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Is It Safe to Buy Property in North Cyprus?
Yes. North Cyprus is safe to buy properties if you do things right. If you want to buy a property in Northern Cyprus smoothly, you should learn the procedures well. You should determine the potential risks and find out how to prevent them.
When buying property abroad, it is very normal that you have doubts and want to finalize the process without any failure. Don’t worry! You can purchase real estate in North Cyprus securely if you know how to. You will find the potential risks and how to buy property in North Cyprus securely in this article.
It is safe to buy property in North Cyprus in terms of regulations. Properties in North Cyprus are freehold. This means you have full ownership rights on your real estate. It also means that your family members can inherit your immovable in North Cyprus after your death. In other words, your property ownership rights are under state guarantee in North Cyprus.
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There can be risks such as late deed registrations in the case of buying an off-plan property. However, you can prevent such horror stories by dealing with a professional estate agency. A good real estate agent has full knowledge of the properties and developers in her/his service area and also knows their backgrounds. So, a good agent will offer you only the best developers with a good reputation. Dealing with a professional real estate agent may help you prevent such a problem.
Another common mistake when buying property abroad is paying a deposit without a sales contract. All agreements start with a conversation. However, paying a deposit after an oral agreement can be a big mistake. Before paying a deposit to reserve a property, you should ask for a written sales contract which includes the deposit amount, too. This is one of the pitfalls to avoid when buying property in North Cyprus.
A good sales contract must include all important information of the agreement between seller and buyer. Sales contracts can be used as evidence for agreements in the case of any dispute. So, putting everything agreed between the parties into the property sales contract is crucial.
You can be wondering if North Cyprus is a safe place to live? Yes. Indeed, crime rates are so low in North Cyprus that it is one of the safest destinations in the Mediterranean. If you are looking for a safe area to live with your family, North Cyprus can be the right destination for you.
When buying property abroad, security is one of the prior criteria for buyers. Buyers are looking for the safest place to buy a house when choosing among locations. Thus, lower-risk areas to buy homes, such as North Cyprus, are always in high demand among buyers. This also makes North Cyprus a safely investible place.
How To Buy Property in North Cyprus Securely?
The first step of property purchasing is always choosing a real estate agent. It is so important that it affects the rest of the process. Dealing with a reputable agent saves you time, energy, and money. On the other hand, if you deal with an unprofessional realtor, whose only purpose is to make money, you might face problems. Because they will mostly focus on making the sale rather than managing the process properly.
To buy property securely and without any problems, you should have a due diligence report. Due diligence in real estate means the overall investigation of a property and the area it is located in. Professional real estate agents provide this report. You can foresee the potential problems, thanks to a due diligence report. In this way, you can either prevent them or cancel the property purchase if necessary.
While buying a property in North Cyprus, you must appoint a lawyer. A professional property company with corporate lawyers ensures that the whole process is managed carefully and appropriately. They make the necessary checks before you purchase a property. In this way, you can ensure that you are buying a property securely.
So, if you want to buy property in North Cyprus as a good investment, Antalya Homes offers a smooth property buying process. Our team of local property experts will guide you throughout the property purchase process in North Cyprus. As we work with the Zero Failure principle, you can buy property in North Cyprus safely with Antalya Homes.
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Created: 07.05.2022, 14.00Updated: 16.08.2024, 11.29
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