Introduction to Guide to Buy Lombok Property For Sale
The primary focus of this guide to buy Lombok land for sale is to explain how to buy raw land (non-certified land) on Lombok Island. The guide also provides information regarding ownership legislation useful when buying other property as well, for example certified land. Today you can find all sorts of projects where you can buy certified land in small plots or medium sized plots as on this web site.
Guide to Buy Lombok Land For Sale
Buying raw land is more risky but can be more beneficial financially if you have the knowledge to avoid scams and proceed with the transaction with good timing. Good timing is to buy when someone really needs to sell to afford for example tuition fees or a marriage ceremony. To buy Lombok land for sale before a major infrastructure improvement is finished is beneficial to do. This is easy to succeed with now since there are many infrastructure improvements ongoing and planned, but this is common knowledge to all investors and less valuable information. Lombok is under major development now and for the next five years, which makes today a golden property purchasing opportunity.
Guide to Buy Lombok Property For Sale
1.2 Investment Strategies
1.4 Living On Lombok
2.1 Get familiar with Lombok
2.2 Choosing a Partner(“Nominee”)
2.3 Find a parcel of Land
2.4 When You Find a Parcel
2.5 Negotiate the Price
2.6 Comprehensive Due Diligence.
2.7 Initiate Title Transfer.
2.8 Issuance Land Certificate
3.1 From Tourist to Resident
3.2 Explore the Hidden Lombok
3.3 Starting a Checklist
4.1 Foreigners cannot own land in Indonesia
4.2 Foreigners invest and occupy land in Indonesia
4.3 The Nominee Method and Right of Ownership
4.4 Foreign Direct Investment and Right to use Building
4.5 Right to Use (Hak Pakai)
4.6 Land Lease with Civil Contract
4.7 Lombok Property & Land External References
5.1 Start Looking Early
5.2 Wide Variety of Skills
5.3 Other Trustworthy People
5.4 Check if Trustworthy
6.1 General Warnings Lombok Property Guide
6.2 Real Estate Offices
6.3 Real Estate Websites
6.4 Local Guides
6.7 Road Signs
7.1 Initiate Early Discussions
7.2 The history of the land
7.3 Get to know the Players
7.4 Slowly Get to the Price
8.1 Clear access
8.2 Public facilities
8.3 Everything Belongs to you?
8.4 Check the Drainage
8.5 Check the Stability
8.6 Double Check Everything
9.1 Necessary Preparations
9.2 Establish Proper Atmosphere
9.3 Conduct the Negotiations
9.4 The Issue of Parcel Size
9.5 Money is Not the Only Issue
9.6 Giving a Deposit?
10.1 Put it in Writing?
10.2 How do I Pay Money?
11.1 Risk versus Benefit
11.2 Due Diligence
11.3 Checking Public Record
11.4 Digging for the Unwritten Truth
12.1 Settling the Final Terms
12.2 Notaris – Initiate Title Transfer
12.3 Sign the Nominee Agreement
13.1 Recordation and Issuance of the Land Certificate by BPN
The guide is inspired by and based on Gregory Lloyd Luke’s “The Complete Guide to Buying Property in Lombok”. Gregory Lloyd Luke acquired extensive knowledge of the Lombok property market during his twelve years on the Island. Gregory Lloyd Luke sadly passed away in 2013 and we hope that he does not mind sharing the structure and information since it can benefit so many more people in the future. Please contact us if you are an heir to Gregory Lloyd Luke and want to make changes to this guide or the credits. Thank you.
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