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BUYERS GUIDE
When purchasing a property in Northern Cyprus there are certain regulations and restrictions that must be adhered to, to enable you to take the title deed (known locally as a kocan pronounced ko-ch-an) to be transferred into your name. These include checks carried out by the Ministry of Interior. The transfer of the title may take 8-12 months to fully complete, this however will not effect you being able to take possession of your property. Large investment companies usually do not have to wait more than 3 months.

Step One : Firstly you will inform about your property or investment requirements. We will then arrange an appointment with you to discuss and understand what your requirements are exactly.  This is possible via email however it is better to meet with you in person so that you understand how our clients needs come first.

North Cyprus Buyers GuideStep Two : After understanding your requirements we will then either show you personally or email relevant properties-lands- investments to suit your needs.  You will then decide what properties you wish to purchase.

Step Three :  After deciding what property you wish to purchase you will then put an offer forward through International Property Library.  We will then do negotiations on your behalf with the Developers or Vendors of the property.

Step Four : Once the offer is accepted via both sides.  A 5% non refundable reservation deposit of the agreed purchase price is made payable to the Vendor prior to exchanging of contracts.

Step Five : We will prepare the sales contract with a legal representative and will follow all legal procedures on your behalf.

Sunny Homes will follow on your behalf regarding the contract of sale.

Produce all relevant documentation from the Vendor:

  1. Site plans
  2. Title deeds
  3. Floor plans
  4. Building permissions
  5. Technical specifications
  6. Vendor identifications
  7. Legal search document – explaining that there are no charges or debts on the title deed.
  8. Bank details
  9. Agreed Payment plan if relevant
  10. Maintenance contract if relevant
  11. Agreed Extras list if relevant
  12. Deposit receipt
The Purchaser must produce all the relevant documentation: Buying Procedure North Cyprus
  1. Purchaser identification
  2. Bank details
  3. The TRNC law restriction on foreign ownership indicates that they can only own up to 1.25 donum of land or just one property per family.  However you can create a company or present a power of attorney to a Turkish Cypriot as a trustee.
  4. If the contract of sale will be signed by the Lawyer on the purchaser’s behalf, again a power of attorney is required.

Step Six : Signing of the contract and pay the stage payment according to the contract.

Step Seven : The purchaser’s lawyer will start to make an application to the council of ministers to process your permit to buy.   At the present time this procedure can take between 15 – 20 months. 

Step Eight :  Once you have received your right to buy. We will arrange a meeting with the Purchaser, Vendor and Lawyers to transfer the title deed to the purchaser’s name in the land registration office.  At this stage the Vendor should pay the necessary taxes to the related tax office and the purchaser is then liable to pay the necessary taxes to the land registration department and tax office. 
 
 
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