Cyprus-Forum.com

[Tim Drayton]

The presentation of my flat for sale is easier on the eye here:

https://www.magnoliaproperty.co.uk/details/12907

I am not sure if this is your cup of tea, but please note that the title deeds have been issued and I have 100% clean title with no charges or other encumbrances. Where the title deeds have been issued transfer of title can be done in one day at the land registry office. It takes a long time for title deeds to be issued in Cyprus and some people have even been waiting decades for them. In such cases, their only proof of title is the contract that was lodged at the land registry office, if even that was done, something that will happen if you work through reputable lawyers. The last time there was a property boom in Cyprus, developers were mortgaging completed properties with the banks and using the money to finance the next project and, in the meantime, selling the mortgaged properties to unsuspecting buyers without telling them that the bank had a prior claim over the property. Many of these fly-by-night developers then went bust. I have heard of people who lost everything when the banks foreclosed. If they had done the deal through a reputable independent lawyer, the lawyer would have checked these things and warned against buying. But so many people just went through the lawyer recommended to them at the sales office. in short, caveat emptor. I think they may have tightened up some of the loopholes that permitted developers to sell mortgaged properties, but don't believe everything you are told by crocodile-smiling, soft-soaping salespeople.