Northern Cyprus properties are growing in popularity. People from all over the world are looking for a little piece of heaven to call their own. If you have a North Cypriot property that you want to sell, now is a great time. It is important for you to ensure that the sale of the property is carried out in a way that is legal and as easy as possible for you and the buyer. To ensure that everything is legal and correct, you must have a real estate agent to represent your property.
Before you decide to sell a property, you should research the title deed to ensure that you have the title recognized by the TRNC (Turkish Republic of Northern Cyprus) and that you have the right to sell the property. There are several types of property deeds for Northern Cypriot properties. It is important to know the legal procedures for the type of degree you hold.
It is also a good idea for both the seller and the buyer to be represented by a local attorney who has no interest in the property. Once the real estate agent finds a buyer, and you come to an agreement, a contract should be drawn up outlining the details of the sale. Both attorneys must review the contract before either party signs. Your attorney can advise you on which taxes or fees are the seller’s responsibility and which taxes and fees are the buyer’s responsibility. If you have everything in order regarding the title deed, the sale should go smoothly.
You should also consider the time frame in which the final sale occurs. Before a North Cypriot property can change hands, the buyer must apply for a permit to purchase. The complete process of obtaining this permit could take 6-18 months, at that point; all terms of the contract must be met before the title passes to the buyer. Once both parties have finalized all terms and permission has been granted for the purchase, you or your attorney (if he has a power of attorney) must meet and sign the final papers.