PROPERTY PURCHASE · CLOSING · MAURITIUS
As a foreigner, you cannot buy any property in Mauritius. Therefore, before making a final purchase, it must be verified and approved whether you are actually allowed to purchase the desired property.
Only after the necessary approval can the actual purchase contract be concluded with the notary.
Free of charge · without obligation · in person in Mauritius
Real estate purchase in Mauritius differs for foreigners Buyers at a crucial point from a purchase in Germany, Austria or Switzerland:
You cannot buy any property in Mauritius that you like. Therefore, before the final purchase contract can be concluded, it is necessary to first determine whether the specific property is eligible for purchase by a foreign buyer.
Subsequently, the required approval is applied for with the Economic Development Board Mauritius (EDB). Only when this approval is received can the actual purchase contract be concluded with the notary.
A beautiful villa, a dreamlike apartment or penthouse, and an acceptable purchase price do not automatically mean that you can also purchase this property as a foreigner.
What matters is whether the property is approved for foreign buyers and whether the necessary permit is granted for your specific purchase.
Once you have decided on a property, the actual buying process begins. These four steps are for foreign buyers: Buyer is particularly important.
First, it is checked whether the specific property can be purchased by a foreign buyer and under which approved purchasing model it is offered.
If the acquisition is generally possible, the purchase is prepared. Depending on the property, a reservation or preliminary agreement is first concluded and the buyer’s required documents are compiled.
Subsequently, the required approval is applied for with the Economic Development Board Mauritius. The EDB reviews the proposed acquisition and the submitted documents.
Once the approval is received, the final notarial purchase contract can be concluded. From this point on, the further process will vary depending on whether you are buying a finished property or a new build or an off-plan property.
As soon as it is established that you are generally allowed to acquire the property as a foreign buyer, the actual process begins. The purchase process with the reservation contract.
In the case of new construction and off-plan projects, this contract is referred to as Preliminary Reservation Contract (CRP) He reserves the specific property for you and sets essential conditions for the subsequent purchase.
With an off-plan purchase, the actual purchase often follows later as part of a VEFA – Sale in the Future State of Completion. This refers to the purchase of a property that is still under construction and will only be completed at a later date.
Even for existing properties, the purchase process begins with a corresponding reservation or preliminary agreement. The specific terms of the contract differ, but the basic principle remains the same.
The reservation agreement includes, among other things, the specific property, the agreed purchase price, and the terms for the subsequent transfer of ownership. Purchase retained.
The reservation contract usually includes a Reservation fee or deposit of approximately 5 to 10 percent of the purchase price is due.
This payment will be made to the Notary account – the so-called Escrow Account – of the notary who will process the purchase.
Before the final purchase contract can be concluded, the foreign buyer needs the necessary EDB Authorisation, Therefore, the approval for Acquisition of the specific property.
EDB stands for Economic Development Board Mauritius. There, the proposed real estate acquisition by the foreign buyer is examined.
If the EDB does not approve the purchase, the purchase cannot be completed. In this case, you will receive the reservation fee deposited in the notary account back.
To prepare the purchase and apply to the EDB, the notary needs various personal and financial documents.
An important component is the KYC procedure – Know Your Customer. This ensures that the buyer's identity and the information required for The purchase process checks the necessary information.
These include, among other things, a passport, birth certificate, proof of address, bank documents and proof of the source of the purchase funds. You can find the full list here. in the section regarding the EDB approval.
With Source of Funds (SoF) The question refers to the proof of where the financial resources used for the purchase of the real estate come from.
If you are buying together with your partner or through a company or other structure, additional documents may be required.
The reservation contract – for new-build and off-plan projects Preliminary Reservation Contract (CRP) – is already an important part of the real estate purchase process.
Therefore, it is not only important to ensure that the name, purchase price, and property number are correct. It is also important to determine what conditions were agreed upon, what payments are due, and what happens if the purchase does not go through for any reason.
Before you sign and transfer money, you should know exactly what you are agreeing to.
It is here that we assist our customers. We go through the contract documents with you and discuss the points that are important for the further purchase process. Open legal questions can then be addressed specifically with the notary or an appropriate specialist advisor.
After the reservation contract has been signed – in the case of new-build and off-plan projects Preliminary Reservation Contract (CRP) – if the application is signed and all required documents are available, the application will be submitted to Economic Development Board Mauritius (EDB) submitted.
