Cyprus-Forum.com

[Svetlana]

"The Cypriot legal system is based on the British model, and all investments are safe"

Perhaps, Mr Hatton will explain this to my Solictor who has a differing view!

I will then get him to sell my property at a significant profit - should have it sold by Monday.

Who does he work for...Looney Tunes Estate Agency?

Lana

[denizaksulu]

how can anywhere in cyprus be a good investment for property with so many title deed issues in both the south and the north?

This should answer your question regarding Turkish Cypriot Properties in the unoccupied area…

http://www.moi.gov.cy/moi/citizenschart ... enDocument

Bloody hell GR. No wonder I have been waiting for my deeds for the last three years.

[Tim Drayton]

how can anywhere in cyprus be a good investment for property with so many title deed issues in both the south and the north?

This should answer your question regarding Turkish Cypriot Properties in the unoccupied area…

http://www.moi.gov.cy/moi/citizenschart ... enDocument

Bloody hell GR. No wonder I have been waiting for my deeds for the last three years.

If it is any consolation to you, I have been waiting for my title deeds for about 2 years and 10 months. There are huge backlogs of deeds waiting to be issued. I don't want to scare you, but I have also heard that the Larnaka land registry office is even less efficient than the one in Limassol.

[denizaksulu]

how can anywhere in cyprus be a good investment for property with so many title deed issues in both the south and the north?

This should answer your question regarding Turkish Cypriot Properties in the unoccupied area…

http://www.moi.gov.cy/moi/citizenschart ... enDocument

Bloody hell GR. No wonder I have been waiting for my deeds for the last three years.

If it is any consolation to you, I have been waiting for my title deeds for about 2 years and 10 months. There are huge backlogs of deeds waiting to be issued. I don't want to scare you, but I have also heard that the Larnaka land registry office is even less efficient than the one in Limassol.

I thought you were trying to cheer me up. It is the Larnaca office which is dragging their feet. Oh well. Thats life. How much have I got left.

[Z4]

OMG are these people mad??

They only have to look at cases such as Connor Odwyer to see that some developers are ripping people off big time.

Some are even taking out mortgages on land that properties have been built on and have been paid for in full and the purchaser doesn't even know.

Be careful to anyone who is thinking of sinking your hard earned cash into Cyprus new build house without title deeds. You could be in for a rude awakening, God help you!!

So how many other cases do you know besides Connor's?

I am not impressed with Mr Connor's case. I don't agree with the alleged beatings he got, but to me it looks as though he thought he could screw the developer.

The beatings did happen, I can assure you of that.

[denizaksulu]

how can anywhere in cyprus be a good investment for property with so many title deed issues in both the south and the north?

This should answer your question regarding Turkish Cypriot Properties in the unoccupied area…

http://www.moi.gov.cy/moi/citizenschart ... enDocument

Bloody hell GR. No wonder I have been waiting for my deeds for the last three years.

If it is any consolation to you, I have been waiting for my title deeds for about 2 years and 10 months. There are huge backlogs of deeds waiting to be issued. I don't want to scare you, but I have also heard that the Larnaka land registry office is even less efficient than the one in Limassol.

Tim, my deeds and inheritance will be dealt by different offices as indicated by GRs post. Yesterday my Solicitor from Larnaca confirmed that, as I did raise the question of the enormous numbers of expat brits waiting for their deeds.

[rotate]

Mmm! Cyprus property values and Title Deeds again.

Ok, maybe cos I'm English we've never waited longer than six months for Title Deeds then again maybe its cos the boss is Cypriot, make up your own minds on that.

1972 Ammochostos, Old House. From purchase to Title Deed receipt = 01 month.
1986 Larnaca town, New Flat. From purchase to Title Deed receipt = 04 months.
1995 Larnaca town, New Flat. From purchase to Title Deed receipt = 03 months.
2000 Nicosia District, Old House. From purchase to Title Deed receipt = 6 months.

All offered properties had to be within the jurisdiction (actual) of the RoC built and finished with clearly defined boundaries and Title Deed with seller(s) or their mortgagee, we never bothered to look at anything without these provisos.

