Buying Property in Cyprus
We at Sainte Baume Immo are well aware of the impact on your life when buying in Cyprus for the first time. We are here to help ensure that buying in Cyprus is a life-enhancing one, by making the process itself as smooth as possible.
The procedures for buying in Cyprus are different from those in your country. Wise people chose the comfort of having your own experienced professionals looking after their interests and therefore their investments, throughout the purchase and legal procedures.
Buying a property in Northern Cyprus can be a very easy and pleasurable way of owning a dream home in the sun. If some basic procedures and guidelines are adhered to, then you can ensure a smooth, safe and secure transaction takes place.
Firstly, it is very important that you employ a reputable lawyer to look after your interests and carry out all the relevant searches on your property and the land it will, or is to be built on. This will ensure your investment and monies are not in any danger.
I am frequently asked about land ownership in Northern Cyprus and the different variations of title deeds. In order to clear up any confusion, I will quickly explain:-
Land falls into 3 basic categories:-
1 Pre 1974 Turkish title deed.
2 Eşdeger or Exchange Land.
3 TMD or Gifted Land (Land acquired during the conflict).
From a legal perspective, providing all searches are carried out correctly by your lawyer on pre 1974 or Exchange Land, then there is no risk to your monies, or to the future ownership of your property. Hence you can proceed with confidence and security.
If your property is on TMD Land, then you must ensure that your solicitor makes you fully aware of any future issues that may arise as a result of a re-unified Cyprus.
Another area on which I am asked questions is with regard to additional costs. I would advise that before committing to your property, you have a break-down of all associated costs and when they are to be paid. Ensure that you and your lawyer have read and are happy with the purchase contract before signing and that all time scales and payment terms are included within it.
It is important to remember that your lawyer is exactly that……YOUR LAWYER and utilise him to clarify any points you do not understand. For this reason it is important he is experienced in Cypriot law and speaks fluent English.
In summary, make sure you are happy with your constructor, your solicitor and your location. Provided you follow the advice given above, you can relax and look forward to a trouble free process of purchasing a property in one of the most beautiful places in the world.