Real Estate For Sale In Cyprus Draws International Buyers
Greek mythology claims that the goddess of love, Aphrodite, was born on the island of Cyprus. With that history, it's no wonder that property for sale in Cyprus is buyingd as promptly as possible.
As the third largest Mediterranean island, Cyprus draws more than 2. 4 million tourists annually, and many of these visitors decide to buy land there. Another segment of potential purchasers are referred from real estate agents in their own nations who are associated with Cyprus developers or realtors. Land advertisements in newspapers and magazines, on television and the Internet also draw potential buyers.
That's why buyers often are counseled to retain a qualified Cyprus real estate lawyer when they start to investigate real estate for sale in Cyprus. Having a reputable lawyer looking out for the buyer's interests can protect against unexpected obstacles or even illegal practices.
Another reason for a buyer to hire a real estate lawyer when purchasing real estate in Cyprus is to verify the legal ownership of the property. It's the buyer's responsibility to be sure that the seller has the legal right to sell the property, and the only sure way to do this without a lot of bother is to have the ownership verified by a real estate lawyer.
A contract of purchase for real estate for sale in Cyprus must include time lines for when the title will be transferred to the buyer. The contract also must specify consequences incurred by the seller if the title doesn't occur by the specified time.
Once the legal title is verified, the buyer and seller enter into what's known as a contract of buying for property for sale in Cyprus. This contract specifies time lines for transferring the land title to the buyer, and what consequences will be incurred by the seller if the title transfer doesn't take place. The contract must be registered with the DLR within 60 days of buyer and seller signing their agreement.
It's wise not a sign any document or pay any deposit on land until a property attorney has reviewed the sale. Potential buyers also should make sure that any properties under construction or newly built have the necessary building and planning permits. Otherwise there could be costly delays caused by disputes with local authorities, unless your lawyer has made provisions in the documents for such contingencies.
On the purchasers' side, it's best not to sign a contract to buy real estate for sale in Cyprus until the land and its legal ownership have been completely verified by a Cyprus real estate lawyer. Should the buyer get any sense that the real estate sale isn't legal or ethical, it's in their best interest to halt the transaction immediately. Better a disappointment than a big monetary loss or a protracted legal wrangle in a foreign country. - 23208
As the third largest Mediterranean island, Cyprus draws more than 2. 4 million tourists annually, and many of these visitors decide to buy land there. Another segment of potential purchasers are referred from real estate agents in their own nations who are associated with Cyprus developers or realtors. Land advertisements in newspapers and magazines, on television and the Internet also draw potential buyers.
That's why buyers often are counseled to retain a qualified Cyprus real estate lawyer when they start to investigate real estate for sale in Cyprus. Having a reputable lawyer looking out for the buyer's interests can protect against unexpected obstacles or even illegal practices.
Another reason for a buyer to hire a real estate lawyer when purchasing real estate in Cyprus is to verify the legal ownership of the property. It's the buyer's responsibility to be sure that the seller has the legal right to sell the property, and the only sure way to do this without a lot of bother is to have the ownership verified by a real estate lawyer.
A contract of purchase for real estate for sale in Cyprus must include time lines for when the title will be transferred to the buyer. The contract also must specify consequences incurred by the seller if the title doesn't occur by the specified time.
Once the legal title is verified, the buyer and seller enter into what's known as a contract of buying for property for sale in Cyprus. This contract specifies time lines for transferring the land title to the buyer, and what consequences will be incurred by the seller if the title transfer doesn't take place. The contract must be registered with the DLR within 60 days of buyer and seller signing their agreement.
It's wise not a sign any document or pay any deposit on land until a property attorney has reviewed the sale. Potential buyers also should make sure that any properties under construction or newly built have the necessary building and planning permits. Otherwise there could be costly delays caused by disputes with local authorities, unless your lawyer has made provisions in the documents for such contingencies.
On the purchasers' side, it's best not to sign a contract to buy real estate for sale in Cyprus until the land and its legal ownership have been completely verified by a Cyprus real estate lawyer. Should the buyer get any sense that the real estate sale isn't legal or ethical, it's in their best interest to halt the transaction immediately. Better a disappointment than a big monetary loss or a protracted legal wrangle in a foreign country. - 23208
About the Author:
There is a large amount of investment property for sale in Cyprus and it is important to take legal advice before buying or selling investment property in Cyprus because, although the legal system seems similar to the British legal system, there are substantial differences.
posted by X - Men @ 12:43 AM
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