I want to buy a property but I am worried !! should I be?

PaulH143


Joined: 06/04/2010
Posts: 6

Message Posted:
06/04/2010 20:00

Hi , new here so hello to you all , I am seriously thinking of buying a property for my retirement (in 15 years ).



My thinking is buy now while property prices are good .



My problem is having read the "forum" it seems to be full of negative items , so who do I trust building wise , who is the best solicitor , where is the best area to be looking . it seems an endless minefield .



So I need you nice people to enlighten me and put me on the right path .



Many Thanks in advance

PaulH

maimee


Joined: 03/03/2010
Posts: 23

Message Posted:
06/04/2010 20:34

Have a look at HBPG website. Loads of useful info there.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/04/2010 20:36

The right property, at the right price, with the right title deeds and you will have a bargain.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
06/04/2010 20:44

But be prepared to pack a noose with you, just in case!



Richard

puppylover



Joined: 05/05/2008
Posts: 1427

Message Posted:
06/04/2010 21:24

Paul



Bad/negative news travels fast....good news doesn't.

Don't be put off by the negative (but do not ignore it!).



There are plenty of good stories, we are very lucky to be one of them.



I am sure other members will give you some sound advice.

Have you visited the island? If not, you must.

It may suit what you are looking for, it may not.

Talk to people who have made the move, everyone will have a different experience and this will give you a clearer picture of some of the do's and don't when buying property abroad.

catalkoykid


Joined: 15/02/2009
Posts: 1190

Message Posted:
06/04/2010 21:33

since the echr ruling its about as safe as it will get

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
06/04/2010 21:37

Buy a re-sale. Not off plan or any part finnished shell...too risky...too many developers under financed and struggling to finish anything off.

Be aware that legal firms and estate agents in TRNC are not at all like those in UK. They fall very short of what you might expect in UK. They arTake nothing for granted.

Do not pay any money up front without written accountability for service or goods to be provided for the agreed money. You will certainly be fed a load of propoganda..be prepared to filter this and get the true facts.

Check, check again and then take further advice from eg people on this forum who are very much up to speed about all that is TRNC.

You are very right to buy right now and certainly the opportunities are there.

Filter out the trash, the unbelievable and damn right lies and be prepared to be ascertive, demanding and if you need to walk away and onto the next oportunity.



Very good luck to you. I am confident that your property deal is there for you to secure

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/04/2010 22:05

Short answer to your question, - yes!



All too many innocent people who have bought property have found nothing but misery and distress. The Orams are just one such example.



Another such example I've just read again - http://www.cyprus44.com/forums/1661.asp



I'm sorry to say you simply can't trust advocates, estate agents, builders or the trnc legal system.

TheSaints



Joined: 28/01/2009
Posts: 1369

Message Posted:
06/04/2010 22:14

Nothing negative from us, our purchase, service connections etc have gone smoothly without any hiccups at all

laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
06/04/2010 22:21

We too have had a smooth purchasing/connections experience. Agree with WA 24 7 - do your homework first and go into it with our eyes open.

dizzycows


Joined: 12/05/2009
Posts: 2736

Message Posted:
06/04/2010 22:58

Same as laptagal, we have not encountered any real problems, just nitty gritty ones that you would get in any purchase... In fact reading all the negative, the horror stories, the bad luck some people have had makes me feel quite guilty that we bought ours within a week of seeing it, paid for it, as soon as all amenities connected, got Kocan, permission to purchase etc all fairly easily.... So just do as your gut feeling is telling you. BUT, dont by off plan! buy already built at least a couple of years old, then you can see what the settlement is etc on your walls....

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
06/04/2010 23:15

I agree with WA 24 7.



Despite the fact that I bought a place under construction and then waited two years longer than planned for a finish - I am still very happy and met no serious obstacles.



Buying a re-sell is by far the safest option as you can see a feel everything about the place and not have to rely on builders promises or brochure pictures.



Visit, rent a while, and get a feel for the place before commitment.



Beware also of hidden 'extras' such as electricity connection fees, water connection fees, Belediyesi fees, etc.



Most importanly, believe the good people on this forum. They won't steer you too far wrong.



