BUYING REAL ESTATE IN BALI – THE LEASEHOLD EXTENSION DYNAMIC SIMPLIFIED
At some point you are going to face it – your lease is not getting any longer and you need to start talking with the owners of your property in Bali to discuss extending your lease. Maybe you would like to sell the villa and you feel that a longer lease will be more attractive to the market, or perhaps you just want the peace of mind that comes with having a longer future in your Bali home.
Check the article(s) in your lease agreement that cover the method to establish the price of the extension and realise that the language of the contract will likely not prohibit you from extending the contract ahead of the predetermined time frame set out. You will need to talk about the market value of your property and negotiate. It is a delicate matter, we know, and it surely requires thoughtful actions and strategy.
Let’s take a closer look at leasehold extensions and how to deal with them in such ways that you get what you need and keep everyone happy all at the same time.
- The Lease Agreement of Your Bali Property – What does it actually say, and what does that actually mean?
- How to Determine the Market Value of Your Bali Property?
- A Good Relationship with the Landowner is Essential!
- Don’t Wait to Talk about the Extension of Your Leasehold
If you are unsure of how best to approach the issue of extending your lease, find a professional that you can trust to offer the best advice. While this may be the one and only leasehold extension that you have ever encountered, a seasoned agent will have been through the process dozens of times under a wide range of circumstances and the advice that you receive can save you thousands of dollars and a lot of headaches.