Offer made on Property in Cyprus
Posted: 22 Sep 2019 10:48
Hi, thank you for allowing us to join your forum.
My husband and I have a question. We have received had an offer for the purchase of our property in Paphos. The offer is a fair one and we were thinking of accepting. We went to see our solicitor, the same one we used when buying the property 12 years ago and signed a Power of Attorney. It now appears that the purchaser wanted to pay to our solicitor a 'cash' deposit to which he could not accept (understandably). The solicitor has not told us not to go ahead with this sale as we think he would of if he thought it was a dodgy transaction. The deposit money is sitting with the agent and we are back now back in the UK. We are nervous of this sale now because it doesn't feel right to us. We were told by the agent that the buyer took all of his money out of the Bank (when the Banks were having problems in Cyprus because he didn't trust them) and when he tried to put his money back into another Bank so he could buy property the Banks would not accept it. We have told the agent that we would not accept cash in this way and want the proceeds to be paid in the normal way through Bank to Bank from a Solicitor's client account. They are going to see what they can do. Does this sound very suspicious to anyone and can we pick the brains of other members on the forum who have sold a property in Cyprus and what the procedure is for paying over the proceeds. Your help and advice would be very appreciated. All procedures and a step by step selling advice would be really helpful.
Thanking you in advance
My husband and I have a question. We have received had an offer for the purchase of our property in Paphos. The offer is a fair one and we were thinking of accepting. We went to see our solicitor, the same one we used when buying the property 12 years ago and signed a Power of Attorney. It now appears that the purchaser wanted to pay to our solicitor a 'cash' deposit to which he could not accept (understandably). The solicitor has not told us not to go ahead with this sale as we think he would of if he thought it was a dodgy transaction. The deposit money is sitting with the agent and we are back now back in the UK. We are nervous of this sale now because it doesn't feel right to us. We were told by the agent that the buyer took all of his money out of the Bank (when the Banks were having problems in Cyprus because he didn't trust them) and when he tried to put his money back into another Bank so he could buy property the Banks would not accept it. We have told the agent that we would not accept cash in this way and want the proceeds to be paid in the normal way through Bank to Bank from a Solicitor's client account. They are going to see what they can do. Does this sound very suspicious to anyone and can we pick the brains of other members on the forum who have sold a property in Cyprus and what the procedure is for paying over the proceeds. Your help and advice would be very appreciated. All procedures and a step by step selling advice would be really helpful.
Thanking you in advance