Buying Off-Plan in Cyprus: Protecting Your Deposit and Title
Developer due diligence, payment milestones tied to construction, contract deposit and what to demand before completion.
Due diligence on the developer and the land
Verify the developer company, its other projects and any litigation. At the Land Registry, check who owns the plot, existing mortgages and whether planning and building permits cover the project you are buying.
Negotiate milestone payments and protections
Tie instalments to construction stages, set a delivery date with penalties for delay, and require a clause on the title deed: who obtains it, when, and what happens if the developer's bank holds a mortgage.
Deposit the contract and inspect before final payment
Deposit the signed contract at the Land Registry so your claim is registered. Before the last instalment, inspect the unit against the specification, request the completion certificate and agree a snag list.
FAQ
What if the developer is late or never delivers the title deed?
A contract deposited at the Land Registry supports a claim for specific performance, meaning a court order requiring the transfer. Keep all correspondence and consult an advocate early, as delays can worsen if the developer becomes insolvent.