New Legislative Law

Barrovian1



Joined: 16/11/2007
Posts: 95


Message Posted:
30/01/2008 13:22

Just received an e-mail from my solicitor, regarding the new legislative changes on properties, that have to be registered with the land register within 3 months.

My solicitor wants to charge GBP 350 + YTL 44.50 land register fee.



Doe's anybody know how you go about doing this thing yourself, where to go etc.



Bob.

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
30/01/2008 14:21

I think this is outrageous.



I don't know how to do it yourself, but would be very interested to know.



Solicitors should not be able to get away with this scale of fee.



They know they have people by the Balls and are exploiting it tothe max.



Mc

davidoff


Joined: 21/04/2007
Posts: 398


Message Posted:
30/01/2008 14:37

Hi Borro,



I started a thread on this a week ago called new preoperty registartion law in NC -look it up as theres been lots of contribution and information on there from various people!!



Although I still think we are all confused and not quite sure what do do or not to do??



Take care-D

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
30/01/2008 14:55

Davina,



As far as i can see, there is no answer on your thread to Barrovain1's question.



If solicitors are going to charge £350 for this, then people need to know how easy it is to do it for themselves.



They are being ripped off, because they know that most people are not in the country, therefore someone else has to do it for them, hence £350....thanks very much



MC

Pipie


Joined: 05/01/2008
Posts: 1261


Message Posted:
30/01/2008 15:02

We have had a very kind offer from our complex manager to do it for free , so one must be able to do it one self , we do have until the end of March i believe

stevie-d



Joined: 13/07/2007
Posts: 472


Message Posted:
30/01/2008 15:05

Look in the hbpg-trnc.net ( Home Buyers Pressure Group ) under Goverment directive/ stamp duty.

stevie-d

Bradus


Joined: 25/02/2007
Posts: 896


Message Posted:
30/01/2008 19:37

Please forgive me if what i am writing is not wholly accurate. It is my interpretation having read info from other forums and my advocates letters. But the more I read the more confused I become!!

By all accounts it is easy to do. You need to take your contract to the land registry office, pay an administration fee of 45 ytl for stamping the contract and it is then done. The fees only occur if you use your advocate to draw up power of attorney and expect them to take the contract for stamping at the land registry office.

Some advocates did not ask their clients to pay the 0.5% stamp duty within one month of signing their contracts. Unfortunately if it is not done then the price is doubled to 1% after 6 months and 1.5% if left a further 6 months.

There is much confusion with regards to the payment of stamp duty and I believe the HBPG are suggesting that people do not pay it yet as they are suggesting an amnesty allowing purchasers to be responsible only for the 0.5% and the builder/estate agent being responsible foranything above this amount. Has anyone by chance emailed the TRNC property information office? This will be my next response as soon as I've seen my advocate next week.

Tatlisu4me


Joined: 26/01/2008
Posts: 256


Message Posted:
30/01/2008 19:54

Hi Bradus



I asked my advocate last year( Nov 07 ) if there was anything I could do to prevent my builder from taking out a loan/mortgage on the villa/land I was buying, the reply was no.

I got a mail from the advocate 2nd week of Jan telling me of this new law and could I please send out 1.5% of valuation + £200.00 advocates fee + £20.00 land registary fee. I agree I might have been able to do this myself but not in the TRNC untill the summer.

A lot of money but hopefully piece of mind !

Bradus


Joined: 25/02/2007
Posts: 896


Message Posted:
30/01/2008 20:14

Hi Tatlisu4me,



We paid our 0.5% within 21 days of signing the contract on the advice of our advocate. So we just need to pay the registration stamp now. Stamping the contract was something that you could do and was a legal requirement if you ran into trouble and needed to go through the courts but it was not routinely or legally required so many solicitors didn't do it. I do think though that all those solicitors who did not inform their clients of the increased stamp duty costs should pick up the late payment charges as the fault is theirs. I wonder if some people run into trouble or don't get such good advice because they seem to deal with the estate agent far more than the solicitor? Why do people send hugh amounts of money to the estate agent rather than their advocate? Surely all stage payments would be better sent to your legal representative? This law is however a step in the right direction and does afford more new buyers protection that did not exist before. Are you in the process of having property built?

