The keys to a successful property purchase in Bali

At Sunset Real Estate Bali we are dedicated to delivering you a faultless and smooth service; from initial property search through to legal arrangements and handing over the keys. 
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We prepared a list to help you through the initial stages of making a purchase.

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PRE-AGREEMENT CONTRACT 

The pre-agreement contract is signed on placing a deposit on your chosen property, which usually is between 10% of the purchase price. The transfer will be made to the notary escrow account, to hold the deposit until the transaction is completed and this will ensure that the property is taken off the market. Your agent will be monitoring the process all the way through. 

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DUE DILIGENCE

Due diligence can take 14-30 days from the signing of the reservation contract. This involves checking various aspects, such as the current legal status of the property, existing agreements, and planning permissions. It also includes verifying ownership, title documents, zoning regulations, potential encumbrances, and outstanding taxes to confirm ownership and identify any potential issues.

SALES AND PURCHASE AGREEMENT

Once the due diligence has been successfully completed, both the vendor and the buyer enter into the sales and purchase agreement. It includes details such as the purchase price, payment terms, property description, and conditions of the sale. This agreement is prepared by the notary and signed by both parties.

Upon signing the sales and purchase agreement, a payment of 30%-40% of the purchase price is typically required, depending on the progress of construction and the initial agreement with the seller. The remaining balance is typically paid in installments over the course of the construction until its completion.

TRANSFER OF OWNERSHIP

The notary will facilitate the transfer of ownership from the seller to you. With all legalities in order, the notary facilitates the official transfer of ownership from seller to you. This involves paying necessary notary fees.

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BEFORE MOVING IN

There is always a lot to think about when moving in. At Sunset Real Estate Bali we have established a trusted network of local suppliers and services. We are happy to advise you with any practical services. 

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