Purchasing Process & Your New Home

Purchasing Process & Your New Home
Tue, 7 Feb 17

The purchasing process is now simpler than ever!

1.Select and Reserve your Africano Property

The first stage of purchasing an off-plan Africanos property entails payment of a reservation fee. A nominal deposit of €5,000 is required to reserve a property. Reservation fees are transferable to another property or family member upon Company discretion.

2.Legal

Africanos recommends that clients take independent legal advice from a local lawyer and are able to refer you to a number of reputable lawyers in Cyprus.

3. Cyprus Property Contract of sale

The Cypriot legal system is British based. All contracts of sale are private agreements between the vendor and purchaser and must by law, be in writing. To ensure that you understand everything, Africanos prepares all contracts of sale.

4.Filing you contract at the Land Registry

Once you have signed your contract of sale, your lawyer should file this with the land registry within 60 days. This is termed “Specific Performance’ and ensures your beneficial rights to property ownership are legally protected. Once filed, your contract of sale cannot be withdrawn by anyone other than yourself, meaning that your property cannot be leased, sold, transferred or mortgaged without your consent.

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