New to forum -advice appreciated

AmosKito


Joined: 14/03/2010
Posts: 5

Message Posted:
02/06/2010 09:55

We are new to forum so forgive us if this question has been asked a million times before! We have accepted provisionally an offer on our property but the prospective

purchasers have to apply for permission to purchase as one of them is Turkish, We know they could buy in just her name as she is T. Cypriot BUT has anyone any idea how long a ptp might take for him or is it like asking how long is a piece of string. OUr own ptp took years but wonder if his might be quicker as he speaks the language and knows the ropes. Obviously the price we negotiated might not be correct if his ptp takes a long time. Whats the general consensu of opinion please

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
02/06/2010 11:37

The usual procedure is they pay you the money, move in, and then apply for their PTP. The PTP is their problem. If they say they won't pay up until they get the PTP tell them to walk, OR get a non refundable deposit from them - say 50%.

Geoff

AmosKito


Joined: 14/03/2010
Posts: 5

Message Posted:
02/06/2010 14:54

thank you for your reply - much appreciated - thinking about logically it - thats just what we did - the ptp shouldnt delay it !

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
02/06/2010 20:53

For TC's I believe it takes a matter of 4-6 weeks. Whilst most foreigners will do as Geoff describes, buy then wait for PTP, you will find that the locals will stick to the rules. Amazingly their advocates will advise them to do so too! The other amazing revelation is that title deeds will be transferred on the day they pay in full for the property.

i don't think this should hold you up for too long. Weeks rather than months.



Good Luck and if only it was as easy for Brits buying there.

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
02/06/2010 22:17

Bradus,

Are you saying that locals need to apply for PTP?

Surely not!