Should I Use a Realtor to Buy a Villa in Bali?
How hard can it be, buying yourself that dream villa in Seminyak or Canggu on the world’s one and only ‘Island of the Gods’? A short scroll on the net and you will find so many amazingly beautiful private pool villas in Bali at the most unbelievable prices. It seems easy-peasy: contact the owner, go see the property, sign the contract and make the payment. There, done – you can now start living the tropical island dream. Hmmm, not really… unfortunately, it is not all that simple! It is definitely possible to find a gorgeous villa at a beautiful price and the process to acquire it can be simple and straightforward, but the dynamic of moving from “How do I do this?” to “Congratulations!” requires just a spoonful more diligence and one or two key decisions early in your ‘process’. Do-it-yourself-practices are not the way to go here!
Bali Real Estate: Go Shop Around to Find the Best Real Estate Agent on the Island:
The short answer to the main question is ‘yes, you really do need a realtor to buy that villa here on the wonderful island of Bali’. Not just any realtor (there are just too many!) but an awesome one with a great deal of knowledge and experience. On top of that, you have to trust and like this person, too. Your Bali real estate agent will be your guide, advisor and negotiator. A good relationship is key to track down that perfect villa and get the right price for it. You need to prepare for some ‘real estate agent shopping’. Ask around, reach out to a couple of them and go and meet the candidates in person (or Skype). If there is any doubt, get out of it! If it all feels good (trust your gut feeling!), the process can start.
Bali Real Estate in a Nutshell: Why Do You Need a Real Estate Agent:
With the help of a real estate agent in Bali, you get lots of advantages and the time that you invest while choosing your agent will pay itself back many fold! Here are a few reasons why you need a real estate agent when buying yourself that perfect villa in Bali:
- Access to More Properties in Bali
Your real estate agent has access to many properties around the island and villa inspections are fairly easily arranged. The agent has got all the contacts and searching for Bali properties through them saves you a lot of time and eliminates getting seduced by high resolution glossy photos of a property that cannot deliver what the buyer requires, even though it “looks really good on the net”.
- Negotiating the Best Price for Your Bali Property
Your seasoned Bali real estate agent will be the one negotiating the very best price for you. You can leave the inspecting and bargaining to him or her – it is their job after all, and it is what they’re good at. With a good, experienced and trustworthy agent on your side, you can be sure you will be getting the best price for you Bali villa!
- Making the contract
A contract should not only involve the Five P’s (property, price, parties, payment terms and penalties) of the transaction but also the special terms and conditions about the villa’s particulars as agreed upon between the seller and the buyer. It should also include the requisite conditions to provide the buyer a way out of the transaction in case of legal or physical impediments that prevent the transaction from settling in a manner that is safe and beneficial to both parties.
If the buyer and the seller do not feel that the proposed transaction is a WIN for them, there is not likely to be a deal on the property. When both parties must feel as though there has been some measure of WIN to their negotiation, then all parties WIN and the transition from “potential buyer” to Villa Owner” is we underway!
Are you trying to sell your villa? Check out this article on Laudable Listing Agents.
Somebody told me foreigners cannot own property in Bali, is this true? Yes and no – check out our article about Bali property ownership by foreigners.