The EDB examines the proposed real estate purchase, the buyer, and the submitted documents.
Only when the required EDB approval or the LOA – Letter of Approval – if it is available, the final purchase contract can be concluded with the notary.
The Economic Development Board Mauritius (EDB) is the competent state authority for numerous investment and real estate procedures for foreign buyers in Mauritius.
When buying real estate, among other things, it is checked whether the specific Verify that you meet the applicable requirements and that the necessary documents are in full possession.
Which documents are required depends on the property and the country of origin. The purchasing model and the buyer structure have changed.
Depending on personal circumstances, financing, or the buyer structure, additional documents may be required.
How long the procedure takes depends, among other things, on the Property, the acquisition model, the completeness of the documentation and any possible follow-up questions.
The more complete the application is submitted from the outset, the better the further purchase process can be planned.
The LOA or the corresponding EDB approval confirms that the planned real estate acquisition has been approved.
Only after that can the final notarial purchase contract be concluded.
Yes – for a purchase price of 375,000 USD in a PDS or Smart City project, you can apply for a residence permit for Mauritius. It applies as long as you hold the property and include your spouse or partner, children under 24 years of age and up to three financially dependent relatives.
A G+2 apartment by itself does not automatically lead to a residence permit. You can find the requirements for the other visas in our overview. Visa Mauritius 2026.
Are you 50 or older? Then you can also do without buying – with the Mauritius pensioner visa. This way you can arrive and decide in peace where you want to buy.
As soon as the required EDB approval or the LOA – Letter of Approval If the necessary documents are available, the final purchase contract can be concluded with the Mauritanian notary.
The notarial purchase deed is issued as Act of Sale designated. From this point on The payment process differs primarily depending on whether you are purchasing a finished existing property or a new build property or an off-plan property.
In the case of a finished real estate asset, the remaining open Purchase price before or in connection with the Act of Sale sent to the notary account.
After signing and registering the notarial purchase deed, the transfer of ownership is completed.
In the case of a new build or an off-plan property, the purchase is often made through a VEFA – Sale in the Future State of Completion.
This refers to the purchase of a property that is still under construction or has only just been completed.
Similar to a new construction purchase in Germany, the purchase price is not paid in full at once. Instead, individual installments are paid. Purchase price installments are due according to the progress of construction.
These payment requests are reported as Appels de Fonds designated.
Whether it is an existing property or a new build: The purchase price payments are made via the Notary account – Escrow account – handled.
In the case of a new construction, this also applies to the individual elements. Appels de Fonds, That is, the purchase price installments that are due according to the progress of construction.
The GFA (Guarantee Financière d'Achèvement) is a Bank guarantee of completion. It ensures that New construction projects in Mauritius that are sold under the Plan as VEFA cover the financing of completion, even if the developer defaults during the construction phase. For PDS projects, this VEFA framework is legally required.
Status: October 2026Anyone who follows real estate projects in other countries knows these stories: The developer gets into financial difficulties in the middle of construction, the construction site stops working. The buyers who have paid remain stranded with a semi-finished villa. In the worst case, it’s a demolition site.
Mauritius has created a mechanism for regulated new construction projects that significantly reduces this risk.
GFA stands for Financing guarantee for completion, Thus, a financial completion guarantee. A bank or an approved financial institution guarantees that the money is available for the completion of the project.
The legal basis is the VEFA purchase (Sales in the State of Future Completion) after the Mauritian Civil Code. The PDS regulations The Economic Development Board (EDB) stipulates that sales from Must be planned or carried out during the construction phase in accordance with these VEFA regulations.
The developer cannot simply sell the plan and hope that the money will last until the end. The completion must be financially secured.
With a VEFA, you are buying something that does not yet exist. Your trust therefore extends not only to the construction company, but also to the system behind it.
If the developer is no longer able to complete the project on its own financially, the GFA intervenes. The bank ensures that the Funds for completion are still available.
You should not one day stand in front of a construction site that has been there for Months of rest because the money has run out.
A bank guarantee does not prevent every delay. It does But buying the plan is your biggest risk.
A bank assumes a significant risk itself with a GFA and examines the developer accordingly in detail. Therefore, what matters to you is not only, that a GFA exists, but also what lies behind it.
