I hate Cyprus Estate Agents
I hate Cyprus Estate Agents
And I'll bet I am not alone.
Not only do they charge silly money in fees, typically 6% + VAT (20%), very few tell you if a property comes with full title deeds or not.
I have been searching on behalf of a friend of mine in UK who has a budget of around €100K, prefers west end of the island to the east end.
I have checked about 50 properties, after extensive scrutiny and searching questions only 4 yes! FOUR, had TDs.
These greedy crooks should be forced to state the situation regards TDs on sales they are handling.
Especially on this and the other Cyprus forums. To avoid us wasting time.
IMO
Geoff.
Not only do they charge silly money in fees, typically 6% + VAT (20%), very few tell you if a property comes with full title deeds or not.
I have been searching on behalf of a friend of mine in UK who has a budget of around €100K, prefers west end of the island to the east end.
I have checked about 50 properties, after extensive scrutiny and searching questions only 4 yes! FOUR, had TDs.
These greedy crooks should be forced to state the situation regards TDs on sales they are handling.
Especially on this and the other Cyprus forums. To avoid us wasting time.
IMO
Geoff.
Re: I hate Cyprus Estate Agents
Why is it the estate agents fault regards TD.....never mind they probably hate you too.
Re: I hate Cyprus Estate Agents
Who else would be responsible for displaying information about the title deeds on an Estate Agent site?
Have to say when we were looking last year, the information was readily available though.
Have to say when we were looking last year, the information was readily available though.
Web Designer / Developer. Currently working on Paphos Life.
Living in Polemi, Cyprus with my wife and daughter.
Living in Polemi, Cyprus with my wife and daughter.
Re: I hate Cyprus Estate Agents
Most of the Cyprus Estate agents Ive visited on line, readily tell you if a property has TD its a selling point for them.
Re: I hate Cyprus Estate Agents
Some sites have a filter for it - i.e. you can select properties only with title deeds. I think - but don't quote me - that one place - run by the Aussie guy on St Paul's Ave only offer places with title deeds.
Re: I hate Cyprus Estate Agents
What is actually the risk of buying a property without title deeds? Is it only that you´ll get no financing or are you really at risk of e. g. paying and finding out you´re not the only one who bought it? Sorry if the question seems dumb but I´m German and not familiar with the concept of title deeds (we don´t have that in Germany).
Re: I hate Cyprus Estate Agents
Jeba, go on Cyprus property news site! There are reams of information about it on there and the problems it has caused. Very unhappy situation for some.
Re: I hate Cyprus Estate Agents
@Jeba: like thousands of Brits and Europeans having purchased a new property via a Cyprus 'Lawyer' (who was also acting for the developer???) and thought they were buying Freehold?
Na na... The LAND on which your supposed 'Freehold' property now sits, is now MORTGAGED to the developer's NEXT development plan with the Bank!!! IF the developer goes tits-up, the Bank will chase YOU for debts! Madness, but true...
Cheers- AL
Na na... The LAND on which your supposed 'Freehold' property now sits, is now MORTGAGED to the developer's NEXT development plan with the Bank!!! IF the developer goes tits-up, the Bank will chase YOU for debts! Madness, but true...
Cheers- AL
Gone but not forgotten...
- Expresspete
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Re: I hate Cyprus Estate Agents
We used one of Paphos' major Estate Agents when we began sourcing a property at the turn of the year and we told them we would not buy without Title Deeds.
The EA then showed us 7 properties before we settled on a beautiful villa with a fantastic view but when our opening offer of €55k below the asking price was readily accepted, alarm bells began to ring. However, we were assured there were no problems and our lawyer wouldn't find any problems....Five weeks later our Solicitor came back with so many encumbrances, we could have physically moved a mountain before moving the legal obstacles that were tied with the property. Meanwhile, I still had to pay the Solicitor, the Surveyor, my flights and my accommodation because of their proverbial bull shine without recompense. We of course, did not persevere with the sale but sought another EA who, thankfully, had a different set of business ethics and we now relocate at the end of this month.