Tatlisu4me


Joined: 26/01/2008
Posts: 256


Message Posted:
30/01/2008 21:38

Hi Bradus



Yes at Mayfair Park Tatlisu, I did a lot of homework on the TRNC and knew about the Land registary fee and KDV etc, but when I asked the advocate in Jan 07, the sliding scale i.e 0.5% - 1% - 1.5% was never mentioned only its 1.5% and thats from a very well known TRNC advocate.



P.S I dealt direct with builder and advocate

davidoff


Joined: 21/04/2007
Posts: 398


Message Posted:
30/01/2008 23:33

Hi all,



I am wondering if I can do this all myself now anyway as I just want to know its been done- For my own peace of mind?



Anyone already done this andd what do I need to do??

Can you just turn up at kyrenia court or do you need to make an appointment??



Lack of response from our overly paid lawyers is really starting to P**s me off!!!!

Barrovian1



Joined: 16/11/2007
Posts: 95


Message Posted:
31/01/2008 03:13

Hi Bradus



Thanks for the advise.

As we have payed our 0.5% stamp duty, I think that the way to go is to take the contract to the Land register, and pay the YTL 44.50 and get our contract signed.

Anybody know were the Land register office is?.



Solicitors fees of GBP 350 + YTL 44.50 + UK/TRNC bank charges - I thought that Dick Turpin was long gone.



Bob.

marik


Joined: 15/12/2007
Posts: 88


Message Posted:
31/01/2008 08:23

Dick Turpin emigrated to North Cyprus and bred like crazy

LOL





Just thought I would make you smile

Pipie


Joined: 05/01/2008
Posts: 1261


Message Posted:
31/01/2008 09:26

I understand that a complaint has gone before officials requesting more time to be given to people to get stamp duty , and also a possibility that just the 0.5% be paid , think we all need to wait a week or so to see what the outcome of all this will be.

Barrovian1



Joined: 16/11/2007
Posts: 95


Message Posted:
31/01/2008 09:37

Good idea PIPIE



Bob

rtddci


Joined: 29/12/2007
Posts: 554


Message Posted:
31/01/2008 12:27

I've spoken to my Estate Agent (by phone from the UK - free international landline calls to Cyprus through Talk Talk - not to mobiles though) who says that following representations from lawyers/estate agents; the government has agreed not to implement the 3 month rule for those contracts signed before 1/1/08. This was because of the hundreds of people all over the world who could not comply. Whether this is correct I (and it appears most people in TRNC) I know not.

Martin

Milou


Joined: 15/10/2007
Posts: 355


Message Posted:
31/01/2008 13:49

Rtddci



Thanks for informing all of us - it was my intention to wait to see what the final outcome would be and will wait a little longer as I feel things are going to change.



Regards

stevie-d



Joined: 13/07/2007
Posts: 472


Message Posted:
31/01/2008 16:18

This makes interesting reading, extract from a an e-mail from HBPG .

Please read this link on our website http://www.hbpg-trnc.net/documents/stampduty.html. After fighting for the amnesty which we should hear about by the end of this week, it transpires that the late penalty and registration fee is payable by the vendor and all buyers should ever pay, regardless of when it is paid, is 0.5% of the contract sales price. Please beware, and tell as many people as possible, that lawyers are trying to charge buyers in the region of £250 for doing this now when they should have ensured that the contract was legal when you signed. I have been asked to let buyers know this and also to tell them not to pay stamp duty until we have the government's decision on the amnesty.

stevie-d

flossie


Joined: 01/04/2007
Posts: 66


Message Posted:
31/01/2008 18:58

Hi Stevie,



What do you suggest we do if we are on the verge of applying for our electric meter? Our builder has power of attorney as we are in UK until end of March. Electric is very imminent. I wonder if Kibtec will also give a temporary amnisty?

Anyone applied for a meter in the last week or so?



flossie

lippylush


Joined: 29/12/2006
Posts: 65


Message Posted:
31/01/2008 19:28

Flossie



Does this also mean you have not had your contract stamped, which begs the question as to whether Greatstone buyers are all in the same position. I have emailed said builder and been told it's not their problem. Reliable sources say there is no amnisty being offered by Kib tec so we can't get electric until our contracts are stamped!!! Thank goodness for our back-up generator.



Regards Sue and Dave

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
31/01/2008 21:24

Some Lawyers are trying to charge £350 for this "service" which is outrageous.



All they have to do it get the contract stamped.



They know most people cannot come over and do it themselves and are seeing it as a big cash earner.



