Ich habe beiläufig Bazaraki durchstöbert und ein paar Häuser gefunden, die wahnsinnig günstig sind. Sagen beide "Keine Eigentumsurkunde."
Ich habe Fragen.
Was bedeutet das wirklich? Ist es zu zwielichtig?
Kann ich den Titel bekommen, wenn ich möchte, oder ist das schon beschlossene Sache?
Bedeutet das, dass sie illegal sind?
Ist die Urkunde nicht die Quittung über den Kauf des Hauses?
Ref:
https://www.bazaraki.com/adv/5568951_3-schlafzimmer-halbhaushälfte-zum-verkauf/
https://www.bazaraki.com/adv/5568941_3-schlafzimmer-villa-for-sale/
Buying houses with no deed.
byu/awesome_pinay_noses incyprus
Von awesome_pinay_noses
18 Kommentare
https://www.simonconn.com/blog/buy-property-cyprus-no-title-deed/
Sounds risky
Just, don’t.
Basically it means something is wrong with the way the house was created (physically or legally)
So a legal title deeds cannot be issued.
Meaning it’s in a grey zone ranging from ‚illegal and might be torn down in the future‘ to ‚this is going to cost MONEY to get this shit corrected‘
I.e. house is built on land it shouldn’t be.. (screw up by builder) or was not built to spec, or spec wasn’t legal, or a developers loan is still on the land under the house.
You usually don’t own the land under this, because of some of the possible issues.
If you proceed, get a GOOD property lawyer to go over everything, to tell you how screwed it is.
This will also cost thousands btw.
No title deed means dont buy!
They either didnt adhere to the building permit hence the government agencies/municipalities didnt allow for a title deed to be issued without rectification of the issues (in which case the buyer would have to fix them) or the land was inherited and someone else has also claim to the land, or they simply are a scam straight up. Or something else entirely that the owner did that failed to give them the title deeds in their name.
Whatever it is is not your problem if you don’t buy, don’t even think of buying, don’t call to ask information, don’t do nothing unless you have money to burn.
No the deed is an actual property registration certificate! If this is not done then you did not buy anything!
Along with the contract you need to go with the seller to the land registry to actual transfer the plot to your name.
My assumption mostly based on the photos. It looks that those properties were 1 construction project (as in both cases in the photos the buildings next to them are similar)
What is probably the case is that the title deed is for a piece of land which is NOT reflected in what you are currently buying. It should be noted that in this cases a memo is set on the big piece of land and you would need to figure it out with everyone involved (including banks) and is usually complicated.
Now what does this mean for you :
1. No title deed for the building so it would be very hard to re-sell, and maybe even banks would not give you a loan for it (and thus you need to buy it cash)
2. To get a title deed, you need to see if it has all the permits and if all permits are followed
3. You don’t know if the building has all permits and whether the house is ok to be there
Overall, if you are looking for a house to stay and if the house conditions are good, at that price is a bargain! However it would take you some time (and probably money) to get a title deed, so you would be stuck with this property for a while if you went with purchasing it!
The absolute worst case scenario is you being sold a property that isn’t the „sellers“ and one day you get a knock on the door and you have to leave
Title deeds is the official ownership of the property. You technically can buy it, live in it and be fine, but you won’t be able to rent it out or resell it (very easily). You can apply for it after you buy it, but it may take many years and sometimes you won’t get it.
One thing you can do is ask the seller to start the process, to at least see the reason as to why and if it’s possible to attain it. But my advice is just look for property with the deeds, it’s a messy situation and if it’s your main home you don’t want issues
Unbelievable that anyone would even consider this
My parents have lived in their house for almost 20 years and have no deed because the developer went bust and never completed the paperwork.
It has taken them 2 decades to get something sorted, still no deed though.
God forbid they pass away without resolving the deed issues because I sure as hell don’t want to deal with this for another 2 decades.
About 50% of all properties in Cyprus have no title deed. That doesn’t mean it should be considered acceptable, but it is far more common than it should be, to the point where it has been normalised. I personally find the whole situation scandalous.
