STANDARDIZED PROPERTY
Property value: 5,797,767
City: Bujumbura

Registration Requirements:

 
Procedure 1. Obtain a proof of title property at the Land Registry (or equivalent) 
Time to complete: 30 days
Cost to complete: 12.000 BIF
Comment: The buyer will request proof that the seller is indeed the true owner of the property and that the property is not encumbered by mortgages, liens or other securities. The seller needs to request an updated certificate from the Land Registry.
Procedure 2. A lawyer drafts the sale agreement and is signed by the parties
Time to complete: 2 days
Cost to complete: 250.000 BIF
Comment: Both parties sign the sale agreement under the presence of a lawyer, once it has been prepared by a lawyer. 
Procedure 3. Notarize the Sale Contract at the Public Notary 
Time to complete: 2 days
Cost to complete: 19.000 BIF
Comment: The parties should notarize their sale contract with an accredited public notary.
Costs vary in each case. Notaries usually charge a fixed fee per page. Assuming a standard sale contract, an average estimation of the cost of this procedure is BIF 19,000.
 
Procedure 4. Application at the Cadastre Office for price verification
Time to complete: 15 days
Cost to complete: no cost
Comment: The cadastre verifies the price fixed on the property by the seller to guarantee that the buyer was not overcharged and/or parties are undercharging in order to avoid taxes on the transfer.
Procedure 5. File for Name Change with the Land Registry "Registre des Titres Fonciers"
Time to complete: 45 days
Cost to complete: 13% property value (transfer tax 7% + registration fees 6%)
Comment: The parties should file a request with the Land Registry "Registre des Titres Fonciers" for the transfer of property to the buyer's name. The only documents the parties are required to present is the notarized sale contract and the property title. The Land Registry employees have to perform due diligence and might do a field inspection of the land. The Director of the Registry will also write to the Urbanism Department "Services de l'Urbanisme" asking it to confirm that the total surface and total sale price as stated in the sale contract are accurate and not understated. The due diligence process could take one or two months. 
 
Note: Procedures sometimes take place simultaneously. Instances of this are marked with an asterisk (*).