This page contains a Flash digital edition of a book.
Buying a Home in Cyprus
4
A Practical Guide to Successful Real Estate Purchase - Top Tips Supplement

Introduction to buying property
Buying property in Cyprus is extremely easy and you’ll have no problem
finding something to buy and someone eager to sell it to you. You can:
g374 Buy for cash: This is very easy. If you’re buying a resale property,
you can take possession in a matter of weeks. If you’re buying a new
property off-plan from a developer, you can pay in stages as its
construction progresses.
g374 Raise money on your home: This can also be achieved relatively
easily by re-mortgaging your home to finance the purchase.
g374 Obtain a mortgage from a Cyprus bank. Depending on
circumstances this may be more difficult and more expensive than
raising the capital required by some other means.
For various reasons, the legal completion of your purchase may take many
years. But, once you’ve signed the contract and handed over the money,
you can take possession of the property relatively quickly; usually within a
month (assuming that it’s already been built).
The Cyprus inheritance laws are different from those of the UK. If you have
assets in Cyprus, such as a property, you need to review your existing Will
to ensure your estate is disposed of in accordance with your final wishes.
Sounds easy doesn’t it - perhaps a bit too easy?
Unfortunately, buying property in Cyprus is all too easy and leads some
people into making costly mistakes.
Many people fail to appreciate that property is the national sport of Cyprus
with many individuals and companies playing the game with varying degrees
of skill, professionalism, honesty and integrity.
© Nigel Howarth
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43
Produced with Yudu - www.yudu.com