Don't miss your chance to get a home for under 10k Guaranteed!
If this sounds too good to be true, it's not!
We are one of the largest Liquidators of foreclosed homes in the United
States and for the first time ever we are opening our TOP SECRET
VAULT OF INVENTORY to the public through our brand new exclusive
membership site.
INVESTORS, AMERICAN DREAM SEEKERS, RENTERS, AND JUST ABOUT ANYBODY!
This is the IRRESISTIBLE OFFER!! HOME OWNERSHIP IS YOURS FOR THE TAKING!!!
There has been growing interest amongst many people in recent times to own properties in this tiny Mediterranean island known as Cyprus. Considering its size compared to the level of interest, one wonders why they would pull such a great deal of attraction. The fact of the matter is that there are several factors that form the bases of these moves. For instance, many English speakers are trooping there to purchase properties, make massive investments in other business ventures, seek memorable holidays etc.
One factor many people will consider even before they embark on any adventure is to consider several issues like the prevailing climate, language as well as relative stability of the country. These are some of the things luckily the country can boast of. Being a British colony, English speakers feel homely visiting there not forgetting the beautiful atmosphere are lots of history to enjoy.
In your bid to own a house in Cyprus, you would have to go through some formalities as with many countries. It would interest you to know however that the conditions are not necessarily as difficult as you may think. However, the processes discussed in this article are what pertain with the Republic of Cyprus and not the Northern Cyprus.
You will need a Cyprus lawyer to guide you on the right approach to go. This is because you will be required as a foreign national to secure an approval from the government before buying the house. This is obtained from what is known as the Council of Ministers. This can take you from a period of eight to fourteen months. This will depend on your knowledge on the right procedures to go. This is where a Cyprus lawyer can be of immense help. Additionally, there are many good bilingual lawyers out there who will be able to handle your issue in both your language and that of theirs.
The next thing to do after you have had the approval and have duly identified your property is to go ahead for the signing of the preliminary contract. You are then required to post a holding. You will have to do this with a rotary or a Cyprus lawyer. In some cases, the deposit can be as little as one percent of the total cost of the house.
What also will be done is the secondary deposit that is reserved for allowing the property to be taken off the market.
The lawyer will also be needed to make investigations into the title through the office of District and Registry.
To obtain your financing, the simplest way is to do that is through a Cyprus bank. This is also quite easy in the sense that most of the bank operations are quite friendly to the needs of western countries.
When, the lawyer has completed the appropriate investigation and the right payments executed, what is then left to do is getting the parties involved in the final stage of the contract. After the right signings are successfully completed, then they go ahead to file it with the land registry office.
So you see how easy and simple the whole process can be. It is also very much recommended that you entrust these processes into the hand of a Cyprus lawyer to get you a peace of mind.
CYPRUS TITLE DEEDS – PROBLEMS AND SOLUTIONS
Following on from the first interview on the Title Deeds issue (click here for a report on this), in this highly informative 25 minute second interview, Giovanni Kouzali offers existing and future buyers really positive and practical advice.
If you have not yet purchased a property, we strongly advise that you watch this DVD in order to avoid the pitfalls which have occurred for some past purchasers of Cyprus property. However, for those who have bought and have already experienced problems, he also shows that all is not lost. Change is afoot and everybody who is involved in the cycle – from agents to banks – has a role to play in bringing about change.
So who are the key players in the process of buying and selling property in Cyprus? In this interview, Giovannis lists all of them. Buyers, agents, developers, banks, land registry offices, government departments, mayors offices and solicitors. All of these parties, according to Giovannis, must bear a larger or smaller degree of responsibility for the current situation, all must take action to change the situation for the future and all especially must show their own “due diligence”. “First of all the Title Deed situation is everybody’s responsibility. If anybody says it is not their responsibility, that is definitely the person to blame … But we will not kill this market, we will make this market much better and more efficient. That is our priority and our task!” (Giovanni Kouzali)
What can a buyer do to avoid problems in the future? Coming primarily from the UK and other western European countries, where the legal, banking and government authorities are more highly regulated, many new buyers will perhaps be surprised to hear on this DVD a top Cyprus lawyer informing them that they themselves must take responsibility and show this due diligence in making sure that they way they buy is as free from pitfalls as possible. This is some of the advice he gives to new buyers: Giovannis expands on one of the main ways in which property developers must take their share of the blame for why this title deeds problem has developed in Cyprus. All too frequently on a large development, when the developer receives payment for the first houses completed, instead of taking this money to the bank and asking the bank to issue a “waiver” for that part of the mortgage (effectively cancelling out that part of the debt), he has used that money instead to buy other land to start new developments. This means that neither the developer nor the owner can in turn apply for the Title Deed on that property.
