1 – Research and decide on a location. Look into Bali’s several neighborhoods to choose which one best meets your needs and preferences. For example: Number of bedrooms, style, design, home to live or investment. It is also important to know your budget.
2 – Find a reputable agent: look for an agent that has a good reputation and experience in the Bali property market.
3 – View and visit potential properties with your agent, he will be able to take you to discover potential properties that fit with your needs.
4 – Make an offer: once you have found a property that you like, make an offer with your agent to the seller or developer. Once the offer is accepted your agent will prepare a preliminary binding of sublease agreement. That you will sign with the seller.
5 – Choose your notaries and send a deposit to their bank account, usually its 10 %.
6 – The notaries will conduct due diligence: before finalizing the purchase, it is important to conduct due diligence on the property, such as checking the ownership and any outstanding debts, zoning…
7 – Signing of the notarial deed: once you are satisfied with the due diligence, the notary will prepare the notarial deed that you will sign with the sellers in front of the notary.
8 – Transfer ownership: once the notarial deed is signed, the process of transferring ownership will begin.
9 – Once the total amount has been paid to the seller you can take possession of the villa and the ownership is transferred.
The notary fee for leasing a villa in Bali can vary depending on the value of the property and the specific services required. In Indonesia, the notary fee is typically a percentage of the property value, and it ranges around 1%. All the other fees are included in the price of the villa.
Additionally, it’s a good idea to work with a reputable local real estate agent who can help guide you through the process of buying a villa in Bali and ensure that all legal requirements are met, and all necessary documentation is in order.
In Bali, leasehold contracts are commonly used for foreign investors. By entering a leasehold contract, the investor can use and occupy the property for a certain period but does not have the full rights of ownership.
You can extend the lease period at any time during the lease contract if the landlord agrees, in the lease agreement a price and a period for extension can be negotiated with the landlord in advance.
If the lease is not extended by the end of the lease period, then the property and the land are going back to the landlord (this is extremely rare).
You can sublease and transfer the property at any time during the lease period.
It’s important to carefully review the terms of the leasehold contract before signing, to ensure that you understand your rights and responsibilities as a lessee and to make sure that the terms are fair and reasonable. It’s advisable to seek legal advice before signing a leasehold contract in Bali.
To extend a leasehold in Bali, the process typically involves negotiating an extension with the current landlord, drafting and signing a new lease agreement, and registering the new lease with the local government. It may also involve paying any associated fees and taxes. It is important to ensure that all necessary legal steps are taken and that the lease extension follows Indonesian laws and regulations.
Determining the market price of a leasehold extension in Bali can be a complex process, as it will depend on the variety of factors such as the location and the condition of the property, the length of the proposed lease extension, and current demand for similar properties in the area. The best is to consult three different agents and average the three prices. They will be able to provide you with information on comparable properties and their prices, which can help you to determine a fair market price for your leasehold extension. Additionally, you can look at the leasehold price of similar properties in the area and use that as a benchmark to determine the price of your leasehold extension. VERY important, the price of the extension is the price of land only, not the property.
Freehold is a type of ownership in which a person or entity has the right to own and use an asset indefinitely as long as it complies with legal restrictions or regulations. This is in contrast to leasehold property, where an individual or legal entity has the right to use a limited period of time.
Only citizens can own real estate in Indonesia. Foreigners are not allowed to own property in the country and can instead only own property through a lease. This means that foreigners can only own and use property for a certain period of time, after which the property will be returned to the Indonesian landlord.
An off-plan project, also known as a pre-construction project, is a real estate development project that is planned, designed, and built before it is sold; this typically refers the new construction projects that are being developed by a developer and sold refers to buyers, usually with the promise of a finished product at a future date.
Off-plan projects usually offer a variety of property types, such as apartments, house, or townhouses, and buyers can choose from a range of options, such as different floor plans, finishes, and upgrades. The buyer will usually pay a deposit to reserve their chosen property and make further payments as the construction progresses.
One of the main advantages of buying off-plan is the potential for price appreciation. As the property is not yet built, the developer can offer a lower price compared to a completed property, and the price of the property may increase as the construction progresses.
With Bali market increasing, the goal of purchasing an off-plan villa is to buy it at today’s market price and instead of getting it at a much higher price following the increase rate of the market when it will be finished.
The last advantage is that the villa will be brand new and you will be the first to live in it.
It is also important to have legal representation to review the contract, and make sure you understand the payment schedule, the completion date, and the rights and responsibilities of both parties.
An off-plan property is a property that is sold before it has been built or is under construction. The guarantees of an off-plan property can vary depending on the developer and the specific project. However, some common guarantees that are often included in off-plan property purchases include:
- Completion date guarantee: The developer guarantees that the property will be completed by a certain date and will get penalties for late delivery,
- Quality of construction guarantee: The developer guarantees that the property will be built to a certain standard of quality.
- Title guarantee: The developer guarantees that the title to the property is clear and that the buyer will have good title to the property upon completion.
It is important to note that these guarantees can vary and it is important to review the details of the guarantees in the sales and purchase agreement before making a decision to purchase an off-plan property.
The payment terms for an off-plan villa in Bali can vary depending on the developer and the specific project. However, some common payment terms that are often included in off-plan villa purchases in Bali include:
- Reservation deposit: A small deposit is required to reserve the villa: 10 %
- Down payment: A percentage of the purchase price is usually required as a down payment.
- Progress payments: Additional payments are made as the construction of the villa progresses.
- Final payment: The remaining balance is due upon completion of construction and transfer of ownership.
It is important to note that these terms can vary, and it is important to review the details of the payment terms in the sales and purchase agreement before making a decision to purchase an off-plan villa in Bali.
1- Determine the value of your property: Before listing your property for sale, it is important to get a professional appraisal or comparative market analysis to determine its fair market value.
2- Prepare your property for sale: Make any necessary repairs or improvements to your property to make it more attractive to potential buyers. This may include cleaning, decluttering, and staging.
3- List your property for sale: Once your property is ready, list it for sale with a reputable agent as us who has experience in the Bali property market. Make sure to provide detailed information and high-quality photographs of your property.
4- Advertise your property, your agent will help you to advertise your property.