How to Purchase Real Estate in Bali hassle free with BVR property

Blog 67

Let’s explain the process for purchasing any Real estate investment, or residence in Bali in a little more detail. It may seem daunting when you first start the process, but it can be easy with the right Real estate agency as your property partner.  

Today we will discuss the process in a bit more detail

1. Find the perfect property, with the location you seek, and make an offer

2. Once the price has been negotiated and a formal offer has been signed by all parties (Buyers and Seller) then you can move onto the next steps

Remember, whether you in Bali or doing the purchase remotely the process should remain the same. Travelling can be restricted due to commitments or holidays taken, so we have you covered.

Purchasing Freehold Properties / land and the process:

(Freehold / Hak Malik / HGB / Hak Pakai) – All fall under the Freehold title in Indonesia

1. Agree to the price of the property (written communication is always best)

2. Let your agency draft an MOU / Offer agreement / PPJB and get all parties to sign this document via e-sign or in person – This is a legal document and serves as the agreement that the property is reserved. Please note, that without a holding deposit or a 10% required deposit the property cannot be held back. There will normally be a 7 working day clause allowing you time to transfer the deposit funds

3. Make the required deposit payment to the chosen notary’s account for the Due diligence period to start

4. A valid Power of attorney signed and legalised according to the rules of each country will need to be provided to a trusted representative should you not be available in Person to sign the AJB documents (Akta Jual Beli)

5. Finally, the deed transfer will take place from the previous owners to you and you will become the rightful owner

Leasing Leasehold titles and the process:

(Leasehold / Hak Sewa) – Leasehold title names in Indonesia

Leasehold being the best and most popular under the foreign investment market, its an easy and uncomplicated process with the right help

1. Agree to the price of the property (written communication is always best)

2. Let your agency draft an MOU / Offer agreement and get all parties to sign this document via e-sign or in person – This is a legal document and serves as the agreement that the property is reserved. Please note, that without a holding deposit or a 10% required deposit the property cannot be held back. There will normally be a 7 working day clause allowing you time to transfer the deposit funds

3. Make the required deposit payment to the chosen notary’s account for the Due diligence period to start – This is normally between 7-14 working days depending on property. The notary will run an official due diligence to make sure that all the legalities of the property is correct and a transfer of the property can happen.

4. The final draft lease agreement will be drafted by your chosen notary and you will need to approve the documents. 

5. You will need to make settlement on the said property the same day as signing the lease agreements in front of a legal notary of your choosing unless otherwise stipulated in the offer agreement with a valid POA

6. You will sign the transfer leases and become a owner of a new property or land

Whether you are in Bali for this process or doing it remotely, at BVR property we assist our clients in making sure that the process runs smoothly. Buying Real estate can be a seamless experience with the right people by your side making sure that everything runs as it should.  

Contact us today to start this wonderful and exciting journey