Good Luck,



DD

nursy1


Joined: 21/08/2009
Posts: 12

Message Posted:
06/04/2010 23:35

We also have had a smooth purchase and have just recently received our kocan . We had been coming out on holiday for a number of years and had good friends who advised us. Our solicitor Is Naomi Mehmet and Co. who we would highly recommend. Our construction company was Alaska who we had no problems with. Our apartment was partly built when we viewed. I wouldnt buy off plan and if I was buying again I would go for a resale only because of the time it takes to finish. There are always the prophets of doom and gloom but if you do your homework and come out a few times and look round a few estate agents and ask questions before you commit I certainly would have no problems buying again. I am sure you will find what your looking for.

BeeKeeper


Joined: 29/09/2009
Posts: 137

Message Posted:
06/04/2010 23:52

Buying from builders can be wonderful though - if you choose a good company.



I've just bought from Eurocoast and have hugely enjoyed the whole process. The location is fantastic - the architectural design is beautiful and the quality of the build is first class. What's more, the sales/after sales service & support from Bill and Julia is just superb. Obviously, make your own enquiries - don't just take my word for it - but if you want a new build, in my view, you can't do better. Their motto seems to be underpromise and overdeliver - and they promise quite a lot.



My solicitor was good too - Dervise Cerkez.

professoregit


Joined: 30/08/2008
Posts: 381

Message Posted:
07/04/2010 00:06

There are bargains to be had at the moment, so a resale is a good bet. Most importantly make sure the Kochan (deeds) are in hand and easily transferable (no mortgages outstanding). Ensure the land the build is situated on does not encroach on military land/bases. Be very careful on choice of solicitor, talk to people, find a solicitor who does not just specialise in conveyancing. Look for someone who also practices contractual law to draw up your contract. You will be surprised how many conveyancing firms out source contactual lawsuits

if the shit hits the fan. Lastly Rent, Rent, Rent and get to know the place, the property market and most of all the people. That should stand you in good stead. Good luck!

sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
07/04/2010 00:34

we bought even when the orams case etc was hanging over everything,i dont regret it for one minute,now in my opinion is a window of opportunity to get a lot of property for your money,sooner or later NC and its property market will catch up with the rest of the world,reunufied with the south or not.Dont buy offplan,you dont need to either! I used Naomi Mehmet,cant fault them for the legals,i personally dont care whether property prices go up or not,i just think its a wonderful place to be.

PaulH143


Joined: 06/04/2010
Posts: 6

Message Posted:
07/04/2010 01:01

See I knew I could rely on you guys , Thank you one and all .



Paul

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/04/2010 07:45

The Cyprus expat community ( North and South) is very transitory. People leave for so many reasons - illness, alcoholism related diseases, divorce, homesickness, death, etc.



Therefore, if you are prepared to be patient and visit regularly, or rent for a while, you can score a really primo property - and this (fact) doesn't sound very nice, by taking advantage of someone else's misfortune.



However, don't be a mug and get sucked into buying 'off-plan' - there are too many horror stories!



Buying a resale is the best bet, as a decent one should have all the utilities - water, electricity, generator, landline telephone, established garden and pool - everything with 'the bugs ironed out'. When you score a property like this at a bargain price, it's time to uncork the Champagne!

frankedad


Joined: 21/11/2008
Posts: 346

Message Posted:
07/04/2010 08:42

a friend of mine owns a 3bed stone villa overlooking the sea at alagadi . it is a stunning location and sadly he must sell and is an absolute bargain. pool and terrace & bbq overlook the turtle sanctury and alagadi beach..beautifully furnished . 3 years old now , no damp, settlement or major problems. is also a great rental opportunity / investment any interest call 0090 533 8499471 . near girne 10 mins or the golf course 5mins ,and a foot path 300m leads to one of the best unspoilt beaches in cyprus..

flowerfairy


Joined: 17/09/2008
Posts: 1277

Message Posted:
07/04/2010 09:16

Paul,

Stuart Hillard is the only qualified chartered surveyor on the Island. If you find a property that interests you, give him a call. Even if the property is a resale, he knows many builders here and their building/ethical standards. You may pay him a few 'bob', but in the end, he could save you thousands.

His number is 0533 861 2330.

Also, try visiting both sides of the island, I love where I live and am pleased we didn't settle the other side of Girne, and i'm sure that can be said for people that live in Catalcoy, Esentepe way.

Happy hunting.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/04/2010 09:42

Remember that a 'villa with fantastic views' often means 'unsealed or downright dangerous access road(s)'!



Most TRNC so-called 'villas' are only hastily and shoddily 'built' concrete tents with no insulation, damp course, or indeed, any architectural merit!



