Properties for sale in North Cyprus


BUYERS GUIDE

FREEHOLD

When purchasing a property or doing property investment in Northern Cyprus there are certain regulations and procedures that you must adhere to, to enable you to take the title deed (known locally as a Kocan –pronounced Ko-ch-an) to be transferred into your name. These include checks carried out by the Ministry of Interior and like much of North Cyprus bureaucracy this inevitably means delays! The transfer of title may take 9 -18 to fully complete, this however will not affect you being able to take possession of your property in North Cyprus.

THE PROCEDURE FOR BUYING FREEHOLD IS AS FOLLOWS

Select the property that you want to purchase

Contract to be drawn up by a solicitor based in Northern Cyprus, to include price, timescale, payment terms and specification

Both vendor and purchaser to sign.

Purchaser pays deposit.

Solicitor applies to the Council of Ministers on your behalf for purchase permit (this is your permission to buy in North Cyprus)

Final balance payable (drawdown of mortgage facility) In most cases a 5% K.D.V. (VAT) will be levied on the property.

Once purchase permit has been received vendor transfers title into purchasers name.

Purchaser pays 6% stamp duty and 1% of the stamp duty is paid to the local Authority? Beledyie. (You may use the right and we would stress that you do, to be exempt from 3% of the duty on one purchase)

Sale complete


‘The best value in North Cyprus. Prices from £59,950 (first phase)’