House/Land auctions

[helendj]

Hi there, we're in a situation where our uncompleted property, and others, may go to auction as the developer is being taken to court. Has anyone experienced this - what we are looking for is to know whether these auctions are likely to lose us money when theland/houses are sold. any advice welcome

[Dalartokat]

Helendj, you will find a lot of information posted over the years on various forums regarding your predicament. In fact, there has just been an auction of apartments in Girne on Sunday gone and the new owner is a TC. I think the answer to your question regarding losing money goes without saying.

Good luck.

[helendj]

thank you for your response - unfortunately I am of the same opinion

[Art]

I'm currently going through the courts with our Brit developer and my Solicitors informs me that in the event of our property going to auction we could expect a return of 60 % of the contract price + any other saleable assets-not good news I'm afraid.

[Art]

I have just read some comments place on the "Cyprus Free Press" by Pauline Reed which have been totally distorted and bare absolutely no relevance to my current legal situation and even if my property was to go to auction (and it won't) none of the conditions outlined in her article would apply.I also resent her continuous attack on the TRNC government and solicitors.The assumption that I'm using a female solicitor is also incorrect and I really do question what she is trying to achieve apart from "scaremongering " .

For legal reasons I will not disclose details of my case but will finish by saying " I every confidence in my solicitor and from the position we were in 18 months ago we have made significant progress".

[Hector]

" I every confidence in my solicitor and from the position we were in 18 months ago we have made significant progress".

Now that's a statement I can't remember hearing before in the TRNC. I really hope your faith in your advocate (assuming he is in the TRNC, they are not solicitors as the UK definition) proves well founded.

[Art]

I think you have highlighted the nub of the issue -"-we never get to hear the good news about the legal system or the excellent results that some Advocate's achieve "-there seems to be this myth that the legal system and all advocates are corrupt .Sadly you only get to hear the bad news from the likes of Pauline Reed who clearly is working to her own agenda. I can honestly say from my own experience that "although the legal process is slow and is riddled with unnecessary adjournments in my case it has been effective and without it we would never be the legal owner of our property.". I know many others who have successfully sued their builders etc and have been paid the agreed level of compensation but these people tend not to broadcast the details of their experience .