But, if you purchase property from a positive reputation on the market TRNC company that has "shoulders" a lot of built facilities, nothing to fear. Well selected real estate before construction begins, ultimately, will give you the results, no matter – it's an investment project or a home for life. Before the final decision, we show customers the finished version of the exponential property (called a "show house") or a complete real estate listings (complexes) of the construction company for which you can judge the quality of construction, the scale of a construction company and the developer. Real Estate Loans As we mentioned on our site, the banks in the TRNC does not lend to foreign nationals. Therefore, many Construction companies have credit facilities to customers themselves. Duration of loan solely depends on the conditions of a construction company, typically a period of from 3 to 10 and, in rare cases up to 15 years. Terms Credit is also different – the annual interest of 7% to 15%. Each buyer has the right to premature repayment of the loan (this condition is entered into the contract).
But, of course, not all companies provide services to Northern Cyprus, the credit rather we can say very few companies provide loans for the long term. When buying real estate loans is an important factor in the initial payment. The usual minimum initial contribution – 20 -30%. If Properties under construction and the buyer decides to take credit for such property, then until the completion of the installment paid (interest free), and after payment begins the remaining amount of the loan. Complete Real Estate Ready Real Estate – real estate is a "turnkey" or under 90% done. Many real estate developers are left on the stage of choosing a buyer Final materials – floor boards, wall tiles, sanitary ware, wall colors, choice of material for wardrobes, cupboards, etc. All this is included in the price, but the buyer the right to choose finishing materials for its direct "taste." Normal time to completion or "turnkey" 1-3 months. Payment of the last installment (on contract) – after "device" property.
If a property with a pool – in most cases – it is a proven, full of water, a swimming pool. Naturally, in installments in this case can not be counted. However, if the property is bought at 100% payment, we can expect certain benefits from the builder. When buying a ready-made real estate loans is possible. Resellers – a special category of real estate transactions that are fundamentally different. For the buyer has its big advantages: in most cases – it habitable house with garden, perhaps with the completion and furniture. Two more benefits – 5% tax (the amount specified in the contract) was paid on real estate owner (paid once), as well as titles to real estate can be already received. Negative – for those who dream of buying on credit or hire – payment of resale properties – 100%, with the consent of the owner of real estate – installment payments may be in six months, in rare cases, a longer period. It is believed that the secondary real estate is much cheaper than new buildings. It's not quite true. Of course, there are options for a "hot property" in connection with the urgent relocation, personal reasons, but such cases fast sales are rare. As mentioned earlier, one goal of buying a property before construction (so-called off plan) – increase the price of property for the construction of its future resale.