# title deed applications



## MrB (Jun 2, 2010)

Hello Folks

I've just spent 5 weeks looking at resales.

I noticed that 2 resales (different areas) we looked at had title deeds for the land, which the Brit owners had built their houses on about 5 years ago. They seemed to have planning permissions, which seem to have been complied with. (as we were not making offers, I was not checking all this with a lawyer yet.) Both stated that they had not thought it necessary to apply for the house title deeds. (_"you own everything that's on the land" _etc). One stated that he wanted to avoid the annual property tax.

Presumably, the owners wanted to avoid paying the (substantial) transfer fees if the house deeds are included. This does seem very short sighted if they want to sell their house, as they have lost about 4 years in the queue for deeds, and any new owners have the risk that the building inspection for the house deeds may reveal planning problems. It certainly put me off.

Is this approach common in Cyprus?

cheers

MrB


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## Veronica (Apr 5, 2008)

MrB said:


> Hello Folks
> 
> I've just spent 5 weeks looking at resales.
> 
> ...


Unfortunately this is very common and very shortsighted.
Without FULL title deeds banks are very reluctant to give mortgages on resales so the properties can only be bought by cash buyers. This means that the owners have drastically reduced their chance of selling.
Also even if the house has planning permission it is important to make sure that there is also a final certifcate which shows that the house has been built according to the planning permission specifications. If there have been any changes made during construction it can be a long struggle to get title deeds.

Veronica


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