Changing my off-plan property to a different one?

Discussion in 'Cyprus Property' started by steviebhoy, Jan 4, 2010.

  1. steviebhoy

    steviebhoy New Member

    Hi Folks,
    I entered into a contract for an off plan property in the Paphos area June 2008. As we all know, my chances of "flipping" it or renting it out are grim! Looking at resales prices I am now aware I have paid over the odds. However, that's life and that's the way it goes so I now fully intend to "buy to enjoy" and just accept it for personal use. The only thing is... I would now prefer a slightly bigger property on the same development. There is still about 9 months of construction remaining. I was wondering if this is possible from a legal point of view and what is the best strategy to approach the developer with? i.e asking them to drop the price on the bigger property etc?
    Thanks in advance.
     
  2. Gammon

    Gammon New Member

    Hi, hope this helps contact Helen @ Cyprus resales direct she could help who knows!! Are you on Arcadia.
     
  3. steviebhoy

    steviebhoy New Member

    Thanks Gammon but I dont think I have much choice but to stay put or accept a large loss. I'm happy with the development and location so would just prefer to have a bigger place now. Just not sure how to approach them or if its even possible.
     
  4. Veronica

    Veronica Administrator

    From a legal point of view there would not be a problem as long as the developer is happy to do a swap for you.
    Your contract for the smaller one would simply be cancelled and a new contract drawn up for the larger property.
    Everything depends on whether the developer is willing to do a deal with you, but as you are upgrading to a larger property I cant see any problem.

    Veronica
     
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