Purchasers Checklist

Purchasers Checklist

1. Obtain reliable and professional local advice.

2. Before signing any agreement carry out a search at the District Lands office to check for encumbrances.

3. If the property to be purchased is a house or a flat, check whether there is a building permit and, if completed, whether a certificate or approval for the building has been obtained from the appropriate authority.

4. If the property to be purchased is a piece of land, check the following:

(a) Whether it has road access (without it, building is not possible);

(b) If the land is part of any zone or area where building is restricted;  if so, find out the extent of the limitations;

(c) Whether the supply of water and electricity is possible and at what expense.

5. In all cases, check the availability of a telephone connection.

6. Do not enter into any contract before consulting a lawyer and being assured by the lawyer that the case is one in which the relevant permissions from the authorities would be granted.

7. When entering into a contract, check that there are proper securities and provisions ensuring:

(a) The eventual transfer of the property and the issue of a title deed free from any encumbrances;

(b) That the contract has provisions regarding the securing of relevant permissions from the authorities by the Vendor;

(c) That possession is delivered to the purchaser upon execution of the contract whre the building is completed and, if not completed, upon completion;

8. Ensure that the contract is signed by the seller in the presence of two witnesses and that are all competent to contract (including the witnesses);

9. If the seller is a company, ensure that all corporate actions have been properly taken for the valid execution of the contract.

10. As soon as practicable after the execution of the contract ensure that:

(a) An application is submitted to the local District Administration Office along with all necessary supporting documents for obtaining the permission of the Council of Ministers (where is required);

(b) A copy of the contract is lodged with the District Lands Office within two months of its execution, thus ensuring that the contract becomes a charge on the property and that it may be specifically performed.

11. Consult with your lawyer if any additional measures are necessary under the specific circumstances.