wolfman25 Posted June 27, 2006 Report Share Posted June 27, 2006 hello all........ i ve contemplated buying an overseas property for a number of years...... my wife has decided that if we were to buy abroad cyprus is the place for her.../us. we ve identified limmassol as potentially the place . what are the lawyers like? estate agents? wondering if anybody has info/experience ....potential pitfuls etc..... any advice would be most appreciated....... kind regards Link to comment Share on other sites More sharing options...
nick c Posted June 29, 2006 Report Share Posted June 29, 2006 Hi Wolfman I am a partnership manager for Residential Landlord, we have a sister website - Fly2let. http://www.fly-2let.co.uk/cyprus/propdevelopscyprus.htm There are companies on here that deal with property in Cyprus and other countries, you could call or email them for information. If it is ok with you I could email you some contacts and let them know of your interest. The partners of Fly2let could also help you with legal advice and currency exchange, please take a look around. Regards Nick Link to comment Share on other sites More sharing options...
wolfman25 Posted June 29, 2006 Author Report Share Posted June 29, 2006 Thank you very much nick .....that would be fabulous.... Link to comment Share on other sites More sharing options...
Kim B Posted July 6, 2006 Report Share Posted July 6, 2006 Hello Mr Wolfman, Nick C asked me to respond to you as he knows I know a bit about Cyprus. During the last year, I went there over 9 times (for work) and actually ended up writing a book about Buying Property in Cyprus. Okay - I'll try to answer some of your questions: 1. Limassol. This is an interesting place to buy...It's the 2nd largest town in Cyprus and is considered more of a business centre rather than a tourist area. Prices are lower than in Paphos and you have access to everything - good food, shopping, groceries. In the past many Russians purchased in Limassol, however now you'll find an influx of more Brits..and everyone seems to speak English over the whole island, so you never have that worry about that. I've always enjoyed my stays in Limassol... 2. Estate Agents. I know of one agent and one good developer in the area. There are a couple very bad ones, so be careful. Overall the agents are working VERY hard to make sales as the property marketplace is way too competitive. For the most part, small agents get 5% com. on a sale whereas the larger agents and international companies (the ones that offer the low-cost inspection trips) get up to 15% com, so I suggest you go for the smaller agents - you'll have a better change of negotiating your price down and asking for extras. If you go straight to the developer, you may get a good deal however they're not very good at customer service... I like the small agents that have to offer a good service, help you to negotiate a good price and make sure that you're taken care of - there are a few around in Cyprus. 3. Lawyers... Similar as the UK. In Cyprus they're very busy so you'll end up waiting in their lobby for a while. You have to be VERY careful that you pick a good one, so go on referral. Also, keep in mind that some solicitors get a huge amount or work from particular developers/agents...if that is the case, who is the solicitor working for? The developer or you? I know a real good one in Larnaca that has an excellent contract - he makes sure that the developer pays you daily if they run late on the completion of the build (if it's a new build). I know lots of tips and local information, but it would take too long to write it out. I offer a free Cyprus Buying Guide, so you can subscribe to that. Go to: Cyprus Buying Guide I offer the guide for free in the hopes that you'll eventually buy the full Guide - it's 100 pages and took me ages to write. Also - I'm not involved in property so the guide has nothing to do with developers or agents. I tried my best to give a non-biased review along with highlighting all the tips I've discovered over the year...and there are quite a few. The reason that I started going to Cyprus comes down to the fact that I work for a company that helps overseas buyers/investors to save money (over using the bank) when exchanging their Sterling to Cypriot Pounds or Euros or US Dollars. Last year I started meeting developers to ask them to promote the company...and due to all my visits with developers/agents/solicitors/etc. I started to collect information on the tricks and the trade of Cyprus. I know it sounds a bit strange, but I really do like to help people as my in-laws got totally ripped off when buying overseas. If you read my website, you'll get the full story. Any way - when you go to move money, please consider the company I work for: Smart Currency Exchange and if you have any specific questions, you can find my contact details on the Cyprus Property Buying Guide site. I hope this helps. Smiles, Kim Link to comment Share on other sites More sharing options...
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