When you buy land in Lombok, there are several costs to pay in order the purchase is legally possible, including taxes and Notary’s fee. If you are wondering how much is Notary’s fee in Lombok, this article may help you to get a comprehensive idea.
Notary’s fee in Lombok alone may vary from Notary’s fee in other regions. Even one Notary’s fee may vary from another Notary.
Buyer and seller will incur to the following costs. However, the list below is not merely for Notary’s fee, but rather for the whole costs of conveyancing a land title to the buyers. Only when all theses costs have been fully paid the process of the property conveyancing is possible.
- Deed of Sales and Purchase (AJB)
- Property Acquisition Tax (BPHTB)
- Conveyancing and registration
- Technical Recommendation of Permit Location
- Approval of The Spatial Utilization Activities Compatibility (PKKPR)
- GPS coordinate
- Income Tax (PPh)
Unless otherwise agreed by both parties, item 1 to 7 are the obligations of the buyer as specified by the law and common practice.
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Property Investor
1. Deed of Sales and Purchase (AJB)
Deed of Sales and Purchase cost may be also referred to as Notary’s fee. Depending on your situation and which Notary you hire, the Notary’s fee normally ranges from 1% to 1,5% out of the purchase price.
2. Property Acquisition Tax (BPHTB)
Buyer is subject to 5% Property Acquisition Tax. The calculation is normally based on the purchase price, but very often your property consultant will suggest a negotiation with the Regional Revenue Agent.
The negotiation is possible because the purchase price normally way higher than the minimum taxable land price standard the Regional Revenue Agent determined.
3. Conveyancing and Registration
Conveyancing is the legal process of transferring a land title ownership from the seller to the buyer, which is done at the nearest National Land Agent. The cost depends on the land specific location commerciality. This cost is to be checked by the Notary.
5. Technical Recommendation of Permit Location
Land Technical Recommendation is a recommendation specifying the terms and conditions of land control, ownership, uses and utilization in regard to the spatial planning compatibility. Like the Conveyancing and Registration cost, this cost is to be checked by the Notary.
4. Approval of The Spatial Utilization Activities Compatibility (PKKPR)
Approval of The Spatial Utilization Activities Compatibility (PKKPR) will be issued when the land location is considered compatible with the spatial planning and is eligible to be conveyed.
6. GPS coordinate
Depending on the specific situation, the land GPS coordinates survey is required if the land certificate is the old version. GPS coordinates data need to be input into the land big data base for future reference if a dispute occurs. It may cost around IDR 3 million or more, depending on the land location and size.
7. Income Tax (PPh)
This is the only obligation of the seller cost wise. He is subject to 2,5% tax, which calculation follows the Land Acquisition Tax calculation as described above.
For the most accurate and specific advise, contact your trusted Lombok property lawyer.
