Common questions about the legal process of house and flat sales in Dhaka

Reading time: 5 minutes, Category: Property Trends

Find the best home and flat sales in Dhaka with BestBari, the trusted real estate company in Bangladesh.

Disclaimer: This article is provided for general information purposes only, does not consider your objectives, financial or legal situation or needs and shouldn’t be considered or relied upon as professional or personal advice. If you have legal, tax, or financial questions, you should contact an appropriate professional.

Welcome to BestBari’s article on common questions about the legal process for house and flat sales in Dhaka. This article has written by our team of property specialists along with our in-house legal specialist and barrister to help navigate property buyers and sellers through the complex legal and handover process for house and flat sales in Dhaka.

Once you find your dream house or flat sale in Dhaka and you have negotiated a fair and reasonable price the last and final step is handling the legal paperwork and administration.

Thanks to BestBari we can help you cut through the complex and detail jargon and paperwork with our property legal specialists and hold your hand throughout the entire end-to-end process. We have included the most common questions about the legal process for flat and house sales in Dhaka below.

If you like to find out more information about the legal process for buying and selling property in Dhaka, please contact us using this link and one of our friendly property agents will contact you to directly to set up an appointment with our trusted legal advisor to guide throughout the process.

 

1. 1. Do I need a lawyer? Does BestBari have any legal specialists to represent me? What would be the fees?

As a seller you would need a lawyer to represent you to make the process easier for you. You will have BestBari’s in-house legal team on your side, who will help with guide the end-to-end legal process on our behalf. There are implications of legal fees, which vary case by case and by complexity of the transaction at hand. Existing and prospective clients are encouraged to speak with our legal specialists over a complimentary session to see where we can assist.

 

• • What are the various fees required for different agencies?

There are various fees that are required when selling and transferring ownership of real estate in Bangladesh. The fees vary based on the specifics of the property, we need an inquiry and know your client (KYC) form completed to determine the exact amount of fees.

The various fee implications are as follows:

 

• • Buyers/Seller’s agent fee (negotiable)

• • RAJUK fees

• • Sub-register Office fees

• • Ministry Of Land fees

• • Legal service fee (negotiable)

• • Buyers/Seller’s agent fee (negotiable)

• • Speed money (if relevant)

Please make an inquiry using this link top help us determine the overall fees (including all administration, government and hidden fees) so it is all transparent and packages into one for our client’s convenience.

 

• • How does the registration change? Is there separate registration for the land and the apartment?

As for changing registration of the property, the process is separate for land and flats. Registration has to be done through Rajuk and the register’s office. Please contact us if you would like to know the formal and detailed registration process through Rajuk.

 

• • How long do the various components in the process take?

Usually the processes can take anywhere from 30 to 90 days to complete. The estimated time will depend on the complexity of the transaction, terms and parties involved. To receive an indicative estimated time please feel free to contact us.

 

• • Are there any tax implications? 

There’s a significant fee and TAX implications for registration. To determine the exact amount, we would need an enquiry. There are TAX & VAT implications for both the buyer and seller. Again, please contact us if you would like to know more details about the tax implications given that each party’s tax situation and implication varies depending on the circumstance common questions.

 

• • Will the payment be made in full prior to keys being handed over? 

In general, the entire payment is cleared before registration, but it can be flexible based on what both parties agree to. Escrow services can be provided upon request. 

 

• • Are there separate paperwork/application processes for changing utility bills? How long does it take?

In regards to DESCO & WASA bill name change, there is a separate process and fee implications. Again the amount varies and we would require an enquiry to determine the exact amount. The process can take up to 30 days.

 

• • Will it be synchronized with the handover of the apartment?

The entire process would be synchronized with the handover of the flat or house. We would mediate the process to help both parties reach consensus on important matters of the agreement and step in where we need to on behalf of our clients and always act in our client’s best interest as part of our company’s values.

 

• • Are there separate workstreams required for Dhaka city corporation and the apartment itself?

There are holding taxes for Dhaka City Corporation (DCC), at times client may also need to get the registered name changed after sale from DCC. Occupancy Certificate is also issued from DCC which is required in some cases. The BestBari team can assist both property buyers all under “one stop shop”

We hope you found this article valuable published by BestBari, the trusted BD Property online marketplace in Bangladesh. 

If you would like to find out more about the legal process for flat and house sales in Dhaka please contact us to book in a complimentary consultation with one of our property and legal specialists.

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