MC

davidoff


Joined: 21/04/2007
Posts: 398


Message Posted:
31/01/2008 22:57

Hi all,



SORRY still a bit dizzy on all this???



But I take it that by paying the atamp duty and getting it stamped at the land registry office then thats all you have to do????



What I mean is that paying the stamp duty and getting the contract stamped it becomes registered???



Or do you have to apply ALSO for a seperate registration at another cost also????

Basically go through two different processes- I pressume this all happens in one go i.e- contract stamped , tax paid contract registered???



I know what I mean but cant seem to find the wording right now!!

Milou


Joined: 15/10/2007
Posts: 355


Message Posted:
01/02/2008 09:05

Davina



Firstly, you need to pay the stamp duty before you can register at the Land Registry. The advice to date is for anyone who has not paid to wait to find out whether an extension of time will be granted and whether there will be an amnesty whereby the government will either wave this fee completely or only charge 0.5 percent.



Some solicitors are advising people to send the 1.5% for stamp duty but that they will wait to hear an announcement from the government and if this doesn't transpire then they will have the money ready to go ahead. They advise that if an extension of time is not given and they then pay the full stamp duty, they cannot be held responsible, if at a later date an announcement is made. Furthermore, if the full stamp duty is paid and the Government abolishes this or reduces it, then you won't be refunded by the government department.



I am trying to find out, assuming that husband and wife have purchased in joint names, whether it's necessary for both parties to be present in the TRNC if they decide they want to do this themselves? If anyone knows, please can you post.. Many thanks.



Regards

davidoff


Joined: 21/04/2007
Posts: 398


Message Posted:
01/02/2008 11:17

Hi all,



Im sure that like other places around the world that if hubbie and wife purchase that both have to be there!!



But if solicitor has power of attourney already from both of you then your covered and they can do it on behalf of both of you!!



Also I think that everyone trying to register within 3 months is unrealistic- As NC has a slow process!!!



I wish theyd change the PTP process and give us a 3 month deadline -that would be great instead of having to wait 2 years!!



Glad were getting somewhere finally- So I can start slepping again at nights now!!!!!!!



Take care-D

rtddci


Joined: 29/12/2007
Posts: 554


Message Posted:
01/02/2008 18:00

Whilst still waiting for my PTP (since Nov 05) this is another reason for sleepless nights! All I have is the original contract, a completed apartment and trust in the builder. If the correct legal position and what to do (with sufficient time to do it) was properly published then perhaps myself (and no doubt many others) could sleep more soundly (and the lawyers make less money or be able to show what they are being paid for!).

Bradus


Joined: 25/02/2007
Posts: 896


Message Posted:
01/02/2008 20:00

Whats so annoying is why did the advocates not advise people to pay the 0.5% stamp duty at the contract stage of 21 days? They are being paid to act in their clients interest and are certainly not doing this and as a result people end up paying more than they need have. I can understand the advocate not recommending to have the contract stamped as this has only just become a legal requirement upon the introduction of the new estate agent law. Prior to this it was not worth paying the registrtion fee unless you ended up going to court. Fly to TRNC tomorrow so hope to get to bottom of this and will post if I am given any sound advice that will clarify to all.

rtddci


Joined: 29/12/2007
Posts: 554


Message Posted:
01/02/2008 20:04

Have a great trip and I look forward to hearing what you have discovered when you get back.

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
01/02/2008 20:05

This is what has annoyed me a bit Bradus in that although when we took up our solicitor's services (half way through purchasing our apartment we sacked our first lawyer and then took on another) we were sent all the paperwork and information package not at any stage during or after we had signed the contracts were we asked whether we wanted to pay the 0.5% stamp duty and it was just left. I guess it was my fault for not chasing it up but I guess at the time I didnt think anything of it until after such time when I realised it was too late. Surely when we were sent our contract there should have been a sentence which said "If you would like to pay 0.5% stamp duty now then please send your money" and I would have happily done so. Now it looks as if we will have to pay an extra £500.

paul90


Joined: 07/11/2007
Posts: 248


Message Posted:
01/02/2008 20:34

Bradus - it is not entirely fair to say "the advocates not advise people to pay the 0.5% stamp duty at the contract stage of 21 days".

Our advocate, Naomi Mehmet explained the situation fully when we had our first (free of charge meeting with her). And we paid 0.5% on signing.



