Purchasers are often asked by Developers and Estate Agents to give a cash deposit to, for example, secure a particular property and take it off the market, secure the purchase price or simply show goodwill in the transaction. Often these are declared upfront to be non refundable. We don’t agree that this is appropriate because the deposit and all payments should go through your independent lawyer who will advise you whether you are a Purchaser or a Vendor.
Here is a note of the legal position. George Coucounis has helped us out with legal views before so we are happy to promote his web site. This is where the following basic legal statement has been drawn from.
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There have been reports that Cyprus Banks disagreed that a drop in the refinancing rate should also mean a drop in their base rates.
It is a clear signal to Cyprus Banks that they must cut their base rates in line with those of the European Central Bank when the island joins the euro zone in 10 days time.
Cyprus Central Bank Governor, Athanasios Orphanides said “Reading some press reports in recent days, we realised that not everyone was as sure as we were as to the correct interpretation of the law,” Orphanides said. “I was puzzled by this.”
This is a preview of Cyprus Banking Crisis Deepens – Uncertainty over Mortgage Rates . Read the full post (1005 words, 1 image, estimated 4:01 mins reading time)
A TWO-day seminar on the Cyprus housing market will take place between January 12 and 13 at the Atlantica Hotel in Limassol. On Saturday, January 12, Antonis Loizou, a Fellow at the Royal Institute of Chartered Surveyors and one of the island’s best known property experts, will discuss the present state of the housing market. On Sunday, January 13, Professor Andonis Vassiliades will discuss legal matters attached to title deeds.
The speakers will take questions from the floor and, at their discretion, written questions in advance.
Cyprus Property Help & Advice Centre™ ® ©
The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu
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From BuySell Press Release
Residential property prices in Cyprus hit another record in November as prices rose by 21% year on year, according to the BuySell Home Price Index. This is the highest year-on-year increase recorded by the index, which began in 2004.
The BuySell Home Price Index rose for an eleventh consecutive month to 141.69, recording a significant monthly increase of 2.5%, compared with a month-on-month increase of 3.7% in October.
In the year to date, prices were up by 21.5%, compared with a more modest increase of 5.9% in 2006.
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The Editor saw a tick on the Cyprus Mail news wire and could not resist publishing this !!
“Superman also referred to a recent incident, where five women were taken to an old people’s home for shelter but despite police efforts to make them testify against their employers, they refused to do so.”
Intrigued? Excited? Confused? If so read on about Superman in Cyprus !! here
(I hope that we are forgiven because the subject is a serious one underneath the seasonal mirth!!)
Cyprus Property Help & Advice Centre™ ® ©
The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu
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In April 2007 we re-published a letter from Alan Delaney that had appeared in the Cyprus Press. Alan’s letter is here, http://www.girltalk.pcs-net.com/b2/consult-official-geological-survey-before-you-purchase/
Great advice. But since then it has been pointed out to The Cyprus Informer that unless you are a professional surveyor you could have some difficulty in pinpointing exactly where a particular plot actually was very accurately on the official GSD Map (Geological Survey Department of Cyprus – The Government).
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This is the site of THE CYPRUS INFORMER. cyprusinformer.eu
It is an online newspaper which specialises in Cyprus Property News and Finance but also publishes articles of general interest in Cyprus. It has been running from December 2006.
We have no connection to CyprusInformer.com which is an new organisation which promotes villa rentals and holidays.
“The Cyprus Informer” is a name protected by copyright and it belongs to John Mason aka “dolmadis” and Zygote Limited which is registered in Cyprus.
From Who Is (http://whois.domaintools.com/cyprusinformer.com) CyprusInformer.com was only created on 08 Oct 2007.
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Most of the advice on property sites focuses only on the main developer who does the major construction work on your dream home in Cyprus.
But if you use a Cyprus based main contractor or developer for those extra paths, pergolas, fences, walls, gates, patios etc then the general advice is beware because you often pay through the nose. Often many times the market price.
Local, small Cypriot builders are often better on pricing but tend to produce work to the price, style and standard that they have always done, whatever you say.
This is a preview of How to get a Good, Small or Jobbing Builder in Cyprus . Read the full post (1057 words, 1 image, estimated 4:14 mins reading time)
There has been a flurry of articles published recently on the subject of buying a home in Cyprus. These publications have been in the Cyprus Mail Newspaper and a Magazine called “In Touch”.
(How did the Editor of the Cyprus Informer get on the front cover of Fortune? That is another story !!)
This is a preview of Cyprus Property – It should be “No Title Deeds” then “No Purchase” !! . Read the full post (1690 words, 1 image, estimated 6:46 mins reading time)
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