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considering moving to northern cyprus advice please

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bigbadbob


Joined: 04/08/2010
Posts: 368

Message Posted:
04/08/2010 15:04

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Message 1 of 36 in Discussion

Hi folks considering selling up here and moving out to North cyprus but I am concerned about a few things and I am hoping the members on here will be able to help.Firstly I would like to buy a home out there but I have read some horror stories beginning with the Oram case.In view of this am I correct in thinking that I need to buy property with pre 1974 Turkish titke deeds?Secondly i have just scrolled down recent forum topics and one came from a lawyer offering legal advice and the replies to the post were not complimetary to the Lawyers over there.So I am looking for some feedback from you Guy's.Bob.



Harold2555



Joined: 19/04/2008
Posts: 1139

Message Posted:
04/08/2010 15:13

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Message 2 of 36 in Discussion

Bob



Many will advise you to not burn all your bridges and that you should rent before you plunge completely and buy. The land tenure is important, pre 74 Turkish Cypriot land is for understandable reasons considered safest with the price reflected accordingly.



There is a question as to whether the government will give Permission to Purchase for pre 74 land at the moment, my knowledge of this is anecdotal only from the forum.

With regard to lawyers, the main thing is to remember that they are not UK Solicitors. Tou will get recommendations for good lawyers.



Finally my advice is if possible, don't buy off plan!



Harold



spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
04/08/2010 15:25

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Message 3 of 36 in Discussion

Just come over and rent first..If you can come for 3 months and get a feel of the place..saying that we just booked ourselves into The Almonds Holiday Village, you can google it..Found a place to rent and have had a fantastic time of it these past three years..Just do it once you have deal with the situations along the way.good luck and welcome to the forum.





Spider,X



nurseawful



Joined: 06/02/2009
Posts: 5934

Message Posted:
04/08/2010 15:34

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Message 4 of 36 in Discussion

There is new legislation coming out to protect buyers here in North Cyprus. the new government have announced via the BRS.



We burned our bridges 6 years ago and bought but not of plan although it was a brand new villa, no regrets you will love it. Just take into account things like Healthcare when moving and if already on meds if they are readily available over here. if you need info on this e-mail me on oliver7703@gmail.com.



Good Luck and welcome to Cyprus44



Chris



Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
04/08/2010 16:02

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Message 5 of 36 in Discussion

Bob

Well done on finding this forum and starting your research before making any move. Have a look at hbpg-trnc.net which is the Home Buyers Pressure Group website for advice re property. Even better pay them a visit next time you visit NC for free advice. Property buying in NC is a minefield and best left alone until you have lived in NC for a year, so rent before buying if you decide to move over. The law may change to give buyers some protection but experience shows the government is big on promises but not on putting them into action. There is little doubt that you wont get government permission to purchase (PTP) for a pre 74 Turkish title property which means you'll never get the deeds (kocan) in your name which is a dangerous place to be (I know I'm in that position). Remember getting PTP takes around 2 years at least so you wont know until long after you have signed a contract, paid and moved in. Prices for everyday living are increasing, so don't expect cheap living. Good luc



jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
04/08/2010 16:24

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Message 6 of 36 in Discussion

Bob - good luck and I echo the advice given - NEVER buy off plan and if after renting for a while you do decide to stay you'd be better off trying to buy a re-sale, with kocan & all mains services installed - that way you'll have minimised the risks.



Cruella


Joined: 16/05/2008
Posts: 63

Message Posted:
04/08/2010 16:29

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Message 7 of 36 in Discussion

Hi bigbadbob



My advise would be, do not burn your bridges, I would rent the UK house out, then rent one in NC for at least one year in that time you might then be able to make a judgement, My other advise would be, be carefull who you trust!



On that advise go forward and enjoy and good luck.



regards cruella



jamestalbot


Joined: 20/12/2009
Posts: 958

Message Posted:
04/08/2010 16:57

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Message 8 of 36 in Discussion

Bob welcome to the forum, I came over last August 2009 and rented for seven months, to give me time to look around and check things out first before buying.



Take the advice of some posters and don't by off plan.



I wish you good luck.



James



suzi1951


Joined: 14/02/2010
Posts: 191

Message Posted:
04/08/2010 19:08

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Message 9 of 36 in Discussion

We have just bought a resale property and are delighted with it. Did lots of research before buying and visited a few times. Got friends who have been through the process and got great advice from them. There are many pitfalls as I am well aware, but I am excoted about my move. Have just been over for a few weeks and back in UK just now to arrange shipment. A lawyer was recommended to us by friends.



suzi1951


Joined: 14/02/2010
Posts: 191

Message Posted:
04/08/2010 19:09

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Message 10 of 36 in Discussion

OOps, that is 'excited' about our move! Saw Kojan in name of vendor so know they had got it. Have the long wait for my PTP



wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
04/08/2010 19:13

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Message 11 of 36 in Discussion

bigbadbob,



Do yourself a big ,big favour. Rent for at least 2 years and in any event buy a return ticket



On the other hand buy yourself some rose tinted spectacles.



