Topic: Tenant in situ UK we in Cyprus

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This topic contains 1 reply, has 2 voices, and was last updated by Richard Watters Richard Watters 3 years, 7 months ago.

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  • #2073

    Windowsxp10
    Participant

    We are retired in our mid 60’s, and living in Cyprus have a tenant in situ that ideally we want to transfer to a new landlord when he buys our property.
    The reason for the sale is we would benefit financial and we would be able to relax into proper retirement.
    We do not want to return to UK to sign forms and manage the sale.
    Would Escrow be a working solution?
    Our managing agents are not efficient and we want to obtain the best and cheapest(er) to handle our situation.
    We have been quoted between 1% and 2% by our agent plus their fees for breaking the contract.
    Ideally we want the sale to progress have the proceeds paid into our UK bank and pay off the outstanding mortgage.
    It is difficult to choose the best agent/person to achieve our needs

    #2075
    Richard Watters
    Richard Watters
    Moderator

    If you don’t want to be involved the best way to manage this is to give limited Power of Attorney (i.e. limited just to this property situation) to someone. This could be either someone you trust, a family member or close friend, for example, or your solicitor.

    You can then explain to them what you want to happen and they can sign on your behalf.

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