How do I buy real estate in Bali?

by BidStream Bali Team • 2 MIN • 288 Words

How do I buy real estate in Bali?
Here are the steps:

1. Contact your friendly BidStream Bali real estate agent and give them your property requirement.

2. Select your favorite properties and make an appointment to view them.

3. Submit a Signed 'Offer to Purchase Document for your dream property to initiate the negotiation

4. Choose a Notary/ PPAT – after acceptance of your offer to purchase or ask your BidStream Bali real estate agent to recommend one.

5. Sign a binding "Sale and Purchase" agreement to clarify the terms and conditions

6. Transfer a deposit to the notary escrow account (usually 10% of the purchase price) to secure your investment. With the receipt of the deposit, the property will be taken off the market and restricted from selling to any third party.

7. Due Diligence – After your deposit has been received, the notary will start the process of due diligence which takes on average 14-30 days, depending on the property ownership title and the location of the property.

8. Completion of Legal Due Diligence – Once the due diligence is satisfactory, you can make an appointment with the notary to sign the final sale and purchase deed (Lease transfer deed). In case of non-satisfactory due diligence, the notary will refund 100% of your deposit.

9. Sign and process balance payment – Once you have signed the final "Sale and Purchase" deed (lease transfer deed), with the seller, in front of the notary, you can transfer the balance payment to the nominated bank account of the seller.

10. Take Possession of the Property – once the final payment has been received by the seller, you will meet at the property for a handover. Your BidStream Bali real estate agent will hand you the keys!

Real Estate AgentOfferNegotiationNotaryPPATSale and Purchaseescrowdepositdue diligencelegallease transfer deedpossession
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