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Procedure for property purchase ?

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Procedure for property purchase ?

Postby charliechoice » Tue Jan 24, 2006 11:30 pm

I am travelling to Cyprus in Febuary of this year with the intention of viewing various apartments for sale, and I would be most grateful if someone could explain the buying procedure. What I would like to know is, if I view a suitable property and wish to purchase will I be required to carry out all the legalities there and then. We are only staying for seven days and i am concerned that this would not be long enough to hire a solicitor and carry out all the other necessaries. Or would I be able to leave a deposit, return home and sort things out from there ? Any adice would be much appreciated.

Regards Charlie.
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Postby TonyC » Wed Jan 25, 2006 12:24 pm

I suppose it depends who you buy from. I bought from a reputable developer. I paid a 2000CYP non-returnable deposit (to get me on the hook) and the rest is fixed back home. Find a solicitor while you're in Cyprus - if you're buying from a large reputable dealer, they'll probably point you in the right direction as they have no intention of conning you.
I chose my dealer because they are represented by a well-known reputable property dealer here in Norway and have lots of developments behind them.
In all events, it's the seller that's making money from the deal - they won't drop you because you've only got 7 days (minus the time it takes to find a property you fall for). If you say you want to fix everything back home, I can't see them refusing. :P
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Postby nhowarth » Wed Jan 25, 2006 1:08 pm

Hi Charlie,

When buying property in Cyprus, it is essential that you take expert, independent legal advice and agree lawyers fees before you start looking for property.

Do not sign any papers or hand over any money until you have sought advice from an independent solicitor with whom you can communicate effectively.

Under absolutely no circumstances should you use a solicitor who has been introduced or recommended to you by a vendor, agent or developer.

You will find more information, hints, tips and advice on my web site. Just click on the 'www' button below this message to visit.

Regards,
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Postby cyprusgrump » Thu Jan 26, 2006 8:07 am

This site (and many others) are packed with information on buying property here – including all the possible pitfalls.

Spend time reading all the ‘property’ posts you can before you leave the UK.

Spend time finding the ‘right’ property for you – don’t get carried away with the view as you’ll spend less time than you think looking at it when you live here! Think more about day to day access to shops and amenities, how long it will take you to get to the airport, etc.

Spend time thinking about services for your property – too many people buy homes without essential services like electricity on the promise that it will be available ‘soon’ – in fact never buy a property that doesn’t already have an electricity supply!

View other properties built by the same builder – remember that large developers subcontract the building work so don’t just look at property built by the developer but built by the company that will actually construct your home.

Don’t hand over any money before you have reviewed the contract. Get copies of the plans and think of what alterations you would need/like and get them agreed before you sign the contract. You’ll get most things (extra electrical sockets for instance) added free before you sign the contract but find they attract a hefty ‘extras’ bill after.

And lastly, as has already been pointed out, get independent legal advice. The big developers have ‘tame’ solicitors that won’t question the standard contract. you want someone that will question it and add penalty clauses, etc.
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Postby Agios Amvrosios » Thu Feb 02, 2006 6:48 am

buying a house in Agios Amvrosios is easy as pie only 3 Steps involved:

1) Kill rape ethnically cleanse the orginal Greek Cypriot inhabitants who have legal title to basically every square inch of the joint- you can skip this step the Turkish Army has already done this for you.;

2) draw up your own title documents using crayons ;and then

3) put up some cheap lego land architecture on a refugee's block of land.

See its easy.
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Postby nhowarth » Thu Feb 02, 2006 10:03 am

Hi Agios Amvrosios

Just to clarify something. Elswhere, I said that I lived near Agios Amvrosios - I meant the one in Limassol District, not the one in Kyrenia in the Turkish occupied area.

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