Pitfalls: Buying a plot and building timber house

Pitfalls: Buying a plot and building timber house

Сообщение MichaelSmith » 15 май 2018, 12:22

Hi,

I am currently considering buying a plot and building a timber house (probably 3b bungalow) on it. The plot owner and timber house developer are not the same, and not even linked to my knowledge. My main motivation for doing what is admittedly the most bureaucratically complex way of getting a home is cost and time. I intend to buy the plot first with cash and then finance the construction with a relatively small loan. Fortunately I have enough money to do so, and would like to minimize debt as much as possible. Also, construction time for wooden homes is to my understanding much faster than concrete construction. I am also fortunate to have a solicitor friend and a surveyor friend who are both Cypriots and who will advise me as I go along. The wooden house developer comes recommended for professionalism and honesty.
Having followed Nigel's articles, I am well aware that purchasing and constructing here in the ROC is a bit of a minefield. While I know of the general problems concerning title deeds in the ROC, I am a first-time buyer and want to be extra careful which is why I have enlisted help.
As it never hurts to wear suspenders and a belt (so I'm told), I would like to ask the forum for your thoughts regarding the potential pitfalls of acquiring a home in this manner.

Any help will be apprecited.

I didn't find the right solution from the Internet.

References:
http://www.cyprus-property-buyers.com/f ... php?t=1521
Explainer Video Service

Thank you.
MichaelSmith
 
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