See her web site http://www.nmplegal.com/information_and_links.php

and inparticular the page on taxes etc:



http://www.nmplegal.com/pdf/GUIDE-TO-TAXES-FOR-PROPERTY-TRANSACTIONS.pdf

jac k


Joined: 15/10/2007
Posts: 32


Message Posted:
01/02/2008 20:45

Hi all! I got email from my solicitor (Naomi Mehmet) yesterday about the new legislation & fees for registering on our behalf (350 + land reg. fee) but need to give Pow. of Att. (requiring a trip to London UK to have this authorised). Since we paid our stamp duty back when Contract was signed I think it'll be less costly to come over to N.c. & do it myself - I need to know, however, if I can do this on behalf of hubby (co-owner) or will he need to go in person? If this is the case then maybe awarding solicitor P.O.A. will be cheaper...? Naomi Mehmet was honest & up front about all taxes & costs even b4 we instructed her so I would recommend her to anyone (if you need a lawyer). There is a paragraph in my sol's email, however which does raise some questions about multi-dwelling sites & potential for problems but hopefully from what I've read above, hopefully all will be ironed out in the review....?

If anyone does know if I can register on behalf of hubby can you let me know?



Cheers - good luck!! Jac x

Bradus


Joined: 25/02/2007
Posts: 896


Message Posted:
01/02/2008 21:30

Paul90,

Like you I am one of the lucky ones whose solicitor explained fully about the sliding scale stamp duty so we only paid the 0.5%. My point is that others on this site and it appears other forums were simply not informed and I still feel this is sheer negligence. Is it just me or do others assume that if you are paying for your conveyancing you expect your advocate to act in your best interest? That would include saving you money and time by explaining your options.

Sorry to hear you experienced this BHW. I agree entirely with your comments.



£350.00 is a bit pricey, others are doing it for £200 - £250.



Others lucky enough to be in TRNC are collecting their contracts going to land registry office and paying the admin fee of 45 YTL.

Next obstacle PTP?



Which ever route you chose I'm sure it will be worth it in the end. Have a nice weekend and I'll be thinking about you all from the Pia Bella supping my effes!

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
01/02/2008 22:10

Bradus our lawyer is Naomi Mehmet and whilst I am very pleased with how everything has gone with her I did expect her to say at some point between sending her initial information pack out via email and signing contracts which was months' later to ask us whether we did in fact want to pay 0.5% stamp duty and this was the date you need to pay it by - we did not hear anything about it. We only got the initial information regarding taxes, PTP, etc etc (which I am sure is a standard package that goes out to people) but at no point were we reminded months' later when we could actually pay it. Not a word was mentioned. We got the contract in the post with a covering letter asking us to get it witnessed by someone and sign every page and that was it. No more mentioned about anything and if we wanted to know how things were progressing we had to e-mail her and I have to give her credit she did always e-mail us back very quickly but my point is (and having worked for lawyers since I was 16 and I'm not going to tell you all how old I am now!!!!) I know its standard practice (and good practice) that lawyers should remind their clients as and when things happen (or should happen). I am not saying Naomi is a bad solicitor - far from it - we are very pleased - just a bit disappointed that we werent told exactly when we should send more money over to pay or even have been offered at the outset when we paid our initial legal fees to her to send the 0.5% stamp duty as well. If we are being charged £350 and others are being charged £200 then I dont see why we cannot take our contracts to another lawyer and get them to register it!??? Lawyers are a pain in the ar*e when it comes to fees - they will screw you for every bloody penny and it really p*sses me off. I have seen lawyers who I work for not take calls because they are busy! Well its b*llshit - and then when they do finally call them back they charge something like £25 per phone call!!!!!

Bradus


Joined: 25/02/2007
Posts: 896


Message Posted:
01/02/2008 22:31

bhw,

I too worked in a solicitors office but only for a couple of years and decades ago. Yes I agree they sure know how to bring in those ££££'s.

You seem to be enjoying a good rant these days? Made me smile to see you get a bit "uptight" with your b*llshit and p*sses........is this your real photo now? Go for it girl get rid of all that pent up aggression.

Kind Regards



Sue

p.s this reply has cost you £25.

