Better protection for buyers
Better protection for buyers
As a potential buyer of property, particularly if you are considering buying abroad, the whole process may seem like a legal, financial and logistical minefield. Your dream of a place in the sun may at times feel clouded with concerns about all sorts of things, not least whether your property investment is sound.
It is completely understandable, not to mention sensible to question whether your investment will be safe. After all, you are considering spending a sizeable chunk of your hard-earned cash in a country where you probably don’t speak the language or at the very least you are not au fait with the legalities.
Okay, you’ve probably been told that you can’t go wrong investing in bricks and mortar (and gold bullion of course, although a block of gold has far less fun factor), but whatever your investment, especially in property, you will need peace of mind that in years to come it will remain solid and secure, literally!
In North Cyprus, for the first time, builders, developers and vendors of newly built properties will be able to offer 12 year build warranties, something that will undoubtedly have an unprecedented and hugely positive effect on the Northern Cypriot construction industry. To put this in context, think NHBC certificates, or buildmark warranties as they are now known in the UK. This type of internationally recognised and regulated scheme has not previously been available in North Cyprus until now. And it is North Cove Estates who are able to provide potential buyers with the future peace of mind that only an insurance backed warranty can offer.
North Cove is a highly experienced estate agent with a selective portfolio of property based on value AND quality. It is also the first estate agent in North Cyprus that will be able to offer their clients new properties certified with 12 years build warranties backed by internationally recognised professional indemnity insurance.
In highlighting the importance of these introductions, Manager of North Cove Estates Peter Faulkner states: “The provision of warranties and professional indemnity insurance is essential for the property market in North Cyprus to bring the sector in line with the rest of Europe. It is exactly what is needed to boost the confidence of potential buyers”.
So how does it all work? Well, the warranty ensures that a new build will have undergone multiple inspections during the course of construction, with certification on completion that the materials and build are specification and regulation compliant. Thanks to this process the warranty will protect both the build AND the prospective buyer against defective construction, literally from the foundations up.
And the insurance that backs these warranties? This simply adds a further and financial layer of protection for good measure.
Okay, so how does North Cove do it? It’s all about trusted professionals. North Cove Estates works in affiliation with North Cyprus Contract Services Ltd (NCCS), a fully established Northern Cypriot company authorised to undertake insurance business within the TRNC (Turkish Republic of Northern Cyprus). Further, NCCS works in partnership with a leading UK insurance broker, Howdens Insurance Brokers Ltd, and together they ensure that all FSA (Financial Services Authority) and professional indemnity requirements have been approved within the UK.
So no more cracks! Its providing peace of mind that’s the key to North Cove’s success and the key to providing you with a place in the sun, stress-free. Why crack yourself up worrying about the ‘what ifs’. It really is a job for the professionals and they have got it well and truly covered.