Good luck, and take care.



wynyardman



marcosthechef



Joined: 30/11/2009
Posts: 646

Message Posted:
04/08/2010 19:20

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Message 12 of 36 in Discussion

Welcome to our forum (ignore the cynics and twats !!)

That old addage of Try before you Buy, its soooo true



Its not all bad, i have heard horror stories from south Cyprus, Bulgaria, Portugal and Spain so get over here and rent first, find your way and have a few months 'on the ground' and take your time before you make any commitments,

Good Luck and hosgeldiniz



Ps The second hand car market here will blow your mind, so dont think about getting into it !!



jimmykibris


Joined: 20/07/2010
Posts: 151

Message Posted:
04/08/2010 19:24

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Message 13 of 36 in Discussion

ignore the i am alll right smug gits poo happens here big style just have deep pocetys and a huge resolve not to take it personally when the poo hits you .it will for sure.



do not come if you want law and order with human rights and equality for all residents



wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
04/08/2010 19:42

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Message 14 of 36 in Discussion

marcosthechef, msg 12.



TWATS ? Clearly you know what you are talking about!



wyn



jimmykibris


Joined: 20/07/2010
Posts: 151

Message Posted:
04/08/2010 19:43

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Message 15 of 36 in Discussion

there aint many fish in the sea here



bigbadbob


Joined: 04/08/2010
Posts: 368

Message Posted:
04/08/2010 20:12

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Message 16 of 36 in Discussion

Hi folks thanks for the replies I have to say there have been some interesting comments to say the least andthe cat is well amongst the pigeons,but keep the comments coming.Bob.



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
04/08/2010 20:13

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Message 17 of 36 in Discussion

Suzi...msg 10..."Saw Kojan in name of vendor so know they had got it."



This may inadvertently give the impression to newcomers and prospective purchasers that all they need to do is make sure that the vendor has a kocan in their name.



As you are no doubt aware,the existence of a kocan in anyone's name other than your own is no use at all and will not guarantee you any protection in the buying process.



charlotte55


Joined: 14/11/2008
Posts: 302

Message Posted:
04/08/2010 21:01

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Message 18 of 36 in Discussion

You are right to ask for advice and find out all you can, as its been said already - rent before you buy and make sure that you have some money aside for a rainy day( or a really hot one)! and don't buy off plan.

Really the TRNC can be a great place to live but I think that it does depend on you - what you expect and when all the excitement of such a new lifestyle with different friends and new places goes off a bit - in a few years maybe

things may not look so good - but I for one would advise you to give it your best shot anyway!



Charlotte



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
04/08/2010 21:20

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Message 19 of 36 in Discussion

I know it is the norm in the UK. to buy property if you are able, but this isn't the UK.

cronos in msg 17 gives good advice. Yes, buying off plan is a no no in most cases but buying a resale, with the kocan in the vendor's name is also risky too. You have to wait, as others have said, for permission to purchase & during this period, you will not have the deeds in your name & no guarantee that you will get PTP. Even if you do get it, you have no guarantee that the vendor will actually transfer kocan after you have paid him.

Would you buy in the UK. without the title deed up front? I doubt it. Ask a UK. solicitor if this would be a wise move & I know what they would say.

Been here 8 years + now, didn't buy a resale, got PTP in 6 mths but still don't legally own the property & never will. The end result of this is that I cannot sell.

If you rent & bank your capital from UK. property, then the interest earned here, even now, will easily pay the rent.

ctd.



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
04/08/2010 21:26

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Message 20 of 36 in Discussion

ctd.

scenario 2. You buy, wait for Permission to purchase to happen & finally get your kocan. Selling here can take years. You are highly unlikely to see much profit. The buying boom is over here now.

If you want to return to the UK. for whatever reason, you have to be prepared to leave your property until it is sold.

I know people with kocans in place, who cannot sell after 3 years of trying.

So final advice, rent indefinitely. This gives you total flexibility



expatlady


Joined: 11/07/2010
Posts: 52

Message Posted:
04/08/2010 21:27

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Message 21 of 36 in Discussion

Bigbadbob:



As for buying "off plan": I was in NC earlier this year, was shown around a very nice project, by the "project salesperson", (who also owned a property there). The salesperson told me about how much her property was worth now, (ca 90 K) and how much she had "earned" buying off plan. (= ca 40 K). And the properties in the estate I was showed had, indeed, the asking price of about that amount, i.e about 90 K.



However, I noticed several "for sale" on some properties, which were, I was informed, "private sales". I noted down the email-address, and when I emailed later, I got to know the owner of several properties there. This guy had bought some years back "off plan". Guess what: he was more than eager to sell any property to me for the SAME price as he had bought off plan (i.e about 50 K.)



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
04/08/2010 21:28

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Message 22 of 36 in Discussion

ctd.

scenario 2. You buy, wait for Permission to purchase to happen & finally get your kocan. Selling here can take years. You are highly unlikely to see much profit. The buying boom is over here now.