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
01/02/2008 22:37

LOL - Bradus!!!!!! Yes do you like my real photo!!! Much improved from the last one I think!!!! My reply has cost you £30 - my hourly rate went up didnt I tell you!!! (that's another classic!!!!!!!).; You like my ranting! I promise tomorrow it will stop!!!!! LOL

davidoff


Joined: 21/04/2007
Posts: 398


Message Posted:
01/02/2008 23:52

Hi all,



Sorry to rub salt in the wound but I used G&G and they are charging £200 for the registration and I still thought that was expensive considering it cost you £20 to do it yourself!!



Take care-D

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
02/02/2008 10:17

I think if there is no rush to do it i.e. our contracts were signed before 1/1/2008 I think we will do it ourselves when we come over in May (that's as long as we dont have to do it before 31 March). Will see what solicitor advises us.

jmg171


Joined: 19/05/2007
Posts: 181


Message Posted:
02/02/2008 14:58

How can solicitors charge to get a stamp on your contract?I was under the impression it was part of the buying process which is part of the fee you paid when you employ their service.We paid our stamp duty when we signed our contract back in feb07.

jackie

rtddci


Joined: 29/12/2007
Posts: 554


Message Posted:
02/02/2008 22:45

I've just heard a rumour (third hand) that allegedly the electric company is threatening to refuse you a electric supply if you can't produce your stamped contract or alternatively cut your supply off (even if it's in your name already) if again you can't produce the stamped contract.

Has anyone heard of this?

Tatlisu4me


Joined: 26/01/2008
Posts: 256


Message Posted:
03/02/2008 09:16

The new law will prove that you are the sole owner and you will need your contract to be stamped for the electric supply to be connected.

stusimpson


Joined: 06/08/2007
Posts: 61


Message Posted:
03/02/2008 13:15

Hi ,



Has everyone heard from Naomi Mehmet regarding this new procedure,I have heard sod all as usual,and will indeed be joining bored housewife and giving them an earful tomorrow morning.They have had power of attorney for me on my thalassa property(if it ever appears) since last june.



I personally think they are great initially but drag there heels after that.If indeed they haven't contacted me for no reason I'll be letting Naomi know her duty of care is somewhat lacking.



So I'd be interested to hear who else has been kept in the dark.



Cheers stu



P.s Sorry Martin I kept meaning to call you re thalassa can you resend your no!

Colliedog


Joined: 16/03/2007
Posts: 65


Message Posted:
03/02/2008 14:05

Hi stu,



Seemed to have read on another forum, Naomi Mehmet is on holiday Jan & Feb back the end of this month. Thats why no emails.



regards



Colliedog

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
03/02/2008 14:12

Naomi is on holiday until 25 February. We had a response from one of her assistants who said they would be getting in touch with every client in due course about the procedure.



You do need to have your contract stamped if you want your electric meter changed into your name but ones already changed into your own name are not affected. This was confirmed by our developer.

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
03/02/2008 18:46

It is true Naomi is on holiday till the end of Feb. If you send her an email you will get an "out of office" message back.



I have queried how they can justify charging £350 for this service and the answer I got back was, that they will not enter into any discussion regarding their charges.



I only got contacted I'm sure because I emailed them asking the question of them. I too think they are taking everyone for a ride over this issue. Conveniently she is now on holiday the day others from her office starts to send out information on what they are going to charge customers for the pleasure.

jmg171


Joined: 19/05/2007
Posts: 181


Message Posted:
03/02/2008 19:07

If you paid your stamp duty from day 1 your contract should be stamped by the tax office.Solicitors are charging to take the contract to the land registery to register your property...well thats may thinking anyway.

We paid naomi for the services of our property purchase and land registery is part of that process.It just means now they have a little bit of work to do for their money!!

dodger



Joined: 29/07/2007
Posts: 1184


Message Posted:
03/02/2008 20:03

If anyone is still having doubts about the new laws look on the carrington nothern cyprus website and look for new property law urgent please read hope this helps,

Paul.

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
03/02/2008 20:57

I just want to copy you in on something our solicitor sent us - it was her initial client care letter and the following was stated:-



Services to be provided =

1. Drafting of contract of sale etc etc

2. Carrying out Land Registry searches etc etc

3. Where appropriate checking relevant building permissions etc etc

4. Applying to Ministry for PTP and tracking it.

5. CARRYING OUT TRANSFER OF TITLE AT THE DISTRICT LANDS OFFICE.



No surely point number 5 is exactly what they want to charge more money for???