The GFA does not replace the selection of the right construction contractor. It adds an additional layer of security to them.
I myself come from the construction business. I realized my first project in Germany in 1990. Therefore, when I look at a project, I’m not interested in renderings, pool sizes, or sea views first, but in a completely different question:
What happens if something goes wrong during construction?
This is exactly where the Mauritanian system convinces me. In a The PDS project integrates several levels:
You therefore do not transfer the entire purchase price to a developer and then hope that the property will eventually be completed.
With PDS projects, the protection does not end with the key handover. The EDB regulations stipulate three insurances against structural damage.
Defects in workmanship on surfaces and construction.
Deficiencies in non-load-bearing components and home technology that are the responsibility of the The purchase contract may deviate.
Damage to supporting components such as foundations, supports and load-bearing structures Walls that endanger stability.
Many foreign buyers are completely unfamiliar with these structures when they first purchase on Mauritius.
The GFA protects against a financial default of the construction company. However, it does not guarantee flawless construction quality.
A villa can be completely finished and still have defects, for example in sealing, home automation, workmanship quality, or Discrepancies from the plan and the agreed equipment.
Is the completion financially secured?
Will the property be built to the agreed quality?
Only when both answers are combined do we have a reliable purchase.
The quality assurance officer of a PDS project examines the project on behalf of the The builder is responsible for ensuring that the construction is carried out in accordance with the construction contract. This is an important Standard.
Building control in your capacity as an inspector raises another question: Do you get exactly what you pay for, down to the details of your unit?
After more than 35 years in construction and real estate, I know this: The earlier a defect is detected, the easier and cheaper it is to fix during the construction phase. After the handover, every mistake becomes a discussion.
Therefore, in the next step, I will show you why Construction progress control and construction completion inspection in Mauritius They are just as important as the legal and financial protection Of your purchase.
Real estate purchases, moving abroad, and construction supervision are decisions of far-reaching consequence. This makes personal guidance that remains reliable even in demanding situations all the more important.
„We had already seen several properties in Mauritius, but were unsure which project was really right for us. Armin understood our wishes very quickly, critically evaluated several options, and ultimately led us to a property we likely wouldn't have found on our own. What was particularly valuable for us was that he not only assisted with the purchase, but also negotiated directly with the developer and clarified important details for us. Throughout the entire process, we felt we had an experienced contact by our side.“
„For us, it was important not to just buy any nice villa, but a high-end project with good construction quality and a reputable developer. This is precisely where Armin’s experience helped us enormously. He compared various projects, addressed technical details we wouldn't have noticed ourselves, and also accompanied us through the purchase process and discussions with the developer and notary. In the end, we bought a property that we truly feel secure about.“
„The move to Mauritius raised many questions for us at first: the retirement permit, bank account, documents, and the right order for each step. Armin and his team guided us through the entire process in a very structured way and always clearly told us what needed to be done next. It was especially pleasant that we had a direct contact person on site and did not have to coordinate everything ourselves. As a result, the journey was much more relaxed than we had originally expected.“
QUESTIONS ABOUT THE PURCHASE PROCESS
Perhaps you have already found a property. Perhaps you are still facing the decision between an existing property and a new build. Or you want to know how CRP, EDB approval, LOA, VEFA and GFA fit together in your specific case.
We can discuss together where you are currently at, what steps are sensible next, and what you should pay attention to before signing.
Armin SchreiberReal estate curator · Real estate developer experience since 1990
Free of charge · without obligation · in person in Mauritius
A construction progress check examines your property during the crucial construction phases before sealing, pipes and connections are hidden behind tiles and plaster. What is noticeable during construction can usually be corrected with little effort. After handover, this often becomes an expensive renovation project.
The GFA (Garantie Financière d'Achèvement) guarantees that your new building will be completed. It does not guarantee how well it will be built.
The GFA is a completion guarantee from a bank or insurance company. If the builder cannot complete the project, the guarantor finances the completion. Your money is therefore not lost.
The GFA says nothing about sealing, materials, and design. Many buyers only see their property during the construction phase through photos – and almost every construction site looks good in photos.
Before I even enter the construction site, the promoter will give me a precise list of the products to be installed at the critical points.
In Mauritius, hardly anyone asks about this. Here, however, the decision is made whether a building will withstand 20 years of high humidity, tropical heavy rain, intense UV radiation and salty coastal air – or whether the first damage appears after two rainy seasons.