If you want to return to the UK. for whatever reason, you have to be prepared to leave your property until it is sold.

I know people with kocans in place, who cannot sell after 3 years of trying.

So final advice, rent indefinitely. This gives you total flexibility



basheer



Joined: 22/12/2008
Posts: 949

Message Posted:
04/08/2010 21:34

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Message 23 of 36 in Discussion

rent a apartment or villa and rent a car the rates for long term rent and hire is alot cheaper

property in the UK will rise 20% as read in the papers so dont sell

you dont need to buy here to have a good life good luck



Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
04/08/2010 21:36

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Message 24 of 36 in Discussion

I recently asked an estate agent to put my property on their books and they valued it at 160000. I told them in the present climate a valuation of 130000 was more realistic for a 1.5 donum plot 3-4 bedroom property. I have my kocan and utilities. Lets see what transpires, won't hold my breath!



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
04/08/2010 21:44

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Message 25 of 36 in Discussion

Basheer..."property in the UK will rise 20% as read in the papers so dont sell "



Can you give a source for this forecast as it seems unrealistically optimistic?

What timescale are we looking at for a 20% rise?

Is this a 20% rise on prices that may have already fallen 15% ?

Most forecasts I've read predict that prices may in fact fall further in the UK later this year before levelling out in 2011.



basheer



Joined: 22/12/2008
Posts: 949

Message Posted:
04/08/2010 21:50

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Message 26 of 36 in Discussion

northcoveestates.com peter is the man to help you out loads of rental properties about

also check out unwin north cyprus on the web also Muss is your man cheers



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
04/08/2010 22:37

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Message 27 of 36 in Discussion

msg 24.

To say nothing of the fact that a 1.5 donum plot is going to be difficult to sell to non TCs, given the rule about the size of plot with a house on it that Brits & other expats can buy?



anlusan


Joined: 22/07/2010
Posts: 61

Message Posted:
04/08/2010 22:39

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Message 28 of 36 in Discussion

so whats the deal with offplan? looking at the thread everyone says this is a no no



stagered payments,

cheaper and newer properties



is it an issue with the property developers?

are there good and bad ones and if so which is which?



eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
04/08/2010 22:48

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Message 29 of 36 in Discussion

Off plan property's are unlikely to be finished for a number of reasons... mainly lack of buyers



bigbadbob


Joined: 04/08/2010
Posts: 368

Message Posted:
05/08/2010 11:46

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Message 30 of 36 in Discussion

Re message 23 in the daily express on monday it did say that house prices in the uk are expected to rise by 20% over the next 4 years but you do have to remember that they have fallen by more than 15% over the last 18 months or so but are now holding steady.however with the new austerity measures being put into force here and an awfull lot of jobs to go in the public sector I personally cannot see the figureof 20% being achieved.Bob



joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
05/08/2010 14:57

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Message 31 of 36 in Discussion

Re msg 27 you can now buy up to 5 donums as long as there is only one dwelling on the plot.



pammick


Joined: 09/07/2009
Posts: 722

Message Posted:
05/08/2010 16:20

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Message 32 of 36 in Discussion

Hi bob, we sold up and came here 4yrs ago intending to buy, soon saw the error of our ways and opted for renting and we are very happy. Capital in the bank earns far more than in UK even though interest rates have dropped a lot since we first came. Listen to all the sensible advice, rent first, look around and trust no one. If you don't like it here after a year or so, you can take your money and go back to the uk. Go for the safest option.



Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
05/08/2010 18:00

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Message 33 of 36 in Discussion

Scruff

As joandelly says the law was changed about last year. Originally when we bought back at the turn of the centuary a couple could have up to a donum each.



scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
05/08/2010 18:01

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Message 34 of 36 in Discussion

Hi jo&j



I stand corrected. I also didn't realise that it was retrospective. Personally I would never have bought more than 1 donum as some have & later regretted it. There are quite enough problems with selling here, without adding any more.



JKnotintheUK



Joined: 24/07/2010
Posts: 18

Message Posted:
05/08/2010 18:08

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Message 35 of 36 in Discussion

Bob, we moved here 3 years ago and have had no real problems. Love the lifestyle and would not consider going back to the UK. OK - we have been lucky, but we have been cautious, careful and have had some good advice from friends. Suggest you do the same. There is a lot of good advice on this thread, at the end of the day go with what your comfortable with. I agree with the comments rent before you buy. Enjoy your life out here (if you decide to stay) and good luck.



girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
05/08/2010 18:56

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Message 36 of 36 in Discussion

basheer



Rather than papers like the Express, most of the stockmarket pundits , money newsletters and financials, reckon that there will be a big slump in property values. World properety prices are reckoned to be overvalued by 20% and the UK's by 30%. This slump will be no bad thing in the long run as it will bring property back to the same level of affordability for our children that we enjoyed.



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