Purchasing Procedure: A step by step guide to owning your new home.
The simple procedure of buying property in Northern Cyprus has enabled the buyer to be on their way to owning their own piece of Cyprus in just a matter of days.
Firstly, we suggest that you appoint yourself a solicitor. You can use a solicitor of your choice, or we will happily recommend you one we have worked closely with in the past. Grant your solicitor 'Power of Attorney' to handle matters relating to your property purchase and to help you with checks relating to the validity of the title deed. The Power of Attorney must be registered and signed before a local Notary.
A contract is then drawn up by your solicitor, covering the terms of sale, price, payment plan, construction timescale and any extra requirements. If you are unable to stay in Cyprus to sign the contract, then the contract can be emailed to you and only once you have approved it, will your solicitor proceed with the purchase in your absence.
Then you will be required to pay the agreed deposit. Afterwhich, your solicitor will apply for your Purchase Permit from the Council of Ministers.
We will keep you updated on the progress of your property and send you regular photos of completed works. If you have chosen to purchase using our 'stage payment plan', you will have 14days within which to pay the agreed installment.
Once your property is complete and your purchase permit has been approved, you will be required to pay any agreed retention payment, at which point, the title deeds will be transfered into your name and your taxes are payable.
Now you purchase is complete and you can enjoy your new mediterranean lifestyle.