In the next section on her client care letter is states =



2. Legal fees

The legal fees for the above legal work will be a FIXED FEE OF £ including VAT. This fees does not include drafting of other documents or any other legal work OTHER THAN THE ITEMS MENTIONED ABOVE.



How can they possibly charge you twice???



It seems to me that we were sent our original contract after signing. Our vendor has signed it on every page too and its not a photocopy. Whats to stop us from having our own Power of Attorney drawn up and send it to a friend together with our Stamp Duty and cut out the bloody money grabbing middle men??

I dont want to slag our solicitor off because they have done a really good job and we have been pleased but when I hear people want to charge another £350 for this service it really winds me up.

How can we get round this?

Everyone has to get it done by April regardless of when they signed their contract.

Pipie


Joined: 05/01/2008
Posts: 1261


Message Posted:
03/02/2008 22:40

Hi when you say we have to get i done by April , does that mean we have had a response from the home buyers pressure group as they were ofically awaiting a plea for amnesty (crikey sounds like we have all commited a crime )lol

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 08:25

Like what Dodger has said if you go into Carringtons website some information is there but only going on what they have said. I have also emailed our agents to find out what they have been told.

paul90


Joined: 07/11/2007
Posts: 248


Message Posted:
04/02/2008 08:27

Received the following from the office of Naomi Mehmet.

You can draw your own conclusions and comment appropriately.



Dear Client,



You may be aware that legislation has recently been introduced to regulate estate agents in North Cyprus. These laws took effect on the 2nd January 2008 but have been applied retrospectively to all Contracts of Sale signed before that date where the purchaser has not yet received title. We are writing to all our clients to inform you of the ramifications of this legislation.



You will appreciate that we cannot send individual emails to every one of our clients so if you have sold your property, or if the sale is not continuing for some reason, please disregard this email as no action is required by you.



The main points of the legislation, which would relate to your transaction, are as follows:



1. All Contracts of Sale, signed before 2nd January 2008, must be registered at the Land Registry within the next three months.



2. Once the Contract of sale is registered the purchaser is protected against the land being sold, or mortgaged, to a third party.



3. Once a Contract is registered, if there is a litigation dispute between the parties resulting in a successful court judgement being obtained against the vendor the Court will then have the power to make an order for specific performance forcing a vendor to transfer title to the purchaser. This was not previously possible, only compensation was awarded to purchasers in such cases. Unfortunately, the Court process means that the necessary Court action can be a lengthy procedure and the law has not made any changes to the procedures for litigation



Although the legislation is primarily intended to protect purchasers from unscrupulous Agents, many Vendors are claiming that it goes over and above what is actually necessary and the practicalities have not been properly thought out. The law also encompasses property developers, landowners and others who may be selling property. The legislation is already proving controversial and we understand that following many complaints, steps may be taken to try to modify certain parts of the legislation. Vendors are concerned that the registration of one Contract could affect the whole site which could potentially cause problems for them, especially on developments with more than one dwelling; where the first to register their Contract may have the power to prevent transactions regarding the rest of the site. They will also be forced to pay capital gains tax on the full amount of the transaction, indicated on the Contract of Sale, rather than on the Land Registry valuation, as was previously the case.



Given that your Contract of Sale was signed before 2nd January 2008, we have just over two months in which to register it. It was not until the last few days that the Land Registry were able to carry out this process and as there are many thousand such Contracts there is a high probability that they will not be physically able to process them all, in such a limited time. We have spoken with the head of the Kyrenia Bar, Av. Mustafa Guryel about this and he informed us that he has submitted a written complaint to the TRNC Ministry of the Interior as it is unfair to impose a three month deadline when it is likely to be physically impossible to register the Contracts. We are awaiting the outcome of this. The legislation does not impose any penalties against purchasers for failing to register a Contract of Sale within the three month period although failure to do so would mean that you will not be offered the increased level of protection as mentioned above. In addition, if a dispute arises between you and the Vendor, the Contract of Sale may not be given as much weight as it would have been had it been registered and this may significantly prejudice your chance of winning such a case

ilovecyprus



Joined: 08/05/2007
Posts: 1571


Message Posted:
04/02/2008 08:50

I received the same last night paul90. A starting point, may be to ask Naomi and Partners how they justify being £100/£150 more expensive than most of the other solicitors, being used by other members on this forum. What extra do we get for our money?

paul90


Joined: 07/11/2007
Posts: 248


Message Posted:
04/02/2008 09:14

I know what you mean Mark.

