Beautiful Cyprus has drawn visitors for thousands of years. Thanks to 21st century mobility, the third largest island in the Mediterranean welcomes 2. 4 million tourists each year. Many of these visitors fall so in love with the place that they start looking for real estate for sale in Cyprus before they've barely unpacked their luggage!
Whether they're drawn by estate agents from their homelands with contacts in Cyprus, or intrigued by real estate advertisements in print or on the Internet, buyers must pay close attention when buying property for sale in Cyprus. real estate laws differ from what they know, opening up many opportunities for legal pitfalls.
That's why buyers often are counseled to retain a qualified Cyprus property lawyer when they start to investigate property for sale in Cyprus. Having a reputable lawyer looking out for the buyer's interests can protect against unexpected obstacles or even illegal practices.
When interested in a particular property for sale in Cyprus, a buyer's first step should be to have his or her real estate lawyer check that the seller is the legal owner of the land in question. Next, the real estate lawyer should check the title deeds to make sure there are no legal impediments to the sale.
For instance, although it's not common, real estate for sale in Cyprus could have what's known as a "memo" laid against the land title deed. A "memo" is a legal claim issued by the court against the property for any debt owed by the seller, whether the debt pertains to the land or not. Until the debt is cleared, the land can't be sold.
After the property lawyer confirms that the seller is the legal owner, and that the land is free of any encumbrances, a contract for buying can be executed. This agreement, signed by the buyer and the seller, is the legal notice of the intention for the seller to convey title to the property to the owner. The contract specifies a schedule for the transfer, and any consequences that the seller will bear if the sale isn't completed by the deadline. The contract for buying of property for sale in Cyprus must be deposited with the District Land Registry within 60 days of its executive in order to be legally binding on the parties.
In addition to the time line, the contract for buying places the seller under legal obligation to the buyer to convey title to the property. The seller is prohibited from getting a mortgage on the property, or from attempting to enter into any other sale.
Most potential buyers arrive in Cyprus from real estate offices in their own countries who have connections with estate agents or developers in Cyprus. Developers and real estate offices also advertise property for sale in Cyprus through magazines, television and the Internet, among other outlets. Working through reputable agents, and not local unregistered contacts, is the best way to find property for sale in Cyprus that can be buyingd legally and safely. - 23309
Whether they're drawn by estate agents from their homelands with contacts in Cyprus, or intrigued by real estate advertisements in print or on the Internet, buyers must pay close attention when buying property for sale in Cyprus. real estate laws differ from what they know, opening up many opportunities for legal pitfalls.
That's why buyers often are counseled to retain a qualified Cyprus property lawyer when they start to investigate property for sale in Cyprus. Having a reputable lawyer looking out for the buyer's interests can protect against unexpected obstacles or even illegal practices.
When interested in a particular property for sale in Cyprus, a buyer's first step should be to have his or her real estate lawyer check that the seller is the legal owner of the land in question. Next, the real estate lawyer should check the title deeds to make sure there are no legal impediments to the sale.
For instance, although it's not common, real estate for sale in Cyprus could have what's known as a "memo" laid against the land title deed. A "memo" is a legal claim issued by the court against the property for any debt owed by the seller, whether the debt pertains to the land or not. Until the debt is cleared, the land can't be sold.
After the property lawyer confirms that the seller is the legal owner, and that the land is free of any encumbrances, a contract for buying can be executed. This agreement, signed by the buyer and the seller, is the legal notice of the intention for the seller to convey title to the property to the owner. The contract specifies a schedule for the transfer, and any consequences that the seller will bear if the sale isn't completed by the deadline. The contract for buying of property for sale in Cyprus must be deposited with the District Land Registry within 60 days of its executive in order to be legally binding on the parties.
In addition to the time line, the contract for buying places the seller under legal obligation to the buyer to convey title to the property. The seller is prohibited from getting a mortgage on the property, or from attempting to enter into any other sale.
Most potential buyers arrive in Cyprus from real estate offices in their own countries who have connections with estate agents or developers in Cyprus. Developers and real estate offices also advertise property for sale in Cyprus through magazines, television and the Internet, among other outlets. Working through reputable agents, and not local unregistered contacts, is the best way to find property for sale in Cyprus that can be buyingd legally and safely. - 23309
About the Author:
There is a large amount of investment property for sale in Cyprus and it is important to take legal advice before buying or selling investment property in Cyprus because, although the legal system seems similar to the British legal system, there are substantial differences.
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