In the bathroom belongs Sanitary silicone with mold protection Yes. I recommend using a primer between the window frames and the plaster or concrete in a tropical climate. Hybrid sealant based on MS polymerUV-resistant, permanently elastic, adheres to aluminum as well as to masonry and can be painted over.
Pure PU sealant ages faster under the strong UV radiation. The wrong product looks the same on the first day as the right one.
Which sealing system is used – and how are corners, transitions, and penetrations executed? Nobody will ever see these areas again.
If sealing is done incorrectly, it often only becomes apparent months or years later – when finished tiles are installed.
How are the foundation, the floor slab, and the masonry protected against ground moisture, and how is the water around the building drained away?
Repairing moisture in the floor slab later requires a great deal of effort. Therefore, it should be included in the construction phase.
Cumaru or Balau In the outdoor environment, they are the right choice. Protection is crucial: designed for tropical hardwood, including the cutting surfaces.
In the interior, I pay attention to termite protection – termites don’t stand a chance at the front door.
During the construction phase, a better product can usually be easily agreed upon. After handover, the renovation begins.
Always when something is hidden afterwards.
Is the building being built according to plan? Is the building protected against moisture from below?
Are the wiring and seals installed properly?
Are the connections permanently sealed and fitted with the agreed-upon sealant?
Do the materials and agreed equipment meet the requirements?
Anything I notice, I discuss early and objectively with the promoter – with a solution proposal immediately. Promoters appreciate that, because they don’t want any complaints after the handover either.
In Mauritius, apartments are built without floating screed, without impact sound insulation and without edge insulation. Anyone who values peace and quiet should be aware of this before buying.
With PDS projects, there is quality assurance for the overall project. This is a valuable standard.
She considers the quality and compliance with the contract of the entire project.
I focus on your villa or apartment and on the details that matter to you in the long term.
The most expensive construction problems rarely arise from spectacular errors. They arise from small details that were not given any attention during planning, material selection, or construction.
A beautiful bathroom says nothing about the sealing under the tiles.
A modern terrace does not reveal whether the water flows away reliably.
A cleanly plastered window does not tell you whether the connection will still be tight in ten years.
A beautiful wooden terrace does not reveal whether the wood is suited to the tropical climate.
→ Construction phases, milestones and examples from my projects: Construction progress control & construction acceptance in Mauritius
During the building inspection, the property is systematically inspected for defects before the key is handed over. What you document during this process must still be rectified by the builder or seller. Anything that becomes apparent after the handover becomes a matter for negotiation. Therefore, the acceptance is the last moment when you have full negotiating leverage.
In Mauritius they speak of SnaggingDefects are recorded in a list (Snag List), processed, and subsequently checked for compliance.
I don't go through the rooms and look for scratches. I specifically check the areas where high subsequent costs may arise later.
Especially what you cannot see with the naked eye. For this purpose, I use, among other things, laser and moisture measuring devices.
Does rainwater actually flow to the drains and away from the building on roofs, roof terraces, balconies and window sills? In tropical heavy rain, it quickly becomes apparent whether the work has been carried out properly.
I measure specifically in the lower wall area and in the floor. I take elevated values very seriously.
I check the windows, bathrooms and terraces to see if the agreed-upon sealants were used and installed properly.
Is the wood properly protected for the tropical climate? Do the plans and agreed equipment match the results?
In the case of PDS properties, the law requires insurance against construction defects. This also applies if the construction company no longer exists or is insolvent.
Defects that were noted during the inspection or occurred during the first year (Guarantee of perfect completion)
Non-load-bearing components and home technology, e.g. windows, doors, sanitary equipment, electrical equipment (Two-year warranty)
Supporting components and defects that endanger stability or usability (Ten-year warranty)
The terms of payment begin with the transfer to the first buyer and apply to later buyers as well. However, they do not replace a thorough acceptance: Only if it is documented properly can it be enforced later on.
With a property that is already occupied, I check the condition before signing the contract, not just at the handover. Then it is still possible to negotiate who will eliminate the defects or whether the price will be adjusted.
The location, equipment and price are quickly judged. What’s behind the fresh paint isn’t.
A freshly painted wall can look flawless and still be damp. In most cases, repairing moisture in the soil area or in the base plate is very time-consuming.
