Cyprus-Forum.com

[sueandsandy]

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Hi everbody

I am new to this forum. I am interested in the IPT. We are interested in buying in Phapos and have been quoted an enormous amount of money for this tax. any suggestions?

[Aiyep]

My advice would be to get your solicitor to write a clause in the contract that protects you from paying any Immovable Property Tax (IPT) for the period up until the day you receive the title deed. Ensure that the contract is worded such that the developer is responisble for all IPT charges up until the day you receive the title deed.

[nhowarth]

Hi Sue & Sandy,

As Aiyep has said, it's absolutely essential that your lawyer ensures that you are not liable to pay this tax until Title to the property is registered in your name.

And don't use a solicitor in Paphos - use one in Nicosia as you'll have a much better chance of getting independent legal advice.

NEVER hand over money or sign any papers until you have spoken with a competent independent lawyer.

ALWAYS use a lawyer whose office is in a different town to where you're thinking of buying.

NEVER use a law firm or take legal advice from a lawyer who has been introduced to you by a Cyprus property developer or vendor.

I cannot emphasise too strongly that anyone planning to buy property in Cyprus must take expert, independent legal advice from a lawyer who's experienced in property law.

Regards,

[zebedee]

Anyone care to mention the name of the developer in question? Just for information? My folks are likely to be in the same situation so it would be very helpful.

[nhowarth]

Hi zebedee

I think it would be a bit foolish of anyone to post a list of the developers that practice this scam.

It's best left to your lawyer to make sure it doesn't happen by incorporating appropriate clauses to protect you in your Contract of Sale.

Regards,