Sell with ease, we’ve got the expertise.
Procedure for Selling Land and Real Estate Products in Bhutan
Selling land and products in Bhutan under Bhutanese real estate regulations involves specific procedures to ensure compliance with the country’s laws. Here’s a generalized procedure for selling land and real estate products:
1. Engage a Real Estate Agent:
Consider hiring a licensed Bhutanese real estate agent to facilitate the sale. An experienced agent can assist in pricing, marketing, and navigating legal requirements.
2. Property Valuation:
Get the property professionally valued by a licensed valuer recognized by the Royal Government of Bhutan. This valuation will help in determining an appropriate selling price.
3. Prepare Property Documentation:
Ensure all necessary property documents are in order, including land title, survey reports, and any relevant approvals or permits.
4. Compliance Check:
Verify that the property complies with Bhutanese zoning regulations, environmental standards, and any other legal requirements. Address any outstanding compliance issues.
5. Marketing and Advertising:
Develop a comprehensive marketing strategy to promote the property. This may include online listings, traditional media, and collaborations with real estate platforms.
6. Negotiation and Offer Acceptance:
Respond to potential buyers, negotiate terms, and reach an agreement on the sale price and conditions. Draft a sale agreement once both parties are in agreement.
7. Buyer Approval:
If the buyer is a foreigner, ensure that they obtain the necessary approvals from the relevant authorities, such as the Ministry of Economic Affairs and the National Land Commission.