Guide to Selling Property in Cyprus
If you need tips and advice on selling property in Cyprus fast, then you have come to the Cypriot property re sale experts. Below are the steps needed to price your property correctly and get as much exposure as possible to attract cash rich overseas buyers.
Preparation for selling your Cypriot property.
Before you put your property on the market research the different methods of selling property in Cyprus, you can sell privately or you can sell through an auction but most choose a expert online real estate agent who markets overseas to the likes of Russia, China, the UK and the middle east. This is because a expert in Cypriot re sales will handle everything for you and deal with the language barriers to get you the best possible price for your property.
Like every country in Europe, Cyprus has busy periods of buying/viewing times and you need to be advertising within these times to maximise your chance of a sale. Cyprus property sells all year round but January to March & August to December is when the most serious cash rich buyers come forward at the property exhibitions, so make sure find an agent who can get you in these shows.
Presentation and first impressions count when re selling your property in Cyprus. Make sure the property is clean and de cluttered to show a well kept holiday home to potential buyers. Clean the exterior, freshen up the garden and give the living areas a clean and fresh coat of paint. When a buyer views your property they need to picture themselves in it so you need to remove as much of your personal life as possible and leave a neutral canvass for them. Follow this simple step and you are on your way to attracting buyers and selling your property in Cyprus Quickly.
Property pricing and selling costs.
When you are ready to put your property on the market price your property similar to what properties in your area are advertised for. Never think for a second you have the best property because there is always a better property at a better price out there. You will need to cover the cost of any repair work prior to selling, marketing fees to attract buyers from Russia and China etc. So when you set your price advertise about 10% higher to cover all these extras. You will have to market outside of Cyprus as the Cypriots rent property in Cyprus they do not purchase property. Take good photos and have a full written description of your property ready. A good agent will translate this to attract multi lingual buyers. To attract as many cash rich overseas buyers as possible.
Negotiation on price.
Always leave room to accept offers as very rarely a buyer will pay the asking price. Each seller has different reasons for selling and each buyer has different budgets and will only pay what they are willing to pay for any property. Never look desperate as a savvy buyer will pick up on this and you will receive low offers. An expert in Cypriot re sale property will handle all this for you and bring all offers that come in to the table. This is where we come in we will take the stress of selling away and handle every aspect of your sale. Always give a good price to the buyer while trying to get as close to your asking price as possible.
When the buyer and seller agrees on a price it is time to start the legal process and you will need a reputable multi lingual lawyer to handle your legal paperwork under Cypriot law. We can recommend a few firms if you need help with this or you can appoint the legal team you bought the property through as they already have background experience on your property. The lawyer will draw up a sales contract including what fixtures and fittings are being sold. Keep all utility bills and maintenance fees as the buyer will want to see copies of these to make sure everything is paid up to date. Once all this has been checked the solicitor will send copies of the contract to both parties for signing.
When contracts have been signed the buyer is legally obliged to pay you the agreed sale amount and this is done from the buyer to a solicitor of your choice to a bank account of your choice. The non refundable 20% deposit may be paid in cash and will have to be deposited in the solicitors bank account until contracts are signed.
The sales process in Cyprus can last from 8 to 12 weeks and we can guide you every step of the way.
If you need to sell property in Cyprus fast contact us today for some free advice.