The North Cyprus real estate market is one of the most active markets at the moment. People have begun to discover this little piece of paradise nestled in the crystal clear waters of the Mediterranean and they want their share. Whether you are looking to buy or attempt to sell in the North Cyprus real estate market, it is important to ensure that the transaction is carried out legally. Knowledge of Northern Cyprus Real Estate laws is essential when buying or selling real estate. In this market, it is important to use a real estate agent as well as a reputable local attorney.
If you want to sell a property on the North Cyprus real estate market, you should research the property title to ensure that you have a TRNC (Turkish Republic of Northern Cyprus) recognized title. There are several types of deeds that can be attached to the property. A local attorney can help you conduct 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 responsibility of the seller to ensure that the deed is free of liens or mortgages and that the property can be sold free and clean.
Once it has been determined that the deed is correct and the seller can legally sell the property, it should be listed with a North Cyprus property market broker. The agent will be available to help both the buyer and the seller. However, each party must have their own attorney to ensure there is no conflict of interest. Once the seller and buyer have met and agreed to the terms of the sale, a contract must be drafted and the contract must be read and approved by attorneys for each side before it is signed by the parties. If you are the buyer, you should have your attorney check the title of the property to make sure you will get a TRNC-recognized title that is free and clear of any bonds. In some cases, the buyer must provide power of attorney to their attorney so that transactions can be completed if the buyer is not available to sign documents.