Real Estate Services
Our specialists department will ensure that you get the best deal available for the purchase of property. Because we understand the importance of owning your ideal home without risks, our property deals are tailored to suit your individual requirements.
BUYER PROTECTION
To protect the interests of the buyer, the Cyprus government has passed the so-called Specific Performance law. The law gives the buyer the 'right to own' the property once both buyer and seller have fulfilled their obligations to each other as defined in the Sale contract and the Title Deed has been issued.
When the buyer’s lawyer deposits the contract of sale with the District Lands’ Office within two months of signing it, then this creates a 'claim' against the property that the buyer is buying. This claim prevents the seller from changing his mind about selling it to the buyer or selling it again to someone else. Provided that the seller is able to transfer ownership, then within six months of being notified by the buyer he has to transfer ownership to the buyer’s name. If the seller refuses or delays the buyer can apply for a Court Order instructing the District Lands' Office to carry out the transfer of ownership immediately.
Transfer fees - VAT New Law
VAT Tax in Cyprus was increased to 19%.
For the first family house in Cyprus the VAT is only 5%. For this beneficial rate the buyers need certain approval by the VAT authorities. Our office give you this service in few days.
The law applies only for the first buyers first and give the benefit of 5% VAT on their house purchase, plus no transfer fees will be payable.
For those who do not pay VAT on their purchase, property transfer fees are to be reduced by 50%. On new properties ONLY. Resale properties have no VAT. Transfer Fees are paid in full. The cut of date of the above law is 31/12/2014.
PROPERTY: The Purchase Process
CHOICE OF PROPERTYWe recommend that the buyer chooses the property first, and gives a deposit only after a meeting with a lawyer. In regards to the procedure of choosing the correct property, We will give to future buyers a big range of properties, that will be filtered through a bigger selection based on the criteria of the buyer.
LAWYER
Getting legal advice is important for buying a property and to ensure that all parties are fairly protected. Go Solid Co Ltd can offer clients excellent financial and legal advice through our prominent legal firm S.A Thoma L.L.C
Our lawyers will listen to all your questions and worries and will give you the real picture. If there are no legal or other problems with the chosen property, the buyer may wish to appoint the lawyer to handle the transaction. A translator can also be appointed to help throught the procedure. Lawyers in Cyprus charge between €1,000 - 10,000 depending on the value of the property. This will be negotiated and agreed between the buyer and the lawyer.
RESERVATION FEE
To reserve the property you are expected to put a deposit of € 5,000-20.000, however this may vary according to the size and the value of the property and often the amount of the deposit is decided between the vendor and the buyer.
THE CONTRACT
When the chosen lawyer is ready with all the paperwork, the buyer will be expected to pay about 30% of the value of the property . This should occur between 1-4 weeks after signing the Contract.
Sample Of Our Properties
