Cyprus-Forum.com

[Sotos]

A foreign friend of mine wants to buy a new apartment in Cyprus. What are the procedures he should follow? He found a few apartments he likes, now what? He will need to take a mortgage from a bank here. And new apartments do not have title deeds yet ... is there any way to ensure that the apartment has no problems and that title deeds will be issued?

[Svetlana]

I suspect it will now be hard to get a mortgage if there are no Title Deeds; obviously the Lawyer will do a Search and ensure there are no mortgages or Encumbrances on the property and lodge a copy of the Purchase Contract for Specific Peformance. However, i can say from personal experience that all this does not guarntee safety.

[Sotos]

Thanks Lana. So should hiring a lawyer be their next step? Are there any specific lawyers that deal with these kind of cases? Is there anything that can be done to guarntee safety or minimize the risk?

[Jerry]

A foreign friend of mine wants to buy a new apartment in Cyprus. What are the procedures he should follow? He found a few apartments he likes, now what? He will need to take a mortgage from a bank here. And new apartments do not have title deeds yet ... is there any way to ensure that the apartment has no problems and that title deeds will be issued?

This chap knows what he's talking about, http://www.cyprus-property-buyers.com/p ... uying.html

Mind you he is a bloody foreigner!

[bill cobbett]

Hateh reh Sotos, given what we know there's only one way to get anything like a guarantee that they'll be no probs.... get your friend to buy a resale with completion certificates and title deeds ready for checking and transfer.

[Svetlana]

Yes, that's the only true safe way (buy resale); I did all the right things, used a long standing Pahian family lawyer firm and still it has gone badly wrong even though there was never a mortgage on my land (developer's or mine). Still fighting for my Title Deeds (€23,000 on). So maybe best not to take advice form me LOL!

[Sotos]

My friend wants new apartment ... not off-plan, but new up to 4-5 years old. Isn't it unlikely that a new apartment will have title deeds?

[bill cobbett]

My friend wants new apartment ... not off-plan, but new up to 4-5 years old. Isn't it unlikely that a new apartment will have title deeds?

Some will have deeds, some won't ... but for your friend's protection as well as to protect your own reputation and the friendship.. tell them not to go near anything without deeds, simples.... even though they may love the sun and sea and have found some nice apartments.... imho.