Internet Cyprus Property
William Marind
Bargains can still be found at the remote villages of Paphos and those of Limassol. It is strongly suggested that before concluding a deal, you obtain a firm estimate of the repairs / improvements required using the services of a qualified Q.S. or an architect, whereas what has been said previously about other property acquisitions holds good for this nature of property as well. In particular, you must check who your neighbours are, since in tightly knit communities, such as the local villages, they have their own way of living and attitudes towards life.
The direct approach (find out who the owner is of the plot you are interested in and ask him if he wants to sell) may prove to be the best one. Bear in mind that it is the seller who pays for the commission of the agents and not the purchaser and for this reason agents have the owner's interest at heart and not yours.
Significance Of Depositing Your Sales Contract At the District Lands' Office If you buy property but the property is not transferred in your name immediately, you are urged to deposit your contract with the District Lands' Office within two months from signing. If you do not deposit your contract and the seller changes his mind about the sale, then, your only remedy for the breach is damages, whereas if you deposit your contract you can seek (through the Courts) specific performance (i.e. the transfer of the property in your name). The depositing of the contract operates also as a charge on the property.
There have been instances where various agents or owners show a prospective buyer one plot whereas they are selling him another. Items in the description such as "near the road", "near the village" etc, are used off handedly by people eager to sell, which, in many instances, are far from being true. Also beware of "terrific opportunities".
The next step is to appoint an architect to carry out the design. There is an abundance of well qualified architects on the island and many capable technicians as well. We suggest that you appoint an architect for the purpose (not an engineer or technician). Architect fees range from 4%-6% (on the building cost) but you can agree also on a fixed fee. The prevailing fees are 3.8% on the building cost for a complete set of architectural plans and 1.6% for supervision (including the issuing of certificates).
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