Cyprus Property Forum for Buyers, Sellers & Investors

Hello

I have managed to secure a buyer for my apartment. I have a tenant with an agreement until June this year. The buyer wants to buy the apartment with the tenant in situ and to keep him in the tenancy. He is also not bothered if the tenant moves out.

I have highlighted this to be included in the Contract of Sale which my solicitor is looking at as I noticed that the initial draft mentioned that the property needs to be sold "free of third party encumbrance."

The buyer is a cash buyer so does not need a mortgage. He is happy to not include any mention of the tenant in the Contract of Sale to avoid any complications, delays and extra legal costs.

Is the fact there is a tenant likely to cause any problems or delays and should I include this in the Contract of Sale?

Thanks for any advice.

Hi Michelle

The property is "free of third party encumbrance" as there are no monetary claims against the property (such as an outstanding mortgage, unpaid tax and other debts.)

The fact that there a tenant in the property will not cause you any problems.

Regards,

Thank you Nigel