Cyprus Property Forum for Buyers, Sellers & Investors

Hello All,

Just a few questions now that our title deeds are ready for transfer:

1. Do we still need to concern ourselves with the issue of whether or not the land on which our apartment block has been built is mortgaged by the developer (we have a mortgage on our appartment).

2. Are solicitor fees of €1,200 for title deed transfer excessive?

Many thanks for advice and assistance

Hi goodros and welcome to the forum,

If your Title Deeds are ready fr transfer, you do not have to worry about a possible developer mortgage. (If there was a mortgage, the bank would not lift its charge on the deeds to enable the transfer to take place).

As for your lawyer's fees, as an Australian friend once said "he's charging like a wounded bull". A couple of hundred Euros would be nearer the mark.

Regards,

Hi

Having just completed my title deeds,i am wondering why you have to pay your solicitor unless you are not going to cyprus to collect yourself.
We had to pay a solicitor approx 100 euros to explain our mortgage revision from the bank but other than that the developer arranged all meetings with the land registry,i collected a verification slip to confirm i have paid my council tax and the bank also arranged transfer of the deeds to them so you will not require a solicitor.
Hope this helps and good luck it is a tricky system to understand.

Andy

Thank you for that Nigel. One less concern and a bit more bargaining to do. Would you believe that is our retained solicitor?

Goodros

goodros wrote:Would you believe that is our retained solicitor?

I don't understand - what's a 'retained solicitor'?

Rgds,

Nigel Howarth wrote:

goodros wrote:Would you believe that is our retained solicitor?

I don't understand - what's a 'retained solicitor'?

Rgds,

Nigel,

some lawyers as for a retainer so that supposedly, they will act for you later, cheaply or 'free'.

It is a commitment thing, you pay up front and they do the work at a lower rate.

Seems many have fallen into this trap as well.

Hope that helps

Pan

To answer the last two posts (thank you).

We don't think we will be going to Cyprus to effect transfer.

Our ' retained solicitor' - we signed an annual retainer with our solicitor which gives us legal advice, guidance an assistance, together with discounts for various services (title deed transfer being one).