Buying Property In Cyprus, Big Problems

Redetype

Has anyone bought in Cyprus from Agents in the UK or from so called IFAs, who are showing us that a better investment can be had in Cyprus!!! not for me BIG mistake..
Regards:mad:

not_loaded

Are you saying that you’ve attended a property presentation in the UK and been sold something with all sorts of promises?

Redetype

Actualy an IFA who I have known a few years came to see me about pensions etc, and we got onto property in Cyprus, and he said by far the best investment good returns and so on, all incorrect and promised a 25 year mortgage got 12 years, Not good and only found out two years down the road so a real mess now,

not_loaded wrote: »

Are you saying that you’ve attended a property presentation in the UK and been sold something with all sorts of promises?

not_loaded

Redetype wrote: »

...and we got onto property in Cyprus, and he said by far the best investment good returns and so on, all incorrect and promised a 25 year mortgage got 12 years...

That’s incredibly poor advice from the IFA.

Did you view it/buy it/arrange the finance through him/her? If so, I’d be looking at their professional credentials with a view to proceeding against them.

Baconandegg_2

Hi there

We have bought on an Alpha Panareti development and have hit serious problems. Do you know of any forums or place that we can go to seek advice and help?:(

TBeckett100

some "advisers" give the whole industry a rotten name. I get calls from foriegn real estate agencies and investment companies. Unless I would recommend it to my own family, it never gets mentioned to my clients.

lincroft1710

Cyprus has featured once or twice in the "Homes From Hell" programmes, and it appears there can be a lot of problems with the ownership of the land on which the property stands. The advice seems to be to doubly ensure firstly that the vendor has good title to the land and secondly that as buyer you have definitely bought the land in accordance with all national, local and inheritance laws.

RAS

Northern Cyprus is a legal minefield as much of the land and property belongs people who went into exile in 1974. This has been sold on to non-Cypriots who now find that their legal title is not worth the paper it is written on. Recent court cases have confirmed this.

sammyjammy

You do realise this thread is over three years old.......

RAS

start date was 03 06 2010?

ttoli

RAS wrote: »

Northern Cyprus is a legal minefield as much of the land and property belongs people who went into exile in 1974. This has been sold on to non-Cypriots who now find that their legal title is not worth the paper it is written on. Recent court cases have confirmed this.

Wouldn't be of Greek extraction would we?, do your homework carefully, check and double check and things can run smoothly, have bought and sold many properties here(and NO not all land pre 74 is/was Greek Cypriot).