Advice on selling land

Questions about selling property
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Lamb
Posts: 5
Joined: 11 Feb 2008 10:55

Advice on selling land

Post by Lamb » 11 Feb 2008 13:31

Can you please advise me on how best to advertise and hopefully sell, a piece of land i have in Kalavasos village. It comes under Larnaca area but is closer to Limassol and Zygi / Governors beach. Approximately 17,300 Sq. M with varying building factors 3,700 Sq.M are 6%, 6,400 Sq.M 30% and 7,225 Sq.M 60% build (figures were given to me by the land registry in Larnaca), . Land has water, roads and electricity.I have been told that approximately 30 houses can be built on this land, hence why i have had interest from developers, even though we dont have it officially for sale. We have been offered 900,000 CYP but it belongs to various memebers of my family and collectively they want in the region of 1,350,000 CYP. Please tell me who deals with land of this size/price, or who is best to deal with this area. Thank you for your help



Nigel Howarth
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Joined: 24 Oct 2007 14:38
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Re: Advice on selling land

Post by Nigel Howarth » 11 Feb 2008 14:53

Hi Lamb & welcome,

I know Kalavasos quite well. I spent several weeks helping an archaeologist - to the left of the village up and behind the railway engine.

The first thing you need to is get the land independently valued. I was helping someone in a similar situation to yourself and the 'family' disputes over how much the land was worth caused him all sorts of problems! Eventually they split the plot so that each family member had a piece for themselves.

There is an independent organisation for valuing properties:
  • Association of Valuers & Surveyors
    PO Box 20724
    1663 Nicosia
    Tel: 22 751221/25 368757

    Contact name: Mr. Varnados Pashoulis
    Email: [email protected]
The association was established in October 2004, although I’ve never spoken with them personally.

If you don’t have any luck with them, get in touch with ETEK, the scientific & technical chamber:
  • ETEK
    The Cyprus Scientific and Technical Chamber
    Tel: 22 877644/22 877667
    Email: [email protected]
They should have a list of registered land surveyors and valuers.

As interest has already been shown in the land by a developer, I suggest you speak with others building in the area who may be interested. Word soon gets around - and if one property developer is interested, I'm sure there'll be others.

If you don't have any success, then approach one of the larger Registered Real Estate Agents - a name that springs to mind is Antonis Loizou.

Regards,


Nigel Howarth
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