the house. 2
4 Confirm the loan eligibility based on cost given by Koto and advise member on amount to apply.
5 Member to fill loan application and provide necessary documents. 2
6 Provide the member with a list of Valuers & Lawyer to choose.
7 Valuation process of the land. 5
8 The loan application is presented to the Credit Committee for approval 30
9 Charging process of the land.
10 Disbursement of down payment to be done. Koto to start building the house, Sacco’s project manager supervises the building. 30
11 After the building is completed, remittance advice sent to the member to effect deductions. 1
12 Further charge of the property after building is completed. 30
13 The building is insured (Sacco has partnered with CIC) 2

Costs to be incurred by the member:

  1. The initial visit by the Koto team to the land (commitment fees of Kshs: 100,000 which will be considered as part of the building.)
  2. Excavation and Land leveling cost – Depend on the land area and soil type.
  3. Valuation charges (1% of the value, minimum fees Kshs: 15,000)
  4. County Approval cost – Optional (Kshs: 50,000)
  5. Charging costs – (As stipulated in Advocate Remuneration order 2006)
  6. Building Costs – As catalogue

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