Reliable and expert advice should, as a rule, be sought, to avoid exploitation on the one hand and legal complications on the other. There is a tendency to overcharge foreigners whenever possible and Cyprus is no exception to this rule. Reliable estate agents, valuers and surveyors should be used in order to ascertain what the proper price to be paid is. Commissions are, as a rule, payable to the estate agents by the sellers, but in order to obtain satisfactory results the purchaser may be required to pay a fee for having employed an estate agent.

1. Before entering into a contract carry out a search at the District Lands office to check whether there is already a title deed in the name of the seller in respect of the property to be purchased or, if not, whether the issue of such a title deed is legally feasible, as well as, in either case, whether the property is encumbered in any way or not.

2. If the property to be purchased is a piece of land, check:

• Whether it has road access (without it, building is not possible);
• If the land is included in any zone or area where building is restricted and, if so, to what extent it is restricted;
• Whether it is subject to any street widening scheme;
• Whether the supply of water and electricity is possible and at what expense.

3. If the property to be purchased is a house or a flat, check whether there is a building permit and, if completed, whether a certificate or approval for the building has been obtained from the appropriate authority.

4. When entering into a contract, check that there are ample and proper provisions ensuring:

• The eventual transfer of the property and the issue of a title deed free from any encumbrances;
• That the contract is subject to obtaining the relevant permissions from the authorities (this is presumed in law but it is advisable to refer specifically to it, inserting provisions for the return of money paid if permission is not obtained);
• That possession is delivered to the purchaser upon execution of the contract if the building is completed and, if not completed, upon completion;
• That, in the case of a flat, there are general conditions attached to the contract, applicable to and binding on all other purchasers and users of flats or shops in the building, regulating their respective rights and obligations.

5. Ensure that the contract is signed by the seller in the presence of two witnesses, themselves competent to contract, who have signed as attesting witnesses.

6. If the seller is a company, ensure that all corporate actions have been properly taken for the valid execution of the contract.

7. As soon as practicable after the execution of the contract ensure that:

• A copy of the contract is deposited with the District Lands Office within two months of its execution, thus ensuring that the contract becomes a charge on the property and that it may be specifically performed;
• An application is submitted to the local District Administration Office along with all necessary supporting documents for obtaining the permission of the Council of Ministers (if necessary).

8. Ensure the earliest possible transfer of the title deed through the District Lands Office, and if a separate title deed has not yet been issued ensure with the seller that this is done as quickly as possible. In the case of any breach in the contract ensure that a legal action is brought within six months from the date of the breach, after written notice.

All the above matters should, of course, be looked after by the lawyer of the purchaser, but their enumeration and their following up by the purchaser himself is advisable and useful.

Long Beach Property Developers
3 Gr. Afxentiou Ave., Avensia Court 3, Shop 1
P.O. Box 40626, Larnaca 6306, Cyprus

Telephone: +357 24 82 40 24
Mobile: +357 99 47 78 79 or +357 99 44 55 30
Facsimile: +357 24 82 40 25
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