Can anyone please tell me how to

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
04/03/2011 13:24

go about buying a property in TRNC in an ironclad, legally binding, property is mine kind of way?

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
04/03/2011 13:39

The simple answer to that,as one builder to another,Be very careful,Many have bought and regretted it...The Deeds situation is a minefield,my advise would be to RENT...(for 12 months and see for yourself)the build quality is diabolical and I would hate to see a fellow Builder come unstuck ...........

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
04/03/2011 13:40

How feasible would it be to buy land and do a self build?

caulkhead


Joined: 03/01/2009
Posts: 149

Message Posted:
04/03/2011 13:43

Unless you are a Turkish Cypriot there is no legal way of buying property. The only property you will be given permission to purchase is where the title is originally Greek Cypriot. You are very unlikely to be given permission to purchase a property with an undisputed title.

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
04/03/2011 13:50

So no ex pats legally own property on TRNC? I am sure there are many here who would disagree otherwise the deeds they own aren't worth the paper they are written on.There is a guy here selling a house with a pre 74 English title deed, are you saying it is not possible?

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
04/03/2011 13:52

Listen to caulkhead.......You could end up building a house on land you will "NEVER" own...or end up paying compensation to the original owner....Don't forget this is an unrecognised country(except by Turkey) anything could happen be warned....Look up the case of the ORAMS family, it will give you an idea,, All the Best

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
04/03/2011 13:54

I know of the Orams case, I am interested in pre 74 deeds, anything other than Greek.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
04/03/2011 16:25

The problem is the length of time you have to wait to get Permission to Purchase (18 months +) and obviously there are no guarantees that it will be given. Even the nice British owner of a pre-74 British Title house could do the dirty on you in that time. The only way would be to put a charge on the property equal to its value but you would need the owner's permission to do this. If they refuse then walk away.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
04/03/2011 16:28

my understanding is that pre 74 foreign owned title does not require ptp for sale to a non citizen, though I am no lawyer and no expert.

caulkhead


Joined: 03/01/2009
Posts: 149

Message Posted:
04/03/2011 17:40

Message 9 Yes, you do need permission to purchase foreign or British title and it is very unlikely to be granted.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
04/03/2011 18:07

caulkhead, I stand corrected on the requirment to gain ptp for pre 74 foreign title

caulkhead


Joined: 03/01/2009
Posts: 149

Message Posted:
04/03/2011 18:13

No problem Erolz. We are all trying to give each other the best adice we can but it is very difficult when the goal post keep moving!

jimmyG


Joined: 14/08/2008
Posts: 900

Message Posted:
04/03/2011 18:41

Roomy your best bet is to buy a resale with title deeds and with all services connected - you don't want to be on builders electric or to have to rely on water being tankered in. I'm sure that you're already aware that any negotiated settlement on the island may result in compensation being payable. Good luck.

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
04/03/2011 20:47

I am beginning to get the gist, thanks all.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
05/03/2011

Roomy. There are bargains to be had here at this time.

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
05/03/2011 00:21

I liike to think what I pay for is irretrievabely mine, the seed of doubt has been sown, rental is not out of the question to me but I am too long of the tooth and worldly wise to schemers and scumbags to (hopefully) fall prey to any scam however long the hustle and it seems to me NC plays the long game.

What happens to someone who happily buys without hitches lives in Utopia for 2 years and then gets told their ptp is declined?



As I see it and in no particular order

.

Option 1:- Bite the bullet and hope you die before they turf you out.Probable.



Option 2:- Do to others as they did to you. (I hope I wouldn't stoop so low).



Option 3:- Accept the losses and move on if possible, sometimes not an option.



Option 4:- Look for retribution, sounds good in theory but probably means the end anyway.



Option 4:- Kill yourself in despair, not an option to me.



Option 5:- Have the foresight not to be in that position thanks to good advice from posters here.



Option 6:- Rent

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
05/03/2011 00:24

Or as seems the more popular option bury your head in the sand

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
05/03/2011 00:27

In reality, thats what people do, nobody to kick their arse in the right direction, i have had to be kicked a time or two, I didn't get this great on my own.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
05/03/2011 06:25

"What happens to someone who happily buys without hitches lives in Utopia for 2 years and then gets told their ptp is declined?"



What should happen in such a case is that the vendor reutrns the buyers money and retains the property and this eventuality should all be laid out in the original sale contract.

Roomy


Joined: 20/02/2011
Posts: 836

Message Posted:
05/03/2011 12:43

Is that common practice?

Zoots


Joined: 05/02/2011
Posts: 669

Message Posted:
05/03/2011 13:05

No, it's too honest, honourable and legal a system for the TRNC. But if silly greedy foreigners had insisted on this no-brainer from the start the whole corrupt system would not have happened.

erolz


Joined: 17/11/2008
Posts: 3456

Message Posted:
05/03/2011 14:30

My understanding is it is common practice for sales contrtacts to have an clause dealing with refusal by council of ministers to grant ptp. Of course having a clause in the contract and having said clause exercised and honored are not he same thing. I could not say of those who have had ptp refused what % if any reciveed a refund from the vendor as a result of this.

Zoots


Joined: 05/02/2011
Posts: 669

Message Posted:
05/03/2011 15:10

We could hazard a guess and put it in single figures. Most likely a nice round figure.