Search finds developer Mortgage
Posted: 10 Jan 2018 16:28
The Solicitor has come back with this search report on an apartment I am interested in purchasing:
The property is constructed on the immovable property with Registration No. 0/5645 situated at Pyla Village, Larnaca District, Cyprus. At this plot exist two mortgages from G.N. HASAPIS BROS LTD and G. HASSAPIS & SONS LTD and we will required a Bank Waiver to be issued, for the Mortgage 4/Y/5496/2006 dated 14/09/2006 with the amount of €1.435.225,21 and Mortgage 4/Y/8438/2007 dated 20/11/2007 with the amount of €2.733.762,31, both from Alpha Bank.
Also we have been informed that G.N. HASAPIS BROS LTD and G. HASSAPIS & SONS LTD are no longer under the management of George Hassapis as Director since the 23rd of December 2017. The above companies are under the management of the Receiver Mr. Leonidas Kimonos who can act as a Director. I will inform him about the required waivers.
Would I be wise to back out of this purchase?
The property is constructed on the immovable property with Registration No. 0/5645 situated at Pyla Village, Larnaca District, Cyprus. At this plot exist two mortgages from G.N. HASAPIS BROS LTD and G. HASSAPIS & SONS LTD and we will required a Bank Waiver to be issued, for the Mortgage 4/Y/5496/2006 dated 14/09/2006 with the amount of €1.435.225,21 and Mortgage 4/Y/8438/2007 dated 20/11/2007 with the amount of €2.733.762,31, both from Alpha Bank.
Also we have been informed that G.N. HASAPIS BROS LTD and G. HASSAPIS & SONS LTD are no longer under the management of George Hassapis as Director since the 23rd of December 2017. The above companies are under the management of the Receiver Mr. Leonidas Kimonos who can act as a Director. I will inform him about the required waivers.
Would I be wise to back out of this purchase?