Looking to buy ESENTEPE/BAHCELI AREA

PoshinDevon


Joined: 13/10/2011
Posts: 84

Message Posted:
13/10/2011 23:49

Hi



Looking to buy a property in the Esentepe/Bahceli area. Max budget £35,000. One or preferably 2 bedrooms. Apartment (Low rise). Communal pool. Email details and we will respond within 24hrs.



Thanks

PropertyPool


Joined: 25/09/2011
Posts: 252

Message Posted:
14/10/2011 01:23

You may find it at http://www.northcyprus-propertypool.com

PoshinDevon


Joined: 13/10/2011
Posts: 84

Message Posted:
14/10/2011 13:47

Had a look at N Cyprus property pool thanks. Nothing jumps out at the moment. Mind you it looks a mine field when trying to buy...PTP, pre 1974 difficult to obtain PTP, no deeds, contract should be for intent to purchase, contracts worth nothing, dont by off plan, failing builders, court injunctions etc etc. All seems to take forever and very risky. I am sure many have had a good experience buying but virtually every estate agent or builder seems to at least have some negative comments against them.



Even if we find something how long before we can move in, legally own, have deeds etc etc...it may be a case of we just do not bother and go elsewhere as we would not want to agree to purchase and then have to wait forever to use the place...seems a bit crazy. However as we love the island we will see what comes up but one thing is for sure the wallet will remain closed and no ink on the paper until fully satisfied that all is in order!!

johnybegud


Joined: 10/10/2011
Posts: 5

Message Posted:
16/10/2011 09:19

Hi Poshindevon



we have posted too on this forum looking to buy in TRNC. Unfortunately a great deal of very negative comments through the forum and elsewhere. We had lived (and worked) in Southern Cyprus for a number of years, and thought the negativity there was bad enough!

We love the place and will be visiting TRNC on 4th November to view properties and ask more questions - but like you we are not inclined to commit to anything. Hope the visit clears a few things up.

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
16/10/2011 10:06

It's really very simple PoshinDevon if you always remember........



DON'T HAND OVER ANY MONEY UNTIL YOU HAVE GOT YOUR DEEDS!



Would you buy a home in Devon or Timbuktu without Deeds?

beachsidebum


Joined: 02/03/2010
Posts: 425

Message Posted:
16/10/2011 16:40

Maybe your budget is too low for a decent place with no riske involved.

tomsteel


Joined: 22/06/2009
Posts: 482

Message Posted:
16/10/2011 18:22

Rent, do not buy - unlike foolish me.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
16/10/2011 18:36

The lower the budget the less you lose. Risks occur because of an incompetent legal system not the purchase price.



If you have any sense you will rent.

PoshinDevon


Joined: 13/10/2011
Posts: 84

Message Posted:
24/10/2011 07:16

Thanks for the replies. Not of retirement age so renting not an option. We are looking to buy, not new or off plan.



Carrying out plenty of research. It is not straightforward but getting an understanding of it all. Have lived/ worked in Cyprus and spent many holidays there so well aware of the somewhat lax/dodgy way of doing things and will make sure we research very thoroughly before parting with any money. Deeds will need researching as there are a number of different types and they take time to obtain...PTP to be approved first anyway which can take a couple of years. Do not understand the no deeds no money comment - sure if you have had a bad experience I understand the negativity but there are also many satisfied property owners.



After a month or research it is a buyers market and our budget has shown that there is plenty available - if anyone is looking to sell we would like to hear from you.



johnubegud keep in touch and let us know how things go - advice appreciated.

PoshinDevon


Joined: 13/10/2011
Posts: 84

Message Posted:
24/10/2011 07:16

Forgot to say looking for property anywhere East Kyrenia out to Bahceli area. £35K ish. 2 Bedrooms. Pool. Not worried if on coast or inland. Will ask the obvious about site maintenance costs if applicable. Would want a resale not re-assignment. Deeds in owners name not a developer or some other third party. Have contacted a lot of estate agents already so looking at the private market as well. Booked to travel out early next year. Funds available.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
24/10/2011 20:43

Hi PoshinDevon,

"PTP to be approved first"



Therein lies your first problem. PTP cannot be applied for first as it is needed for the property you are purchasing. So you will have paid in full for the property before you get PTP which as you rightly say can take 2 years. No builder will wait that long. If you are refused you will have paid in full but ownership of the property will remain with the builder.



The no deeds, no money comment relates to the fact that there is no legal obligation for the developer to hand over the deeds upon completion, even if you have paid in full. Obviously this is how many have been stung because if the builder still has the deeds, he still owns the property. This is why so many foreign buyers have ended up with memorandums, mortgages etc.



Will you throw your £35000 on Black or red?

PoshinDevon


Joined: 13/10/2011
Posts: 84

Message Posted:
24/10/2011 22:06

Bradus...well aware of the slow PTP issue and is something to look into further.



I think you may also be thinking that we intend to buy from a builder or developer...this is not really our preferred option. We would much prefer to buy from an owner who has the deeds and there are no issues with transfering...of course I could be being simplistic and it will still need very careful investigation but that is why we intend to take our time and not rush. We will be in Cyprus early 2012 hopefully to view a few properties, if we are not happy then so be it, we will return again in Sept/Oct and try again.