# retirement



## hildashouse (Aug 7, 2012)

we retire in a few years and are looking to relocate to warmer climes and would like to know the pit falls, if any, also when buying a property do you own all of it or like spain does the land it is built on belong to someone else, any help and info would be appreciated


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## Veronica (Apr 5, 2008)

hildashouse said:


> we retire in a few years and are looking to relocate to warmer climes and would like to know the pit falls, if any, also when buying a property do you own all of it or like spain does the land it is built on belong to someone else, any help and info would be appreciated


If the property has title deeds then you own all of it. If you buy on a complex title deeds will not be issued until the whole of the complex is completed. Once complete the developer can apply for a final certificate and then the process of issuing title deeds begins.


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## PeteandSylv (Sep 24, 2008)

I would urge you to search this and other forums for further current advice in the area of Title Deeds which can be a minefield.

The whole area of Title Deeds is a tale of scandalous negligence and stupidity by the Government who are owed millions in taxes and support their civil service in being overmanned, incompetent and idle. The issue of Title Deeds is measured in years rather than months.

The level of dishonesty by developers is beyond belief, the laws have become ambiguous due to questionable judgements and negligent, incompetent lawyers are rampant.

We know more people who are struggling to get their Title Deeds after many years of application than who have received them. We have friends who have just fired their second lawyer, we have disposed of one.

Hopefully a new President next year and pressure from the EU will come to bear and start to ease this situation.

Having said all that please understand I do not intend to to put you off of Cyprus but, as I have recommended many times on this forum, I urge you to come and rent to gain first hand knowledge and give yourself the ability to proceed carefully if you then buy a property.

Forewarned is forearmed.

Pete


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## hildashouse (Aug 7, 2012)

*thanks*



PeteandSylv said:


> I would urge you to search this and other forums for further current advice in the area of Title Deeds which can be a minefield.
> 
> The whole area of Title Deeds is a tale of scandalous negligence and stupidity by the Government who are owed millions in taxes and support their civil service in being overmanned, incompetent and idle. The issue of Title Deeds is measured in years rather than months.
> 
> ...


 thanks for the info it does seem to be abit of a nightmare we have looked at some property and the only one with outright title deeds was a static caravan


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## Guest (Aug 8, 2012)

With the current market in mind I cant understand the urge to buy a new house when there is thousands of very good houses with Title Deeds all ready on the market for extreamly good prices. And I am sure the real estate prices will be low as long as there is 100 times or more properties for sale then there is buyers.


Buy Resale -With Title Deeds

Anders


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## PeteandSylv (Sep 24, 2008)

Vegaanders said:


> With the current market in mind I cant understand the urge to buy a new house when there is thousands of very good houses with Title Deeds all ready on the market for extreamly good prices. And I am sure the real estate prices will be low as long as there is 100 times or more properties for sale then there is buyers.
> 
> 
> Buy Resale -With Title Deeds
> ...


Quite so. 

But I still suggest renting first because rental prices are depressed too. While renting purchasing can be investigated without any time pressure and the ability to thoroughly check out Title Deeds, etc and expose any questionable truths that are stated.

I can't emphasise enough that in the desperation to sell there are illegal re-mortgages of land and other deceptions occurring by vendors and solicitors whose duty of care is only to their bank balances.

Pete


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## Guest (Aug 8, 2012)

Ofc I fully agree to rent first. Not only to have time to find the right property, but perhaps even more to see if the Cyprus way of life is something that you can handle. I think all agree that its not the same to live in UK as it is in Cyprus and that it is nothing you learn having a vacation in Cyprus now and then

Anders


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## Veronica (Apr 5, 2008)

hildashouse said:


> thanks for the info it does seem to be abit of a nightmare we have looked at some property and the only one with outright title deeds was a static caravan


I have no idea where you have looked but I can assure you there are plenty of properties out there with title deeds and more being issued all the time.
The title deed situation has been a nightmare but there are new rules and regulations in place which are speeding up the delivery of deeds. The government needs to get the income so are making it easier. 
In the past, we as agents, really struggled to find any properties with title deeds to put on our books but we are now adding more and more such properties all the time. One of the problems in the past was that often on complexes one or more owners would erect soemthing which they were not allowed to and this meant that the whole of the development was unable to get thier deeds. The goverment is now getting a lot more forceful making these people take down illegal structures so the final certificates for the development can be issued. That has resulted in a lot of people who have been waiting for many years for their getting them at last.
The government is desperate for money so they are putting new rules in place
to speed up the issuing of deeds.
I do however recommend that people buy properties which have deeds wherever possible or at the very least an AX number which means that the final certificate has been issued and there are no problems which will stop deeds being issued, usually within 12 months once there is an AX number.

Veronica


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## PeteandSylv (Sep 24, 2008)

We have an AX number and on checking with the Land Registry were told that there is an objection which will prevent the title deeds being issued. The application was made 7 years ago.

We have had to engage another lawyer to investigate this as our original did nothing for a year other than to say the deeds are imminent.

Having an AX number is no guarantee that the deeds will be issued.

Pete


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## Veronica (Apr 5, 2008)

PeteandSylv said:


> We have an AX number and on checking with the Land Registry were told that there is an objection which will prevent the title deeds being issued. The application was made 7 years ago.
> 
> We have had to engage another lawyer to investigate this as our original did nothing for a year other than to say the deeds are imminent.
> 
> ...


If you had a decent lawyer any objections which might stop title deeds being issued should have come to light and your lawyer should have recommended you not to buy that property. I hope the lawyer you have now is good one.

On more than one occassion the lawyer we use has stopped clients from buying a property because they have found a problem with it. We would much rather it was this way than have a client buying something with problems.


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## PeteandSylv (Sep 24, 2008)

Veronica said:


> If you had a decent lawyer any objections which might stop title deeds being issued should have come to light and your lawyer should have recommended you not to buy that property. I hope the lawyer you have now is good one.
> 
> On more than one occassion the lawyer we use has stopped clients from buying a property because they have found a problem with it. We would much rather it was this way than have a client buying something with problems.


Unfortunately the objection was from an internal government department and only made in the last couple of months so, as lacking as our original lawyer was, she could not have detected that problem when we purchased.

I too hope our current lawyer is a good one and I'm glad that you act with integrity toward your clients.

Nevertheless having an AX number is no guarantee the deeds will be issued.

Pete


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## Veronica (Apr 5, 2008)

Vegaanders said:


> With the current market in mind I cant understand the urge to buy a new house when there is thousands of very good houses with Title Deeds all ready on the market for extreamly good prices. And I am sure the real estate prices will be low as long as there is 100 times or more properties for sale then there is buyers.
> 
> 
> Buy Resale -With Title Deeds
> ...


Anders we always try to recommend buying with title deeds if possible but some people want new and sometimes if they need a mortgage they can only get one by buying from a developer so that usually means a new property. Having said that, the vast majority of our sales are resale properties with title deeds.


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## Pam n Dave (Jun 11, 2007)

As has been mentioned there are many sellers here, if you do buy and things don't work out then you will join their ranks. I know several people who wish to return to the UK who can't because they can't sell their property here.

We own an apartment here but there is no way that I would consider buying anything more substantial, it's too much of a minefield.

The whole property scene here needs to be sorted out from the government downwards and I don't think that it will happen in my lifetime. Until it is sorted people will continue loose large amount of money.

Everyone is very pleasant and accommodating until they have your cash, then all too often it turns sour.


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