Cyprus Property Forum for Buyers, Sellers & Investors

Hi Knucklehead and welcome to the forum. 100% of a registered Estate Agent’s commission may be used to reduce the amount on which your Capital Gains Tax is calculated. Let's say your capital gain is €100,000 and your registered Estate Agent charges you €5,000 commission. In this case, your Capital G...

Dear Claus There should be no problem discharging your current lawyer. What you'll need to do is settle your account and then ask that she sends your file to your new lawyer (assuming you wish to continue with another). Here's a draft discharge letter: Dear Ms xyz Please accept this email as notice ...

Hi Terry, It used to be the case that the main building contractor needed to be registered. However, this no longer appears to be the case as some people are doing what you are doing and effectively doing it themselves. When we had our house built, we used a licensed building contractor. He subcontr...

Thanks Chris It will be interesting to know how the bank would go about claiming the unpaid amount. I guess they'd need to go back to the developer? There was a situation in Larnaca some time ago where a builder went bust and the people who bought the apartments decided to club together and pay off ...

Hi surawy and welcome to the forum. According to law, housing complexes comprising five or more units are required to have an Management Committee that regulates and manages relevant affairs. This includes the insurance of the common parts of the complex (entrance halls, swimming pools, stairwells e...

You're welcome Laura, Unfortunately, it can take a very long time to issue Title Deeds. Planning infringements by the developer and buyers (who make changes to the property), bureaucratic delays in the Land Registry and local government departments, and mortgages that the developers fail to repay. A...

Hi Laura, At the moment, the mortgages your developer has on the land is not delaying the issue of the Title Deed. They will only become a delaying factor after the Certificate of Final Approval and the Certificate of Approval of the Division Permit have been issued and the Land Registry has issued ...

Hi Marina,

Good to hear from you again.

There's a list of registered estate agents on my website. You can download it from http://www.cyprus-property-buyers.com/f ... agents.pdf

Regarding the Estate Agent my friend is using, I've sent you a 'PM'

Regards,

Any other expenses or fees or dues or taxes in respect of, or imposed or charged on the property sold until the date of delivery of the possession to the Purchasers will be burdened exclusively buy the Vendor. The Purchasers bear no responsibility and they are not in any way liable in respect of an...

Hi Laura I'm sorry to say that this type of situation crops up too often. If the land was mortgaged before you bought the bank's claim on the property takes precedence over your claim to ownership. I'm afraid that in this situation, if the developer went bust and the bank came after its money, it co...

Thanks Ruthie

I wish you every success with getting your committee registered - please let me know how you get on.

Regards,

Hi erikah I'm sure the property market will recover at some stage, but how long that will be is anyone's guess. The financial problems are still around (I heard today that the Bank of England has injected a further £50 billion into the UK economy to help speed the recovery) - and some of the propert...

Dear Laura, There appears to be no set rule as to whether those who have bought property and have yet to receive their Title Deeds can form a 'legal' management committee. The law does not actually say who is responsible for setting up a committee - only that there must be one. Regarding insurance, ...

Hi Laura and welcome to the forum, I’ve moved your question to a more appropriate area. Late delivery is a very common problem – and if your contract states that you are entitled to some form of compensation, then you have every right to claim it. But you can only claim for things specified in your ...

Hi Terry, As far as I'm aware there is no-one on the island who's got a business securing Government grants. The people I know who had had their old houses restored/renovated - their architect prepared the applications. I know the rules are quite stringent - you can't do anything you want with the p...