Posted by: Arnico September 2, 2006
Land purchase process
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There usually tend to be two prices. The official valuation according to which you pay taxes (based on location, type of road access, etc.), and the actual market/transaction price, decided between seller and buyer (and often the seller will want at least as much as a similar piece was sold for in the neighborhood recently). Usually the process is that the buyer and seller go to the "Malpot" (land registration) office together, hire an agent from one of many stalls nearby who helps fill out two copies of the transaction paper, which then is submitted through a multistep process whereby various aspects of the land piece and the transaction are checked (courtcases, boundaries, taxes, is the seller really who he/she says he is, etc.). Usually takes a few hours. When everything goes well the seller's registration gets cancelled and the buyer gets a new ownership registration paper. Hope taht helps.
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