Therefore be prepared to boil in the summer (unless prodigious and expensive use of aircon), or freeze in the winter, unless you have an efficient (read expensive to buy and run) heating system.



These 'houses' are not constructed to your UK, or in my case, New Zealand, standards.



Therefore, basically, you only get what you pay for - many may disagree!

PaulH143


Joined: 06/04/2010
Posts: 6

Message Posted:
07/04/2010 11:41

Thanks Fairy and Tenakoutou , noted . Thanks to you all . No point trying to sell me someting here (to those who are) as i am no where near ready yet , just looking ahead . I have land in Canada to sell first .....unless you want to swap !!!!!! lol I thought not .



PS Tenakoutou...... when I break out the Champagne , is that the start of alcholism ! , thus the circle continues?

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
07/04/2010 11:45

Paul

Dont rush, 15 years from now ,property will still be a bargain in NC.There is huge glut of holiday homes Europe wide as countries thought building millions of holiday homes was the answer to flagging economies,a double whammy as with the current financial situation ,holiday homes will be the last thing on peoples minds for many a year. .Concentrate instead on the lifestyle and if it will suit. Rent for a few years.



Anway if you buy cheap and sell cheap you havent lost.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/04/2010 12:10

One cynic once told a crowd of us: 'Never put a penny into Cyprus that you aren't prepared to lose with a smile!'



Girne 29 has certainly 'put the ring round' the whole deal - that, alone, must be worth 'breaking out the Champagne' for!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
07/04/2010 19:28

Hi,



I have a stunning 4 bed 3 bathroom with sea views at Esentepe. Prime area. 10 x 5 mtr swimming pool.



It is fully furnished to a very high standard. Mainly British neighbours.



Mains electricity connected and mains water on the way. Absolutely no problems.



Must be seen! Circumstances dictate that we have to retreat to UK.



Absolute bargain, with all facilities and top quality bed linen for 8 included.



Gardens fully landscaped, shed. Unused barbeque. Top quality garden furniture for 8.. MUST BE SEEN.



£165,000 ALL inclusive. NO OFFERS.



Photographs available. Send your E mail address to Wynyardman@btinternet.com for gallery of photographs.





wynyardman

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
07/04/2010 23:05

impressed with the quality of advice here



nonetheless, very important to get to know the place really well:

despite its small size, north cyprus is really quite diverse, can cater to many tastes

mix business with pleasure, see as much as you can, keep your ear to the ground

renting lets you get the feel, place may/may not be right for you



the much maligned off-plan only worked at all when the "club med" countries

had a fast expanding holiday homes sector when the money flowed in exponentialy

nowadays like the man on a bicycle or a shark, the sudden stop means a fall is likely



but you can negociate on-plan or just-finished and sometimes secure a real bargain,

...provided the developer is honest and adequately capitalised...

and you find a decent lawyer too, see this site for advice and anecdotes



be sceptical about claims of "turkish title", gc's occupied most of the north pre-1974

...and anyway, land registrations are now called trnc title



good luck

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
08/04/2010 00:08

I think most people would advise WATER is the most important issue.



Lapta & Alsancak generally are well served without too many problems.



Can't speak for anywhere else.



DD

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
08/04/2010 00:10

"...provided the developer is honest and adequately capitalised...



and you find a decent lawyer too.."



Ah, now there's the rub..

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
08/04/2010 08:39

Msg 28:



But surely they are, Hector - by Cyprus standards!

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
08/04/2010 10:47

Dear Paul....MAY be interested...please send me your canada details to scw@freshice.net

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
08/04/2010 22:00

I'm surprised no one has advised not to buy a property built on exchange land (ask the Orams) and that the 'safe' title is Turkish title (if you can get PTP).

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
08/04/2010 22:18

Hector

Of course everything is safe, just ask the misled land/home owners in the South of the Island and of course Spain and also I have heard Portugal appears to be having some problems not to mention some the ex Soviet Bloc countries. Not quite sure why you are hell bent on targeting the TRNC.

AJ

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
08/04/2010 22:54

"Not quite sure why you are hell bent on targeting the TRNC."



