Cyprus-Forum.com

[sarahk]

How did you find your buyer? Did you find the buyer privatley or through an agent? If you need further help please advise. If you keep on top of this situation a property sale should not take that long however if your buyer is having problems raising the finance you should be a little patient as buyers are a little hard to come by at the moment however you should discuss the discount offered as it was not just a discount it was stipulated it was for a quick sale.

[sarahk]

"Are you not using a lawyer to deal with this for you?" asks SarahK.

Mmm, let's see. Is he using a lawyer?
He is asking random people for advice on a website forum.
Is he using a lawyer?
I'm guessing......er No!

You will see from the reply I recieved yes they are using a lawyer.

[friends474]

How did you find your buyer? Did you find the buyer privatley or through an agent? If you need further help please advise. If you keep on top of this situation a property sale should not take that long however if your buyer is having problems raising the finance you should be a little patient as buyers are a little hard to come by at the moment however you should discuss the discount offered as it was not just a discount it was stipulated it was for a quick sale.

I actually put it on ebay to sell, i was desperate for the cash to save my business, which may i add i have now lost because she has taken so long.
no shes not having problems she has the money there, shes been very ill which i can understand, but still she had a 2 bedroom apartment for 55,000 it was on sale wity cyprus properties for 92,000 i had it on ebay for 67,000. she said all she could afford was 55,000 but would pay cash straight away with no messing about, that was why she bought it whitha large discount. i actually had another offer for 75,000 at the time and the reason i turned that offer down was because they had to remortgage there house and i couldnt wait i needed the money straight away. if i had gone with that offer it would have been done quicker than 4 mths.
she really wan ts this place and i feel like i dont want to let her down now, but i am very upset about it all.
I actually dont even need to sell the apartment now.

[Doratis1980]

Since you didnt sign any contract and you just recieved an amount as in advance payment the other side should be the one worrying more.. They cannot deposit any contract to the land registry in order to make their buying safe( through spacific performance). The best thing is to send them a letter stating that they are in breach of contract (of the orall agreement) and that you are terminating the said agreement (u can give a deadline if u want to). You will also inform them that the advance payment will be kept by you as a waranty-safety for any damages or losses you may suffer beacuse of their breach.. After sending that letter you can look for a new buyer(u can even search from now since the property is "clean")..In case u didnt suffer any other damages or losses, a refund of the advanced payment(either full or part) can be given only when you find a new buyer at the same( or even higher ) price than the one you agreed with them.

[friends474]

well here i am again 6 weeks later and i still havnt received the money, the buyer keeps giving me excuses she said that she will be visiting cyprus next month and then she will do the searches and nesessary paperwork then. but that means nothing to me because she will always find another excuse.
I have told her that if she cannot pay the full amount owed to me by the 7th july then i am no longer selling it to her. she replied telling me she will not be paying untill she as the searches done isnt this breaking the agreement??? so i have listed the property for sale yet again with an estate agent. i was then told the buyer rang the estate agent and told them that the apartment belongs to her. the estate agent emailed me and said that our lawyers will have to agree that there will no longer be a sale before they can sell the property for me.
IS THIS TRUE? it seems so unfair, the buyer had it for 55,000 because i needed a quick sale, 20,000 less than the asking price that was nearly 6 months ago. no paperwork has been done she just sent me a cheque and i sent her the receipt.

[friends474]

Since you didnt sign any contract and you just recieved an amount as in advance payment the other side should be the one worrying more.. They cannot deposit any contract to the land registry in order to make their buying safe( through spacific performance). The best thing is to send them a letter stating that they are in breach of contract (of the orall agreement) and that you are terminating the said agreement (u can give a deadline if u want to). You will also inform them that the advance payment will be kept by you as a waranty-safety for any damages or losses you may suffer beacuse of their breach.. After sending that letter you can look for a new buyer(u can even search from now since the property is "clean")..In case u didnt suffer any other damages or losses, a refund of the advanced payment(either full or part) can be given only when you find a new buyer at the same( or even higher ) price than the one you agreed with them.

sorry i just re read this again this is very helpful. can i send this to her lawyer myself or does my lawyer have to do it?
thanks x

[Jerry]

Post the property details on this forum, someone could be interested. If you want some more advice take a look at:- http://cyprus-property-buyers.com/forum/

I think its run by a Brit who knows all about Cyprus property.

[sue101]

Hi

I can recommend a good lawyer if you want to change yours. You can call me on 99279984 for details.

[friends474]

Post the property details on this forum, someone could be interested. If you want some more advice take a look at:- http://cyprus-property-buyers.com/forum/

I think its run by a Brit who knows all about Cyprus property.

thankyou i will have a look

[baby-come-fly-with-me]

Hi, my job is to deal with property sales from start to finish and many times beyond that point on a daily basis.

On acceptance of the property being sold by you there should have been an offer and reservation drawn up stating the persons name, address passport details, lawyer dealing with the sale for you and for them, price of the property and stage payment / payment terms to be agreed by both parties and whether the property was being bought for cash or via a bank loan. On this form the reservation amount for the property is stated usually a minimum of around five thousand euros. This can be marked as refundable or non refundable however if the person is serious about buying and knows it is possible to raise the funds they should be happy for it to be non refundable and 20% of the property value should be sent to you within 20 days or on signing of contracts.

The searches stated are all standard and take a week to two weeks to complete. Are you not using a lawyer to deal with this for you?

Hi, thankyou you have clearly answered everything i needed to know.
yes i do have a lawyer but he never replies to my emeails and when he does it makes no sense to me.

I asked him these questions nearly a week ago, with no reply.

Hi you can call a lady named India (very nice genuine english lady) You will find her number on her website which is based in tala, locationlocationcyprus. she is a good friend and is fantastic with what she does, and the guidence and advise she gives is 100% genuine and true fact, she will be more than happy to help, if you call her tell her you have communicated with fay.
hope this helps and good luck
h