Moving to North Cyprus - Advice

GinaGee


Joined: 08/07/2011
Posts: 7

Message Posted:
08/07/2011 17:12

Hi All,



I am new to the Forum but have visited TRNC on numerous occassions. We have finally decided to take the plunge and move over there.



Due to being on holidays in the past I am obviously unaware of the best way and the best people/companies to help with the purchase of a property in the North.



Our plan is to rent for 3 months and use this time to search for our ideal property. I have read previous threads asking for the same advice but in my recent experience, things change over there so much from week to week that I felt the need to ask the question again.



Any input would be great.



Thank you x

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/07/2011 17:14

Why are you moving here?

jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
08/07/2011 18:06

Gina you are doing the right thing by renting first & when you are looking to buy you need to make sure that the property comes with title deeds & all mains services connected i.e. make sre it's not still on builder's electric and water is not being tankered in.

Good luck & hope you find something you like.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
08/07/2011 18:22

Jimmy,



good advice to Gina. However how does she ensure that the deeds will be handed over? All properties have deeds, its just a question of whether the seller chooses to hand them over.



There is only one sure way to buy safely. It was on a thread the other week( ? by Flightholiday ) in which he stated that a builder was willing to rent properties until their PTP was approved and then if the renter wished to buy, exchange of deeds could occur, with a discount on the final house price because of the time spent renting. This is the only way of ensuring you get deeds on money exchange.



You are right Gina should ensure the seller and not their builder has the deeds but in reality she has absolutely no guarantee that the deeds will be exchanged.

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
08/07/2011 18:23

ginagee Msg 1 - I know of a builder / agent who sells new and "resale" properties - he offers a special deal that if you rent a property from him and then buy it he will refund the rental you have paid (probably taking it off the purchase price). Rent and don't sell up in the UK until you are happy with your new home and North Cyprus.

If you want some more information and an introduction (not sales talk) then feel free to email me. Tom info@flightholiday.co.uk

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
08/07/2011 19:43

Hi there,



Please e mail me,i may be able to advise you,



brod@brod.karoo.co.uk



Paul.

GinaGee


Joined: 08/07/2011
Posts: 7

Message Posted:
13/07/2011 00:26

Hi All,



No1Doyen, we are moving there because we are in a position to do so, make a positive change in our lives and we are a little jaded with the UK. We have looked at Spain (due to the short flight for family and friends visiting us) and also Cyprus South (DON'T SHOUT AT ME). We found the North to be more traditional and less hectic, plus prices were so much cheaper. I just don't want to fall into the hole that seems to have caught out many people who have already made the move.



Bradus/Flightholiday, this sounds like a great idea. Do you have the name of the company who will do this? Also, has this been a proven success in the past? I am just wary but maybe this company is picking up where others have failed and can make a difference to purchasing a property over there.



Newlad, I will email you and your views/advice will be much appreciated. We will only be able to do this once!!!!

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
13/07/2011 00:59

Gina Msg 7 Contact me off board info@flightholiday.co.uk I will introduce you. Tom

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
13/07/2011 01:02

Gina,

If I do my best to briefly explain the buying process, you might be able to see why the above safeguards your investment. When you see a property you wish to buy, as well as drawing up a legal contract between seller and buyer you also have to apply for permission to purchase. Unfortunately this takes on average 2 years. Obviously most builders will not wait this time length so you have to pay in full before your PTP is confirmed. Problem is that until you get your PTP the seller cannot handover the deeds. Actually even if you have PTP there is no legal obligation for him to hand them over. The big problem is then, that despite you having paid in full, the developer remains the legal owner and if he runs into debts he can use your property as his assets to settle this debt. You can read more about memorandums by using the Google Box at the top of the page. It is said that there are 1,400 properties with memorandums attached. By no means a small problem!

