Buyers Guide
The following is our recommended guide to our clients wishing to purchase property in North Cyprus or land and property in North Cyprus:
Prior to booking your inspection trip for your North Cyprus property viewings, we would have short-listed a good selection of suitable properties in North Cyprus for you to inspect.
Day 1: If you have never been to North Cyprus before, our experienced team will drive you around to show the island on your first day.
If you know the areas in North Cyprus and you know which locations are suitable for you, we will start the property tour & market research day.
Day 2: Property viewing day.
Day 3: Revisiting the properties you have short-listed & following your final decision as to which North Cyprus property to purchase, we will help you to make an appointment with English speaking solicitor.
The solicitor will draw up the sales agreement for your new North Cyprus property ensuring maximum protection to both parties and in line with the terms, payment schedule and conditions agreed with the developer.
The solicitor will check the title of the North Cyprus property to ensure that
- The person who is selling the North Cyprus property actually owns it
- There are no charges on the North Cyprus property
- Necessary building permissions for building your North Cyprus property and licenses are in order
- The terms and conditions stipulated by the seller of your North Cyprus property are fair and reasonable.
Your initial holding deposit to secure your North Cyprus property (usually GBP 1,000) will be paid at this stage to reserve your North Cyprus property and freeze its price.
Solicitor’s fee for services rendered in the search and acquisition of your North Cyprus property is payable following your return to the UK.
The solicitor will then arrange for all the paper work relating to your North Cyprus property purchase to be sent to the title deeds office for the transfer of the title deeds of the North Cyprus property onto your name. This usually takes several months following completion of your North Cyprus property.
We advise our clients to give power of attorney to the solicitor in order to facilitate the procedure; release of title deeds from the title deeds office and registration of the title deed at the government offices.
- Please note that giving power of attorney to the solicitor avoids you having to travel to North Cyprus several times within a matter of several weeks/months whilst your North Cyprus property purchasing process continues.
- Please also note that giving a solicitor power of attorney does not give us or the solicitor any claim over your North Cyprus property, it will be your name and picture on the title deeds.
- A payment plan for your property in North Cyprus is usually drawn up at the time of the initial sales agreement as mentioned above. For off-plan properties in North Cyprus, your payments may be staggered over 6-18 months (usually 20 – 30% is paid upfront as the initial deposit) and for resale properties in North Cyprus, full payment is usually due within 3 months of the sales agreement date.
Costs of purchasing a North Cyprus property with purchase price GBP 100,000 illustrated below.
| Explanation of tax |
Amount | When will be payable |
| Stamp Duty (0.5%) |
500 |
Should be paid within 21 days from signing your contracts. |
| VAT (5%) |
5,000 |
Payable on completion of your property. |
| Land Registry Fee (3%) |
3,000 |
Within 18 - 24 months from signing of your contracts. Which means it will be paid on transfer of your title. |
| Solicitor’s Fee |
1,250 |
Payable on signing of your contracts. |
| Water & Electricity meters |
400 |
Payable on completion of your property. |
| TOTAL |
10,150 |
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