do I need a UK solicitor and a Cyprus one?
do I need a UK solicitor and a Cyprus one?
Ok I've done it - fallen in love with the island and want to buy a 2- 3 bed apartment - hopefully to cover costs through renting and later to retire to... because I'm using 3rd party money - do I need a solicitor in UK as well as Cyprus? Meaning how to ensure all is completed legally - regarding names / accounts etc ?
Sue
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Re: do I need a UK solicitor and a Cyprus one?
Hi Sue and welcome to the forum.
You'll need a lawyer in Cyprus and I suggest you engage the services of one of those on the list provided by the British High Commission in Nicosia. You don't need a lawyer based in the UK.
I'm afraid the chances of renting the property to cover the costs are negligible - there are thousands of holiday homes for rent and too few people looking to rent them.
To reduce any potential risks, I suggest that you restrict your search to properties that have already been issued with their all important Title Deed.
Finally, download a copy of my free guide Buying Property in Cyprus - Golden Commandments for home buyers and real estate investors.
Regards,
You'll need a lawyer in Cyprus and I suggest you engage the services of one of those on the list provided by the British High Commission in Nicosia. You don't need a lawyer based in the UK.
I'm afraid the chances of renting the property to cover the costs are negligible - there are thousands of holiday homes for rent and too few people looking to rent them.
To reduce any potential risks, I suggest that you restrict your search to properties that have already been issued with their all important Title Deed.
Finally, download a copy of my free guide Buying Property in Cyprus - Golden Commandments for home buyers and real estate investors.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: do I need a UK solicitor and a Cyprus one?
Hi Sue,
When you select a Solicitor make sure they are not representing the developer as well - we fell foul of this & it caused many problems indeed.
Brookster
When you select a Solicitor make sure they are not representing the developer as well - we fell foul of this & it caused many problems indeed.
Brookster
Re: do I need a UK solicitor and a Cyprus one?
Sue3
It is unlikely that your rental income will pay your mortgage on any property you buy. Don't listen to anyone else who says it wiil.
Alan
It is unlikely that your rental income will pay your mortgage on any property you buy. Don't listen to anyone else who says it wiil.
Alan