Crystal Ball Time!

[Aitchie]

Any opinions on whether it is better to go for Kocan transfer now and maybe have to pay the builders tax on top of your own costs, or wait for possible procedural/legislative changes that may be brought in by the government to tidy up the builders 'Dick Turpin' activities, or will European legislation take care of it if a solution is found?

[Owl Lady]

How long is your own life expectancy??

[Aitchie]

Owl lady
Dont you think that a settlement and European law adherence will make a difference to the present situation?

[kaiserphil]

Owl lady
Dont you think that a settlement and European law adherence will make a difference to the present situation?

Aitchie, has it done in the RoC?

[Aitchie]

Owl lady
I dont know all that much about the Souths aftersales on property record, I have heard about people being conned out of their houses after payment as happens over here, but for those who have their homes and are looking for documents, I dont know! can you enlighten me?

[cyprusishome]

I believe the number of people in RoC still fighting for kocan is in excess of 130,000. The law in the south does not enforce the handing over of the kocan so you may never get one under their current legislation and despite membership of EU.

Personally I would always go for kocan at earliest opportunity, that is the one good piece of advice given by our lawyer and certainly advocated by HBPG, at least you have a kocan that says the land is yours. If you wait who knows what may happen?????

[Aitchie]

Cyprusishome
Thanks for the input, and I see the wisdom in your words, It appears that there may well be no change through the European access if the talks are successful, I read an earlier thread on here that indicated the Government may put the giving of Kocans in the hands of (I think it said) the land registry, this would surely make a difference if it takes the tie to the builder paying his taxes out the equation?

[Owl Lady]

Sorry didn't mean to be flippant in my remark. Yes I do agree that if you have the chance to get your Kocan, then go for it asap. It may cost you extra now, but then you have the knowledge, that you have more security in the future! (Well that's what I want to believe)

[Jonnie]

Personally I am in favour of get what you can when you can. I think the fees are currently discounted so I would take advantage of that. Any North South settlment if there was an agreement will most likely go to the vote so I would prepare for at least a year on that too. The most secure thing is to have your Kocan in your own name especially if something could be contested in the contract stage. My house contract was so weak I could not believe it, no witnesses to the signatures etc, I would worry about what could happen in the confusion of a settlement.

[Aitchie]

Thanks for all the replies, I will take notice and act on the advice given.
One more thing; does anyone know for sure if the fees are discounted, and if so what percentage will an expat be expected to pay?

[Owl Lady]

Aitchie read front of Kibkom Times today re discount!!

[tomsteel]

Regarding the builder's tax payment. If your contract states the builder is responsible for payment, why should the vendor be blackmailed into paying the tax? To do so opens yet another route for builder's to fleece the "yabancı para inek" and puts all other purchasers at risk of facing the same fate. Seek legal advice for possible breach of contract or negotiate, but do not pay their taxes.

[paddywack]

Regarding the builder's tax payment. If your contract states the builder is responsible for payment, why should the vendor be blackmailed into paying the tax? To do so opens yet another route for builder's to fleece the "yabancı para inek" and puts all other purchasers at risk of facing the same fate. Seek legal advice for possible breach of contract or negotiate, but do not pay their taxes.

It has already been done many times, 40 buyers on Cyprus Cove had to pay Santefe`s tax in order to get Kocans.

[tomsteel]

paddywack - that's just so wrong. Sante Fe should have had a Class A action taken against them. However, the principle remains - 'yabancı para inek' going this route put everybody else at the same risk and that is just not right IMHO.

[Aitchie]

Owl Lady
I have seen the article and it is good news, but I expect any savings I make will be given over to pay the builders tax if push comes to shove!

Tomsteel
I agree it is very wrong, but when the option is to leave the kocan in the builders hands and risk mortgages being put on the property (I do have my contract registered so it shouldnt be a problem) however the builders do not have any pressure put on them by the government to pay their dues, and are quite happy to let you sweat it out so as I see it a bird in the hand etc springs to mind.

[paddywack]

paddywack - that's just so wrong. Sante Fe should have had a Class A action taken against them. However, the principle remains - 'yabancı para inek' going this route put everybody else at the same risk and that is just not right IMHO.

Theory and practice are two ball games far far apart in TRNC.

[MVP]

Get your kocan asap if at all possible.
Pragmatism outweighs any other considerations, especially in Cyprus