Purchase and Value!
1972 Ammochostos House, Best value as we've never spent a cent on it since 1974 but has accessability problem.
1986 Larnaca Flat, Sold 18 months ago at 6 x purchase price.
1995 Larnaca Flat, Company let since purchase, good return with a recent realistic valuation of 3 x purchase price.
2000 Nicosia House, village neighbours thought we were crazy when we told them what we paid, now they think we were very lucky to have paid so little. Spent a lot of money on this old place but its as we wanted without destroying any of its more interesting features. In present market conditions and sold at a realistic price we would make a profit of approx 40% after tax/legal expenses etc. Currently there appears to be no shortage of would be Cypriot buyers.

I recommend a day at the Nicosia Land Registry Office, if you dont come home without a headache then you've not been in the right place!

[Get Real!]

Mmm! Cyprus property values and Title Deeds again.

Ok, maybe cos I'm English we've never waited longer than six months for Title Deeds then again maybe its cos the boss is Cypriot, make up your own minds on that.

1972 Ammochostos, Old House. From purchase to Title Deed receipt = 01 month.
1986 Larnaca town, New Flat. From purchase to Title Deed receipt = 04 months.
1995 Larnaca town, New Flat. From purchase to Title Deed receipt = 03 months.
2000 Nicosia District, Old House. From purchase to Title Deed receipt = 6 months.

All offered properties had to be within the jurisdiction (actual) of the RoC built and finished with clearly defined boundaries and Title Deed with seller(s) or their mortgagee, we never bothered to look at anything without these provisos.

Purchase and Value!
1972 Ammochostos House, Best value as we've never spent a cent on it since 1974 but has accessability problem.
1986 Larnaca Flat, Sold 18 months ago at 6 x purchase price.
1995 Larnaca Flat, Company let since purchase, good return with a recent realistic valuation of 3 x purchase price.
2000 Nicosia House, village neighbours thought we were crazy when we told them what we paid, now they think we were very lucky to have paid so little. Spent a lot of money on this old place but its as we wanted without destroying any of its more interesting features. In present market conditions and sold at a realistic price we would make a profit of approx 40% after tax/legal expenses etc. Currently there appears to be no shortage of would be Cypriot buyers.

I recommend a day at the Nicosia Land Registry Office, if you dont come home without a headache then you've not been in the right place!

That place is so outdated and chaotic that it's employees were striking the other day... it strikes me that its the last remaining govt office that hasn't been modernised.

[Snad]

OMG are these people mad??

They only have to look at cases such as Connor Odwyer to see that some developers are ripping people off big time.

Some are even taking out mortgages on land that properties have been built on and have been paid for in full and the purchaser doesn't even know.

Be careful to anyone who is thinking of sinking your hard earned cash into Cyprus new build house without title deeds. You could be in for a rude awakening, God help you!!

So how many other cases do you know besides Connor's?

Any intelligent person would think ONE is far to many

[Tim Drayton]

Mmm! Cyprus property values and Title Deeds again.

Ok, maybe cos I'm English we've never waited longer than six months for Title Deeds then again maybe its cos the boss is Cypriot, make up your own minds on that.

1972 Ammochostos, Old House. From purchase to Title Deed receipt = 01 month.
1986 Larnaca town, New Flat. From purchase to Title Deed receipt = 04 months.
1995 Larnaca town, New Flat. From purchase to Title Deed receipt = 03 months.
2000 Nicosia District, Old House. From purchase to Title Deed receipt = 6 months.

All offered properties had to be within the jurisdiction (actual) of the RoC built and finished with clearly defined boundaries and Title Deed with seller(s) or their mortgagee, we never bothered to look at anything without these provisos.

Purchase and Value!
1972 Ammochostos House, Best value as we've never spent a cent on it since 1974 but has accessability problem.
1986 Larnaca Flat, Sold 18 months ago at 6 x purchase price.
1995 Larnaca Flat, Company let since purchase, good return with a recent realistic valuation of 3 x purchase price.
2000 Nicosia House, village neighbours thought we were crazy when we told them what we paid, now they think we were very lucky to have paid so little. Spent a lot of money on this old place but its as we wanted without destroying any of its more interesting features. In present market conditions and sold at a realistic price we would make a profit of approx 40% after tax/legal expenses etc. Currently there appears to be no shortage of would be Cypriot buyers.

I recommend a day at the Nicosia Land Registry Office, if you dont come home without a headache then you've not been in the right place!

The dates of these purchases explain a lot. The delays have started occuring a lot more recently and particularly affect new properties that require a certificate of completion from the municipality.