Comments on: Indonesian Land Sale Man Sought Over $200,000 ‘Scam’

By: Alfonso Minnis

Alfonso Minnis — Thu, 15 Apr 2010 02:51:52 +0000

We are a group of volunteers and starting a new initiative in a community. Your content provided us valuable information to work on.You have done a marvellous job!

By: Felipe

Felipe — Sat, 16 Jan 2010 01:42:04 +0000

My email is luisfelipericci@hotmail.com

By: Felipe

Felipe — Sat, 16 Jan 2010 01:36:21 +0000

Laurence
I own 39 are in the Bukit area, on the top of the hill, right on the road to Padang Padang beach.
Only asking 128 million Rupiahs per are.
Are you interested

By: Andrew A. Sailer

Andrew A. Sailer — Wed, 13 Jan 2010 16:15:51 +0000

This is a wonderful recommendation. I am sure many people will benefit from this recommendation. Cliff Front Villas

By: Tyson F. Gautreaux

Tyson F. Gautreaux — Wed, 13 Jan 2010 14:46:42 +0000

This is a wonderful recommendation. I am sure many people will benefit from this recommendation. Cliff Front Villas

By: Bob

Bob — Tue, 12 Jan 2010 05:54:39 +0000

hahahahaha I went to the tourist police once to report a accident….. they were more interested in selling me a villa hahahahhaha the cops are prolly in on it dude!

By: Russ Trapani

Russ Trapani — Thu, 07 Jan 2010 06:07:18 +0000

I Live and work in Northern California and do Commercial Real Estate loans and consulting for my clients such as Colliers International…24 Hour Fitness and Americap Investments to name a few. Integrity is so very important dealing with both commercial and residential properties / clients with full disclosure. Having a business or real estate licence is important..but is not worth the paper its written on if not represented by a trustworthy business or consultants. I have seen this so many times over here when you have a new flock of licensed agents graduate only to find out that when you get out in the real world..away from the books…they find out it takes years to build a client base…and understand this business and how to service and follow through with a clients needs. Understanding lenders…lawyers..appraisers…underwriters and lending profiles takes some time and can not be learned in a class. Its a applied dynamics!. We have seen in this country the failure of many lending institutions and mortgage companies…and 3 years before the falling of property values…we saw the lenders recalling loans they approved without truly qualifying its borrowers while applying loan programs with no rate caps…option arms that were not fully disclosed as to how they recast and adjusted…and the end result were millions of home owners that got caught in a mortgage vacuum …unqualified borrowers that lost their homes and all were working with… licensed brokers and agents. To have credentials is one thing..but to have the ability to apply good business practices is yet again another story.

By: adam

adam — Mon, 28 Dec 2009 07:14:21 +0000

Lawrence, could you refer me to a trusted real estate company in bali. Are you a real estate agent, yourself. cheers.

By: Lawrence

Lawrence — Mon, 28 Dec 2009 01:10:47 +0000

As one of Bali’s oldest realtors I have been predicting for some time that many of the companies and villa operators in Bali are here for today and will be gone tomorrow.

They have been making guarantees that would put you in jail in most Western countries such as guaranteed rate of returns.

How can you guarantee a rate of return if in fact three bombs went off tomorrow.Bali tourism would die. Where would the company obtain the money to pay the ongoing guaranteed rate of return.

The question I have regarding the article above is what are the terms and conditions of the contract that the Russian, Dmitry Dhemikov signed with Asian Estates.

The bottom line is if Asian Estates has kept their commitment to the terms of the contract the Russian does not deserve his deposit back.

If on the other hand Asian Estates had violated the contract the Russian deserves his money back in a prudent time.

I assume that the Russian took proper legal action before he reported them to the police.

In most countries this would be a civil suit and not a criminal action.

At any rate this is why in most Western countries that have licensed real estate agencies who have passed stringent tests and follow very strict laws.

Anybody can sell real estate in Bali and 90 % of them have never passed a real estate test in their life.

Today’s sarong salesmen is tomorrows real estate agent and will tell you anything you want to hear to get the deal without worrying about repercussions later.

As I said for 13 years in Bali “Assume nothing and trust no one unless they have strong references from other foreigners who have done successful business with them”.

It’s also why it’s very important that anyone considering purchasing land or leasing land do due diligence with a top-notch attorney before they purchase.

Caveat emptor . Let the “Buyer beware.

By: made jaya

made jaya — Sun, 27 Dec 2009 10:01:02 +0000

Good to hear that the police are acting on catching property scams in Bali. As this is happening throughout Bali, Property ethics and procedures are surely being not practiced and the police should be acting more on harshly on these scams happening. such as Kantor Kita and many others whom are somehow being undetected.

Also with the increasing number of foreign run-owned property comapnies on the island represents a great number of expatriates whom live in Bali illegally without the correct procedures such as business licenses, paying taxes or visa requirements. If anything happens to Bali they can just simply leave this island and go to the next hot spot. I hope our Government will see this and have a large crackdown on these foreign owned small businesses. 2010 will be that year.

Sustainability is a word that needs to start being incorporated to Bali and hopefully the near future the Balinese will respond to this with the correct leadership and policies in place to make this a reality. If not Bali will lose its identity.