XI. Putting the Results of the Negotiations into a Written Agreement

A. Put it in Writing

Writing all the terms of a purchase agreement into a written contract gives you a level of safety and avoids confusion in the future. The contract will have the price and conditions of purchase, the payment schedule if applicable, the permitted time to conduct due diligence, and an agreed upon way to resolve disputes. The owner will want to know when to expect payment for the land. A written contract protects both the buyer and the seller by clarifying the pre-purchase process and stating exactly what will happen if unforeseen problems arise.

B. Exactly how do I pay money?

All transactions take place in cash. No checks, credit cards, or traveler's checks. Generally you (or your partner) go to the bank and withdraws cash money that you have wire transferred previously. Any time you pay money, an official receipt must be issued and signed by the recipient of the money. For big money, the receipt gains more credibility when one or more witnesses witness it. They will make their sign and often put a thumbprint on the receipt. Indonesia also issues a special stamp at the Post Office that to be pasted on any important document. The signature is written over the top of one of these special stamps makes the document impossible to forge on a copy machine. This is the highest form of security for any important document, especially receipts.

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I.Important Facts to Consider

A.Is ownership risky?

B.Lombok: A Different Culture

C.Living on Lombok

II.Summary Steps to Buying Land

A. Get familiar with Lombok

B. Choosing a Partner("Nominee")

C. Find a parcel of Land

D. When You Find a Parcel

E. Negotiate the Price

F. Comprehensive Due Diligence.

G. Initiate Title Transfer.

H. Issuance Land Certificate

III. Visit All Lombok First

A. From Tourist to Resident

B. Explore the Hidden Lombok

C. Starting a Checklist

IV. Legal Issues

A. The Issue of Ownership

B. Foreigners Solve the Problem

C. The Nominee Method

D. Foreign Direct Investment(PMA)

E. One Final Option

V. Choose Partner and Team

A. Start Looking Early

B. Wide Variety of Skills

C. Other Trustworthy People

D. Check if Trustworthy

VI. Places that Sell Land

A. General Warnings

B. Real Estate Companies and Websites

C. The Local Tour Guide

E. The Local Gossip Mill

F. Miscellaneous Sources

VII. When You Find a a Parcel

A. Initiate Early Discussions

B. The history of the land

C. Get to know the Players

D. Slowly Get to the Price

VIII. Through an Engineer's Eyes

A. Clear access

B. Public facilities

C. Everything Belongs to you?

D. Check the Drainage

E. Check the Stability

F. Double Check Everything

IX. Settle Price and Terms

A. Necessary Preparations

B. Establish Proper Atmosphere

C. Conduct the Negotiations

D. The Issue of Parcel Size

E. Money is Not the Only Issue

F. Giving a Deposit?

X. The Written Agreement

A. How do I Pay Money?

XI. Due Diligence and Research

A. Risk versus Benefit

B. Due Diligence

C. Checking Public Records

D. Digging for the Unwritten Truth

XII.The Notaris Office

A. Settling the Final Terms

B. Notaris - Initiate Title Transfer

C. Sign the Nominee Agreement

XIII. Finally a Certificate