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Okay… having mentioned all the positives,
it must be said that Cyprus isn't perfect…there are negatives too!
Cypriots can't
drive properly, they cook their meat way too long, some areas of
the island look like a construction site, and most importantly,
if you don't have local Cypriot knowledge and an understanding of
the full property purchasing process you could have problems that
may prove very costly.
Further more,
as with ALL countries, there are good and bad business people. Unfortunately
quite a few Brits have had bad experiences that could easily have
been avoided. There are definite (and easy) ways to determine if
a developer is good or bad. There are specific elements that MUST
be in the contract of sale…and there are many ways to safeguard
your purchase.
The
sad fact is that many buyers don’t know how to determine if
they’ve effectively protected their investment and thus their
money.
Some of the common
mistakes that I’ve seen buyers make in the last year are as follows:
- Buying off-plan
property that does not have a building permit and thus failing
to retain the title deeds. This is an enormous problem
as it’s almost impossible to sell a property without the deeds.
And it’s possible that the actual property will have to be demolished.
Believe me, it has happened...
- Putting a non-refundable deposit down on the
first property a buyer views later to realise that they could
have purchased a similar property for much less.
- Signing a contract of sale without ensuring that it
has the top 8 elements to protect the buyer.
- Buying a property from a developer that is known to be late
on delivery or to provide poor quality construction.
- Failing to understand the various taxes and fees involved
and underestimating the true cost of the property.
- Committing to purchase a property at a certain value in Euros
and not realising that the price of the property changes
every day in sterling value due to currency fluctuations.
In some cases a property may cost £10,000 more than you originally
budgeted for due to a fluctuation in the Euro against Sterling.
- Buyers are unaware that many solicitors work for the
developers interests and not the buyers.
- Not knowing the difference between buying straight from a developer,
through a registered (and legal) estate agent or buying from a
marketing company and what option will provide you with
the best service for the best price.
- Wrongly believing that you’ll be able to buy
a property off-plan and easily sell it either
on or before completion.
- Wrongly believing that you’ll be able to get
enough money in rental income to easily cover your annual
mortgage payments.
- Several other mistakes...
All of
the above mistakes can be avoided if you take the time to do your
homework and learn what to do and what not to do…
With the good
solid information provided in the comprehensive Cyprus guide
and other resources, you can learn how to avoid making these
costly mistakes.
My
Story....
Before I go
any further, let me introduce myself. I think that if I give you
a tiny bit of background, you'll see where I'm coming from and
realise why I'm offering this information on Cyprus.
My name is
Kim Brown and I'm a normal every-day person who works with Cyprus
buyers, investors, developers and estate agents in an effort to
bring REAL education that truly HELPS people to achieve their
desires. (I don't sell property however I work in the industry
by helping overseas property buyers save money buying and transfering
currency.
I didn't always
work in this industry… A few years back I was in IT, however
something happened in my life that affected me in a way that caused
me to take a stand try to make a difference!
My
in-laws lost well over £20,000 buying an overseas property!
£20,000
was a huge chunk of their life savings. Mum and Dad had the dream
of living a better life…they worked hard, paid their taxes
and when it finally came time for them to relax and enjoy life
their world fell apart.
Due to the
stress and anxiety my mum is no longer with us and my father-in-law
is back in the UK living in a mortgaged house while owning a property
abroad that he can't get rid of.
It's
events in our life like these that make people like me try to
ensure that others don't make the same mistakes that my in-laws
made.
The sad fact
is that my in-laws made mistakes that were completely avoidable.
Provided they had a source of information that offered local information,
tips, things to avoid and ways to make the buying process easier,
safer and faster, they could have realised their dream.
(Get the
free guide here!)
So.... what about finding a good source of
information on the most efficient, cost effective, straightforward
way to purchase a property in Cyprus?
Well…I
searched the Internet, high street books, travel stores, tourist
literature and overseas property buying information. I could not
find anything that actually offered comprehensive REAL information
that covered all angles. There were some good bits and bobs, but
I couldn't find ONE resource that actually helped with information
on everything.
So…I decided
to get into the world of overseas property by starting 'The Overseas
Guides Company Limited,' and Cyprus was the first country my colleagues
and I decided to tackle.
Over the last
ten years during my numerous trips to Cyprus, I've dug deep into
the Cyprus property industry… learning what to do, what not
to do, who to trust, who not to trust, what was dodgy and what wasn't,
how things happened, when they happened, how to make them happen
easier, faster, safer…
Ultimately
I set out to help you avoid frustration and costly mistakes, thuse
enabling you to spend your time more effectively when buying a property
in Cyprus.
I've collected
information from any and everyone, and I mean everyone - developers,
agents, UK buyers, kebab shop owners, bar owners, dentists, solicitors,
accountants, waiters… I've discovered that there are ways
to ensure that you get what you want - whether it's your dream home,
a 2nd holiday property or for a pure investment property.
Contained
within the FREE Cyprus Buying Guide guide (and within the Cyprus
Buying Guide), you'll have access to information that will allow
you to make informed decisions.
Avoid making
the mistakes my in-laws and many others have made by taking the
time to do your homework. I can bring a horse to water, but I can't
make it drink! Please review the free guide - I guarantee that there
will be at least one (if not 100's) of tips, ideas or stories that
will enable you to avoid risks, save money or make the entire process
easier and more enjoyable!
(Get the free guide
here!)
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