Payment plans

1. Off-plans for Purchase of New buildings and Habitation at the Building Stage.
2. Plans of Payments of the Ready and Secondary Real estate

1. Off-plans for Purchase of New buildings and Habitation at the Building Stage.

One of the first questions which to us are set by our potential buyers are a question on variants of payment for new habitation or habitation at a stage of the building, used on Northern Cyprus. We can offer some variants, and under certain circumstances to adapt the payment plan under your individual requirements and wishes. Here, for example, some of variants:

1 – Stage-by-stage Payment

Example №1

• 20 % the deposit at signing of the Contract of Purchase and sale
• 20 % on termination of the base
• 20 % on termination of a ferro-concrete design and a roof
• 20 % on termination of all walls, partitions and plaster
• 10 % on termination of windows and floors
• 5 % by transfer of keys
• 5 % at registration of the Title addressed to the new owner

Example №2

• 1,5 % the deposit for reservation
• 20 % at signing of the Contract of Purchase and sale
• 20 % on termination of the base and designs
• 20 % on termination of a roof, walls, plasters
• 20 % on termination of windows, electricians and sanitary technicians
• 16 % by transfer of keys
• 2,5 % after elimination of all lacks (if those are found out by the client)

Example №3 (purchase of the real estate for the purpose of resale)

Let’s assume, that you have decided to enclose means in under construction habitation, using stage-by-stage payment, for the purpose of its further sale and reception of good profit – either on termination of building, or at a certain stage of building. In this case you do not need to submit on a Title (absence of the Title does not prevent neither to sell nor to live to hand over the real estate), thus you considerably cut the expenses on the lawyer, and also do not pay any taxes. For example, you wish to buy a country house at the price of £135 000, and agree with the seller on stage-by-stage payments (for example as in the Example №2 – see above).

• You pay the deposit for reservation of 1,5 % – £2 025
• You instalment the first payment at signing of the Contract of 20 % – £27 000
• You instalment the following payment at end of the base and ж\б designs of 20 % – £27 000 (usually it occurs later 3-4 months from the building beginning)
• You instalment the following payment on termination of a roof, walls, plasters of 20 % – £27 000 (usually it occurs later 6 months from the building beginning)
• You instalment the following payment on termination of windows, sanitary technicians and electricians of 20 % – £27 000 (usually it occurs later 10-12 months from the building beginning)

Let’s assume, that at this stage you decide to sell partially finished real estate. Till this moment by you it is already paid under Contract £110 025. The price for the object which is in the given stage, will be above the initial price stipulated in the Contract of Purchase and sale, at least on 30 %, and will make £175 500. Under the Contract not paid the sum in £24 975 remains you, this debt passes together with the Contract to the new buyer.

So, we will bring financial as a result:

Price sales – £175 500

Paided you under the Contract – £110 025

The remainder of the debt not paid under the Contract – £24 075

Profit = £175 500 – £110 025 – £24 075 = £41 400

This means, that with enclosed 1 one year ago in £110 025 (and stage by stage) you receive the sums the income equal £41 400, that makes 37,63 %!

The note: the Income of sale essentially increases, if you sell the ready real estate.

2 – the Advance payment

On the real estate chosen by you with the price in prescribed manner the off-plan, at entering of a full advance payment by you, will give the discount, an order of 7-8 %. Thus, from object in cost £100 000 you will save order £7 000 – £8 000.

3 – Payment by Equal Payments Monthly

On the real estate chosen by you on Northern Cyprus, under condition of entering of the initial deposit by you, we can agree with the owner / the builder about payment by equal monthly payments during all period of building.

4 – the Personified Plans of Payments

We here to help and assist you in the course of purchase of the object of the real estate chosen by you on Northern Cyprus. Above some variants most often used here have been stated only. If you have other ideas and wishes concerning payment – we will be always glad to promote you, address!

2. Plans of Payments of the Ready and Secondary Real estate.

As a rule, purchase of ready or secondary habitation means full payment of all sum under the Contract. The deposit of 10-20 % is usually paid at Contract signing, and the remained sum pay by transfer of keys. Sometimes the seller agrees instalments during 1 – a maximum of 3 months from the moment of Contract signing. The seller also can postpone definitive payment of an order of 1-3 % from all sum under the Contract till moment Тitle transfer for your name.

If the instalments for longer term are necessary to you or it is necessary to stipulate any other conditions – we also can promote and agree with the Seller, how it is possible, to make payment conditions more flexible and convenient for you.

Remember that we represent only your interests.