The North Cyprus real estate market is one of the most active markets right now. People have begun to discover this little piece of paradise nestled in the clear waters of the Mediterranean and want their share. Whether you are looking to buy or trying to sell in the North Cyprus Real Estate market, it is important to be sure that the transaction is done legally. Knowledge about the North Cyprus Real Estate laws is essential when purchasing or selling real estate. In this market, it is important to use a real estate agent as well as a reputable, local solicitor.
If you wish to sell property in the North Cyprus real estate market, you should investigate the title deed to be sure that you hold a title that is recognized by the TRNC (Turkish Republic of Northern Cyprus). There are several types of deeds that can be connected to the property. A local solicitor can help you do a title search and ensure that the deed is recognized and that you have the legal right to sell the property. It is also the seller’s responsibility to be sure that the deed is free of any liens or mortgages and that the property can be sold free and clear.
Once it has been determined that the deed is correct and the seller can legally sell the property, it should be listed with an agent of the North Cyprus real estate market. The agent will be available to assist both the buyer and the seller. However, each party should have their own attorney in order to ensure no conflict of interest. Once the seller and buyer have met and agreed to the terms of the sale, a contract should be drawn up and the solicitors from each side should read and approve the contract before the parties sign. If you are the buyer, you should have your attorney check the title deed to be sure that you will be getting a title that is recognized by the TRNC and is free and clear from any liens. In some cases, the buyer needs to give his/her solicitor power of attorney so that transactions can be completed if the buyer is not available to sign papers.
