It is a fact that purchasing and/or selling an Immovable Property entails a stressful procedure. This article briefly outlines the procedure an individual or a legal entity must follow when acquiring or disposing of an immovable property as well as the respective rights and obligations.
Purchase Of Immovable Property In Cyprus
When deciding whether to purchase an immovable property, the prospective purchaser must ensure that proper due diligence will be made over the target property, in order to avoid any future complications and surprises. Firstly, it is important to verify whether the seller holds separate title deed of the immovable property or whether the immovable property is mortgaged. In cases where the immovable property is still under construction, it needs to be verified that the appropriate building and planning permits exist.