A Simple Guide to Buy Property with Bali Home Immo
You have contacted us and expressed your interest with one of our listings. Then our sales agent connects you with the property owner to negotiate on the price. Finally both parties agree with the price and are ready to take the next steps. In this simple guide, we will explain how the villa buying process with Bali Home Immo goes.
Buying Process from Overseas/Abroad/Remote
Bali Home Immo understands that not all of our clients have the privilege of free time to travel directly to Bali. Therefore, we accommodate such concerns to reduce the inconvenience to our clients abroad.
Freehold
If you want to buy a freehold property with Bali Home Immo while you are not in Bali, we have you covered. If you want to make sure about the requirements to buy a property, you can also check out this article here. Now, let’s get to the point.
1 . After negotiating the price with the property owner and reaching an agreement, our legal team will create a Memorandum of Understanding (MoU) and/or Pengikatan Perjanjian Jual Beli (PPJB), which is a binding sales agreement. This serves as proof that the property is reserved for you and no one else can buy it.
2 . You'll then digitally sign the MoU or binding sales agreement. We typically use Docusign for this purpose.
3 . Following your agreement, you'll make the deposit payment as previously arranged.
4 . Now, you'll need to initiate a Power of Attorney (PoA) process in your home country, adhering to Apostille regulations. You can nominate a trusted individual or our sales agent to represent you and sign the documents on your behalf. This is also when you'll make the remaining payment.
5 . Once the PoA and final payment are completed, your chosen representative will sign the Akta Jual Beli (AJB), or Sale and Purchase Agreement.
6 . After your representative signs the AJB, the title deed will be transferred from the previous owner to you, making you the new owner of a freehold property in Bali.
Leasehold
Leasehold properties are a popular choice for many foreigners investing in Bali. You can check this article here to know more about the requirements to have a leasehold property in Bali.
1 . Once you've agreed on the price and terms, our legal team will draft the MoU, which you'll sign digitally.
2 . After digitally signing the MoU, you'll make a deposit payment for the property.
3 . Next, you'll need to complete the Power of Attorney (PoA) process in your home country following Apostille regulations. You can nominate a trusted person or our sales agent to sign the documents on your behalf.
4 . Your chosen representative with PoA will sign the lease agreement in the presence of a notary.
5 . After the lease agreement is signed, you'll need to make the final payment as per your agreement.
6 . Once the final payment is settled, the lease agreement will be transferred to you, officially making you the new owner of a leasehold property in Bali.
Buying Process On-Site
Freehold
1 . After negotiating the price with the property owner and reaching an agreement, our legal team will create a Memorandum of Understanding (MoU) and Pengikatan Perjanjian Jual Beli (PPJB), a binding sales agreement. This document serves as proof that the property is reserved for you and no one else can purchase it.
2 . You'll then sign the MoU or binding sales agreement.
3 . Following the agreement, you'll make the deposit payment as previously arranged.
4 . Subsequently, the notary will conduct due diligence.
5 . Once due diligence is completed, you'll need to finalize the remaining payment and cover any necessary taxes.
6 . After the final payment, you can sign the final document, the Akta Jual Beli (AJB), or Sale and Purchase Agreement.
7 . With the AJB signed, the title deed will be transferred from the previous owner to you, officially making you the new owner of a freehold property in Bali.
Leasehold
1 . Once you've agreed on the price and conditions, our legal team will draft the MoU, which you'll sign digitally.
2 . After digitally signing the MoU, you'll make a deposit payment for the property.
3 . Next, the notary will conduct due diligence, which typically takes around 7 working days. This thorough process ensures all documents are in order.
4 . Following due diligence, you'll sign the lease agreement in the presence of a notary. The lease agreement becomes effective after you complete the payment.
5 . After signing the lease agreement, you'll need to make the final payment as per your agreement.
6 . Once the final payment is made, the lease agreement will be transferred to you, officially making you the new owner of a leasehold property in Bali.
Those are how the buying process works if you choose to purchase Bali property with Bali Home Immo. Regardless of where you are located, abroad or in Bali, we are fully prepared to provide you with first class service. In addition, you can explore our carefully selected collection of properties that includes land, apartments, villas and much more, not only in Bali but also in other regions.
Disclaimer: The information provided in this article is intended for general informational purposes only. It should not be considered as legal advice or used as a basis for any legal, financial, or real estate decisions. Bali Home Immo does not accept responsibility for any consequences or losses arising from the use of this article's content. We strongly advise all readers to consult with their legal team, financial advisors, or real estate experts before making any property-related decisions, investments, or legal agreements. Property transactions involve a range of complex legal and financial considerations that may vary based on specific circumstances. This article is not a substitute for professional advice, and its content may not reflect the most up-to-date legal regulations or market conditions since this article is written. Readers are encouraged to seek personalized guidance to ensure that their property transactions comply with all relevant laws and regulations and are in their best financial interests.
