Cyprus Property Forum for Buyers, Sellers & Investors

Hi,

I need some advice?
I live in England, however i own a share in some land in Avgorou, which is divided between 6 people, including myself. One of the six is missing in action for over 30yrs now, can we still go ahead and sell?
I have been notified by my aunt that there is 3 interested buyers and have been given a price of what they are offering.
she has asked me to send a piece of paper with my signature on it stating that i will be willing to sell, however i believe that this is not the proper way of doing things, so i have replied back to her saying that i will not be willing to sign anything unless i have a proposal from the buyer with an offer, and can it be presented to me in Englsih so that i will be able to understand it more.
I will be visiting Cyprus in two weeks time, so that i can see the land for myself and to see whats what, but i would like to know who i will be able to contact whilst i am over there, to find out how much the land is actually worth, also i need advice on how to go about signing anything if i live in England?

Any advice is very welcome.
Thanks for your time!

Hello lisapet & welcome,

To get a valuation of your land, you can contact:

• Association of Valuers & Surveyors
  PO Box 20724
  1663 Nicosia
  Tel: 22 751221/25 368757
  Contact name: Mr. Varnados Pashoulis
  Email: var@cytanet.com.cy
  
  or
  
  ETEK
  The Cyprus Scientific and Technical Chamber
  Tel: 22 877644/22 877667
  Email: cyprus@etek.org.cy
  (ETEK deals with their registration).
  
  or
  
  RICS (Royal Institute of Chartered Surveyors)
  see: http://www.rics.org/Networks/Regions/Eu ... tlight.htm for details
  
  And there are some companies listed at:
  
  http://cyprus.angloinfo.com/af/253/cypr ... eyors.html (concentrate on the ones that are members of RICS)

And you certainly want to see the bids in writing!

Regarding the missing person. Their agent, the administrator of a missing person from the Turkish invasion, can act on their behalf.

If you want someone in Cyprus to act for you, you can give a lawyer (or someone else) power of attorney. Louise Zambartas has recently joined the forum as our legal expert - she may be able to help.

Regards,

lisapet wrote:Hi,

I need some advice?
I live in England, however i own a share in some land in Avgorou, which is divided between 6 people, including myself. One of the six is missing in action for over 30yrs now, can we still go ahead and sell?
I have been notified by my aunt that there is 3 interested buyers and have been given a price of what they are offering.
she has asked me to send a piece of paper with my signature on it stating that i will be willing to sell, however i believe that this is not the proper way of doing things, so i have replied back to her saying that i will not be willing to sign anything unless i have a proposal from the buyer with an offer, and can it be presented to me in Englsih so that i will be able to understand it more.
I will be visiting Cyprus in two weeks time, so that i can see the land for myself and to see whats what, but i would like to know who i will be able to contact whilst i am over there, to find out how much the land is actually worth, also i need advice on how to go about signing anything if i live in England?

Any advice is very welcome.
Thanks for your time!

Hello Lisapet,

I am from Avgorou and I am in the property business as well as it happens.

First of all, before you think about spending a few hundred pounds on a valuation that may or may not be considered, there are some basic prices are attached to parcels of land depending on what zone it is in, where it is, and how big it is.

Even if you get a valuation, doesn't mean that the buyers will agree to it, they will offer what they think is an acceptable price so it becomes viable to them if they wanted to develop the land further.

You must also consider the tax (CGT - Capital Gains Tax) you will need to pay this will need to be paid before any sale can be completed.

With regards to signing, the MIA person, does he have family, wife, kids etc as they will take his share and maybe able to speak on his behalf. If not, then you need further legal advice on that one.

With regards to your self, if you are not here to sign then you need to leave a power of attorney with someone you trust to sign things on your behalf, but limit the power to this sale only.

if you come to Cyprus and come to Avgorou I have an office 50m from the main church Petros kai Pavlos adjacent to a hair salon. I would be happy to advise you further free of charge of course.

My email address is info@fsbproperties.com if you want to give me any further information that I may be able to assist you with. (Nigel - sorry if I am breaching any rules here, please feel free to delete anything you consider in breach)

All the best and have a safe trip over.