Is just finding an Independent Lawyer in Cyprus enough?
No, I don’t think so.
But I am still giving away FREE all the information you need to successfully complete a home purchase in Cyprus.
But you will need to be able to spend some time reading and understanding the information so that you are able to negotiate successfully with the developer you have chosen to build your new home. Remember that the commercial terms are between you and the developer and your lawyer, independent or not, is not responsible for for what you agree to pay, for what and by when.
You also need to provide written instructions to your lawyer stating you want him or her to deal with for you in the purchase process. There are no prescribed official professional standards in Cyprus setting out what is required in a conveyancing service. You will probably automatically assume that Cyprus is the same as the UK. It is not. The Cyprus Bar Association is not a direct equivalent of the Law Society in the UK.
It is important to put your instructions to your lawyer in writing and also get all significant matters you have discussed verbally with your developer in writing in the contract.
Even if you are buying a re-sale you will still need to make sure that the proposition is sound contractually.
Our experience is that lawyers will charge you a significant extra fee, may be up to £1000, for spending several hours going through the developer’s standard contract for sale and ensuring that it has all the provisions that you need to ensure you have a successful and trouble free purchase.
Even if you use your lawyer’s standard contract it is important that you read it and review the provisions to ensure that they match your purchase circumstances. There is no such thing as an official standard contract in Cyprus.
Shouldn’t this be part of the service from the lawyer? Yes, and Yes, it can be if you provide clear instructions of what you want the lawyer to do. Ask your lawyer to set out in writing how the fee he is quoting is calculated and obtain from him or her a copy of the fixed fees set down for certain things by the Cyprus Bar Association. Is this all you want? Be prepared to pay for additional services. Failing to do this may mean that you do not get what you want or a much bigger bill than you expected.
An example of this is where you might find your independent lawyer in Larnaca or Nicosia for your purchase in Paphos. If your lawyer needs to personally visit Paphos in the course of conveyancing it will take a full day and cost C£300 per day plus expenses and VAT. Visits to do pre contract enquiries, register a contract and apply for title deeds will cost about C£1,500 !! on top of the standard fees of C£1,000 + !!
We are not lawyers but property services consultants. You consult us on how to deal with your lawyer and get the best out of his/her services.
ETEK, Permanent Secretary, Linos Chrysostomou said “I have noticed contracts are not properly drafted and the developers and buyers usually clash afterwards. That is another word of advice to potential buyers. Have somebody go over the contract before signing.”
The Cyprus Scientific and Technical Chamber (ΕΤΕΚ) is the statutory Technical Advisor to the State and is the umbrella organisation for all Cypriot Engineers. It was established by Law 224/1990 and is a Public Law Body with an elected Governing Body.
We are offering a consultancy service for looking at your contract identifying the areas which experience tells us that you need to discuss with your lawyer. Our report comes in the form of a draft letter that you can send to your Cyprus Lawyer or Developer. A second opinion if you like. There would be a modest fee, most likely not greater than £100.
We could advise on the arrangements you may have made yourself to have your house built to your own design. Again this information is already provided free on this site but you might like to have the peace of mind of a second opinion.
How can you tell if your lawyer is independent of the purchase you are making? We could recommend ways to help deal with this issue.
What should you put in your instruction letter to your lawyer?
Alternatively all the information you are likely to need is on this site; you just have to be able to give up the time it will take to pull it together for your purchase.
If you are interested in these services please contact us.
Here is what Which?, The UK Consumer’s Association said:
“ Which?, The Consumers’ Association, has published a guide for overseas property investors, which warns of the dangers of inadequate planning.
Jeremy Davis, author of the guide, commented: “The television shows that have helped fuel our obsession with overseas property make buying abroad look easy. But in reality, finding, purchasing and owning overseas can be a time-consuming business, and turning a foreign property into a successful investment can be even more of a struggle.”
Cyprus Property Help & Advice Centre™ ® ©The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
http://cyprusinformer.eu
Related posts:
- Cyprus Property – It should be “No Title Deeds” then “No Purchase” !! 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 !!) If you don't want to read...
