BUYING A PROPERTY IN CYPRUS

1. Research the developer.

2. Research the project before you buy. Ensure that the service they offer is what you expect and want. Speak to other owners and find out what their experience in purchasing was like. 

3. Ensure you are financially able to commit to the purchase BEFORE you sign any documents. If in doubt speak to the developer through your lawyer / agent about having refundable deposits. Meet your banker before you sign any contracts.

4. Property must have Planning Permission and Final Building Permits. If the property doesn’t have these yet, make sure your solicitor puts change clauses in the contract for these documents and schedule payments to be on production of these documents.

5. Make all the due diligence through an independent solicitor.

6. Ensure the contract of sale is in favor for you and not the developer. Ensure that you fully understand each clause BEFORE SIGNING.

This entry was posted on Wednesday, March 4th, 2009 at 9:22 pm and is filed under Property in Cyprus. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.