VERIFICATION OR DUE DILIGENCE OF PROPERTY IN CYPRUS

In Cyprus, as in other countries, there is a service of legal audit or due diligence of real estate. This service is caused by the fact that buying property a person invests significant funds compared to the cost of such inspection, and therefore in most cases, such a person wants to understand the history of the property, as well as take into account all possible risks in case of further use or sale. .

A property inspection in Cyprus is a study of the history of its creation, the change of ownership and the conflicts that have arisen with this property.

That’s why a legal audit or due diligence will protect you from the negativity of the history of the object. It is clear that 100 percent guarantees are difficult to achieve, but a full inspection of real estate in Cyprus, including a quality and complete inspection of the history of real estate will give you the opportunity to be ready to buy or sell such an object, and will help assess investment risks.

What to check before buying land, house, apartment or any other real estate:

Origin of the object and the first property right. Most often, violations of the law are allowed at the stage of construction and registration of ownership. That is why it is important to check how the right to build arose, the origin of the land, who built it and on what basis, whether there were conflicts or disputes during construction.

Analysis of previous owners. It is very important to understand the order of change of owners and who they really are, from the first to the last. This can be done either by analyzing all purchase and sale agreements, etc., or through appropriate registers.

What is the status of the property. It is necessary to investigate the documents on the basis of which the last registration of ownership took place, whether such ownership is currently encumbered by arrests or prohibitions on registration, the absence or presence of litigation and decisions regarding real estate.

Physical inspection of the property. Technical compliance check characteristics of permit documentation. It is not uncommon for previous owners to change something and not make appropriate changes and changes to the technical documentation, which in turn can lead to at least additional costs for legalization of such changes or even unfitness for use and significant investment losses.

Based on the results of the inspection of the investment object in Cyprus, you will receive a conclusion of our campaign which will reflect all stages of the inspection with identified deficiencies and comments, as well as an investment opinion on possible risks, if any.

Legal inspection of real estate on Cyprus is not the collection of information from the Internet, but rather a thorough understanding of the legislation in the field of construction and experience accompanied by construction and litigation.