Kyrenia, Cyprus
Top 10 Tips
Top 10 tips about North Cyprus
- Always insist on speaking with current residents or home owners in Northern Cyprus to find out what THEY think of the developer, the country and the implications of buying a property there.
- Always seek the advice of an independent solicitor. Many builders and developers suggest that you use their own solicitor as it “saves time and money”. Under NO circumstance should the same solicitor be used by buyer and seller. It doesn’t make sense in the UK and it doesn’t make sense abroad. At KyreniaVilla.com we DON’T recommend a solicitor either as our advice could itself be compromised. Instead we suggest that you talk with several home owners and seek their recommendations.
- NEVER pay a deposit until you have seen a contract and your solicitor is happy to commit; even if you are told that you may lose the holiday home of your dreams. Reputable developers would want you to take your time and if they are reputable, they will NOT expect you to rush your decision.
- ALWAYS make sure the contract covers ALL aspects of the purchase and outlines the staged payments which should only be released once each stage of the new development is complete. (Of course for pre-built properties this will not apply). Make sure that penalty clauses are inserted which compensate you for late delivery of the property. Make sure that clauses are inserted which LIMIT the amount of any extras the builder may wish to charge for and SPECIFY that “No other charges will apply”. Builders have a habit of trying to add extras to their bill which include VAT (which is unavoidable), and even the costs associated with the surfacing of roads or the creation of a transformer substation!!
- Always retain at least 10% of the price of the property for ‘snagging’; to make sure that the property has no snags once you have taken ownership. A ‘snagging’ list should be compiled and problems should be put right by the vendor before the final payment is made.
- Visit your chosen property in the winter months, before you buy. Holiday locations look different when the sun isn’t shining and whilst Northern Cyprus is beautiful all year round, it’s always best to see a property during the rain or wind to see if it lives up to your expectations.
- Make good notes and always confirm your understanding of any progress in writing; e-mail is fine. Memories are apt to be selective on the parts of many developers and promises turn into sand unless they are confirmed.
- Car hire is relatively cheap, and unless you plan to live in the region permanently, it makes good sense to hire whenever you visit. Around £15 day gets a reasonable car, and this includes all insurance. Having had an accident, I was greatly reassured by the company I dealt with. Turkish Cypriots are usually very relaxed about things and this actually becomes a blessing as they rarely make a crisis out of an incident!
- Most properties come with white goods included, and many developers offer ‘Furniture Packs’. These can be convenient and can work out as cost effective options, but the standards are rarely high. As with all things, shopping around and knowing your own mind works best.
- Make sure your property really is “complete” before you go across to make the final arrangements. Some developers e-mail to request final payment within 7 days in the full knowledge that you are unlikely to be able to arrange to visit in such a short timescale.