Retiring

annie


Joined: 30/05/2007
Posts: 208

Message Posted:
30/05/2007 17:52

Hi

This is my first few of probably many questions I hope to get answers on.

We are buying a property of plan. It is due to be ready December 2008 So some time yet.

We have brought through Unwins estate agents,the developer is Kulaksiz construction and Gurkan and Gurkan solictors are acting for us in sale. So far we have no real concerns other than the not so good comments I have read about Unwins. We have not parted with any money so far other than search fee which I believe is unusual. They want us to send payments soon though direct to them. Thats a bit alian to me as you would normally send all payments through solicitors in UK. Any comments on that please. Also which is the cheepest way to transfer money from UK. Next question if you do not apply for residency whats the draw backs. If you leave every three months how long do you have to be out of TRNC and how far do you have to go? Any help with these queries would be much appreciated.

coffer


Joined: 13/02/2007
Posts: 292

Message Posted:
03/06/2007 21:08

Sorry knowone has responded as yet. Rather a lot in your post, here goes. We didn't use an Estate Agent but they are useful as they are a good barrier between you and the builder. It is common for the payments to go through the solicitor or EA. They should give you a standard contract don't accept it as read, change anything you are not happy with. Did the builder or agent suggest the solicitor, if so get another one. Email me if you want a couple to pick from who I know are going to look after YOUR interests! A cheap way to transfer money is get an HSBC bank account here and in UK, it only costs £10 per transfer. There are no real drawbacks to staying on a visitors visa, although I believe if you tried to come in on a ninety day visa say 3 or 4 times in a year the authorities would not allow it. You have to leave the country (not to the ROC) , 24 hours is fine. Hope this helps

davidoff


Joined: 21/04/2007
Posts: 438

Message Posted:
04/06/2007 01:59

Hi Annie,



Yes 1st is Gurkan & Gurkan an independant solicitors or were they recommended by your agents etc? As you should always use independant legal advice!

Also you would need to apply for a residency permit if you intend on living there most of the time!

The norm in other countries is 6 months max stay allowed- but Im not sure if the same applies in NC or not??

Do not transfer money or signed any contracts until you have had the legals sorted out and they have reported back and advised you of any possible issues?

Do not be pressurised or fooled by agents into signing or paying money as they all have stunts up their sleeves i.e - its the last one left? theres a price increase tomorrow? Ihave someone else interested? etc...etc!

Do not transfer any money until instructed to do so by the solicitor and always make sure you have an official copy/receipt for any payments you make!



Do not believe evrything your told?? Do some research your self aswell?



Happy hunting

Good luck D

coffer


Joined: 13/02/2007
Posts: 292

Message Posted:
04/06/2007 12:46

Having slept on what I wrote. Please ensure the main services and infrastructure are in your contract; water, electric and a tarmac road. Don't listen to any rubbish about Kibtec, the council or some other all powerful body will fix it. Get it in your contract and make sure the final 20/25% stage payment is tied to it. It might also be an idea to withhold a final £5k until the deeds are in your name.

annie


Joined: 30/05/2007
Posts: 208

Message Posted:
04/06/2007 15:37

Thank you both for your replies. It confirms what I have managed to find out which is good. We went with Gurkan & Gurkan as we had heard they are well respected. The agents suggested we might prefer to go with someone else as they have taken on a lot more clients recently and are a bit slow. As we are not in a real hurry and would prefer things to be right rather fast we chose to go to them. So far they seem to have our best interest in mind. They told us not to send any money until search results back which we are glad about. It is very hard to stand your ground when you have found something you really like and do not want to loose but if the solicitor tells them they either wait or loose the sale they seem to take notice. We are fortunate that we are buying stage 2 project so roads are done electricity is in hand! (Temp supply at the moment) according to residents already moved in they have no real complaints they gave us a cup of tea so they do have water.

The reason we thought it would be better not to apply for residency, is UK state pension paid to someone residing in a non EU country would have pension frozen which although a few years off is something to consider. If TRNC do become a member of EU it would not be a problem but for everything I have read saying it will happen there is something written that says it will not happen in the near future if at all. The same with direct flights. Do you have a view on those topic’s either of you.?

coffer


Joined: 13/02/2007
Posts: 292

Message Posted:
09/06/2007 22:29

Well, as far as your pension goes, it will be paid into a UK account so who will know where you are living? Secondly, I believe it is only if you took full TRNC residency (at the moment we renew every year, temporary residency) and declared yourself non resident for UK tax that you would get caught with the pension rules.

Direct flights and EU membership is down to the politicians, in my view I don't think there is a desire on either side for a settlement, so I think it will run for a number of years before a solution is in place. Same for Direct flights the ROC will always oppose Direct Flights. They are in a better position now they have EU membership and can really cause problems for the TRNC.

annie


Joined: 30/05/2007
Posts: 208

Message Posted:
13/06/2007 15:15

Thank you it really is useful being able to ask question as they come up. I spend a lot of time researching in preparation for move but it can be confusing when you are looking for small but important details.

Regards

Anne