sale of land in Cyprus

Questions about selling property
Post Reply
suenat1
Posts: 20
Joined: 23 Jun 2010 14:43

sale of land in Cyprus

Post by suenat1 »

Hi Nigel

could you give me some advice or recomend a land agent
to value 3 plots of land that we own in Cyprus which we
are looking to put up for sale asap. Would you have any
idea what sort of figure an agent would charge to do this
we have been told the best idea would be to obtaIn 3
seperate valuations.
Is this the usual course of action to take?

Regards

Sue Horton
Nigel Howarth
Site Admin
Posts: 2911
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
Contact:

Re: sale of land in Cyprus

Post by Nigel Howarth »

Hi Sue

Any reputable estate agent will be able to give you a valuation. Also, there is the Cyprus Association of Valuers and Property Consultants - http://www.propertyvaluers.org.cy/index.php?lang=en who will also be able to provide you with a valuation.

I do not know how much this will cost.

Once you have a valuation, I suggest that you advertise the land on the Internet. Some sites, such as Angloinfo Cyprus, offer advertising.

If you do decide to use an Estate Agent, make sure your lawyer looks over any agreement before you sign it (some agents charge regardless of whether they achieve the sale). And be prepared to haggle the estate agency fees - they usually charge around 5% (+VAT).

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Pantheman
Posts: 807
Joined: 26 Jan 2008 14:44
Location: Famagusta District
Contact:

Re: sale of land in Cyprus

Post by Pantheman »

suenat1 wrote:Hi Nigel

could you give me some advice or recomend a land agent
to value 3 plots of land that we own in Cyprus which we
are looking to put up for sale asap. Would you have any
idea what sort of figure an agent would charge to do this
we have been told the best idea would be to obtaIn 3
seperate valuations.
Is this the usual course of action to take?

Regards

Sue Horton
Getting valuations is fine if you are looking to borrow on them, but in my experience, they do not carry any weight when w
wanting to sell.

The market is still unstable and the 'best' idea of what you can get for them would be to look around similar plots prices.

if your valuer gave you a high valuation and similar nearby parcels were on sale for a lot less then you will not sell.

Valuations from a official valuer will cost a %age of the value. Getting 3 valuations, will cost you.

You could get any estate agent to give you a today market price, so you could get a couple more in and see what figures they give you.

Land values have fallen significantly, now is not the best time to sell, but if you must, then you must.

The price is very much dependant on zoning, location road access etc, there are a number of factors to consider. So when you are comparing you need to be doing like for like.

Just out of interest, where is your land located and size? Do you own it out right or a share??

Good luck whatever route you take.

Pan
For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com
Post Reply