- Due diligence is a must when buying land in Bali, where the legal can be complex, and the cultural & environmental factors unique.
- Not only will it protect your investment, but also help you understand things beyond the land.
- It is a crucial step that can make or break your investment.
Buying land in Bali is a dream for tourists and investors alike. But, before making any deal, make sure you don’t skip on doing land inspections. There’s a set of Bali land due diligence checklist you need to tick off!
These inspections can help you identify potential issues that may affect the value or use of the land and ensure that you’re making a sound investment.
To help you navigate them, we got you covered with Bali land due diligence checklist for a land inspection. From ownership status to environmental issues, we’ll cover it all for you!
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What does due diligence mean when buying land in Bali?
Due diligence is like conducting a detective investigation on the land you’re interested in buying. It involves checking every nook and cranny of the property to make sure it’s in good standing.
Bali land due diligence checklist includes land ownership, legal standing, environmental risks, and outstanding taxes. By digging into them all, you can avoid any nasty surprises down the line.
Why is Due Diligence Important When Buying Land in Bali?
Due diligence is especially important when buying land in Bali, where the legal can be complex, and the cultural and environmental factors unique.
In recent years, some foreign investors have fallen victim to land scams and disputes, losing large sums of money.
But that’s not all. You don’t want to end up with land where the legal status is unqualified or whose ownership history is unclear.
To avoid such situations, due diligence is a must! Not only will it protect your investment, but also help you understand regulations, avoid environmental hazards, and outstanding fees.
Bali Land Due Diligence Checklist
From verifying the legal status to ensuring taxes were paid, don’t skip this Bali land due diligence checklist during your inspection!
1. Verify the Ownership and Legal Status
You definitely don’t want to skip verifying ownership and the title of the land. This Bali land due diligence checklist aims to make sure the seller has the legal right to sell the property.
To do this, you’ll need to get your hands on a copy of the land certificate. Have it reviewed by a legal expert to ensure it is legitimate and matches the seller’s claim.
Additionally, you’ll also want to double-check for any liens or unpaid taxes that could cause headaches down the line.
And trust us, you don’t want to get tangled up in any ownership disputes. So, confirm that the land is not part of any disputed ownership cases.
2. Make Sure It Complies with Zoning and Land Use Regulation
If you’re planning to buy land in Bali, better be aware of the zoning laws and land use restrictions.
Bali has a unique system of zoning that determine what type of development can be carried out in different areas. That’s why this is included in this Bali land due diligence checklist.
So before you start building your home or vacation rental, make sure it’s permitted under the land zoning in Bali.
Also, check for any restrictions, such as type of building that can operate or environmental regulations. You don’t want to end up with a land that you can’t use as you planned.
3. Check for Environmental Concerns to Keep Everything Safe
You don’t want to end up with Bali land for sale that’s prone to flooding, or worse, a protected area.
Make sure to check for any risks related to environmental hazards, like flooding or landslides, which could cause damage to the property. Additionally, verify that the land is not part of a protected area, which could limit its use or development potential.
Don’t let unforeseen environmental issues ruin your investment or the local environment. So, keep in mind that this Bali land due diligence checklist is a must.
And if you’re not sure, consider hiring a consultant to give you the lowdown.
4. Infrastructure and Utilities Need to be Accessible
If you’re planning to find Bali land for sale, you don’t want to end up with landlocked land that’s impossible to get to! So, make sure it has basic utilities, such as water and electricity, and is accessible by road.
Finally, as Bali continues to develop, keep an eye out to know about any upcoming projects.
Think of it this way: if there’s a new highway being built nearby, it could make your land more valuable. But if there’s a new landfill/power plant, it could definitely impact your plans.
5. Be Careful About Outstanding Taxes or Unfair Fees
Nobody wants to be hit with unexpected bills when buying land in Bali. Failure on this Bali land due diligence checklist could lead to legal disputes that can impact the land’s value.
That’s why it’s essential to check for any outstanding taxes or fees associated with the land before making a purchase.
You’ll also want to make sure that all taxes and fees have been paid up-to-date.
Additionally, it’s a good idea to hire an accountant to ensure the land’s financial records are in order before finalizing the purchase.
See also: Buying Property in Bali: Top Mistakes You Should Avoid
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