GreekIslandGirl wrote:Milo wrote:The Cyprus Property Scandal is Still Live......
In January 2007, ... moan moan moan
Chill out, will ya?
You need to learn to take the good with the bad.
A lot of the problems were caused through choice not to pay Property Transfer Fees.
Please don't take this personally!
The individual that highlighted this issue was not referring to individuals who were avoiding Property Transfer Fees for whatever reason. By not paying these fees, then technically they do not own the property despite paying for it. Clearly, such individuals have their own stupidity to blame.
She was referring to individuals that purchased a new build, or off the plan, who paid in full and have had handover and who do not receive their Title Deed until many years after all because the developer may have a security caveat with a Bank which financed the project. I remember a few years ago, when I was buying a property, when a relative of mine in the know opened my eyes on what is possible in Cyprus and to be very weary of the pitfalls. In the end, it was they who had looked after my interests, and even negotiated prices and so forth. I was lucky to have this assistance because it is easy to presume that buying a property in Cyprus is as transparent as buying property in Australia. It might be in most cases, as my transaction a few years ago was seamless, but sadly that is not the case 100% of the time and naturally it should be.
When people highlight these kinds of things, it is NOT an attack on Cyprus. It should disturb us to hear of such things and naturally wherever there is an injustice against anyone buying a property in Cyprus, who potentially could lose their life savings as a result, then we have little choice but to view this as an injustice to all of us and an injustice to Cyprus. We should listen to the criticism, and hopefully our politicians can take some action by passing legislation to protect property buyers and to assist in making the entire process transparent. The Brits buying property in Cyprus are mostly older retired folk who have chosen to live their remaining days in Cyprus. They have by default chosen to support the RoC, and the Cypriot people. They could have purchased stolen property in the occupied if it were a case of just making money. Obviously, the majority of people have a moral standard which prevents them from being so low.
At the very least I think it is important to listen to what they have to say. Often they highlight some real issues that need to be rectified or addressed. This is an issue which the authorities need to address. People can potentially lose everything they work so hard for. No one is saying that the RoC is wrong. All they are saying is that the RoC should look at certain loop holes which some bent Developers, Lawyers and Estate Agents use to their advantage against the unweary.
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