Property for sale
Zen Villa Bali For Sale US $99,000
The current lease runs to 2025 and is then renewable for a further 20 years. An English version of the lease is available.
The lease is granted over the land and valued on unimproved value ( The lower rate of valuation ).
The current lease expires in 2025 then you can renew for another 20 years. The Lessor of the land has leased the entire Resort area for 40 years, and each renewal is done individually.
The process of sale and purchase is relatively simple.
A sale agreement is entered into between the Lessee and the Purchaser for an agreed price and date of transfer.
Austrindo Australian/Indonesian Law Office in Bali handles the paperwork.
A deposit of 10% and balance of payment can be held in trust by your Solicitor here in Australia, and each party can send their payment for legal expenses etc individually to Austrindo Bali. Settlement is made on the date of transfer of the lease. Alternatively the full amount can be paid to Austrindo who will then take care of any tax connotations and expenses, and then distribute the proceeds accordingly.
We are selling the entire villa inclusive of all furniture, fittings, A/C systems, linen, garden statues, plunge pool etc etc. With this goes the balance of the existing lease, plus the right of renewal for another 20 years. The new lease of 20 years will be determined at the time of renewal by way of land value Not improved value So in other words the villa is sold as a going concern.
I would be happy to continue to market the villa if you were to purchase. The commission rate is 10%.
The day to day management is carried out by Wiwin Adynaswari and her Brother Yoga. They are both highly competent and we get continual glowing reports of Yoga, Wiwin's Brother. He looks after the housekeeping etc etc of the villa, and Wiwin looks after the bookings I send her, the airport transfers that I request for guests, and the Room Tax payment each month to the Gov't. Plus all communications with the Security Guards re guests arrivals etc.
The Resort itself is off site Managed by 2 Expats. They charge us monthly for electricity, water tax, pool chemicals, cable TV, and then every 6 months we pay levies of $3450 for the maintenance of the grounds, mowing the lawn area at the villa, the plunge pool, the pool pump and any other minor items like blown bulbs on the outside of the villa. The 6 monthly levy also covers reception, Security Guards in place 24/7 and the supply of filtered water to the villa, plus of course electricity mains supply to the villa, and septic tank management. We are also part of a small group of owners who have the exclusive use of a Genset to provide power to the villa in the case of disruption of mains supply.
ZEN VILLA BALI INCOME /EXPENDITURE FROM JULY 2018 TO JUNE 2019
BOOKING.COM COMMISSION $2461
Monthly villa exp. $7961
Cable TV $1360
Web site exp $200
Room Tax $1215
Total Exp = $18,477
Net Income = $18,767