Purchase Groups – Z.E Properties

Z.E. Properties 4U

Purchasing Groups

Z.E. Properties 4U Ltd offers exclusive new apartments in Greek Cyprus, perfect for both living and high-yield investment. The Kitty project, presents a prime opportunity for buyers seeking good quality homes

Purchasing Groups

Do you think about buying an apartment in Syprus for living or investment?
Are you also experiencing a financial reality that keeps your dream of owning your own apartment away?
If so, this information about purchasing groups may be of great interest to you.
A purchase group can be a solution both for your need and for a hardship in life. A Purchase group idea born to minimize buying costs and allow you to get more for less money. In this case the size does matter, that is, the more people gather for the same purpose, the more ideal the result, and in this case the future apartment is cheaper. Hence, if you are considering purchasing a new apartment and also reducing the total costs, so as to enjoy cumulative savings of not only about 20% in development costs, but to buy an apartment at half the price and maybe less compared to the cost of a similar apartment in yuor country, you should consider the so-called economic and popular option. “Purchasing Group”.

What is a Purchase group?

The structure:
Well, a purchasing group refers to a collection of people who choose to join together in order to establish a residential building, or in order to manage to control who the neighbors will be and above all in order to save a lot of money, and as you will see later, it is indeed a very economical option. A purchasing group can be the product of an independent organization – for example of friends, family members, or people with a common denominator, and in the same breath can also be the product of an external body – such as a managing company, or a private entrepreneur. In addition to private construction, z.e properties also offers the possibility to incorporate through a purchasing group.

The Mode Of Activity:
The z.e. properties company offers you the possibility of grouping you in groups of 6-24 or more people who together will sign an agreement to buy land and build residential apartments on the land. The z.e. properties company opens from time to time a new purchasing group according to a predefined purchasing plan. Only after the formation of all the members of the group will they sign a “real estate sale agreement” with the land owners. All rights will be handled legally through a Cypriot attorney who will help us protect your interests in the transaction. An integral part of this is an escrow account in the name of a lawyer in which there will be at least two signatures for each operation in the account. Each member can of course also follow his lawyer and it is best for the whole group to agree on one lawyer who represents it in front of the Cypriot lawyer.

Second Option:
z.e. properties may purchase land and own it. In any case, z.e. properties will use its experience and knowledge and select the architect and contractor and manage the planning and construction.

How does z.e. properties choose the location and the land?

We will check that the land is clean from a legal point of view, that its location is attractive, the purchase price is as low as possible and that regionalization will not lower the value of your property.

About the process itself:
A purchase agreement must be signed with the land owners, or with the zeproperties company, perhaps also a sharing agreement with all group members. Both of these agreements are supported by the professional accompaniment of a lawyer who will accompany the project from the beginning until the final registration of your rights in Tabu.

Financing:
The cost of the land should be paid immediately with the purchase of the plot and divided between all members of the group. If it is about apartments of different sizes, a proportional calculation will be made for each member according to the relative area from the rule. The land will be registered in a tabu speaking for all the members of the group personally. The continuation of the project will be financed by the contractor’s members according to the construction budget, subject to the architect’s approval of the contractor’s compliance with all conditions.

Benefits of a group purchase:

1. The great advantage of a purchasing group lies in the fact of buying a new apartment at a much cheaper price – about 20% of the price of an apartment sold from a contractor. There is also no need to pay for marketing because the apartments are sold in advance.

2. Conduct within a purchasing group is much safer and more efficient because the land belongs to the members of the group and the contractor is paid according to the stages of progress.

3. It is possible to obtain a higher quality specification alongside a lower budget.

4. Total legal calls are cheaper.

5. Members gain a distinct design advantage, because they are partners from the first moment in the planning of the building and the specification of the apartment, so that in advance it is possible to make sure that the apartment will meet all the needs and design preferences.