Cyprus-Forum.com

[Tim Drayton]

If you are looking at resale I would of thought most would have deeds. Saying that from the horror stories circulating I may be wrong.

It depends how long ago the current owner bought the property. I bought my flat in February 2005 and am still waiting for the title deeds to be issued. So, if for some reason I had to put the flat on the market, it would be with the title deeds pending.

[Z4]

If you are looking at resale I would of thought most would have deeds. Saying that from the horror stories circulating I may be wrong.

It depends how long ago the current owner bought the property. I bought my flat in February 2005 and am still waiting for the title deeds to be issued. So, if for some reason I had to put the flat on the market, it would be with the title deeds pending.

I know someone who has been living in his house for 2/3 years, but the house is now seven years old, still hasn't had his deeds!

[Bill]

If you are looking at resale I would of thought most would have deeds. Saying that from the horror stories circulating I may be wrong.

Hmm ~ with deeds often taking around 5 years plus to be issued and much longer if the developer has taken out a mortgage on your house / land to finance his next project you would be surprised how many resales don't have deeds .

The story is always the same ~~ "They will be available very soon" sadly that "very soon" can run into many years ~ during that time you don't own the property you have paid for ~ the developer does ~ which to me is not a satisfactory state of affairs.

Personally I wouldn't buy resale without deeds or for that matter off plan even though thousands do and they eventually get their deeds ~ well some do as I consider it far to risky.

There are lots of honest developers but equally there are dishonest ones too ~ the system in Cyprus really needs a shake up .

It's interesting to note that one of the main selling points of buying in Cyprus apart from the sun, sand and sea is that the legal system is supposed to be the same as the UK ~ in actual fact nothing could be further from the truth and it's a real minefield ~ not the safe stress free experience they portray.

Not only are deeds a problem but on the east of the island it seems that quite a few buyers are accepting and moving into new builds that have no mains electricity supplied ~ they have a generator supplying a group of houses / flats which will often trip out if there's a high demand such as switching the oven on ~ Ive heard of properties being without mains electric for up to two years .

To me this unsatisfactory and I wouldn't accept the property but many do especially when they have waited so long for it to be built and out of frustration just accept it and move in .

Bill

[purdey]

Told you I may be wrong. I was lucky I bought with title deeds available upon exchange, but there was no property market to speak of then.

[Feisty]

Anyone know what the position is when the purchaser has taken out a mortgage on the property?
I THINK, in fact am fairly sure, that when I took out a mortgage on one of my properties the bank made the developer pay off the mortgage he had on the land and only gave me the mortgage when they held ownership of the land my house is built on, until such time that my mortgage is paid presumably.

[Bill]

Told you I may be wrong. I was lucky I bought with title deeds available upon exchange, but there was no property market to speak of then.

I bought when the property was 95% complete ~ this seemed sensible to me as I could actually see what I was buying.

The developer came highly recommended and one of my friends next door neighbour was involved in the building and vouched for the build quality.

I was promised the title deeds within six months and true to his word six months later I received a call from my solicitor stating the deeds were available and I had also received my permission to buy from the council of ministers .

Mind you this was 15 years ago ~ sadly it isn't the same ball game nowadays and there are a lot of hoops to jump through before you can say the property actually belongs to the buyer.

Bill

[carolh]

This was advertised on Anglo Info site!

Beautifull House in Monagrulli hills, 10 min from Limassol - 275 square meters, with land 600 square meters.8 min from tourist area of Limassol. House is in quiet area, has beautiful sea and mountings view, 4 bed rooms, Jacuzzi, sauna, swimming pool, garage for 2 cars. Prize is 495 000 EURO

If you have some questions you can write me to my e-mail: [email protected]

[Patrick]

Hi, for a nice house with 4 bedrooms and a garden on a 1000m plot with title deeds for 450.000 Euro you will have to be prepared to move some distance away from Limassol in my opinion. You will have to compromise for that price on at least one or two of your criteria.

[Flo]

I am reaching that conclusion. No sign of the property value decline yet!

To others who pm'd me (I can't send pm's yet) re homes in Polis thank you so much but it has to be Limassol.

Raymanuva I may be in touch.

[Feisty]

I'm no expert but I'd imagine you'd find it where there is no thriving business community.

Does anyone know where all this excess of resale property is, I can't find it?