Finding the perfect place
When looking for a place in Cyprus, there are hundreds of internet sites dedicated to property. Some popular examples are ‘A place in the sun ’ and ‘Rightmove ’. Note that some property sites belong to or are linked to an estate agent. This leads us to the second option. Most property owners sell through an estate agent and therefore hiring the services of one can provide a wide range of options to find a suitable property.
If you have the opportunity, visit a certain area of the island since many property owners sell privately to avoid paying an agent’s commission. However, be wary of this kind of transaction and, if you go ahead, make sure to hire an experienced local lawyer to aid you in the process and ensure you perform a safe transaction.
Inspections and surveys
Once you have found a property that you like, it is very advisable to make a close inspection of its condition. Some simple checks can be done yourself, these include; testing the electrical systems, plumbing, water mains and central heating. Don’t take someone’s word that these are functional as this is not always the case. An older property may show visible signs of damage and decay, such as cracked walls, missing roof slates and rotten woodwork. It is wise to not be overconfident even with new build properties as some of these problems are evident even in developments that are less than five years old.
A Cypriot buyer wouldn’t make an offer on an older property before at least having it checked by a builder as they will be able to tell you whether the price is too high, considering any work that needs to be done. It’s unusual to have a full survey on a property in Cyprus. A structural survey is usually necessary only if the building is old or suspected of being defective. However if you’re buying a detached property or a village house, especially one built on the side of a hill, it is always advisable to have a general survey carried out. To avoid any disputes with the vendor it is a good option to make the survey a clause of the contract.
Your lawyer can recommend a registered local surveyor who should be a member of the Cyprus Scientific and Technical Chamber (ETEK). A local surveyor will have extensive knowledge of local properties and building methods. Most surveyors also speak excellent English. You should always discuss with them exactly what will be included and most importantly, what will be excluded (you may need to pay extra to run certain checks and tests). A survey can be limited to a few items or even a single system only, such as the wiring or plumbing in an old house. After the survey has been carried out you should receive a written report on the condition of the property, including any future problems.
This article is adapted from Buying a Home in Cyprus from Survival Books.