Cyprus Property Forum for Buyers, Sellers & Investors

When selling a house when the Title Deeds are ready what is the best option :-

1. to purchase the Deeds and then transfer them to purchasers.

or

2. to let the purchaser purchase them.

or is there other options that are preferred / cost effective for seller ?

Thank you

helpful herbie wrote:When selling a house when the Title Deeds are ready what is the best option :-

1. to purchase the Deeds and then transfer them to purchasers.

or

2. to let the purchaser purchase them.

or is there other options that are preferred / cost effective for seller ?

Thank you

If the title deeds are ready to be transferred to you, but not yet done so, you can draw up an assignment contract with the buyer (releasing you from paying for them), and then the new buyer can have them transferred to them, thus paying the fees. There are costs involved in doing this method but nowhere near what the deeds will cost.

IMHO, it is the seller that is responsible to pay the assignment contract registration at the land registry, although there are some in the Paphos area that think it is the buyers.

if I were a buyer I would refuse to pay this, since I also have to pay for the deeds.

Good luck.

Just to add to what Pan has said, the Land Registry charge for depositing an assignment contract is 0.5% of the sale price in the original contract of sale OR 0.5% in the contract of assignment, whichever of the two is higher, with a minimum fee of €50 and a maximum fee of €3,000.

Regards,