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNF1oOi0i9VvMfYhABCVIl0pynp6Jwamp;url=http://www.cyprus-mail.com/business/cypriot-businessman-suing-russian-ministry-over-arrest/20120204bbCypriot/b businessman suing Russian ministry over arrest/b/abr /font size=-1bfont color=#6f6f6fCyprus Mail/font/b/fontbr /font size=-1George Philippides, who manages the assets and oversees investments of several offshore Russian companies in bCyprus/b, had flown to Moscow to negotiate a payoff of a loan owed to the Bank of Moscow. According to Philippides#39; blawyer/b, Christos Clerides, b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=dmden5RI9cMZcSMamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGHKGqBMAKTznDU5bUlKMsvQMXYZQamp;url=http://www.cyprus-mail.com/cyprus/kykkos-monastery-sues-businessman/20120204bKykkos Monastery sues businessman/b/abr /font size=-1bfont color=#6f6f6fCyprus Mail/font/b/fontbr /font size=-1According to the monastery#39;s blawyers/b, Christofi#39;s company allegedly stopped paying rent in January 2010, resulting in the debt creeping up to around €750000. bLawyer/b, Costas Velaris, described accounts and audits related to the complex as “a monument of b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=d1h8RZwsThwlL4Mamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFy_k_ulvHwairIbGpRvlDzQKUI9wamp;url=http://www.guardian.co.uk/politics/2012/feb/05/lord-ashcroft-collapsed-caribbean-firm?newsfeed%3Dtrueimg src=//nt2.ggpht.com/news/tbn/tvnB2C7pKktzAM/6.jpg alt= border=1 width=80 height=80 /br /font size=-2The Guardian/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNFy_k_ulvHwairIbGpRvlDzQKUI9wamp;url=http://www.guardian.co.uk/politics/2012/feb/05/lord-ashcroft-collapsed-caribbean-firm?newsfeed%3DtruebThe mystery of Lord Ashcroft and the paradise island business empire/b/abr /font size=-1bfont color=#6f6f6fThe Guardian/font/b/fontbr /font size=-1The Tory peer, who has given the party more than £10m, is spending a small fortune on blawyers/b and spin doctors to deal with inquiries about his relationship with Johnston, whose interests before it collapsed with debts of $30m stretched across Belize, b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=d30wBdcEio9G8SMamp;ned=usnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGgQ-U5dzdHDgP4p_G4pGuzELpY8Qamp;url=http://www.news.cyprus-property-buyers.com/2012/02/04/paying-for-my-developers-illegalities/id%3D0010576bPaying for my developer#39;s illegalities/b/abr /font size=-1bfont color=#6f6f6fCyprus Property News Magazine/font/b/fontbr /font size=-1If the irregularities are serious, I will have to pay substantial fines to the bCypriot/b authorities for the crimes of my developer. Eventually, I might get a Final Certificate of Approval and a Title Deed. However, the Title Deed will specify all the b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=dxzU_OsGIXjtnPMamp;ned=usnobrb/b/nobr/a/font/div/font/td/tr/table
table border=0 cellpadding=2 cellspacing=7 style=vertical-align:top;trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serif/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbr /div style=padding-top:0.8em;img alt= height=1 width=1 //divdiv class=lha href=http://news.google.com/news/url?sa=tamp;fd=Ramp;usg=AFQjCNGOHvXZBYw-HSptUxYPEZXelJaZCgamp;url=http://rapsinews.com/judicial_news/20120131/259870676.htmlbbCypriot/b businessman sues police for interrogation in Bank of Moscow case/b/abr /font size=-1bfont color=#6f6f6fRAPSI/font/b/fontbr /font size=-1Head of bCyprus/b-based One World company George Philippides, a witness in the Bank of Moscow case, is planning to sue investigators, the Moscow News newspaper reported on Tuesday referring to Philippides#39;s blawyer/b. It was earlier reported that the b/b/fontbr /font size=-1 class=p/fontbr /font class=p size=-1a class=p href=http://news.google.com/news/more?ncl=dQrtU4tvMgb9MqMamp;ned=usnobrband morenbsp;raquo;/b/nobr/a/font/div/font/td/tr/table
