do I need a UK solicitor and a Cyprus one?

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SueJ
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Joined: 19 Mar 2015 20:54

do I need a UK solicitor and a Cyprus one?

Post by SueJ » 19 Mar 2015 22:05

Ok I've done it - fallen in love with the island and want to buy a 2- 3 bed apartment - hopefully to cover costs through renting and later to retire to... because I'm using 3rd party money - do I need a solicitor in UK as well as Cyprus? Meaning how to ensure all is completed legally - regarding names / accounts etc ?


Sue
Dreaming of a Sunny Life...

Nigel Howarth
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Re: do I need a UK solicitor and a Cyprus one?

Post by Nigel Howarth » 20 Mar 2015 08:57

Hi Sue and welcome to the forum.

You'll need a lawyer in Cyprus and I suggest you engage the services of one of those on the list provided by the British High Commission in Nicosia. You don't need a lawyer based in the UK.

I'm afraid the chances of renting the property to cover the costs are negligible - there are thousands of holiday homes for rent and too few people looking to rent them.

To reduce any potential risks, I suggest that you restrict your search to properties that have already been issued with their all important Title Deed.

Finally, download a copy of my free guide Buying Property in Cyprus - Golden Commandments for home buyers and real estate investors.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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Brookster
Posts: 32
Joined: 22 Mar 2014 13:04

Re: do I need a UK solicitor and a Cyprus one?

Post by Brookster » 20 Mar 2015 15:59

Hi Sue,
When you select a Solicitor make sure they are not representing the developer as well - we fell foul of this & it caused many problems indeed.

Brookster



emgee
Posts: 41
Joined: 12 May 2008 21:32

Re: do I need a UK solicitor and a Cyprus one?

Post by emgee » 20 Mar 2015 16:44

Sue3

It is unlikely that your rental income will pay your mortgage on any property you buy. Don't listen to anyone else who says it wiil.

Alan



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