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
13/07/2011 01:08

GinaGee;

mail me on ironhorseturk@hotmail.co.uk if you'd like to rent.Will send you details of my property I'm selling/letting.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
13/07/2011 01:09

By renting, you can test the property you are considering buying and also wait until your PTP comes through without handing over anything but your rent. When you do get PTP through, you have the trump card because you only hand over your money in exchange for the deeds. You can actually accompany the developer to the land registry and only when this has been done do you pay for your property.



This offer from this builder is well worth exploring until the laws change to safeguard purchase.

Hope this helps.



Bradus

GinaGee


Joined: 08/07/2011
Posts: 7

Message Posted:
13/07/2011 11:44

Bradus, Thank you for that. I am going to speak to my husband this evening, as this sounds like a really good idea.



Two years for PTP? I was unaware that is would take that long. We intended to rent for 3 months but obviously renting for 2 years and then having to pay for the property makes a difference to us.



Does anyone know why PTP takes 2 years? Is this always the case?



We were thinking (hoping) to actually purchase a property that was lived in already and established, therefore no snagging etc. Also this would help out the seller if they were wanting to return to UK or just no longer used the property and wanted the cash for future. We have no intention of buying new or on a planned development. Would this make a difference to PTP?



I am trawling the internet and to be honest, I dont feel any wiser about the situation, hence me posting on Cyprus44 for advice.



Thank you all for your input, much appreciated.

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
13/07/2011 15:54

Gina Msg 7 & 12 Contact me off board info@flightholiday.co.uk I will introduce you to the builder who I know who makes the rental but refund rent on purchase offer (I am not trying to sell it to you). Tom

PS Personal things are best kept off board for your own security.

cyprusairsoft



Joined: 22/06/2009
Posts: 2066

Message Posted:
13/07/2011 17:24

dont worry about ptpmine has taken 4 years got it and my deeds now



you have the advantage of knowing what to purchase and include most of us were led up an alley 5 -6 years back



good luck and welcome to north cyprus we love it really

flamefabs


Joined: 09/07/2011
Posts: 193

Message Posted:
14/07/2011 06:14

with all the things that have happened and may happen in the future, i think i'd be inclined to rent - full stop.



leave your money in the bank and let the property owner have all the probems.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
14/07/2011 08:47

msg15 flamefabs........Exactly..........

ray.johnson1



Joined: 04/05/2009
Posts: 90

Message Posted:
14/07/2011 12:32

DO NOT BUY OFF PLAN

Tonyta


Joined: 11/06/2011
Posts: 122

Message Posted:
30/07/2011 17:32

Just looked at this request for information. When I entered into my contract with the builder my Cypriot solicitor asked why I did not trust people. I replied that it was business not a marriage. I am in the process of offering my villa for sale and to overcome the purchasers problems I will be offering the following safeguards that you must ask for when you see a property you wish to buy. Draw up a legal contract and then apply for permission to purchase. Pay in full before your PTP is confirmed. The seller should then put the deeds in the hands of YOUR solicitor with a signed statement that once the PTP has been completed the handover of the deeds can take place. You could at the same time be given the power of attorney over the property, to avoid any problems with the seller. This should not be a problem for the seller as they will have been paid the amount they required. Hope this helps.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
30/07/2011 17:45

Tonyta

I don't regard your idea as safeguarding your/any buyer. What do you mean 'put the deeds in the hands of YOUR solicitor...' It's not the deeds but what's recorded at the Land Registry as to the owner/mortgage/memorandums on the land/property that's vital. If you mean put the property in the advocates (remember not to call them solicitors as per the UK) name, then you have to trust the advocate, pay the (usually large) fees (plus annual admin) and the TAXES both when transferring to the advocate and then into the buyers name. Being given a power of attorney doesn't totally avoid any problems with the seller as all too many people have found out when a mortgage or memorandum of debt has been taken out on the property. I appreciate you are trying to sell your villa and wont to put a rosy view on things.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
30/07/2011 19:47

Taking the advice of local advocates caused us to lose half our life savings - I urgently advise you to pay heed to Hector's sound advice. Failure to do so could very likely cause you similar losses as ourselves! You will be told TRNC law follows UK law practice - DON'T EVER BELIEVE IT!



