STANDARDIZED PROPERTY
Property value: 26,697,488
City: Douala

Registration Requirements:

 
Procedure 1. Obtain a copy of the property deed at the Land Registry "Service Des Domaines" 
Time to complete: 21 days
Cost to complete: XAF 10,000
Comment: The buyer should perform due diligence before entering into a sale agreement with the owner of the property by requesting a copy of the property deed from the Land Registry. The copy will include all useful information regarding the property and its history since its registration with the Land Registry. The party will be able to know whether the seller is indeed the owner of the property and whether the property is encumbered with mortgages or liens. 
Procedure 2. A Notary drafts the sale agreement 
Time to complete: 3 days
Cost to complete: 2% of the Property Value
Comment: The law requires that the sale agreement be notarized. It is the practice that parties ask the notary to draft the sale agreement himself. The Notary will draft a preliminary sale agreement and will take the parties' final observations. The notary finally asks the parties to sign the agreement and to register it with the tax authorities. 
Procedure 3. Register the sale agreement with the Tax Authorities "Centre divisionnaire des Impôts" 
Time to complete: 7 days
Cost to complete: 15% of the Property Value
Comment: The sale agreement should be registered with the tax authorities. The sale agreement registration fees would amount to 15% of the sale value. 
Procedure 4. Notarize the registered Sale Agreement
Time to complete: 2 days
Cost to complete: (included in procedure 2)
Comment: The parties take back the sale agreement after it is duly registered with the tax authorities to the notary who will notarize it and sign the transfer form. The parties already paid the notary's fee in their first encounter. The transfer form is addressed to the director of the Land Registry "conservateur du titre foncier" and states that the two parties (buyer and seller) appeared before the notary at the place and time mentioned and unequivocally agreed to the final sale. The Promissory Sale Agreement and a copy of the property deed are attached to the transfer form. 
Procedure 5. Final transfer of the property title with the Land Registry "Service des Domaines"
Time to complete: 60 days
Cost to complete: 1.7% of the Property Value 
Comment: The form can now be taken to the Land Registry and file a request of transfer of property. It can take up to 2 months before the title is effectively transferred to the buyer. 
 
Note: Procedures sometimes take place simultaneously. Instances of this are marked with an asterisk (*).