Cyprus Property Lawyers: Questions to Ask

Questions to Ask

Questions to Ask And Answers To Get Before Buying Property From A Property Developer In Cyprus.

SOME KEY ISSUES FOR BUYERS

1. Why is it safe to buy property from the property developer?

2. Does the property developer take out mortgages on the land of developments after the apartments or villas that is built on the land has been sold and some instances mortgaged by the buyer?

3. How can I buy a property from the property developer with a waiver that releases my property from the developer’s mortgage?

4. How and when are final building permits issued?

5. What are the due diligence steps to follow, that will ensure that I will receive my title deeds sooner than later when I purchase property from the property developer?

6. Property Tax – Will I be charged only for my portion of the property (if in a development) based upon the land values as at 1980?

7. Sale of property before I have received my title deeds. What are the fixed costs of canceling the contract and a new contract made with the new buyer of my property?

8. Does the property developer acknowledge that the laws and procedures related to buying property in the UK compared to Cyprus are not similar?

9. Why should I use an independent lawyer and not the developer’s lawyer? Why should my independent lawyer perform due diligence?

10. Why is my lawyer insisting all payments are made through his office?

11. When can I take delivery of my property?

12. What is Due Diligence?

13. What does land registration really mean?

14. Why don’t I receive my title deeds straight away?