Maybe because a) this is a TRNC forum b) because it's true (I only wish it wasn't)

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
08/04/2010 23:05

hector,



I'd like to back up aj and remind paul about serious problems elsewhere:



firstly, high cost

north cyprus is good value and the overall risks are no more than anywhere else



secondly, rip offs

bulgaria and spain are notorious, either criminality or the builder going belly-up



thirdly, documentation troubles

area around burgos spain, farmers want cash but unwilling to sign

in croatia you think you have a deal but maybe 15 relatives need to say yes



fourthly, beauracracy

in france there is arcane paperwork, and the notary may need an ok from the vendor's kids



fifth, secret loans on the property

our friends south of the green line are skilled in this well-known deception



sixth, planning and ownership restrictions

eg in spain italy mexico dubaietc



seventh, promised infrasructure never materialises

egypt



eighth, fears of crime

south africa, brazil ...and country areas in spain can be prone to burglaries



ninth, east europe

mafia and market crashes

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
09/04/2010 10:16

"fourthly, beauracracy



in france there is arcane paperwork, and the notary may need an ok from the vendor's kids "



Damn Frogs ,all that paperwork they take so seriously.If I want to be ripped off I should be allowed to be without the French civil law preventing it.



From the list it looks like the TRNC has managed to take the different problems from individual countries and combine them all.

andre 514


Joined: 31/03/2008
Posts: 1163

Message Posted:
09/04/2010 10:34

girne 29



I was trying to illustrate that these problems are universal

...while there are aspects where north cyprus needs to sort itself out,

it is in many ways unspoilt by mass development, is free of the euro

and there is some carry-over from earlier times like driving on the left



also it has a certain charm, and certainly is unique



many of the country's critics have been personally unlucky (I'm sorry)

or perhaps have some sort of axe to grind: but then don't we all?



andre

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
09/04/2010 15:47

Andre

I know there are problems elsewhere,but is" the overall risks are no more than anywhere else" what you really would advise a potential buyer.If you had said' some other places' I would have agreed ,its the 'anywhere' else I disagree with.

If I had bought in France at one time and was now considering NC, your advice would lead me to believe that the process was no better or worse than I had experienced in France.

gunner


Joined: 06/11/2009
Posts: 20

Message Posted:
09/04/2010 17:32

we have a 2 bed bungolow in ozankoy 3/4 of a donun with title deeds for sale 8x4 overflow pool 10x8 garden shed with all garden furniture BBQ furnished Landscaped gardens huge parking area arched doors and windows £129 950 email us jcs@cyprus.com or call 0533 845 1497

jerryj


Joined: 25/10/2009
Posts: 56

Message Posted:
09/04/2010 21:19

Yep - there is problems, but with the right builder/developer these go away. Cannot fault our developer, everything delivered ahead of contract - That was five years ago.

But under the present climate of the construction industry being almost non-existent, I would suggest a good resale.

And on that note, we unfortunately are having to sell up and move back to the UK. So; We have a large 3 bed bungalow, 2 bathroom, 2 lounge, dining/kitchen. 8x4 pool, and loads of extras, for sale at £138,000, reduced from £160,000, for sale in Ozankoy, just off the Belapais road.

This bungalow is a 'walk in home' no more builder/developer fuss. It has been our home for 5 years.

So if you fancy a chat about it call Jerry on 0533 8664651

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
10/04/2010 13:50

PaulH143





E-mail me abkellis@hotmail.com . for info

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
10/04/2010 13:50

correct address abkellis@hotmail.com

PaulH143


Joined: 06/04/2010
Posts: 6

Message Posted:
10/04/2010 22:18

pipie ...what type of info !



Thanks to you guys again , I will be coming but in a while yet , I will say again , THERE IS NO POINT TELLING ME YOU ARE SELLING ........I AM NOT READY !!



I BET I GET MORE .!!



Where is the military area to avoid please .



Paul

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
11/04/2010 00:05

"Where is the military area to avoid please ."



Unfortunately all too many places are near a military area even if you can't see it. Best advice is to buy a pre 74 Turkish title property from a UK citizen who got their PTP AND the kocan is in their name. Then check & double check (you can't rely on your advocate to check for you believe it or not ) and then check the property and area with the BRS & HBPG.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
11/04/2010 12:34

Best thing to do is what the government keep telling people to do..............apply for ptp before signing any contract of sale. This is what the HBPG are also advising buyers to do.



Pre 74 is very hit and miss, near military or not. It is now common to be refused on the grounds that this is "restricted land" with no definition of what this exactly means.



You should only buy having gained a full insight into the political implications of purchasing in the TRNC and you should follow the dos and dont's for buying as advised by the HBPG.