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Medview Deeds - Has anyone got their Title Deeds?

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tmh30


Joined: 17/07/2008
Posts: 1

Message Posted:
17/07/2008 20:59

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Message 1 of 16 in Discussion

We have bought on the Forest Beach & Golf Residence in Esentepe and understand there is a mortgage on the land which will in turn inhibit us from obtaining our title deeds until the mortgage is lifted. Has anyone on any other Medview development experienced the same problem or has anyone received their deeds?



Hilltop



Joined: 28/04/2008
Posts: 636

Message Posted:
17/07/2008 21:33

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Message 2 of 16 in Discussion

You absolutely must be joking.........many years away yet.



brandy sour


Joined: 09/04/2008
Posts: 310

Message Posted:
18/07/2008 01:08

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Message 3 of 16 in Discussion

IF the land has been mortgaged a good chance no!



Littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
18/07/2008 07:02

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Message 4 of 16 in Discussion

I asked the same question on the boaz board,



I am led to believe NOT I BUYER HAS THEIR DEEDS FROM MEDVIEW



stevemac


Joined: 21/07/2008
Posts: 99

Message Posted:
21/07/2008 22:28

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Message 5 of 16 in Discussion

It is well known with advocates and estate agents thet Medview Homes mortgage their sites to excess. You wont be able to obtain your title deeds until the mortgage is cleared and as property here has taken a downturn like the rest of the world but probably worse here as people are getting wise to the ill advice given by the advocates, estate agents, developers.I dont belive anyone who has bought from medview has their deeds yet. This has only come to light because people are now able to regıster their contracts at land regıstry and finding out their are large mortgages on them. It ıs wise to register yourself as some advocates are not informing their clients of the mortgages still. Theres a good reason why experienced people on these boards are advising to buy resale property only with the title deeds ready to transfer over. Youll sti,ll have to wait for your permission to purchase but at least if you are getting the deeds from someone who already has them you have more chance of them being transferred to you than if it was still ln the developers hands.



Regards

Steve



studleylad


Joined: 01/08/2009
Posts: 3

Message Posted:
01/08/2009 20:49

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Message 6 of 16 in Discussion

hello, I am thinking of buying at the gold and beach resort and would like to ask you what you think of it and if the place is worth buying at?



I was an investor in the skyline project but they are having problems finishing it and have basically told us to swap to a completed property or loose all our money! - nice.



I am thinking of buying a "river 1 bed apartment and would love to hear from you if you have any advice before I go ahead,.



Regards

Wayne O'Callaghan

wayneocallaghan@yahoo.co.uk

07852 177453



Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
01/08/2009 22:18

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Message 7 of 16 in Discussion

Wayne,



If you decide to buy then you must call the shots. Demand that you will only pay if the title deeds are held by an advocate of your choosing and do not hand over any money until you have permission to purchase. Do not buy mortgaged property. Seek advice from the HBPG.



the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
01/08/2009 23:58

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Message 8 of 16 in Discussion

Hi all,



I think it is wrong to say that Medview mortgage all their sites, as I know that most are mortgage free.

My property is mortgaged at the Forest Golf & Beach Resort and we have been told that this will be cleared by October 2009. This is only 3 months away, so we shall soon know if this is true. The law needs to be changed to force builders and developers to speed up parcellisation and transfer title deeds as soon as ptp are through. I have heard that one Medview site at Edremit has received their deeds after 8 years but I cannot confirm this. Maybe someone else can.



The butlers wife



DutchCrusader



Joined: 19/05/2008
Posts: 11281

Message Posted:
02/08/2009 09:48

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Message 9 of 16 in Discussion

Msg 7 should, no, MUST be a sticky on this and EVERY other board in the world. Excellent advise.



New buyers have the chance to avoid all the errors many of us expats made in the past years, because we were naive and believed in fairy tales by locals and expats-in-the-business. Or: most of us expats were decent people who thought that paying for something meant you would be the owner - like in Western Europe.



==> New buyers: take the truth about the current TRNC from message 7. Don't believe words or promises in the current TRNC. <==



(by Bradus): "If you decide to buy then you must call the shots. Demand that you will only pay if the title deeds are held by an advocate of your choosing and do not hand over any money until you have permission to purchase. Do not buy mortgaged property. Seek advice from the HBPG."



Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
02/08/2009 16:23

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Message 10 of 16 in Discussion

Wayne



I thought Medview were quoted in the papers as offering a choice of money back plus 10% interest or swapping to a new project. Personally I would look carefully at how much money you would get back and whether you could buy something else completed with deeds for similar or less before swapping. You should at least explore the options.



Aussie



the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
02/08/2009 16:32

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Message 11 of 16 in Discussion

Hi Aussie,



If Medview give money back with or without interest, it will be a first. They have never done this before and I cannot see them doing this in the present economic climate. Of course there is always a first time and I wish Wayne every success in resolving this issue.





The butlers wife



Aussie


Joined: 17/06/2007
Posts: 657

Message Posted:
03/08/2009 00:42

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Message 12 of 16 in Discussion

The butlers Wife



Hi



I don't claim any first hand knowledge on Medview just going by the quote on page 9 of Cyprus Today Aug 1, 2009 relating to a leasehold flat project in Bogaz where they were quoted as offering refunds pus 10% interest or transfer to another project.



Maybe Wayne should cut it out and claim the same deal quoted. If not write to the papers and demand to know why.



Its at least worth a try.





Aussie



Molly


Joined: 30/08/2008
Posts: 299

Message Posted:
03/08/2009 16:34

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Message 13 of 16 in Discussion

It is quite common for large developments to be mortgaged (not necessarily loans). Of course, the mortgage must be lifted to allow transfer of title.



I am not defending Med View and have no connection. They have transferred some (separate) title deeds in Edremit as someone else mentioned.



The Vendor is responsible for the parcelation but this is a very lengthy procedure particularly for big sites. It can be done prior to construction but most developers want to start work immediately (cost implicatiions) and deal with the deeds afterwards. Sub- division cannot be applied for until the whole site is finished including infrastructure, roads, pavements etc. Also if they make changes to the original plans and building permit, it delays the process further.



The file is sent to City Planning in Lefkosa then to the District Office and then to the Lands Office.



The property sector needs a complete overhaul - many of the problems can be overcome if the desire is there.



rocking


Joined: 05/11/2008
Posts: 421

Message Posted:
03/08/2009 18:50

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Message 14 of 16 in Discussion

Do not buy - I know no one who has deeds, promises yes. This is the chap who is going to build a hotel for people of the strict Muslim code etc., Why cannot he finish one thing before starting another and surely he would know about parcelisation etc., had to do this on land we have owned but never taken years and years. He would know enough people in the tapu office and solicitors to get this done if his business is running smoothly.



mikemans


Joined: 12/04/2009
Posts: 103

Message Posted:
04/08/2009 10:52

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Message 15 of 16 in Discussion

I think Butler is right, Medview only have a mortgage on Essentepe, but I am led to believe they owe substantial money to the builder Mesan and you will need the cooperation of the builder to obtain the deeds. I believe they will deliver the title deeds to the properties they have sold. Their problem like many others is they have taken the KDV from purchasers for some 600/800 properties and that needs to be clarified, in fairness Ali Safa told me that the government owe him 1.5 million so in a bankrupt country a trade off has to be applied. Medview do build high standard properies and my own at Sunrise Beach Club is excellent, their managerment is acceptable, most employees care about clients, particularly local management. My advice to Skyline clients is buy at SBC as deeds are well under way for delivery and add the extra cost, I am sure you wil not regret it. AS has always seen SBC as his flag ship and he owns a house there that he nuses regularly, so a more than vested interest.



the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
04/08/2009 12:37

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Message 16 of 16 in Discussion

Hi Mikeman,





On Friday my lawyer informed me that the mortgage at Esentepe will be cleared in October. Mr Ali Safa has repeated this on another thread. I am confident that this will now happen and none of the Medview sites will be mortgaged after this date. It is just a pity that we have had to wait eighteen months to hear this and despite numerous requests to Medview, they felt it was unneccessary to keep the owners whose properties they had mortgaged informed and updated as to the position of this mortgage. Many owners have spent months worrying about their investments, when all it would have taken to dispel our fears, was an email every 3 months to the committee, giving us an update. Medview do build good homes there is no denying this but unfortunately their owner after care falls short. If they wish to be a leading player again, then this is where they need to concentrate their efforts.



The butler



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