There are usually 3 or 4 reasons why a property may not have a title deed. Some are more nefarious than others. They are as follows:
a) The owner didn’t bother with the bureaucracy of it. Having asked many landlords why they don’t have a title deed, many simply answer „I never planned on selling the house, so I never bothered [with the application to the land registry]“. In other words, many owners are simply short-sighted at the time of original purchase.
b) Property owners or developers did not build the house/flat in accordance with the original building permit e.g. there is an illegally built garage, extension, or a kitchen is 2m longer than it should be. Perhaps a staircase that was supposed to be circular ended being a hexagon (true story), or the builder didn’t allow enough distance between the swimming pool and the building according to EU regulations. The list is endless and this happens all the time. If the building isn’t built to spec of the original building permit, the local municipality will not issue the „teliki ekrisi“, also known as „final approval“. Without the final approval document from the local municipality, you cannot apply to the land registry for issue of the title deed.
c) There is a competing claim against the land/property e.g. a loan or mortgage. For example, let’s say you’ve just bought a new flat from a property developer. When you apply to the land registry for issue of the title deed, you have to prove to the land registry that there is no claim against the land on which the flat is built. However, many developers are asset rich and cash poor. This means they take out loans against the land on which your flat is built. This is where you get a lawyer to do a „search“. If the „search“ shows that there is a loan against the land, then you cannot apply to the land registry for a title deed, as the land registry will take the view that whoever has issued that loan to the developer has a claim to the land. Some sellers are fully aware of this and don’t give a fuck. They take the money and run.
d) Some other Cypriot fuckery I forgot since I began writing this post.
In short, you should not buy a property without a title deed, with some exceptions e.g. you have proof of final approval and your lawyer has conducted a search that shows there are no claims against the land AND a water-tight contract.
DONT that’s stupid
Beyond the fact that these houses do not have a title deed, the price you see is a starting auction price; they will almost certainly not be sold at that price.
https://bidx1.com/en/el-cy/auction/property/100815
If you talk to any lawyer he will tell you don’t touch it
In these two estates (I know them) the land is properly bought and owned by the developer (I know this for a fact) and the ownership could be easily passed to the new owner.
The problem with these two (and many other) estates is that the houses are not built in conformity to the building codes. There are numerous changes needed, including and possibly not limited to:
1. The stairs are not compliant (railing, gradient or width or multiple of the aforementioned)
2. Pool not complaint (fixable)
3. Energy efficiency problems (no certificate, clearly incorrect certificate)
I am not aware of encroachment issues with these estates. If there are any though, then walk away.
It’s not an uncommon problem. A lot of these properties are worth buying, but you need to really investigate what needs to be done, which, frankly, can be pretty hard to do as the seller has strong motivation to conceal things and the developer has no interest in talking to you and as far as the municipality is concerned, it’s none of your business. You can work through these problems but if you can find something with deeds at a price you are willing to pay, then my advice is go for that.
If you have a lot of spare time and are adept at talking to people and have some connections useful for getting information, then you can make a pretty tide return on your investment buying SOME of these properties. The devil is in the detail!
EDIT: There are quite a lot of properties built and finalized in the years 2005-2009 in Cyprus, especially in Larnaca and free Famagusta with no title deeds due to insolvency/debt of the developers (came about in the 2008/9 crisis and exacerbated by the Eurozone crisis a few years later) combined with building code violations. Now that so many years have passed, the inspection needed to get the title deeds has stricter criteria than what was in play when the houses were designed. That has caught a lot of people out. Mostly it’s fixable, but in some cases it’s not and there is a deadlock between owners and the government over this very issue.
It is commonly advised to not deal with properties w/o title, so just for the balance I will be a bit of devil advocate here and cite an opinion of a lawyer operating in real state (it is not my opinion):
generally there are many properties w/o title deed which are sold, owned and then resold without issues. Obviously, the one has to validate legality of a property to a greater extent and have clear picture of what was the issue (sometimes it is just long waiting times for the title issuance).
Man , that’s long time ago posted . If it was something that could be fixed, you think it could survive so long time without being bought ? So many lovely „investors‘ waiting to buy anything to resell for the „fair market price “ and none of them to get that nice looking house . Just walk away
My parents bought a new build house in Agia Fila 20 years ago, where the developer told them they didn’t want to have an official deed because they would have to pay more in fees and tax and the price to buy the house would have to go up 20%.
Last year they paid the value of the house to redo the thing because of all the shortcuts the developer took to build it, including backfilling a retaining wall with the dregs of the concrete mixes they had done to build the house.
There could be issues buried underneath that house that no one will know until it’s too late (e.g. there’s a flood or an earthquake)
Needless to say, they now have the deed.
Why fall for the oldest trick in book
Most of the commenters here have no idea what they are talking about…