- Title Deeds Quote: This article was written by me. Sellers have a habit in stating that "The Property Comes with Title Deeds" as if not having title deeds is a bad position. This is not so in Cyprus and many more property transactions take place without title deeds than with them. If not then the Cyprus Property Market would grind to...
- Conor O’DywerA scandal involving a leading property developer in Cyprus may have the potential to shake to the core the credibility of the holiday homes market on the island, following allegations supported by video evidence, contracts and audio evidence that a property developer in Paralimini sold a plot of land to Conor O’Dwyer in 2005 for £163,000 and then resold a...
- Peyia StormsTuesday, November 07, 2006 Paying the Price for Rampant Development DEPUTIES yesterday blamed overdevelopment for the catastrophic consequences of recent thunderstorms in Paphos, which killed two people and wrecked buildings and crops. “Nature may be slow, but it is punishing,” said DISY Deputy Costas Constantinou during yesterday’s meeting of the House Interior Committee, which met to discuss the possible...
- Cyprus Property, Mortgages, Land, Title Deeds and BanksI am pleased to be able to explain in detail the relationship between Cyprus Property, Mortgages, Land, Title Deeds and Banks. Are these mortgages scams? It is important that each instance is considered seperately. Some instances may be scams, taking advantage of a system which can be manipulated to facilitate fraud. But, in Cyprus, we are dealing with a country...
- http://www.aloizou.com.cy/documents/AyiaNapaLectureCyprusRealEstateMarket.htm On the 12/1/08 Saturday Mr Antonis Loizou has given a lecture at Ayia Napa on behalf of the U.K. Alzheimer’s Society, which was attended by 120 mainly foreign residents in Cyprus. The subject was the Real Estate Market in Cyprus. We provide a shortened version of the speak. Real Estate Investment in Cyprus , be it a house, land...
- No Cooling Off Period with Cyprus Property Deals[Well actually, there is not one in the UK either when you sign contracts for the purchase of property.] But you need to make sure that you do have your cooling off period to stand back and make sure that everything that should be covered is covered before you sign contracts. Especially as things are so different in Cyprus. I...
- A Dream Home on CyprusA DREAM HOME ON.. CYPRUS CYPRUS HAS ALWAYS BEEN POPULAR WITH BRITS BUYING ABROAD… SO MUCH SO THAT SOME ARE NOW SNAPPING UP MORE THAN ONE PROPERTY. IF YOU’VE GOT AN EYE ON A HOLIDAY OR RETIREMENT HOME ON THE COPPER ISLAND, TRAVEL EDITOR GILL WILLIAMS GIVES HER EXPERT ADVICE ON HOW TO GO ABOUT IT... 15/04/2007 Sunday Mirror...
- “Our house in Cyprus is a very very very fine house”Dorian Kokas gives advice and helps foreigners cut through bureaucratic red-tape in Athens. What would the same situation be in Cyprus? This is my contribution to Dorian's story !! Greek Real Estate: Buying Property in Greece & Cyprus Real Estate: Buying Property in Cyprus Our house is a very very very fine house With paperwork so grand And taxmen on...
- Property RegulationsThis article has been pulled together from a variety of public domain sources Cyprus became a full member of the EU on 1ST May 2004 resulting in many changes for EU Nationals planning to purchase property in Cyprus:-Cyprus became a full member of the EU on 1ST May 2004 resulting in many changes for EU Nationals planning to purchase property...
[...] How do you find that elusive INDEPENDENT CYPRUS LAWYER that every pundit and expert says you must have? One that is independent of the developer, vendor of land and estate agent? It is a small island and many are related by loose and closer family ties. Go to another town? It is obviously much, more expensive and there is still no guarantee of independence. The Cyprus Informer would recommend getting a written declaration of independence, a clear written statement of fees and don’t forget to provide an instruction letter setting out what you want the lawyer to do. Lawyers may just refer to The Code of Conduct. Still get a declaration, statement of fees and an acknowledgement of your specific instructions. http://www.girltalk.pcs-net.com/b2/cyprus-property-buyers-2/ [...]
[...] have already posed the important question “Is an Independent Lawyer Enough”? (click on the link to [...]
[...] need any help go here before you [...]