Even before setting foot here, I strongly advise you to read up on CY44 archives!

Jefferson


Joined: 17/05/2010
Posts: 360

Message Posted:
30/07/2011 20:56

Hi gina. You can rent for as long as you like. The money you have put by for the home, invested at 8% or more will more than cover any rental you have to pay . Allow for up to a year to find your ideal place and do not be rushed by "bargains". It is , and for the foreseeable future will be, a buyers market. It is a lovely place to live but by looking at the forum you will see whose posts are helpful and who to ignore.



Wish you lots of luck,

In my experience don't use Dolphin to move.



TJ.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
30/07/2011 22:17

In Three Words !! DON'T BUY,RENT.......fore the foreseeable future, you will thank me in the end.......

bertieboss


Joined: 22/07/2011
Posts: 149

Message Posted:
31/07/2011 01:35

Don't do it !!!

collinson


Joined: 28/07/2011
Posts: 30

Message Posted:
31/07/2011 08:51

come on holiday for a month.



take your time.



speak to as many people as you can for a balanced view.



go to some homebuyers groups and listen.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
31/07/2011 09:19

my advice - stay well clear.



far far better places to live.

Tonyta


Joined: 11/06/2011
Posts: 122

Message Posted:
31/07/2011 21:03

Hi Hector, message 19.



I used the words solicitor as I was assuming that as both seller and buyer came from the UK.

It should then be possible for the contract to be drawn up in the UK, with the usual safeguards.

Paperwork then completed in Cyprus.



If not, how do you suggest such a deal can be completed without recourse to an advocate?

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
31/07/2011 23:48

"It should then be possible for the contract to be drawn up in the UK, with the usual safeguards."



What safeguards?



And no you don't have to use an advocate. I never thought I'd find myself saying that but I have absolutely no faith in TRNC advocates who owe no duty of care to their clients, have no liability insurance and an almost non existent disciplinary process. What qualifications do they have? Do you think their charges are reasonable?

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
31/07/2011 23:54

Wait until 2019

collinson


Joined: 28/07/2011
Posts: 30

Message Posted:
01/08/2011 07:08

message 28 - whats happening in 2019 ?

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
01/08/2011 07:23

mess 29 - whats happening in 2019 ? - the same old same old...........

mobags


Joined: 18/10/2009
Posts: 91

Message Posted:
05/09/2011 14:07

Ginagee

We bought ourv propert through Homebuyers estate agents who were terrific

Peter is one of the most honest men I have met, he doesnt try to confuse yo he just tells it how it is, We have had no problems whth the purchase of our property.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
05/09/2011 14:30

There is a way you can get your deeds whilst waiting for PTP. When you hand over your money, the seller hands over the deeds to the property to their solicitor or yours, who keeps them safe until the time comes. That way the seller can't take them and borrow money against them. Once your purchase contract is stamped by the lands registry and a notary your contract is safe. It is your property and nobody can take it from you.

I think if i remember rightly our PTP took around 15 months.

blade


Joined: 19/06/2010
Posts: 1286

Message Posted:
05/09/2011 14:30

There is a way you can get your deeds whilst waiting for PTP. When you hand over your money, the seller hands over the deeds to the property to their solicitor or yours, who keeps them safe until the time comes. That way the seller can't take them and borrow money against them. Once your purchase contract is stamped by the lands registry and a notary your contract is safe. It is your property and nobody can take it from you.

I think if i remember rightly our PTP took around 15 months.

flightholiday


Joined: 19/07/2007
Posts: 3217

Message Posted:
05/09/2011 14:30

Gina Msg 1, 7 & 12 I take it that you have had a change of heart as you have not posted nor contacted me.

I hope all is OK and that your dreams of a new home go well no matter where you will be travelling to.