I hate Cyprus Estate Agents

[geoffreys]

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.

[WHL]

Why is it the estate agents fault regards TD.....never mind they probably hate you too.

[Dominic]

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.

[WHL]

Most of the Cyprus Estate agents Ive visited on line, readily tell you if a property has TD its a selling point for them.

[OhSusana]

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.

[geoffreys]

Most of the Cyprus Estate agents Ive visited on line, readily tell you if a property has TD its a selling point for them.

Maybe, but NOT in their adverts! (unless TDs ARE available).
Geoff.

[jeba]

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).

[darrow]

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.

[PaphosAL]

@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

[Expresspete]

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......

[Lofos-Jan]

@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

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.

Jeanne

[jeba]

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)?

[surreyboy]

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!

[jeba]

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!

Will liabilities be entered into the title deeds? I thought they were only to prove who is the owner?

[surreyboy]

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?

[jeba]

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?

That may or may not be correct, but it doesn´t help if the owner doesn´t have (yet) title deeds, does it?

[surreyboy]

If you don't (yet) have the title deeds you are not (yet) the legal owner! Simple.

[WHL]

I was told that if you owned the land, you also owned what was on it....

[trevnhil]

I think that would be correct if you have the Title Deeds for the land..

Trev..

[Lofos-Jan]

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)?

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.

Jeanne