Before you bid, not after
We review legal packs for buyers bidding at auction and for buyers submitting a tender, on the online auction sites and on the bank and asset servicer platforms, and tell you plainly whether the lot is safe to pursue, at what price, or not at all.
Auction and tender are two routes to the same position. In both the pack is assembled by the seller, the terms are fixed rather than negotiated, and the moment a bid is accepted the buyer is committed. A tender usually allows a little more time than a live auction, which is an advantage only if it is used.
An auction pack is assembled by the seller. It is not a survey of the risk, and it is not warranted. What it leaves out is often the part that decides whether the lot is worth bidding on.
What to send us
Start with this: the names of everyone involved, so we can run a conflict check, a short description of what happened and when, and any deadline you already know about.
Once we confirm we can act: the listing or reference number, the legal pack, and the bidding or tender deadline. If the deadline is close, say so in the first line and we will treat it as urgent.
The review
What the review covers
We conduct our own Land Registry search on the lot and check it against the pack: the seller's or bank's title, mortgages, memos and prohibitions, and any notes of unauthorised works that could block a future title transfer. Each of those has a provision behind it. A memo is the registration of a judgment against the registered owner, and section 43 of Law 9/1965 provides that a transfer of the property does not annul the proceedings, extend any period fixed by that Law, or annul, delay or postpone any sale, so it follows the land rather than staying with the person. Under section 34 of the Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224, a division is not registered while a prohibition stands unless the person in whose favour it operates consents. And on an assignment lot, section 7 of Law 9/1965 prohibits a transfer by anyone other than the owner, which is why the route to a registered title runs through a third party rather than through the seller.
We review the special and general conditions of sale, the position on vacant possession and any occupants or tenancies visible from the pack, and the transfer fee and tax exposure of the purchase.
Just as importantly, we tell you what the pack does not reveal, and what that means for your risk. That is the part a bidder cannot do from the listing alone, and it is usually where the money is lost.
The opinion
What you receive
A written opinion in clear English, in good time before the bidding deadline.
A recommendation you can act on
Bid, bid only within a stated price range, or walk away. We give a firm view rather than a list of considerations, because a bidder needs a decision.
The title position
What the register shows against the lot, read against what the pack says, and what has to be cleared before a transfer into your name is possible.
The conditions you are agreeing to
What the special and general conditions commit you to on the fall of the hammer, and which of them carry a deadline.
What is not in the pack
The gaps, stated plainly, and what each one could cost if the risk materialises.
After a successful bid
If you win
We handle everything that follows: the contract or assignment, deposit at the Land Registry for your protection, the Council of Ministers permit where the buyer is a non-EU national, and the transfer of the title into your name.
The related work is set out under Property Due Diligence and Property. Where the same house is bought in the ordinary way rather than at auction, see buying a resale property in Cyprus. Where a buyer cannot travel, see buying remotely by power of attorney.
Fees
A fixed fee for each pack
The fee is fixed and agreed before the work starts, so it is known to you before you decide whether to bid. If you instruct us on the purchase after a successful bid, the review fee is credited against our conveyancing fee. Tell us the bidding deadline when you send the pack. Where the deadline is close, send it straight to office@kleanthousplatis.com with the deadline in the subject line, rather than using the form.
Common questions
How long before the auction should I send the pack?
As early as you can. We deliver in good time before the bidding deadline, and on an urgent basis where the auction is imminent. Tell us the deadline when you send the pack.
Do you review packs from any platform, and does this cover tenders?
Yes to both. We review packs for buyers bidding on the online auction sites and on the bank and asset servicer platforms in Cyprus, and for buyers submitting a tender rather than bidding at a live auction. The work is the same and so is the reason for it.
Do you carry out your own searches, or rely on the pack?
We conduct our own Land Registry search on the lot and check it against the pack. The pack is assembled by the seller and is not warranted, so it is not treated as the source of truth.
What happens if the review says walk away?
Then that is the recommendation, and it is the outcome the review is for. A fee spent before bidding is smaller than a binding commitment on a lot that cannot be transferred.
Can you act on the purchase if I win?
Yes. We handle the contract or assignment, the deposit at the Land Registry, the Council of Ministers permit where the buyer is a non-EU national, and the transfer of title. The review fee is credited against the conveyancing fee.
Who leads this work
Between them the partners bring more than 40 years of practice in Cyprus. Every matter is run by one of them.
Andreas Kleanthous
Partner
Litigation, personal injury and insurance claims, debt recovery, administrative law, real estate, wills and probate.
Klitos Platis
Partner
Litigation, corporate and commercial matters, property and construction, including pleadings, interim applications and trial preparation.
Written on this subject
Buying Property at Auction in Cyprus
PropertyBuying Property Without a Title Deed: Assignment of Contractual Rights
PropertyCommon Expenses and Communal Areas in Cyprus
PropertyReservation Agreements in Cyprus: What the Deposit Actually Buys
PropertyProperty Scams and Red Flags in Cyprus: A Buyer's Field Guide
PropertyThe Council of Ministers Permit: How Non-EU Buyers Acquire Property in Cyprus
PropertyAll our writing is on the writing index. Related: Litigation & Debt Recovery and Private Client.
Before instructing, tell us who is involved, what has happened and any deadline you are working to. Once the conflict check is clear we will ask for the listing or reference number, the legal pack, and the bidding or tender deadline.