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How to Save Real Estate for Sale by Owner in PNG

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- [Auctioneer] All right, ladies and gentlemen, lets get her going here. Start me off where to bid to go, have I got $1,000 to open it up? - [Ted] For sale by owner, this is the process. Welcome back. Lots of people want to sell their property and they wanna save 5 or 6%. So what happens? They become a for sale by owner. And thats what were gonna talk about because a lot of people dont want to pay the broker a commission so they become for sale by owner, FSBO. All right, thats not unusual. All of you have seen the signs. Sounds easy, its not easy, I can assure you. Now, my name is Ted Thomas. Ive been involved in real estate, not the traditional real estate, for the past 30 years. Now my expertise is in a subset of the traditional real estate. So I view everything through that lens. Now, these properties that Im gonna talk about are tax defaulted property. Now, what is a tax defaulted property? Its the same as traditional real estate where it might be homes, could be vacant r

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Is it expensive to live in Papua New Guinea?

Cost of living in Papua New Guinea is, on average, 15.6% lower than in United States. Rent in Papua New Guinea is, on average, 9.2% lower than in United States.

Who owns most of the land in PNG?

Over 97 percent of the total land area (47 million hectares) in Papua New Guinea is customary land, that is land owned under traditional or customary title by nationals. Less than three percent of the land (1.2 million hectares) has been alienated from the customary landowners.

Can a foreigner buy land in Papua New Guinea?

Foreigners are not allowed to own land in PNG. Most foreign businesses use long-term leases for land instead of direct purchases.

Can you buy property in Papua New Guinea?

Under the Constitution of the Independent State of Papua New Guinea and the Land (Ownership of Freeholds) Act, a non-citizen is precluded from owning freehold land in PNG. Certain types of freehold land can be converted to leasehold land so that it may be used and owned by a non-citizen.

Which site is best for property purchase?

The 7 Best Real Estate Websites of 2023 Best Overall: Zillow. Most Accurate: Realtor.com. Best Mobile App: Trulia. Best for Foreclosures: Foreclosure.com. Best for Renting: Apartments.com. Best for For Sale By Owner: FSBO.com. Best for Heroes: Homes for Heroes.

Can foreigners own property in Papua New Guinea?

Foreigners are not allowed to own land in PNG. Most foreign businesses use long-term leases for land instead of direct purchases.

How to buy property in PNG?

11 Steps To Buying A Home In PNG Personal financial strength. First and foremost, before you consult a lender with your loan enquiries, it is advisable to have your personal financial records on hand. Hunt for property. Get pre-approved. Engage an agent. Home inspection. Make an offer. Conveyance. Stamp duty assessment.

Why is real estate in Papua New Guinea so expensive?

As per the stats, about 97% or so of land in Papua New Guinea is traditionally owned land and only about 3% of that is titled State land. Thus, titled land is scarce or hard to come by and ing to the demand and supply rule, this scarcity pushes up the price of titled land.

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