I will clarify where it comes from: from the ground, from an unsealed pipe, due to poor sealing or lack of drainage. I prefer to clarify this question before buying it than after.
If the roof is inaccessible, I will set up a Professional drone with video recording One. This is how we see cracks, damage and clogged processes that remain hidden from the ground.
For older PDS properties, we also check whether any claims from the building damage insurance still exist.
For me, that is exactly what true real estate accompaniment entails: not only finding the right property, but also knowing exactly what my client will be responsible for in the end.
→ Process, measurement technology and acceptance protocol in detail: Certificate of Completion in Mauritius
With the key handover, the purchase is largely legally complete. Practically, the takeover now begins: Open defects are checked again, documents are taken over, Electricity, water and internet have been registered, and the property is being prepared for Self-use or rental prepared.
Anyone who does not live permanently in Mauritius underestimates these final steps slightly. Therefore, my accompaniment does not end in the The moment someone hands you a key chain.
Open defects from the snagging list remain on our agenda after delivery until they are proven to have been rectified.
The promoter or the craftsmen work out the agreed upon Points deducted. Then I go through the list again, point by point:
A follow-up repair that was carried out but does not solve the actual problem does not count as completed for me. That sounds obvious. In practice, it is precisely this follow-up inspection that decides the matter.
In addition to the keys, all access codes, operating instructions, Guarantees and technical contact person for delivery.
Keep these documents organized from the beginning. In two or three In years, no one wants to have to first find out which pool pump is installed or who supplied the air conditioning.
Electricity is supplied by the Central Electricity Board (CEB), water by the Central Water Authority (CWA). Several private providers offer internet services. Providers to come.
Central Electricity Board · Strom
Central Water Authority · Water
Several private providers
Depending on the property, alarm and security services
The meter readings are documented during the handover, so that Consumption and costs will be assigned to you clearly starting from that day.
If you buy from us, we support you in doing so. Registrations.
With an apartment, you become part of a homeowners’ association that is managed by a syndic.
Before the takeover, it should be determined who the syndic is and what the amount of the What are community costs and what rules apply to renting and Modifications are permitted.
In high-quality properties, communal areas account for a significant proportion of the property value. Therefore, I am interested not only in the apartment, but also in the how the entire facility is maintained.
In a villa you are more independent, but you also have to do more of the work yourself.
A villa that has been unoccupied for months needs another one. Caregiving is like a home where someone lives every day.
In a tropical climate, a property should not simply be left locked up and unattended. High humidity allows small problems to grow unnoticed until they become expensive.
For longer periods of vacancy, I recommend regular inspections on-site.
All water points should be used regularly so that the siphons do not dry out.
Building insurance should be in place at least by the time of handover Household insurance and liability insurance should be taken care of.
The insurance should be tailored to whether you are using or renting the property yourself.
With apartments, it is also important to check what is already covered by the syndic and what you need to cover yourself with.
In the German sense, technically completed does not automatically mean ready for occupancy on Mauritius.
Often there is still a lack of furniture, lighting, curtains, household appliances or Garden furniture.
Decide early whether you want to arrange everything yourself or if you need help on-site. Then the property will be ready when you arrive.
We take on the long-term rental of apartments and villas for our clients ourselves. At PDS-Immobilien, we agree on the rental in advance with the syndic or the promoter. For holiday rental, we recommend specialized partners and remain your point of contact on-site if desired.
When renting long-term, we don't just find the right one Tenants.
We remain available even if the air conditioning breaks down or a repair is needed during the rental period.
Vacation rental works differently: Reservations, check-in, Guest communication, cleaning and control between the Staying.
For that, we work with companies that do exactly that on a daily basis.
If you live permanently in Mauritius, you organize many things yourself. If you only use your property a few months a year or manage it from Europe, reliable property management makes a lot of sense.
This is not just about cleaning or gardening, but about having someone regularly check the property and report any problems. Reacts immediately to problems.
An estate is not managed by having someone visit it once a month. The bill is paid. Someone really needs to be there on site.
You don't have to arrange every service through us. Our goal is that after the handover you know who is taking care of what, and that you have someone on Mauritius if something goes wrong. You can find out what services we provide here. Consulting & Services in Mauritius.
Not with the signature for me. And not with the Key handover.