A month after withdrawing from our potential sale of the first villa, our original EA, re-advertised the same property and in its description said it had Title Deeds......
The EA then showed us 7 properties before we settled on a beautiful villa with a fantastic view but when our opening offer of €55k below the asking price was readily accepted, alarm bells began to ring. However, we were assured there were no problems and our lawyer wouldn't find any problems....Five weeks later our Solicitor came back with so many encumbrances, we could have physically moved a mountain before moving the legal obstacles that were tied with the property. Meanwhile, I still had to pay the Solicitor, the Surveyor, my flights and my accommodation because of their proverbial bull shine without recompense. We of course, did not persevere with the sale but sought another EA who, thankfully, had a different set of business ethics and we now relocate at the end of this month.
A month after withdrawing from our potential sale of the first villa, our original EA, re-advertised the same property and in its description said it had Title Deeds......
Living the Sunshine dream
Re: I hate Cyprus Estate Agents
Al, we bought a property in December 2015. It was very cheap as the developer was bankrupt with an €800,000 debt against his properties and no title deeds. We applied for the deeds via the new trapped buyer legislation in February 2016. Full title deeds - with no encumbrances - were issued last week, 14 months after the application.PaphosAL wrote: ↑Thu Apr 13, 2017 9:32 pm @Jeba: like thousands of Brits and Europeans having purchased a new property via a Cyprus 'Lawyer' (who was also acting for the developer???) and thought they were buying Freehold?
Na na... The LAND on which your supposed 'Freehold' property now sits, is now MORTGAGED to the developer's NEXT development plan with the Bank!!! IF the developer goes tits-up, the Bank will chase YOU for debts! Madness, but true...
Cheers- AL
Jeanne
Hanging on in quiet desperation is the English way
Re: I hate Cyprus Estate Agents
Is there a way to exclude the risk that the property is already or will be burdened with any debt or rights you might not be aware of? Is there an authority which will keep records of such things and at which you could check for existing liabilities and apply for further entries to be blocked (like the German "Grundbuchamt", the equivalent of the land register office)?
Re: I hate Cyprus Estate Agents
I'm just wondering what is so difficult in asking to inspect the title deeds of a property before proceeding to make an offer on it. If the 'owner' can't comply with this simple request, then proceed no further!
Re: I hate Cyprus Estate Agents
Will liabilities be entered into the title deeds? I thought they were only to prove who is the owner?
Re: I hate Cyprus Estate Agents
My simplistic view is that if the title 'owner's' title deeds show that he actually owns both the land and any buildings built thereon, then you are fairly safe in assuming that there are no liabilities to any third party. But perhaps I'm being naive?
Re: I hate Cyprus Estate Agents
That may or may not be correct, but it doesn´t help if the owner doesn´t have (yet) title deeds, does it?
Re: I hate Cyprus Estate Agents
If you don't (yet) have the title deeds you are not (yet) the legal owner! Simple.
Re: I hate Cyprus Estate Agents
I was told that if you owned the land, you also owned what was on it....
Re: I hate Cyprus Estate Agents
I think that would be correct if you have the Title Deeds for the land..
Trev..
Trev..
Trev..
Re: I hate Cyprus Estate Agents
Yes Jeba. It is the Land Registry Office (Department of Lands and Surveys). Although our developer had huge debts against his properties, these have all been removed on issue of our title deeds. That is what the new law is there to do.jeba wrote: ↑Fri Apr 14, 2017 7:44 am Is there a way to exclude the risk that the property is already or will be burdened with any debt or rights you might not be aware of? Is there an authority which will keep records of such things and at which you could check for existing liabilities and apply for further entries to be blocked (like the German "Grundbuchamt", the equivalent of the land register office)?
Jeanne
Hanging on in quiet desperation is the English way