Cyprus Property Forum for Buyers, Sellers & Investors

I tried to buy an Apartment in Larnaca in April, safely. One would think it an easy thing to achieve in modern day Europe. Well, not so when dealing with lying Estate Agents and Developers in Cyprus.

Estate Agent: Apartment 1.
1. Advises that Title Deeds are due in approx. 3 months so its worthwhile to view a particular Apartment. After negotiating and agreeing a price (which in itself - negotiating - I feel was suspect) my INDEPENDENT Lawyer points out to me that 3 months for Title Deeds and its more like 5 years. Deal fell through.

Developer: Apartment 2.
2. Developer states categorically there is no Mortgage on on the Apartment in a nice block. Price is negotiated and agreed. INDEPENDENT Lawyer determines that the whole block is in process os being put up by the Developer as collateral to the Bank for the next Project build.
Deal fell through.

Lies and lies and lies. Buyers beware in Cyprus. Use an Independent lawyer who saved my bacon.

Vah

Hello Vah,

As you have found out, many property developers and agents will tell you what you want to hear rather than the truth.

I'm pleased to hear that you managed to find a decent lawyer - was it one from the British High Commission's list?

Regards,

Nigel,

Thanks for your help over the past couple of months.

I think it might be a blessing in disguise that any purchase is delayed as the value of the Euro is plummeting.

No it was a genuine family run Solicitor. I was going to use the one on the British Commissions list but I was recommended another by a close friend.

Vah