New to all the but seeking advice

boblambert143


Joined: 30/08/2010
Posts: 4

Message Posted:
31/08/2010 07:53

Hi all,



My wife and i are looking for some advice from you all.

We are looking at buying a place in Northern Cyprus possibly to rent out but we are unsure where to begin.

Is it worth bothering in the first place?

Recommended locations?

Places to avoid?

Recommended estate agents? We have seen some of the comments about UNWINS and Select.

Recommended solicitors?

Car hire campanies?

Good restaurants in Kyrenia?



Any help or advice would be appreciated.

Thanks in advance.

Bob

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
31/08/2010 08:06

I would not buy to rent here. The maths simply does not make it a good proposition.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
31/08/2010 08:50

the maths include:

TAKING AWAY your money PLUS a lot of stress MULTIPLIED BY no help from your lawyer and then your life savings will be DIVIDED between the bank, builder and landowner.

NO KOCAN,NO MONEY!

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
31/08/2010 08:55

Bob



This question has been asked more times than I care to mention. I would suggest using the 'search' box at the top of the page, however, be warned that you might not like what you read



Paul

magolina


Joined: 06/12/2008
Posts: 461

Message Posted:
31/08/2010 11:19

cost me a fortune in unpaid rent, bills and damage and a solicitor never never rent unless you have money to waste on locals or mainlanders. stay well out of this if I was you

spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
31/08/2010 11:25

Who were you thinking to rent to ? Long term people who live here or holiday makers ?







Spider,X

kaiserphil


Joined: 14/12/2008
Posts: 1096

Message Posted:
31/08/2010 11:30

Oh goodness, this has to be yet another wind-up! How many are going on this board at this time?

proger1



Joined: 18/04/2009
Posts: 2919

Message Posted:
31/08/2010 19:01

There is always room for 1 more wind up, keeps the blood flowing

boblambert143


Joined: 30/08/2010
Posts: 4

Message Posted:
07/09/2010 22:15

I appreciate that a lot of people have been ripped off when buying in Northern Cyprus but i don't appreciate all the sarcastic comments.

As for being a wind up i have much better things to spend my time on that waste it writing wind ups on here.



I was after some constructive advise on do's and don't.

From what i have read it appears that most problems have come for those who have built their own places....do those who buy resales have the same problems?

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
07/09/2010 22:22

The constructive advice is - Don't!

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
07/09/2010 22:23

Bob...."From what i have read it appears that most problems have come for those who have built their own places"



With all due repect I don't know what you've been reading but it can't be this forum.

I would say that less than 1% of people have built their own place !



Obviously buying off plan is the riskiest option...as it would be anywhere in the world.



But the risk element in the TRNC is the TRNC itself.

You have absolutely no protection under the "law" when purchasing property as a foreigner.



Please read the multitude of threads again and make an educated and informed decision.

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
07/09/2010 22:24

bob

you can buy my place if you want to. I have my Kocan and would have no hesitation in handing it over when you pay me for the property but you have to get your PTP Permission To purchase and that could take years. That's just one of the problems.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
07/09/2010 22:32

Hi boblambert,



You may have seen the slogan "no kocan, no money". As long as you stick to this rule you will be fine. Most of the problems relate to buying off plan so I would avoid this option. Your main problem will be getting your title deeds. There is, unfortunately, no legal obligation for builders to hand them over, even though you have paid in full for your property. You will see if you research this, that lots of builders don't hand them over and there is absolutely nothing you can do.

Other problems surround getting your permission to purchase. It takes 2 years and during your waiting time you can find that if builders have run into financial difficulties and not paid their debts, memorandums are placed on the property and you become liable for the debt or the bank can auction of the property to pay the outstanding debt.

Obviously i am not saying that every builder works like this but these are the risks to consider.Its risky!

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
07/09/2010 22:32

Quarmby....it's good to see someone who puts morals and honesty before self interest .

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
07/09/2010 22:40

cronos

I believe in treating others like I would expect to be treated in return. Unfortunately I have been cheated by Brits and tc's. It leaves a very bitter taste.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
07/09/2010 22:42

Quarmby....it certainly does.

But if you let it affect your own moral compass then you become as bad as them.

fosterscan


Joined: 27/02/2010
Posts: 541

Message Posted:
07/09/2010 22:48

Hi Robert simple answer don't do it unless you want somewhere to 'own' as renting out wont earn you much.You are far better putting the money in a bank account in trnc ,australia or similar where you will get 8% or more but glad to see your doing your homework.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
07/09/2010 22:49

Any Brits wanting to sell but happy to wait a couple of years until buyer gets PTP? You can then hand over your title deeds on receipt of all monies. Both parties then get their needs met.



A good solution to an ongoing problem and certainly worth considering, if time is on your side.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
07/09/2010 22:55

Bradus.....that's only a good idea if you think your prospective buyer WILL eventually get PTP.



If you are selling Pre-74,and your buyer is a foreigner,then they won't.

Washerman


Joined: 19/09/2008
Posts: 2301

Message Posted:
07/09/2010 22:59

AND...what if the buyer's circumstances change - who loses out then?

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
07/09/2010 23:01

Can you just imagine the uproar if the UK adopted a similar system.

cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
07/09/2010 23:12

Quarmby.....what, do you mean a system that discriminated against foreigners who simply wanted to pay in full and purchase a property with title deeds in their name?



Yes...there would be uproar...and rightly so.

spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
07/09/2010 23:36

I think bob may have gone some place else ! ) as he has noot been back on..Where are you BOB ?





Spider,X

boblambert143


Joined: 30/08/2010
Posts: 4

Message Posted:
10/09/2010 22:09

Hey,



Still here,

been mad at work!!!!!!!!!!!



Thanks for the advice.

Must admit the 2 years plus to get your P2P is very off putting along with all the other issues.

I must admit we had totally discounted self build/off plan as a non starter.



and we understand the no kocan no money rule but is there an estate agent that is prepared to wait minimum 2 years for his cash....i doubt it.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
11/09/2010 01:30

Spider



Bob was probably a windup.



Being getting a few of these 'I am thinking of buying to rent,retire,holiday and am wanting to know if there are any pitfalls' .

Might it not be GC's who start them ,just wanting a repetition of the same replies.



Find it hard to believe anyone in the western hemisphere does not know the situation,Even my dog knows.



But maybe I am being cynical.



For anyone thinking of starting another thread asking advice on purchasing, please first click on the tags-lawyers, builders ,orams, apartments, property, problems,unwin estates ,petitions,title deeds,advice, estate agents etc etc etc.

Jeannie


Joined: 04/08/2009
Posts: 3283

Message Posted:
11/09/2010 01:38

girne 29 - very sound advice, and certainly not cynical.



May I also suggest for those (never ending) posters/ posts about "Can I bring a car North/South", "Can I hire a car in the North/South and take it South/North", "How much is a taxi/hire car from Larnaca/Ercan.".............. that they look at the Google search at the top of the page - please.



I appreciate that the information is nowhere near as important as purchasing property, but the principle is there, surely?