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).