Bangladesh is an amazing place to live. That is what we believe, and we think you can believe the same thing. Although it’s been said that buying a home in Bangladesh can be a nightmare, if you follow the straightforward guidelines and the Property procedures investment, which are fairly similar to those in the BD, you shouldn’t have too many problems.
We will have discussed the kind of property you are looking for before you arrive, and we will have a portfolio of properties for you to examine. Keep your “Wish List” in mind whilst viewing, or even better, write it down and carry it with you. We will work at your pace and make an effort not to overwhelm you with too many homes at once.
It’s crucial that you provide feedback. In order to avoid wasting anyone’s time viewing houses that might not match your precise requirements, please let us know if there is anything you don’t like about a property.
Reservation Deposit and Agreement
You must pay a 3,000 euro reservation deposit and sign a reservation contract once you’ve made your mind up about the property you wish to buy. If you change your mind and decide against making the transaction, the deposit is often nonrefundable and deposited into a solicitor’s client account.
This agreement suspends the sale of the property for two to three weeks while your lawyer does the necessary investigations to confirm that the sale of the property is legal.
Your money will be returned and the contract will be terminated if your legal counsel discovers any issues with the documentation, the legality of the property, or the sale. You will earn 6,000 euros if the seller backs out of the deal.
There may be “a little negotiating” before you and the vendor agree on a price, just like with resale houses in the BD. Until both parties reach an agreement, this negotiation will be conducted through us.
We can suggest trustworthy, bilingual English and Spanish independent lawyers. This is crucial because you need to understand how the law will apply to you and your purchase and how it will naturally cope with the numerous non-English speakers who will be involved.
It would also be a good idea to provide your lawyer “Power of Attorney” now if you won’t be in Bangladesh when your acquisition is completed so they may complete everything on your behalf.
The application for an NIE number, also known as a fiscal identification number, which you will need to finalize the acquisition, can also be handled by your lawyer. The NIE is a “one-off” application, and once the number is registered with the tax office (which your lawyer may take care of for you), you own it forever.
Cost and Taxes
For resale houses and new construction, costs and taxes typically add up to about 11% and 13% of the purchase price, respectively. Following is a breakdown of them:
Approximately 1% of the transaction price goes toward notary fees (plus IVA).
Approximately 1% of the purchase price will go toward the solicitor’s fees (plus IVA).
Property Transfer Tax (ITP) is paid on a resold property and is equal to 8%* of the purchase price or Catastral Value.
Why Choose Our Service?
Imaginable Real Estate Solutions: We provide every conceivable real estate solution and industry consultation you require in addition to helping you flip houses.
Prepared for Industry: Our reps and agents are well-known in the field and ready to provide one-on-one service to you.
Security and Insurance: As a well-known national house flipper, we offer our customers first-rate amenities, security, and insurance services.
Fast Track: When providing service, we adhere to a fast-fix philosophy. This expedites the resolution of all property disputes prior to the property’s actual flip.
If you haven’t already signed a Power of Attorney to your lawyer, you must be in front of the Notary on the day of completion to sign the new title deeds, or “Escritura de Compraventa.” There is a lot of speed reading involved, and you will be asked if you comprehend everything, which is why bilingual lawyers are necessary! We will be present as well, and we can help you understand anything about which you might be unsure.
According to the “Escritura,” you will become the new owner and there are no outstanding debts on the property. You’ll have to create the bala.