7 things you need to do before Purchasing a property in Cyprus

By: Nikolas Christofinis | Christofinis- Mouzouridou & Co. LLC

Purchasing a Property in Cyprus can be sometimes complicated and risky, so these are the 7 things you need to do before Purchasing a property in Cyprus.

1. Appoint a lawyer of your choice to advice you and representation throughout the whole transaction.
2. Check who is the Seller. Is the Seller a physical person or a Company?
3. Check whether there is a separate title deed of the property you are interested in Purchasing.
4. Check whether there are any mortgages, charges, memo on the said property you are interested in Purchasing.
5. You need to check and be aware of the condition of the Property you are interest in Purchasing and whether it corresponds to the relevant town planning permit and building permit issued, as well as to the submitted architectural plans. 
6. You need to request and obtain from the Seller all clearances and/or receipts of payments of all the taxes paid by the Seller, as well as the common expenses (if any), before the transfer of the Property to your name.
7. You need to know the amount of transfer fees you will need to pay at the District Land Registry to transfer the Property to your name.

For any questions related to the Pruchase a property in the Republic of Cyprus you may contact us at 0035725255059 or at info@cmcylaw.com

Note: the above article does not constitute a legal advise and may not be relied upon for such purposes. Readers are recommended to take appropriate legal advise on the above subject matter.