How to make your property enquiry trouble free and successful?
The process of buying a new Cyprus property can be easier, more enjoyable, less time-consuming and less expensive if you keep to the following simple steps. We will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess Cyprus properties for sale that match your specifications, and help you through the myriad details attending the actual purchase.
Look at each step of the buying process in more detail.
Step 1 – Define the need of your perfect home
Your first step toward buying your new home will be to analyze your needs in order to get a clear picture of exactly what you want your new home to look like and how it should function for you and your family. Together we you can discuss this with our Architect. We work with our Clients to get the best result possible.
Need to know what type of home you are looking for, weather it is a retirement home where you can relax and enjoy sunshine all year round? Maybe you recently married and have outgrown your current residence. Or, maybe you have just gotten a promotion, which requires you to move to a new city. These factors will all have a bearing on how, we can both work together.
Second, establish a time frame that you would like to stay within for buying your home. Depending on your reasons for wanting a new home and the current state of the market in the area you are looking to buy, you should be able to come up with a rough guideline, which you can finalize at a later time.
Last, you most likely have a mental picture of what you would like your house to look like and what features it should have. It’s very important to write these ideas down to avoid any ambiguity later. Make a list describing your dream home and features of the home that are an absolute must have in order to buy it. In a perfect world, your new home will be just as you have dreamt it. Bearing in mind that homes in Cyprus are built differently than in the UK, there maybe some small adjustments. These you will discuss with you Architect. And you will come up with the best solution there is.
Step 2 – Finance your home?
Shopping for a mortgage for Cyprus property used to be a time consuming, full time job. Now you need not look any further than with us
The loan amount usually ranges from 60%-80% of the value of the property with a repayment period up to 25 years. Easy terms of payments and long-term in-house finance schemes are also available.
Step 3 – Area information
An important consideration is the area in which you want to live. People don’t only buy the house; they buy the area the house is in too.
So, you will need to be clear of what type of area you want to live in. You will most likely want to consider things like what amenities are offered (shops, restaurants, tennis courts, parks, etc.), whether the Cyprus property is by the beach or maybe in a quiet suburb or village and, if you have children who are attending school or soon will be, what school district you will be in and how close the schools are.
From this you will see what you want your home and neighbourhood can be incorporated in.
Step 4 – Check for listing’s here
Contact us through email or telephone us and we will be glad to answer all your questions.
Step 5 – Make an appointment
Meet our staff and discuss in detail and get any further assistance you need. If you are not familiar with the areas, no need to worry. Our executives will give you a tour of different locations highlighting each one’s pros and cons so that you can familiarise yourself with the area. You can personally see several properties that from our past projects and see if they match your requirements and you will have the opportunity to discuss with you additional information on a house you like.
Step 6 – Negotiate The Deal
Now that you have found the home you would like and taking the whole picture into account, the area, quality, conveniences, and amenities we can close the Deal. Keep in mind that almost everything is negotiable when you are purchasing your home. This can give you a great deal of leverage in the buying process — that is, if you have adequate information and you use it in an appropriate manner.
Some of the things that you may have to negotiate are:
- The price
- Terms of Payment
- Repairs that need to be done
- Appliances and fixtures
- Occupancy time frame
The key to successful negotiating is keeping in mind that the end result must make both, (the buyer and the seller) happy. Otherwise, negative feelings will persist throughout the remainder of the process and someone may walk away feeling that they were not treated fairly.
Step 7 – Pre-close preparation
Once the negotiation process is over and a price has been agreed, you will need to pay the reservation fee which is about 5% of the sale price. The reservation fee will enable Us to take the property off the market. It shows to the owner that you are committed and this way you avoid gazumping. You will also need to contact your solicitor to make sure that all the necessary documents are being prepared, and that they are complete and accurate. We can recommend Solicitors too if needed, professionals which you yourself can communicate direct with.
Step 8 – Closing
The contract is then drawn up by your solicitor, and though the items below are not an exhaustive list, it should include the following 7 points in order for it to be a valid contract of sale:
- Reference to the vendor
- Reference to the purchaser
- The subject matter has to be described as accurately as possible. If it does not exist at the stage of signing the contract, for example if it’s a Cyprus property to be built in the future, reference to subject specifications must be determined accurately
- Design Drawing
- The purchase price
- The terms of payment
- The delivery date and
- The transfer date for the title deeds
Remember that the legalities of this phase are very important. If you have any questions or concerns, they need to be addressed right away.
Step 9 – After Sales activity
Now that you have bought a Cyprus property you will need to have your local services such as electricity, water, and telephone set up. The owner or your solicitor can help you coordinate the set-up of these local services. Also, you should already be aware of the expenses that are typically associated with owning a home. Management committee fees, landscaping costs, and annual communal expenses should be budgeted for throughout the year.
Step 10 – Moving in
When it is time to take delivery of your new home you will most likely need to shop for furniture, appliance and other relevant goods.
We can put you in touch with several quality companies that can provide you with everything you need at great discounts.
Ask our executives for more information.