My own feeling at the moment is to wait a while before doing anything (I paid stamp duty at 0.5% last May).

It is clear that registration is not compulsary - and that the deadline may be extended.

I will be in Cyprus for completion at the end of April and would rather do it myself than pay £350. However I would need to get a copy of identification of the Vendor (or take him with me).

I will give it further thought in the next week or so.

ilovecyprus



Joined: 08/05/2007
Posts: 1571


Message Posted:
04/02/2008 09:27

Let us know what you decide Paul. I will hope to look at it in more detail over the next week or so.

Barrovian1



Joined: 16/11/2007
Posts: 95


Message Posted:
04/02/2008 09:47

I am going over at the end of this month, I think I will pay the Land Register fee myself, anybody know where abouts the office is?



Bob.

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
04/02/2008 11:23

Mark,



I have already asked them to justify their fees and they have refused to do so, stating that they are not prepared to enter any discussions regarding their fees.



I will be pleased to hear from the first person that goes over and does it themselves and prove what a rip off these charges really are.



MC

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 11:43

I may chance it and do it when we come over in May - the likelihood of someone coming and taking our apartment - one of 411 I think is unlikely. I am certainly not paying £350 for solicitors fees plus probably another £100 for POA and have to go into London (which isnt a problem as we arent that far away - but what a hassle). Like Naomi says the likelihood of all these contracts being registered by the cut off time is probably unlikely. I think we will risk it and do it end of May instead.

jmg171


Joined: 19/05/2007
Posts: 181


Message Posted:
04/02/2008 12:01

BHW,

I have made that point before!we have already paid for these services.

We have 2 properties and there is no way I am handing over £700.Stamp duty and land registry would have been part of the process when your permission to purchase came through.

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 12:19

jmg - what did they say when you said this? I might be inclined to say - OK if you are charging me £350 plus Land Registry fees please reimburse me for the fees I already paid you at the beginning for these services - surely they cannot charge us twice? Am I missing something or being daft here but that's what it looks like. What are you going to do them JMG - are you going to do it yourself and save all that money? I really am inclined to take the risk for a couple of months - after all we have had our apartment now for about 8 months and if something was going to happen it could have happened during that time!!!



What is everyone else doing - are you all prepared to pay more money to your lawyers?

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 12:21

p.s. And surely if you already have POA with your lawyer and that is sufficient for the purposes of having contract registered at Land Registry then why cant lawyers draw up the same POA instead of now having to post it to us and us having to go into London - that's what I dont understand - if they are accepting old ones why cant we do it that way as well?????

jmg171


Joined: 19/05/2007
Posts: 181


Message Posted:
04/02/2008 12:45

We will be over end of march and we are going to register ourselves.I would like to have a break down of the £350 costs x 2. To top it all it dosn't even cover land registry.What a F in ....liberty

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 12:51

Is anyone else going to do it themselves and if so where do we go and what do we need (or is that all listed in Naomi Mehmet's email what we need)?

Pipie


Joined: 05/01/2008
Posts: 1261


Message Posted:
04/02/2008 12:54

i will waiting to see if home buyers pressure group to see if they have managed to get an amnesty on this new law , we should all be hearing in the next week or so .

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
04/02/2008 13:23

I will wait a few weeks to see what develops, but we are due to come out in March for other reasons, so I fully intend to do this myself.



MC

Barrovian1



Joined: 16/11/2007
Posts: 95


Message Posted:
04/02/2008 13:26

I'm with you on that one mate.



Bob.

jmg171


Joined: 19/05/2007
Posts: 181


Message Posted:
04/02/2008 13:40

BHW have you seen the article on the HBPG 2nd feb .I think we should all wait and see what the out come will be

Notsoboredhw



Joined: 15/03/2007
Posts: 1138


Message Posted:
04/02/2008 14:10

No I havent seen it - how do I get into it? I tried the page listed in message 18 but it says incorrect page.

McSteviet



Joined: 11/05/2007
Posts: 789


Message Posted:
04/02/2008 14:15

BHW



Try this http://www.hbpg-trnc.net/documents/Press/CT020208_stampduty.html



MC

stevie-d



Joined: 13/07/2007
Posts: 472


Message Posted:
04/02/2008 14:19

If you go into this link http://www.hbpg-trnc.net/ And look at Goverment Directive/S