Examine the market with Freedom and decide which property you want to buy.
Take advice and give a power of attorney to a local lawyer in Northern Cyprus who handles all questions about the buying process and to establish a will. We do not favor any particular law firm, but we have a list of recommended lawyers for our buyers that we used before and been satisfied with their services.
Accept the price, terms of payment and receive a written confirmation of all additions and specifications. Freedom will help you throughout the process to agree on the best terms for you with the seller.
Reserve the property by paying a reservation fee of £ 2,000 (non refundable) to remove the property from the market. We will help you get a receipt for your payment.
– Your lawyer will check all the papers regarding your property and do all the inquiries on your behalf, and keep you informed of the process.
– Your lawyer will establish and verify the purchase contract to be signed by you and the seller. The lawyer will ensure that all conditions are included in the original agreement.
– You will have about 14 days to pay / transfer the deposit according to your purchase contract. We will always negotiate the most advantageous payment terms on your behalf.
– Once the contract is signed, it will be registered on the Landregistry Oce (TAPU) as proof of your legal interest in the property. At this time, a stamp duty of 0.5% of the property price is paid.
– Your lawyer will also apply to the Council of Ministers for your purchase contract to be processed. In the meantime, you will have full ownership of your property.
– On the day of completion, your lawyer will request documentation on the payments made, together with payment of Title Transfer Tax (6%, reduced to 3% at first purchase).