Looking to move abroad can be a big decision to make, and the best thing to do is to weigh up the pros and cons of making a move and then deciding which sort of property will be the best for you. In many cases it is a resale property that will be the best option, but still there needs to be a lot of research that should be undertaken. It seems that it will be the perfect way to make your dream move, but rather than get involved in a process that may be both difficult and expensive to extract yourself from.
Resale properties are also known as shared ownership and part buy part rent. There are many people who will find that this is the ideal way for them to get on the property ladder. They may want to have their name on a mortgage, but would either not secure one at all, or not secure one that will allow them to purchase the sort of property they really want to live in. When someone is involved in this sort of property, but decides that they want to move on or just get, out, resale is possible and there are a lot of others who will gladly take their place. It is a totally legal way to buy and sell a house, and the fact that only part of the property is owned will not make it difficult to go through the process.
As the owner it will be difficult to sell the property alone, so there is the need to bring in a company to help and there will be many who have experience and will be able to get a great deal for them. This is the way to get into home ownership and it is a very flexible way of getting onto the property ladder. Shared ownership is not the easiest thing to get into, but resale makes it a little bit easier than going down other routes. Both sides will be fully covered when dealing with a company and there is little or nothing that can go wrong on either side.
Getting onto the property ladder is hard so it is a little easier when going down the resale route. The criteria are not as strong, and many more people will qualify. As long as you are considered to be good to make the repayments there should not be an issue. It will also be reassuring to know that you do not have the entire cost of the property depending on you.
When looking to buy a property you need to consider how much of the property you want to own and how much you want to rent. It is important that you carry our research when looking for a property as you will not be able to buy or rent more or less than the person you are taking over from. You may find that you have to find out which properties are owned/ rented in the percentage that you want rather than choosing a property you are interested in and then finding out that you are not eligible to get involved. You may have to get a property that fits what you can manage to pay and what is available at the time you are looking to enter the market.
The rental side will normally be subsidised so it is worth remembering that when deciding how much you can manage to pay via a mortgage. Amounts may vary so be sure that you do not overstretch your budget or there could be problems early on in the arrangement. You don’t want to spend months doing research only to find out that you need to start again due to missing out a small part of the transaction.
It is a good idea to use an agent when it comes to selling the property although there will clearly be a fee involved and this will be more than it would cost if it was being sold privately. It is possible that you will be asked to pay the equivalent of 5% or even 10% plus VAT and you will realise that you have agreed to a long involvement and once in a contract it is very difficult to get out of. It is not unheard of for the price of a resale property to be a lot higher than expected as it means that the fee will be covered by the purchaser and the seller will be able to save themselves a little money. Consider this when looking at the price of properties and take into account what you would have to charge if at some time you need to sell the property on. If this has been done a number of times, it will mean that the price being asked is a lot more than the house should be worth and a lot of potential buyers will be put off making a bid.
It is possible that there will be the chance to work with a company that does not charge commission and yet they will still be able to reach as many people when it comes to advertising the property you have for sale. This marketing is going to be worldwide and as there are many people who understand the many advantages of owning property in Cyprus, you can be sure that a lot of people will be reached and there are a number who are bound to be interested in what you have to sell. While Cyprus is a desirable place to live, there are always going to be foreign nationals looking to set down routes there and due to the expense that can be incurred in moving to another country, it is likely that many will be looking at resale properties.
Adverts will be placed on a wide range of mediums, including radio stations, local magazines, newspapers, as well as specialist papers that are going to reach people in the market for what you have to sell. The internet is going to be the perfect way to reach people and with state of the art and up to date websites, they will attract first visitors and they will turn into buyers.
Regardless of whether you are looking to buy or sell a resale property in Cyprus, you should look at the website yourself. If the site would encourage you to buy then it is bound to encourage others, so you can be sure that you are using a good company and there is the chance that you will soon have a buyer. Look for the feedback section that the site has and it will outline the experiences that other users have had. It may be worth Googling them and seeing if they are accurate or if others have had to go elsewhere to leave less than complimentary reviews.
Some real estate agents will just deal with resale properties and this will be the place to go to see what is available and what has to be done to buy or sell a resale property.
Although there are many benefits to Cypriots who buy resale properties, there are even more for people who are living outside the EU and want to become members. By becoming a homeowner in Cyprus there are advantages over and beyond the chance to live in such an outstanding country.
As well as having wonderful school and being a safe place to live, it is a beautiful island and has so much to offer to anyone who wants to go and live there. Companies have a lot of experience when it comes to providing permanent residency on Cyprus. Before these can come into force, though, there are certain criteria that must be followed as not all properties are what they seem to be. In order to be allowed to live in Cyprus on a permanent basis, you must be a property owner, and should avoid houses that are for sale on a basis that does not suit you. Some will have mortgages that will not allow you to become a resident of Cyprus and if this is the case there is something very important that you are missing out on. A truly professional organisation will have lawyers on hand to advise what will allow residency and what will not. It is only when the advantages of being a resident becomes clear that it is understood why it is such a big deal. They will start at the beginning with you and will not end until you become the owner of a resale property. All paperwork will be filled in and the submission will be made for you.
As Cyprus is part of the EU, you will become a member as well and this will lead to many wonderful things. You will benefit greatly from being a member of the EU, and the purchase of a resale property in Cyprus is the ideal way to do it. There are a few phases that have to be lived through in order to gain this citizenship through a resale property. The owner must live there for 7 years although there are large chunks of the year that can be taken out and the main thing to remember is that the last year could be classed as the most important and there is the need to remain in Cyprus for the majority of the year and any time spent away should be for 2 weeks at the most.
When looking for a resale properties in Cyprus there are extra advantages such as the tax regulations which are very good for retired people.