we've wanted to move to Sanur for a while so we're always interested in property there. Today we went to see a long-lease Villa with a Realtor. We were impressed as the unfurnished villa was new and had been vacant for 2 years. It was perfect for us and I was very impressed, and eager to make an offer, until I asked to see the IMB. The realtor said she'd need to ask the (Australian owner's) local agent.
I'm now informed that it doesn't have an IMB and it hasn't even been applied for and will take 3-6 months to get. As the building is in a urban area and appears, at least to me, to be in compliance with local IMB permission, I cannot figure why the owner didn't previously apply....especially as they built to sell. Could there be a scam afoot?
The realtor said it's normal that owners apply for the IMB after building the villa....I think that's insane! IMO a building on leased land, without a permit to build, is worthless...in fact, it could be a counter-investment as it may cost the new owner to be de-constructed.
I said I'd think about an offer when the IMB is issued...
Any comments?
I'm now informed that it doesn't have an IMB and it hasn't even been applied for and will take 3-6 months to get. As the building is in a urban area and appears, at least to me, to be in compliance with local IMB permission, I cannot figure why the owner didn't previously apply....especially as they built to sell. Could there be a scam afoot?
The realtor said it's normal that owners apply for the IMB after building the villa....I think that's insane! IMO a building on leased land, without a permit to build, is worthless...in fact, it could be a counter-investment as it may cost the new owner to be de-constructed.
I said I'd think about an offer when the IMB is issued...
Any comments?