WHAT IS THE PURCHASING PROCESS FOR AKAMAS BAY VILLAS?
As a buyer, your first step is to select your unit, sign a reservation agreement and lodge a refundable deposit. This deposit will hold the selected unit for a period of 21 days until the sales contract is signed. Should you decide not to proceed, then the reservation deposit less any expenses will be automatically refunded. Within a maximum period of 21 days of paying the reservation deposit, you are required to sign a sales contract and pay 20% of sales value less the reservation fee. This is a legally binding agreement which sets out who the vendor is, the name of the purchaser and the project name and location, as well as the specific unit and unit type of property purchased. Terms are also laid out in the contract. Stamp Duty is payable at this time at the rate of 0.15% on the first €170,860 and 0.2% on any amount above this (see below). Once you have signed the sales contract, you and/or your lawyer will need to deposit a copy of the same with the Land Registry to ensure that you