The purchase is then complete when you can use your property, all outstanding issues have been resolved and the ongoing operations are organized – even if you are not currently in Mauritius yourself.
Only then will a purchase contract become your home, your second residence, or your investment in Mauritius.
REAL ESTATE PURCHASE IN MAURITIUS
Whether you have already found a specific property or are just starting out: together we can determine which purchase route suits you best, what you should pay attention to before booking, and what next steps are sensible.
If you purchase from us, we will assist you, upon request, from the initial property inspection through EDB, notary, and construction phase to the handover and management of your property in Mauritius.
Armin SchreiberReal estate curator · Real estate developer experience since 1990
Free of charge · without obligation · in person in Mauritius
Yes, but only within government-approved programs. These include the Property Development Scheme (PDS), Smart City, IRS and RES, as well as apartments in buildings with at least one ground floor plus two floors (G+2) from a purchase price of 6 million MUR. Any purchase by a foreigner must be approved by the Economic Development Board (EDB).
Yes, for a purchase price of USD 375,000 in a PDS, Smart City, IRS or RES project. The residence permit also applies to spouses or life partners, children under 24 years of age and up to three dependent family members. A G+2 apartment alone does not automatically lead to a residence permit. You can find all the ways to obtain a residence permit in Mauritius on our page. Visa and residence permit Mauritius.
LOA stands for Letter of Approval. It is the EDB’s approval for your specific purchase. The application process for PDS projects is handled by the project company. Only with the LOA can the notarial purchase agreement be signed.
CRP stands for Contrat de Réservation Préliminaire, the reservation agreement for new construction and off-plan properties. It sets out the property, purchase price, reservation payment, and the essential terms until the notary deed of purchase is signed.
In the notary's escrow account (Escrow Account), not directly with the real estate agent or developer. This way, your money remains protected until the agreed-upon time.
In PDS projects, the purchase price is generally paid with funds from abroad, transferred through a recognized bank. If the purchase price exceeds 500,000 USD, a loan with a Mauritian bank is possible for the remaining portion, provided that the first 500,000 USD are paid from own funds and the repayment is made in foreign currency.
The registration fee is 5 % of the purchase price. In addition, there are the staggered notary fees plus 15 % VAT and the processing fee of the EDB.
Our experience shows that EDB approval takes about 1 to 6 months, depending on the property, the acquisition model, and the completeness of the documents. In the case of an existing property, the purchase can then be quickly registered. In the case of an off-plan purchase, the construction phase is added, depending on the project, from one to three years.
VEFA stands for Vente en l'État Futur d'Achèvement, the purchase of a property that is still under construction. The purchase price is collected in installments according to the progress of construction, the so-called Appels de Fonds. In PDS projects, this framework for sales is prescribed by the plan.
GFA stands for Garantie Financière d'Achèvement, a completion guarantee from a bank. It secures the financing of the completion, even if the construction contractor defaults during the construction phase.
The EDB regulations stipulate three building damage insurance policies: 1 year for construction defects during construction, 2 years for non-load-bearing components and home technology, and 10 years for load-bearing components. The 2- and 10-year policies explicitly apply to later purchasers as well.
Yes. A progress control inspection identifies defects before they disappear behind plaster, tiles, or sealants. During the construction phase, they are usually easily remedied. After handover, this often becomes a renovation case.
Snagging is the systematic inspection of defects before handover. It also checks what is not visible to the naked eye, such as moisture or unevenness. All issues are recorded on a list of defects that the promoter processes and subsequently checks again.
Yes, absolutely before signing. Moisture, the roof, targeted drainage, window connections and home automation can then still be checked, and any identified defects can be factored into the price and the contract.
Open snagging points are checked again, electricity (CEB), water (CWA) and internet are registered and the documentation is taken over. Depending on the usage, property management, rental or the supervision during your absence follows.
The syndic manages the condominium of an apartment complex in Mauritius. He is responsible for common areas such as the pool, garden, and security service, as well as for the community fees and their maintenance.
Yes. With PDS properties, the rental is agreed upon in advance with the syndic or the promoter. If the project company has not appointed a rental company, you as the owner can freely rent the property yourself. In the case of vacation rentals, the requirements of the tourism authority also apply in addition.
Yes. With PDS properties, you must notify the EDB at least 30 days in advance of the sale. The buyer must meet the program's requirements and pay the EDB's processing fee.
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