A developer wants buyers to sign a PPJB (conditional sale agreement) for landed villas in a new Ubud project. Under PP 14/2016 as amended by PP 12/2021, which conditions must be in place first?

1. Only a signed reservation form and a deposit
2. Clear land status, the building approval (PBG), available infrastructure and utilities, and at least 20% construction completed
3. A bank guarantee covering 100% of the price
4. Approval from AREBI and the banjar

Before whom must the buyer and the developer sign a PPJB for a house under the housing regulation?

1. The village head only
2. The listing agent as witness
3. No one: a WhatsApp confirmation is enough
4. A notary

What is the difference in timing between marketing an apartment project and a landed house project under the housing regulation?

1. Apartments (rumah susun) may be marketed before construction begins, while landed houses are sold by PPJB once at least 20% is built
2. Both may be marketed only after the SLF is issued
3. Landed houses may be marketed before land is acquired; apartments may not
4. There is no difference and no condition

Example figures: a buyer signed a PPJB for a villa priced at IDR 3,000,000,000 and has paid IDR 900,000,000. He cancels through his own fault. Under Article 22L(4), the developer may deduct 10% of the price. How much must be refunded (in IDR)?

A buyer paid a IDR 250,000,000 deposit on a IDR 3,000,000,000 villa under a PPJB, then walks away for personal reasons. What does the regulation allow the developer to do?

1. Refund everything, since cancellation is always free
2. Refund half the deposit
3. Keep the whole payment, because it does not exceed 10% of the price
4. Claim the full price from the buyer

The developer misses the handover and fails its PPJB obligations, and the buyer cancels. What is the buyer entitled to under the housing regulation?

1. Nothing, since off-plan buyers carry all risk
2. 90% of payments, the developer keeps 10%
3. A credit note on a future project only
4. Return of all payments received

A brochure for a Pecatu villa project promised a beach club and a fixed 12% return, but neither appears in the PPJB. The buyer feels misled. Which law gives him a basis to act, and what penalty can apply?

1. The Consumer Protection Law: misleading promotion is unlawful and can carry up to 5 years in prison or a fine of up to IDR 2 billion
2. None: only the PPJB counts and brochures have no legal value
3. The tourism law, with a maximum IDR 10 million fine
4. Only AREBI's code of ethics, with no legal penalty

A developer shows an old IMB for a Jimbaran plot. Which document replaced the IMB as the building approval under PP 16/2021?

1. The SHM certificate
2. The PBG (Persetujuan Bangunan Gedung), applied for through SIMBG
3. The NIB from OSS
4. The PPJB

A finished off-plan villa is handed over, but the developer has no SLF yet. Why does that matter?

1. It does not: the SLF is optional for villas
2. It only affects the developer's tax return
3. The SLF (certificate of function) confirms the building is fit for use and must be obtained before it is used or occupied
4. The SLF is the land title, so the buyer owns nothing

How often must an SLF be renewed for a building that is not a residential house, such as a hotel?

1. Every 5 years
2. Every 20 years
3. Every year
4. Never

Example figures: an off-plan 2-bedroom villa costs IDR 6,800,000,000 and the developer projects IDR 485,000,000 of yearly rental revenue. What is the gross yield (in %, two decimals)?

Example figures: same villa, IDR 6,800,000,000 price and IDR 485,000,000 revenue. Deduct management 20%, OTA commissions 15%, operating costs 15% and a capex reserve 5%, all on revenue. What is the net yield (in %, two decimals)?

A client asks what a full-service Bali villa manager usually charges. What range is reported in 2026 market analysis?

1. 1% to 3% of revenue
2. A flat USD 100 a month
3. 50% to 70% of revenue
4. About 15% to 30% of revenue, before OTA commissions

A Canggu developer advertises a "gross ROI of 11.5%" on a IDR 4.2 billion villa. What is the most accurate way to explain this figure to a buyer?

1. It is the guaranteed net income after tax
2. It is projected revenue divided by the purchase cost, before any operating deductions, so you must ask for the occupancy and nightly rate assumptions
3. It is the annual price growth of the villa
4. It is the return already achieved by the developer's past projects

Bali branded villas and condotels have long been sold with a guaranteed yield. What weakness did JLL research point out?

1. Guarantees are illegal and void
2. Guarantees always last for the full lease
3. Typical guarantees were short (about 7% for three years), and some weaker projects could not deliver adequate returns once the guarantee ended
4. Guarantees are paid by the Bali government

Example figures: a developer offers an 8% yearly rental guarantee for 3 years on a villa priced at IDR 4,000,000,000. What is the total guaranteed payout over the period (in IDR)?

Example figures: a buyer signs a 30-year leasehold off-plan villa deal; the lease term starts on the signing date. Delivery was promised in 18 months but the villa is handed over after 36 months. How many years of lease remain once he can use it?

A small Bali developer asks your buyer to pay 70% upfront into its company account, with no escrow. What protection should you recommend?

1. Milestone-based payments released only after independent verification, with a detailed contract and an independent construction auditor
2. Pay upfront but ask for a discount
3. Pay in cash to the site foreman to speed things up
4. Accept, since Indonesian law guarantees all off-plan deposits

At what stage of an off-plan villa build is a contractor most likely to walk away, according to Bali operators?

1. Before the land is cleared
2. On the day the PPJB is signed
3. After the SLF is issued
4. Near the end of construction, when most of the money has already been paid

Example figures: a newly delivered villa rents for IDR 3,500,000 a night. Regional tax on hotel services (PBJT, which covers villas) is charged at 10%. How much PBJT is due per night (in IDR)?