Bankrupt site ?

[Charliedog]

Some years ago we purchased a property on Marina Villas in Karsiyaka . We attended court several times over the 5 years we lived there and encountered various judge changes. The last time we attended court ( 6 years ago ) the judge looked at our paperwork announced that he would make a ruling and declared the site bankrupt and closed our case. We received no official paperwork and now I am wondering if the 70 k we paid 12 years ago has gone completely. We are now living back in the UK.

[thickey]

How sad just been reading the old posts from Cyprus 44 people robbed out of their retirement money it looks likes

[Charliedog]

Perhaps we were naïve. Not just us, there were loads of people in the same boat. Gary Robb was pretty awful. Our developers were English and just robbed us. There were 28 villas just on our site alone. The site is now derelict and everyone on that site lost money. We stayed living in Cyprus and attended court dozens of times. We, like others paid so called lawyers thousands of pounds, all for nothing. The judge who bankrupted our site said because our case had gone on for more than 6 years he could rule on our site so he did and bankrupted it. When I asked our "lawyer" why he hadn't mentioned the 6 year law to me he just gave me the Cypriot shrug and that was the last time I saw him. I have NEVER met one English person who ever made a profit in the TRNC. Luckily we hadn't sold up in the UK, lots did and lost everything.

[Robert157]

So who gained from this ruling by the judge

[Mimi2]

This has not happened to everybody. Our site was UK developers. We have our Kocan's . The site was properly parcelised. The one's that have been resold have traded at about 60% profit.

[Art]

We got our Kochan through the legal system but was then ripped off by a Brit.

[David]

Dont buy ... Rent

[JoandJelly]

So who gained from this ruling by the judge

The person/s that sold the properties in the first place I presume.

[Charliedog]

Hi Jelly are you the fella who walked your dog by the sea in Karsiyaka ? We used to meet you walking our dog Charlie if it is you. The people who gained were the builders (moderated). Steve Donaghy now lives in America after getting divorced from his Cypriot wife. Took the money and run. I seem to remember you having massive problems too. I hope these have now been sorted for you.

[JoandJelly]

Hi Phil it's Jo his wife. I will PM you.

[terry2366]

Is marina view the site by Sardunya bay

[Medjoul1]

Charliedog, I wouldn't reproach yourself forbeing naive. Transactions like these these depend on trust from both parties and trust appears be a rare commodity in the TRNC. The developer trusts you to abide by the contract to pay him as agreed and likewise you trust them to abide by the contract of sale. The system is almost designed to fail and ultimately seems to depend on the moral compass of the developer to succeed, as in Mimi2's case or end end up in heartbreak and loss like so many others.
All the best.

[EnjoyingTheSun]

I have NEVER met one English person who ever made a profit in the TRNC.

For all the estate agent spiel have property prices really gone up in recent years? I guess there might have been a bubble around 2004 ish? But since then?
Forget what a villa is valued by the estate agents, it is worth what someone will pay for it.
Have any sold for a profit in the last 10+ years?

[Charliedog]

Hi Terry Marina Villas is down by Sarduna. Could have been so nice there.
We were sold a dream that turned into a very costly nightmare.
Our friends who lived in Karsiyaka for 15 years + sold up late last year and lost a fortune, after paying taxes, kocan etc etc they reckon they paid got 50 % of the money they had paid out.

[terry2366]

Yes I am close to the site and wondered what had happened to it. Someone seems to be working on two houses there .

[Yes and no]

Re price increases,I bought a 4 bed detached villa 10x5 pool full kocan last year £80k.

[sophie]

Yes and No has put into words the one reason I can't be bothered to put our place up for sale. We fell into the hands of crooks, robbers and scheisters and that includes the so called solicitor ( I believed we were fairly savvy, having bought and sold 14 properties over the years in the UK and made a profit on every one) . The family don't like it here (too dirty) so I've told them that when we pop our clogs, just come over for one final time and set fire to the place, have a great time and just walk away from it once and for all. I know someone will take over the piece of land that will be left, but hopefully the snakes and wild animals will come back first.

[terry2366]

Sad that Sophie to have wasted so much time on a place, have you not tried to sell as there seem to be lots of agents driving round looking for properties here at the moment. Yes and no seem to have dropped lucky. Also rent to buy should be a good thing here with the state of things decent deposit and monthly payments.